Increasing production of passenger and commercial vehicles to boost demand for tires in South Africa
According to TechSci Research report, “South Africa Tire Market By Vehicle Type, By Radial vs Bias, By Demand Category, By Region, Competition, Forecast & Opportunities, 2025”, South Africa tire market is forecast to cross $ 2.5 billion by 2025, owing to growing production of automobiles and continuously expanding automobile fleet in the country. South Africa tire market can be segmented based on vehicle type, radial vs bias, demand category and region. Passenger car tire is the dominant segment in South Africa tire market due to expanding passenger car fleet size coupled with growing passenger car production and sales in the country. In terms of demand category, the market can be segmented into OEM and Replacement segments. The Replacement tire segment accounted for the largest market share in 2020 on account of large automotive fleet size.
Browse 49 market data Figures and Tables spread through 70 Pages and an in-depth TOC on “South Africa Tire Market”
Bridgestone South Africa (Pty) Ltd, Continental Tyre SA (Pty) Ltd, Goodyear South Africa (Pty) Ltd, and Sumitomo Rubber South Africa (Pty) Ltd are few of the leading players operating in South Africa tire market. Increase in production capacity of domestic tire manufacturers, expansion of respective product portfolios and rising focus on marketing activities is intensifying the competition in South Africa tire market. Increasing presence of Chinese and other budget tire brands is pushing the existing tire manufacturers to innovate and reconstruct their tire offerings to retain as well as expand their consumer base.
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Based on radial vs bias, the market can be segmented into radial and bias tires, with radial tires segment accounting for the largest market share and expected to maintain its dominance during the forecast period as well. Consumers prefer radial tires due to their advantages, such as flexible sidewalls and reduced fuel consumption due to less vibration and resistance. “Garnering support from continuously increasing vehicle fleet in South Africa and positive outlook of the country’s vehicle manufacturing industry is anticipated to augment demand for tires in both OEM as well as replacement tire segments in South Africa over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“South Africa Tire Market By Vehicle Type, By Radial vs Bias, By Demand Category, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of South Africa tire market and provides statistics & information on market size, structure and future market growth. The report intends to provide latest market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in South Africa tire market.
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