Somalia Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2017- 2027

Somalia tire market is forecast to undergo a CAGR of over 3% during the forecast period on account of increasing automobile sales and expanding the automobile fleet in the country. Apart from that, economic growth and growing construction activities are other vital factors propelling the growth of the Somalia tire market. Moreover, with the government's increasing focus on the development of infrastructure and industrial sectors, the Somalia tire market is expected to grow significantly through 2027.

Additionally, increasing circulation of Chinese tires, which are significantly low in cost, is another major factor boosting the growth of the Somalia tire market. With an expected increase in the inflow of used cars in the country, the country's tire market is anticipated to grow over the next five years.

Somalia tire market is segmented by vehicle type, demand category, radial vs. bias, and region. Based on vehicle type, the market can be categorized into passenger cars, LCV, M&HCV, OTR, two-wheeler, and three-wheeler. Among them, the passenger car segment dominated the country's tire market until 2021 and is expected to maintain its position during the forecast period. The reasons can be attributed to the rise in the sale of passenger vehicles and the increasing demand for replacement tires.

Major companies operating in the Somalia tire market are Apollo Tyres Ltd., CEAT Limited, JK Tyre & Industries Ltd., Michelin AIM FZE, Bridgestone Middle East & Africa FZE, MRF Limited, Shandong Wanda BOTO Tyre Co. Ltd., Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd. and Prinx Chengshan (Shandong) Tire Company, among others. Somalia tire market is dominated by Chinese tire companies, which hold more than 60% of the market share. Furthermore, leading tire manufacturers are undergoing mergers & acquisitions, partnerships, collaborations, joint ventures, and product innovation to strengthen their position in the Somalia tire market.

Objective of the Study:

• To analyze and forecast the market size of Somalia tire market.
• To classify and forecast Somalia tire market based on vehicle type, demand category, radial vs bias, company and region.
• To identify drivers and challenges for Somalia tire market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Somalia tire market.
• To identify and analyze the profile of leading players involved in the manufacturing tires in Somalia.

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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of tire dealers operating in the country. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels and regional presence of all major tire suppliers across Somalia.

TechSci Research calculated the market size for Somalia tire using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Tire manufacturers, suppliers, distributors and other stakeholders
• Vehicle manufacturing companies
• Raw material suppliers
• Associations, organizations, forums and alliances related to tires
• Government bodies such as regulatory authorities and policy makers
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as vehicle manufacturers, distributors and dealers, and policy makers. The study would also help the stakeholders to target the growing segments over the coming years, thereby aiding them in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Somalia tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Somalia Tire Market, By Vehicle Type:

o    Passenger Car

o    Two-Wheeler

o    Medium & Heavy Commercial Vehicle

o    Light Commercial Vehicle

o    Off-The-Road Vehicle (OTR)

o    Three-Wheeler

• Somalia Tire Market, By Demand Category:
• OEM
• Replacement
• Somalia Tire Market, By Tire Type:
• Radial vs Bias
• Somalia Tire Market, By Region:
• Lower Region
• Upper Region
• Middle Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Somalia tire market.

Available Customizations:

With the given market data, TechSci Research offers customizations according a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

• Profit margin analysis in case of direct and indirect sales channel.

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]