Latest 2023 Development of the Africa Tire Market

Africa Tire Market has been experiencing various developments and projects in recent years. The tire market in Africa has been growing steadily on the back of increasing demand for passenger and commercial vehicles. The tire market is anticipated to grow due to rapid urbanization and rising industrialization in Africa. The expansion of manufacturing plants in Africa by several global tire manufacturers to tap into the growing market is another major development in this industry. Tire manufacturers are investing in research and development to create new tire technologies that are appropriate for the market. Apart from this, technological advancements in the tire industry have made it possible to produce high-quality tires that are more durable and have better performance.

Moreover, manufacturers are exploring the use of renewable materials such as natural rubber, plant-based oils, and recycled materials in tire production. This move towards sustainable tire production is driven by the need to reduce the carbon footprint of tire production. In general, the Africa Tire Industry is experiencing tremendous growth. The major factors driving the growth include the expansion of manufacturing plants, increased use of renewable materials, and government regulations. Many African countries have experienced rapid economic growth in recent years, which has led to an increase in consumer spending power. Furthermore, the population in Africa is growing rapidly which resulted in an increasing number of people who are buying vehicles. 

Africa Tire Market Synopsis

Africa Tire market report is a part of the Global Tire Market report thoroughly covers the market by origin, types, vehicle types, end-users, and key countries including South Africa, Egypt, Kenya, Ethiopia, Nigeria, Algeria, Morocco, Tanzania, Ghana, and the Rest of Africa. Africa Tire market outlook provides an unbiased and detailed analysis of the ongoing Africa Tire market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

The rise in demand for the tire market in Africa is driven by the growing middle-class population, rising automotive fleet, and increasing government investment in the development of transportation infrastructure. Global tire manufacturers are setting up their manufacturing base in the Africa region to meet the growing demand for tires in the Africa region; especially the Chinese tire manufacturers, which has led to a reduction in the prices of the tires. Moreover, many countries in Africa have a price-sensitive market, and the consumers in Africa desire less expensive tires rather than highly expensive branded tires.

According to 6Wresearch, Africa Tire (Tyre) Market size is projected to grow rapidly during 2020-2026. Rising discretionary spending towards the adoption of automobiles is propelling the Africa Tire Market Growth. The significant growth of the automotive industry is anticipated to trigger the potential growth of the Africa tire market in the coming years owing to the increased advancements by the respective government of the developed and developing nations across the African region which is expected to augment the growth of Africa tire market in the foreseeable future. Additionally, an increase in the sales of passenger and commercial vehicles in the country is expected to contribute towards generating sound demand projections for a tire in the coming years and leave a positive impact on the growth of the Africa tire market in the upcoming six years and the timeframe later on. 

The Africa tire market is expected to witness substantial growth during the forecast period 2020-26F backed by the rising substantial growth of the automotive industry. The rise in commercial and passenger vehicle adoption is due to an increase in the purchasing power of the African population. In line with this, the rapid growth of vehicle adoption across the region is estimated to stimulate manufacturers to double the automobile parts manufacturing, tires being one of them and are expected to leave a positive impact and would benefit the impressive growth of the Africa tire market in the upcoming six years. 

Market Analysis By Vehicle Types

Based on vehicle types, the passenger car segment accounted for a major share of the market revenue pie in the Africa tire market due to the increasing demand for passenger cars in the Africa region. The light commercial vehicle segment has developed as the second-largest tire segment in the past few years followed by other segments. Moreover, increasing government investment in the expansion of the industrial and automobile sector is anticipated to lead towards a surge in demand for commercial vehicles in Africa, resulting in a growth in demand for the tire market over the upcoming years.

Market Analysis By Country 

South Africa is the leading revenue-generating country in the Africa tire market on the back of growing automobile sales in the country. Moreover, the presence of a large on-road fleet size replacement segment contributes a major share of market revenues. Further, the tire market in Africa is predominantly import driven thus, growing networks with dealers and distributors is a key aspect for increasing the tire sale in the region.

COVID-19 Impact on Africa Tire Market

The outburst of the coronavirus pandemic has led to disruption in the Africa Tire Market growth owing to the decline in the automotive industry. The restrictions imposed by the government of the country led to the shutting down of manufacturing and business units that further disrupted the Africa Tire Market Growth. Nationwide lockdown by the government also hampered the supply chain of tires. 

Key Players in the Market

• Some of the key players in the Africa Tire Market are:
• Bridgestone Corporation
• Sumitomo Rubber Industries
• Continental tire SA Ltd.
• Yokohama Rubber Company
• Goodyear South Africa Ltd.
• Apollo Tires
• Auto & Truck Tyres Ltd.
• Bandag Southern Africa (Pty) Ltd.
• Michelin
• Dunlop tires

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2016 to 2019.
• Base Year: 2019.
• Forecast Data until 2026.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Africa Tire Market Overview
• Africa Tire Market Outlook
• Africa Tire Market Forecast
• Historical Data of Africa Tire Market Revenues and Volume, for the Period2016-2019
• Africa Tire Market Size and Africa Tire Market Forecast of Revenues and Volume, Until 2026
• Historical Data of Africa Tire Market Revenues and Volume, By Vehicle Types, for the Period 2016-2019
• Market Size & Forecast of Africa Tire Market Revenues and Volume, By Vehicle Types, until 2026
• Historical Data of Africa Tire Market Revenues and Volume, By Types, for the Period 2016-2019
• Market Size & Forecast of Africa Tire Market Revenues and Volume, By Types, until 2026
• Historical Data of Africa Tire Market Revenues and Volume, By Origin, for the Period 2016-2019
• Market Size & Forecast of Africa Tire Market Revenues and Volume, By Origin, until 2026
• Historical Data of Africa Tire Market Revenues and Volume, By End Users, for the Period 2016-2019
• Market Size & Forecast of Africa Tire Market Revenues and Volume, By End Users, until 2026
• Historical Data of South Africa Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of South Africa Tire Market Revenues and Volume, until 2026
• Historical Data of Egypt Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Egypt Tire Market Revenues and Volume, until 2026
• Historical Data of Kenya Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Kenya Tire Market Revenues and Volume, until 2026
• Historical Data of Ethiopia Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Ethiopia Tire Market Revenues and Volume, until 2026
• Historical Data of Nigeria Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Nigeria Tire Market Revenues and Volume, until 2026
• Historical Data of Algeria Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Algeria Tire Market Revenues and Volume, until 2026
• Historical Data of Morocco Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Morocco Tire Market Revenues and Volume, until 2026
• Historical Data of Tanzania Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Tanzania Tire Market Revenues and Volume, until 2026
• Historical Data of Ghana Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Ghana Tire Market Revenues and Volume, until 2026
• Historical Data of Rest of Africa Tire Market Revenues and Volume, for the Period 2016-2019
• Market Size & Forecast of Rest of Africa Tire Market Revenues and Volume, until 2026
• Market Drivers and Restraints
• Africa Tire Market Trends and Industry Life Cycle
• Africa Tire Market Revenue Share, By Players
• Africa Tire Market Revenue Share, By Regions
• Africa Tire Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered:

The Africa Tire Market report provides a detailed analysis of the following market segments:

By Origin:

• Local Manufacturing
• Imports

By Types:

• Radial Tires
• Bias Tires

By End Users:

• OEM
• Replacement

By Vehicle Types:

• Trucks
• Light Trucks
• Two-Wheelers
• Passenger Cars

By Countries

• South Africa
• Egypt
• Kenya
• Ethiopia
• Nigeria
• Algeria
• Morocco
• Tanzania
• Ghana
• Rest of Africa

Frequently Asked Questions About the Market Study: (FAQs)

1). What is the impact of the coronavirus pandemic on the Africa Tire Market growth?

The outburst of the coronavirus pandemic has led to disruption in the Africa Tire Market growth owing to the decline in the automotive industry. The restrictions imposed by the government of the country led to the shutting down of manufacturing and business units that further disrupted the Africa Tire Market Growth.

2). Which segment based on vehicle type accounted for a major share of the Africa Tire Market?

Based on vehicle types, the passenger car segment accounted for a major share of the market revenue pie in the Africa tire market.

3). What is the reason behind the growth of South Africa in overall Africa Tire Market Growth?

South Africa is the leading revenue-generating country in the Africa tire market on the back of growing automobile sales in the country.

4). Which factor is propelling the Africa Tire Market Growth?

Rising discretionary spending towards the adoption of automobiles is propelling the Africa Tire Market Growth.