The Eritrea tire market is forecast to grow at a CAGR of over 4% during 2017-2022 driven by consistently expanding automobile fleet size, increasing infrastructural developments and increasing average selling prices of tires. Eritrea tire market is dominated by Chinese tire companies, which accounts for more than 50% share in the country's tire market. Other leading flagship tire companies operating in Eritrea include Bridgestone, MRF, Apollo, CEAT, etc.
Replacement demand dominated Eritrea tire market, as there are no automobile manufacturing facilities in the country. Eritrea is prominently divided into three regions including Northern, Central and Southern region, with Central region, dominating tire demand in the country.
Growth of the tire industry of the country is prominently backed by growing sales of vehicles and expanding automobile fleet in the country. Increasing population of the country is also boosting demand for automobiles and related tire products. As per the CIA, population of the country stood at 5.86 million in 2016. Moreover, rising government focus on development of infrastructure and industrial sectors is further anticipated to boost demand for automobiles and related tire products in the country during 2017-2022.
- Apollo Tyres Ltd.
- Bridgestone Middle East & Africa FZE
- CEAT Limited
- GITI Tire (China) Investment Company Ltd.
- Hangzhou Zhongce Rubber Co. Ltd.
- JK Tyre & Industries Ltd.
- MRF Limited
- Michelin AIM FZE
- Prinx Chengshan (Shandong) Tire Company
- Shandong Wanda BOTO Tyre Co. Ltd.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. Eritrea Tire Market Outlook (2012-2022)
5. Eritrea Passenger Car (PC) Tire Market Outlook
6. Eritrea Light Commercial Vehicle (LCV) Tire Market Outlook
7. Eritrea Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook
8. Eritrea OTR Tire Market Outlook
9. Eritrea Two- & Three-Wheeler Tire Market Outlook
10. Import Export Analysis
11. Supply Chain Analysis
12. Market Dynamics
13. Market Trends & Developments
14. Policy & Regulatory Landscape
15. Eritrea Economic Profile
16. Competitive Landscape
17. Strategic Recommendations
For more information about this report visit http://www.researchandmarkets.com/research/g2vcsg/eritrea_tire
Laura Wood, Senior Manager
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SOURCE Research and Markets