LONDON, May 9, 2016 /PRNewswire/ -- Due to low motorization rate of around 37 vehicles (passenger cars & commercial vehicles) per 1000 people in 2013, Angola's automotive industry offers considerable growth potential. Over the last few years, the automobile sector in the country has been witnessing an uptick in investments, with vehicle imports also exhibiting growth. This has translated into boosting demand for other automotive products in the country, including tyres. Automobile sector in Angola lacks presence of any automobile OEMs. Moreover, the country does not have any tyre manufacturing facilities. Due to this reason, the tyre market of the country is entirely replacement and import driven.
According to TechSci Research report, "Angola Tyre Market Forecast & Opportunities, 2020", Angola's focus on diversification into non-oil sectors, coupled with growing construction activities, expanding vehicle fleet and increasing automobile sales are expected to drive the country's tyre market at a CAGR of more than 10% during 2015 - 2020. During 2010-2014, the passenger car tyre segment was among the key segments in the country's tyre market, and this trend is expected to continue during the forecast period as well. Decline in crude oil prices to USD60 per barrel in 2014, has widened the country's deficit, leading to retrenchment of public expenditure in infrastructure and construction activities. However, the country has various infrastructure projects in pipeline, which are forecast to drive the commercial vehicle and OTR tyres market over the course of next five years. "Angola Tyre Market Forecast & Opportunities, 2020" report elaborates following aspects related to tyre market in Angola:
- Angola Tyre Market Size, Share & Forecast
- Segmental Analysis – Passenger Car, Commercial Vehicle, Two Wheeler & OTR Tyres
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tyre market in Angola
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tyre companies and other stakeholders to align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre companies, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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