Press Release

Kenya Tow-Wheeler Tire Market Record a CAGR of 13.06% Through 2030

The Kenya Tow-Wheeler Tire Market is projected to grow at a CAGR of 13.06% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market's growth is driven by the increasing sales of motorcycles, especially in the boda boda sector where motorcycles are used as taxis, and the shift towards electric mobility in Kenya. The country has seen a significant rise in motorcycle sales, particularly in the boda boda industry, where motorcycles are vital for public transportation and contribute significantly to the economy. This surge in motorcycle sales and their use as taxis has led to a higher demand for replacement tires due to the increased wear and tear on these vehicles.

 

Kenya is also moving towards electric motorcycles, seen as a way to provide financial benefits to owners and riders while addressing environmental concerns. Startups like Kiri Evs and Fika Mobility are helping this transition by introducing innovative financing options and easing concerns about battery range through services like battery swap.

Moreover, Kenya is increasingly focusing on sustainable mobility, with various initiatives and regulations in place. The shift towards electric motorcycles is expected to boost the demand for replacement two-wheeler tires in the future, aligning with the country's embrace of more sustainable transportation options, further states the research report, “Kenya Tow-Wheeler Tire Market Analysis, 2024.”

Kenya Tow-Wheeler Tire Market Segmentation Analysis

Motorcycles to Dominate the Kenya Two-Wheeler Tire Market

Based on the vehicle type segment, the market is further bifurcated into, Scooter & Moped and Motorcycles. Among these, Motorcycles hold a substantial market share and are anticipated to uphold their predominant position in the foreseeable future. Kenya's transportation infrastructure, particularly in rural areas, faces limitations, and the absence of well-established public transport has led to the widespread utilization of motorcycles in various parts of the country. This extensive dependence on motorcycles for commuting and transportation requirements has significantly bolstered the demand for the two-wheeler tire market in Kenya.

Replacement to Account for a Major Share of the Market

Based on the demand type segment, the market is further bifurcated into, OEMs and Replacement. Off them, that Replacement segment would constitute the majority of the market share in the upcoming years. The widespread utilization of motorcycles across diverse terrains and challenging road conditions in Kenya results in the accelerated wear and tear of tires. The high intensity of usage, particularly in rural areas with inadequate road infrastructure, contributes to the frequent need for tire replacements.

Additionally, Kenya's diverse climates, characterized by varying weather conditions and temperature extremes, exert an impact on tire durability. Also, the increasing awareness among consumers regarding the significance of routine maintenance, encompassing tire replacements, fosters a proactive attitude toward vehicle care. This trend is expected to further elevate the replacement segment's share in the market in the coming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Bridgestone Corporation, Michelin, Continental AG, Yokohama TWS (Mitas), Pirelli Tyre S.p.A, Dunlop Tyres, MRF, Shinko Tyres, CEAT, and Others, are looking forward to strengthening their market position.

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 Kenya Tow-Wheeler Tire 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 across the country?
6. How has the 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?