Expansion of population and preference of individuals for private vehicles is mushrooming the demand for passenger vehicles. Growing economy and infrastructural development in the country would flourish the demand for tires as well.
According to MarkNtel Advisors’ research report “Sudan Tire Market Analysis, 2020”, the Sudan Tire market is expected to grow at a considerable CAGR during 2021-26. The tire market in Sudan is mushrooming on account of recovering domestic demand for vehicles, growing automobile sales and favorable government policies. The total population of Sudan was around 21.43 million in 2020. The demand for vehicles decreased in recent years. The total sales in the year 2019 was around 1,696 as compared to 3,400 in 2016.
Passenger Car Segment is Witnessing a Major Growth
Total Number of passenger cars in the country were 996 in 2019 as compared to the 2,400 in 2016. As the country is in its developing phase the individuals prefer public transport as compared to the passenger cars. However, demand for second hand cars and tires is witnessing an uptick. The demand for passenger cars is anticipated to outgrow other segments. Moreover, the construction activities in the country would help in the growth of OTR vehicles which in turn would aid in the demand for OTR tires.
Bias Segment Grabbed Lion’s Share
Bias tire held the majority market share in the Sudan tire market in 2020. But the preference for radial tires in passenger cars is accentuating. The ability of radial tires to consume less fuel due to less rolling resistance along with flexible sidewalls in comparison to bias tire has strongly contributed to the growth of the radial tire market as reveled by the MarkNtel Advisors’ research report “Sudan Tire Market Analysis, 2020”.
“Sudan Tire Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Sudan Tire providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
According to MarkNtel Advisors’, the key players with a considerable market share in the Sudan Tire market include MRF Limited, Bridgestone Middle East and Africa, Apollo Tyres, Michelin AIM FZE, CEAT Limited, Continental Aktiengesellschaft, Alliance Tire Co. Ltd., JK Tyre & Industries Ltd., Hangzhou Zhongce Rubber Co. LTD, Triangle Tyre Co. Ltd., etc.
Key questions answered in the study: