Easy Availability of Low-cost Tires in Kenya to Boost the Tire Market

The Kenya Tire Market is expecting around 5.5% CAGR during 2021-26, cites MarkNtel Advisors in their recent research report. The mounting sales of vehicles owing to the gradually improving economic conditions & changing living standards of people, i.e., displaying a greater inclination toward private vehicle ownership, is the prime aspect driving the tire market in Kenya.

Besides, increasing imports of vehicles & tires are also helping in the market expansion of tires in the country. Moreover, favorable policies by the government are also generating growth opportunities for the leading players to extensively manufacture & distribute tires across the country and augment the market growth through 2026.

Several tire manufacturers are seeking the production of low-cost tires to beat the cost of competitors and meet the requirements of cost-sensitive customers. In addition, the rising competition between the Chinese low-cost & American & European tires and their imports in Kenya is also contributing considerably to the market growth, further states the research report, “Kenya Tire Market Analysis, 2021.”

Increasing Private Vehicle Ownerships to Significantly Boost the Tire Market through 2026

Passenger cars are likely to continue their dominance with the largest share in the Kenya Tire Market during the forecast period. It attributes to the increasing private ownership of vehicles, entwined with the overall improving economy of the country, changing living standards, and growing purchasing power of people.

Besides, the mounting awareness among private vehicle owners about the importance of timely maintenance & replacement of tires is another crucial aspect driving the market. Nonetheless, the escalating passenger car fleet shall remain a prevalent factor attributing to the dominance of passenger cars in the market through 2026, reveals MarkNtel Advisors in their research report, "Kenya Tire Market Analysis, 2021."

Competitive Landscape

The leading players in the Kenya Tire Market are Michelin Kenya Sdn Bhd, Giti Tire Pte. Ltd., MRF, Pirelli & C.S. p.a, Goodyear Tire & Rubber Industries, Sumitomo Rubber Industries, Ltd., Maxxis Tires Kenya, Kumho Tyre, Apollo Tyres Ltd., and Bridgestone Middle East & Africa FZE.

Key Questions Answered in the Research Report

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

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 (Michelin Kenya Sdn Bhd, Giti Tire Pte. Ltd., MRF, Pirelli & C.S. p.a, Goodyear Tire & Rubber Industries, Sumitomo Rubber Industries, Ltd., Maxxis Tires Kenya, Kumho Tyre, Apollo Tyres Ltd., Bridgestone Middle East & Africa FZE)