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.
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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.
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“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.
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