Press Release Description

Cameroon Two-Wheeler Tire Market to Accelerate at a CAGR of Around 9.08% During 2024-30

The Cameroon Two-Wheeler Tire Market is anticipated to grow at a CAGR of about 9.08% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The expansion of Cameroon's two-wheeler tire industry is fueled by rapid urbanization, population growth, rising unemployment, and growing tourism. The surge in urbanization and population growth is driving the demand for transportation solutions that are both cost-effective and efficient in the country. As a result, two-wheelers have emerged as favored modes of transport due to their ability to navigate congested urban roads and their lower cost compared to four-wheeled vehicles. The increasing preference for two-wheelers in urban areas is propelling the growth of the Cameroon Two-Wheeler Tire Market, primarily driven by the heightened wear and tear experienced on challenging urban roads, leading to the need for tire replacements.

Cameroon Two-Wheeler Tire Market

Moreover, heightened levels of unemployment in Cameroon drive individuals towards entrepreneurial endeavors and participation in the informal economy. According to the International Labor Organization, the youth unemployment rate increased by approximately 7.1% in 2021 compared to about 6.4% in 2019. In light of this situation, many individuals, particularly those facing unemployment or underemployment, turn to motorcycle taxi services as a means of generating income, thereby contributing to the expansion of the two-wheeler sector. The increased utilization of motorcycles and scooters directly correlates with a heightened demand for two-wheeler tires.

Furthermore, Cameroon has experienced a notable increase in tourist arrivals in recent years. According to the World Bank, international tourist arrivals reached approximately 1.02 million in 2022, up from about 0.9 million in 2021. This upward trend in tourist arrivals is expected to drive demand for rental two-wheelers, allowing tourists to explore the country's attractions independently. Consequently, this surge in demand for rental vehicles will lead to a higher adoption of tires by rental companies, as they strive to maintain and replace tires regularly to ensure the safety and reliability of their services. This, in turn, will contribute to the growth of the Cameroon Two-Wheeler Tire Market during the forecast period, further states the research report, “Cameroon Two-Wheeler Tire Market Analysis, 2024.

Segmentation Analysis

Scooter & Moped Segment Holds a Major Share of the Market

Based on the vehicle type, the market is further bifurcated into scooter & moped, and motorcycle. The scooter & moped segment holds a significant share of the Cameroon Two-Wheeler Tire market and it is anticipated to be in the leading position during the forecast period as well. These vehicles are preferred for urban commuting owing to their compact size, fuel efficiency, and ability to navigate congested city streets with ease. With urbanization rates on the rise in Cameroon, the demand for scooters and mopeds is anticipated to grow further. Moreover, quick delivery providers such as Uber Eats prioritize the use of mopeds and scooters in Cameroon, driving their sales in the country. Given that delivery services heavily rely on two-wheelers for their operations, there is a continuous requirement to maintain and replace tires due to the extensive mileage and intensive usage they undergo.

Additionally, the emergence of ride-sharing and delivery services in urban areas has increased the demand for scooters and mopeds. With these services increasingly adopting scooters and mopeds, there is a consistent requirement for tire replacement, driven by their rapid wear and tear due to extensive usage and high mileage. Thus, all these factors are positioning scooter & moped vehicle types in the dominant position in the Cameroon Two-Wheeler Tire Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Bridgestone Corporation, Goodyear Tire and Rubber Company (Dunlop), Michelin, Continental AG, Yokohama TWS (Mitas), Pirelli Tyre S.p.A, Metzeler, Shinko Tyres, Kenda Tires, and Others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the country?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping up across the country?
  6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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