Vietnam Tyre Market Forecast and Opportunities, 2020 - Increasing Usage of New Tyre Technologies

Nov 19, 2015, 09:10 ET from Research and Markets

DUBLIN, Nov. 19, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/gz9tpc/vietnam_tyre) has announced the addition of the "Vietnam Tyre Market Forecast and Opportunities, 2020" report to their offering.

Growing automobile sales, rising vehicle fleet and increasing foreign investments in the automotive sector are the major factors driving Vietnam tyre market

Two-wheeler tyre segment dominates the market, followed by passenger car and commercial vehicle & OTR tyre segments. However, passenger car tyre segment is expected to exhibit fastest growth rate over the next five years, followed by commercial vehicle & OTR tyre segment. DRC, SRC, Yokohama, Bridgestone, Kumho, Maxxis, Pirelli and Michelin are few of the key tyre companies operating in Vietnam. Amongst domestic tyre companies, Danang Rubber Company (DRC) dominated the Vietnam tyre market in 2014.

Vietnam, with a population of around 91 million in 2014, is one of the developing economies in Asia-Pacific, and has emerged as a major market for automotive tyres over the last five years. On account of increasing GDP per capita, motorization rate in Vietnam has been growing at a brisk pace. As a result, the country's vehicle fleet size has been expanding tremendously over the last few years. Considering the growing demand for vehicles, many domestic and global players are strengthening their footprint in the country by establishing manufacturing plants in Vietnam. Government of Vietnam, on its part, inked WTO and AFTA agreements with neighboring countries to encourage foreign investments. All these factors have been fueling OEM and replacement demand for automotive tyres in Vietnam. In addition, Vietnam has vast rubber resources, which further makes the country an ideal destination for establishing tyre manufacturing facilities.

Vietnam Tyre Market Forecast & Opportunities, 2020 report elaborates following aspects of tyre market in Vietnam:

  • Radial Tyres - A Popular Choice of Vehicle Owners
  • Increasing Online Tyre Sales
  • Easy Availability of Natural Rubber Attracting Foreign Companies to Set Up Manufacturing Plant in Vietnam
  • Increasing Tyre Export
  • Increasing Usage of New Tyre Technologies

Key Topics Covered:

1. Research Methodology

2. Analyst View

3. Product Overview

4. Vietnam Tyre Production Overview

5. Vietnam Tyre Market Outlook

6. Vietnam Two-Wheeler (2W) Tyre Market Outlook

7. Vietnam Passenger Car (PC) Tyre Market Outlook

8. Vietnam Commercial Vehicle (CV) & OTR Tyre Market Outlook

9. Import-Export Analysis

11. Market Trends & Developments

12. Policy & Regulatory Landscape

13. Vietnam Economic Profile

14. Competitive Landscape

15. Strategic Recommendations

Companies Mentioned

- Bridgestone Tire Sales Vietnam Limited Liability Company

- Cheng Shin Rubber (Vietnam) Ind. Ltd

- Continental Ag

- Danang Rubber Joint Stock Company

- Goodyear Vietnam Co. Ltd

- Kumho Tire Co., Ltd. Vietnam

- Michelin Vietnam Co., Ltd

- SAO VANG RUBBER JOINT STOCK COMPANY

- The Southern Rubber Industry JSC

- Yokohama Tyre Vietnam Inc.

For more information visit

http://www.researchandmarkets.com/research/gz9tpc/vietnam_tyre

Media Contact:

Laura Wood, +353-1-481-1716, press@researchandmarkets.net

 

SOURCE Research and Markets



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