The Botswana Tire Market is expecting around 5% CAGR during 2021-26, cites MarkNtel Advisors in their recent research report. The rapidly surging construction projects in the country due to the increasing government focus on infrastructure developments, i.e., propelling the demand for heavy commercial vehicles & construction equipment, is the prime aspect driving the tire market in Botswana.
Besides, increasing mining activities to procure diamonds is leading to the mounting adoption of mining equipment, which, in turn, is boosting the demand for robust tires for enhanced stability, grip, & durability, along with lower rolling resistance & fuel consumption. Moreover, the surging awareness among vehicle owners about the benefits & need to frequently check tire conditions & provide them timely replacement is also augmenting the market growth.
Furthermore, the active participation of the government through favorable policies in introducing several construction projects associated with like highways, railways, etc., are also likely to play a crucial role in fueling the market growth through 2026, further states the research report, “Botswana Tire Market Analysis, 2021.”
Extensive Variety of Replacement Tires to Significantly Boost the Market through 2026
The Replacement demand type is the prime contributor to the Botswana Tire Market and is anticipated to display significant growth during the forecast period. It owes principally to the mounting awareness among people about the significance of timely maintenance of tires, i.e., leading to a rapidly increasing demand for replacement tires and driving the market.
Besides, the rising inclination toward exploring different varieties of tires under different budgets also projects a paradigm shift of vehicle owners toward opting for replacement tires. It, in turn, is encouraging the leading market players to increase their production & supply to these channels and boost the overall market growth in the years to come, reveals MarkNtel Advisors in their research report, "Botswana Tire Market Analysis, 2021."
The leading players in the Botswana Tire Market are Dunlop Tyres, MRF Tires, Apollo Vredestein, Bridgestone Corp., TVS Tires.
Key Questions Answered in the Research Report: