NEW YORK, March 9, 2016 /PRNewswire/ -- Rising domestic demand and expanding fleet size are expected to boost tyre demand in Ethiopia over the next five years. As of 2013, Ethiopia's vehicle motorization rate (for Passenger cars and Commercial vehicles) stood at 2 vehicles per 1,000 people. As a result of this low vehicle ownership, Ethiopia is expected to continue witnessing growth in the sales of vehicles as well as automobile fleet size, thereby driving tyre demand during the forecast period. Due to unstable political environment, automobile as well as tyre companies have been facing challenges in conducting their operations in the country over the last few years. However, with the country gradually regaining political stability, coupled with better fiscal and regulatory policies, Ethiopia is expected to evolve into a more open and stable economy over the course of next 5-10 years, which would eventually have a positive impact on the country's automotive industry in the coming years.
According to TechSci Research report, "Ethiopia Tyre Market Forecast & Opportunities, 2020", there are no automobile manufacturers in the country, and hence, the tyre market in Ethiopia is completely driven by the replacement tyre segment. The tyre market of the country is dominated by passenger car tyre segment, followed by medium and heavy commercial vehicle tyre segment, which cumulatively captured a market share of more than 75% in 2014. Few of the major tyre companies operating in Ethiopia include Horizon Tyre, which is the only tyre manufacturing company in the country; Bridgestone, Pirelli, Michelin, Yokohama, Goodyear, and Hankook. "Ethiopia Tyre Market Forecast & Opportunities, 2020" report elaborates following aspects of tyre market in Ethiopia:
- Ethiopia Tyre Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tyres, Medium & Heavy Commercial Tyres, Light Commercial Vehicle Tyres, OTR Tyres & Two Wheeler 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 Ethiopia
- 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 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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