DUBLIN, Feb. 8, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Somalia Tire Market Forecast & Opportunities, 2022" report to their offering.

The Somalia tire market is forecast to grow at a CAGR of over 6% during 2017-2022 driven by economic growth, coupled with growing construction activities, expanding vehicle fleet and increasing automobile sales in the country. With a lion's share of over 50 percent, passenger car segment dominated the country's tire market, followed by growing light commercial vehicle tire segment.

Due to the absence of automobile manufacturing facilities in the country, replacement demand dominated Somalia tire market. Somalia is prominently divided into three regions including Lower, Upper and Middle region, with Lower region, dominating tire demand in the country.

Growth of the country's tire industry is prominently backed by growing sales of vehicles and expanding automobile fleet in the country. Increasing population of the country is also boosting demand for automobiles and related tire products. As per the CIA, population of the country stood at 10.81 million in 2016. Moreover, rising government focus on development of infrastructure and industrial sectors is further anticipated to boost demand for automobiles and related tire products in the country during 2017-2022.

Companies Mentioned:

• Apollo Tyres Ltd.
• Bridgestone Middle East & Africa FZE
• CEAT Limited
• GITI Tire (China) Investment Company Ltd.
• Hangzhou Zhongce Rubber Co. Ltd.
• JK Tyre & Industries Ltd.
• MRF Limited
• Michelin AIM FZE
• PrinxChengshan (Shandong) Tire Company
• Shandong Wanda BOTO Tyre Co. Ltd.
  

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Analyst View

4. Somalia Tire Market Outlook

5. Somalia Passenger Car (PC) Tire Market Outlook

6. Somalia Light Commercial Vehicle (LCV) Tire Market Outlook

7. Somalia Two-Wheeler and Three-Wheeler Tire Market Outlook

8. Somalia Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook

9. Somalia OTR Tire Market Outlook

10. Import-Export Analysis

11. Supply Chain Analysis

12. Market Dynamics

13. Market Trends & Developments

14. Policy & Regulatory Landscape

15. Somalia Economic Profile

16. Competitive Landscape

17. Strategic Recommendations

For more information about this report visit http://www.researchandmarkets.com/research/ntm234/somalia_tire

Media Contact:

Laura Wood, Senior Manager
press@researchandmarkets.com

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SOURCE Research and Markets