Press Release Description

Rapid Infrastructural Development & Mining Activities across Angola to Foster the Tire Market

The Angola Tire Market is expecting around 12% CAGR during 2021-26, cites MarkNtel Advisors in their recent research report. The burgeoning demand for heavy equipment & machinery in Angola owing to various ongoing & upcoming infrastructural development projects and increasing mining activities is the prime aspect driving the tire market in the country. 

Besides, the escalating need of the country to reduce its dependency on oil is another crucial aspect contributing to the surging number of construction projects in the country, thereby positively impacting the tire market growth. 

Moreover, massive government funding to strengthen the transportation & logistics sector and trade businesses, leading to the increasing sales of vehicles across the country, shall also boost the demand for tires over the forecast years, further states the research report, “Angola Tire Market Analysis, 2021.”

Mounting Sales of Heavy Commercial Vehicles for Mining & Construction Activities to Boost the Tire Market

Heavy Commercial Vehicles are anticipated to display the fastest growth in the Angola Tire Market during the forecast period. It attributes to the swiftly escalating demand for heavy machinery & construction equipment for numerous ongoing construction projects in line with the government's immense focus on infrastructural developments. 

It, in turn, is soaring the demand for robust tires that offer firm grips, durability, stability, and other features to bring operational efficiency to the equipment. Besides, since Angola is among the prominent producers of diamonds in Africa after exploring a mere 40% of the territory, the number of mining, production, and exploration activities is rapidly surging across the country. As a result, the mounting demand for radial tires is augmenting the overall market growth, reveals MarkNtel Advisors in their research report, "Angola Tire Market Analysis, 2021."

Competitive Landscape

The leading players in the Angola Tire Market are Bridgestone Corp., Continental Tires, Michelin, Goodyear, Hankook, Kumho Tires, Others. 

Key Questions Answered in the Research Report:

  1. What are the current & future trends in the Angola Tire Market?
  2. How has the industry been evolving in terms of geography & product adoption?
  3. How has the competition been shaping across Angola, followed by their comparative factorial indexing?
  4. What are the key growth drivers & challenges for the Angola Tire Market?
  5. What are the customer orientation, purchase behavior, and expectations from tire manufacturers across Angola?

Market Segmentation:

  1. By Vehicle Type (Passenger Cars (SUV, Sedan, Hatchback & Bakkies), Light Commercial Vehicles (LCV) (Light Trucks, Light Buses, Pickup trucks & Vans), Medium & Heavy Commercial Vehicles (Bus, Truck), Two Wheelers (Moped, Scooters, Motorcycles), Off the Road (OTR) (Earthmoving Equipment, Material Handling Equipment, Industrial & Mining Equipment))
  2. By Demand Type (OEM, Replacement)
  3. By Type of Tire (Radial, Bias)
  4. By Season (All-Season, Summer)
  5. By Sales Channel (Online, Dealers/ Exclusive Outlets)
  6. By Rim Size (Up to 12, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”)
  7. By Price Category (Low, Medium, High)
  8. By Competitors (Bridgestone Corp., Continental Tires, Michelin, Goodyear, Hankook, Kumho Tires, Others)