Africa Two Wheeler Tire Market to Register a Growth of 3.16% CAGR by Volume through 2026
Growing vehicle fleet coupled with climatic condition driven tire demand is anticipated to drive the Africa two-wheeler tire market through 2026.
According to TechSci Research report, “Africa Two-Wheeler Tire Market By Vehicle Type (Motorcycle & Scooter / Moped), By Demand Category (OEM Vs Replacement), By Tire Type (Radial Vs Bias), By Country, Competition, Forecast & Opportunities, 2026”, Africa two-wheeler tire market is estimated to reach 8.86 million units by 2026. According to Association of Natural Rubber Producing Countries, the rubber prices are cumulatively increasing with years passing by. On the other hand, due to climatic adversities, tire replacement is becoming more frequent in African countries. Moreover, with increasing per capita spending of the people, the upgradation of motorcycles and participation of motorcycle enthusiasts in sports activities is also increasing in the African countries. These drivers are expected to aid the tire market growth in the forecast period also. Companies operating in Africa are also introducing more performance-oriented tires to better suit different driving conditions, which is further anticipated to promote the level of technological advancements in the Africa two-wheeler tire market.
Browse more than 62 market data Figures spread through 80 Pages and an in-depth TOC on “Africa Two-Wheeler Tire Market”
https://www.techsciresearch.com/report/africa-two-wheeler-tires-market/4849.html
Africa two-wheeler tire market can be segmented based on vehicle type, by demand category, by radial vs bias, by country and by company. On the basis of vehicle type, the market is segmented into motorcycle and scooter/mopeds. In African countries motorcycle is the most preferred vehicle for daily personal commutation. Moreover, due to shortage of public transport facilities in these countries motorcycle sales and usage are also increasing at a robust rate. Thus, motorcycles are currently dominating the Africa two-wheeler tire market and is expected to drive the tire demand through the forecast period also. In terms of demand category, the market is segmented into OEM and replacement tires. There is a scarcity of two-wheeler production and assembly plants spread across African countries. This is a major reason OEM category is not prominent when tire demand category is considered. Due to large and continuously growing vehicle fleet of the countries, replacement category is expected to drive the growth of two-wheeler tires in Africa in the forecast period. When tire type is considered, the market is segmented across radial tires and bias tires. With the increasing trend of radialization, radial tires are gaining popularity but due to the market dominance by commuter segment, bias tires still hold a majority of market shares. This trend can be witnessed in the forecast period also. On the basis of country, the market is segmented across Nigeria, Egypt, Kenya, Angola, South Africa, Tanzania, Ethiopia, Zimbabwe, Libya, Djibouti and rest of the Africa. Nigeria and Egypt, cumulatively these countries have the largest fleet size in the African continent. Therefore, Africa two-wheeler market is being dominated by these two countries and is expected to be dominated by them only in the forecast period.
In the year 2020, to prevent spread of COVID-19, the governments of countries across Africa, which impacted international trade, inhouse production as well as domestic sales. According to TechSci Research’s estimates, the market suffered a decline of 2.67% in terms of volume. In the region, aggregate investment contracted massively in the time of lockdown, overall production declined, and imports of goods and services witnessed a robust descent impacting the economy as well as people purchasing power negatively in 2020. This decline left a remarkable depreciation in the two-wheeler tire market; however, it is currently reviving and is set to overcome the descent in the 2021-2022 period owing to the government’s stimulus for economy revival and unlocking international trades and investments.
Michelin Group, Bridgestone Corporation, Goodyear Tire and Rubber Company, Continental AG, Dunlop Ltd., etc. are some of the leading players operating in the Africa two-wheeler tire market. Apart from these flagship companies, many Chinese players are also increasing their footprint in the Africa two-wheeler tire market by pushing their low-cost products blended with ease of availability.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=4849
Customers can also request for 10% free customization on this report.
“With increase in tire replacement frequency, good importing conditions along with growing vehicle fleet, backed by the increase in personal transportation and growth of several sporting activities, the demand for two-wheeler tires is expected to grow at a robust pace in the African countries. Also, increasing penetration of global tire brands and expansion of manufacturing capabilities are further expected to back the growth of the Africa two-wheeler tire market in future years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Africa Two-Wheeler Tire Market By Vehicle Type (Motorcycle & Scooter / Moped), By Demand Category (OEM Vs Replacement), By Tire Type (Radial Vs Bias), By Country, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of the Africa two-wheeler tire market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge 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 the Africa two-wheeler tire market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
