Well-Established Road Infrastructure in Namibia to Fuel the Tire Market Growth

According to a recent research report published by MarkNtel Advisors, the Namibia Tire Market is expecting around 4% CAGR during 2021-26, owing to the improving economic conditions of people & their rapid inclination toward private vehicle ownership. It, in turn, is demonstrating a swift rise in the vehicle fleet throughout the country and an accelerating demand for tires.

Besides, as the government is actively participating in infrastructural development for the country, there are various ongoing & upcoming construction projects, leading to the growing production & sales of medium & heavy commercial vehicles and the robust Off-the-Road (OTR) tires. 

Moreover, the well-established road connectivity in Namibia is another crucial aspect contributing to the mounting adoption of vehicles for easy traveling and, consequently, portraying a burgeoning demand for tires, thereby augmenting the overall market growth, further cites the research report, “Namibia Tire Market Analysis, 2021.”

Burgeoning Sales of Passenger Cars to Boost Tire Imports through 2026

With the significantly increasing disposable income and improving living standards, people are showing a greater interest in private vehicle ownership, which is why passenger cars are witnessing a rapid rise in sales across Namibia. Moreover, the well-established road infrastructure that offers easy traveling throughout the country is another prominent aspect leading to the burgeoning sales of passenger cars & their tires. As a result, the leading players in the market are increasing their import & distribution capacities to meet the rising consumer requirements, which project remunerative prospects for the market through 2026, reveals MarkNtel Advisors in their research report, "Namibia Tire Market Analysis, 2021."

Competitive Landscape

The leading players in the Namibia Tire Market include Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, & CST Tires.

Key Questions Answered in the Research Report:

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

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 Region (AI Khor, Ad Dawhah, AI Wakrah, AI Rayyan)
9. By Competitors (Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, CST Tires)