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Press Release Description

Optimistic Growth in the Sales of Truck and Buses is Proliferating the South Africa MHCV Tire Market Growth

The South Africa Medium and Heavy Commercial Vehicle Tire market is expected grow at high rate in the forecasted period. The introduction of government initiative such as medium and heavy commercial vehicles automotive investment scheme in order to upsurge the domestic production is one of the major factors toward the growth of the market. Besides this, launch of online bus booking platform and optimistic growth in the sales of truck and buses is witnessed due to surge in domestic and export sales on account of new models and plans by the OEMs to increase sales volumes are projected to fuel the growth of the market in the near future.

According to MarkNtel Advisorsresearch reportSouth Africa Medium and Heavy Commercial Vehicle Tire Market Analysis, 2021”, the South Africa Medium and Heavy Commercial Vehicle Tire market is anticipated to grow at a CAGR of around 3.4% during 2021-26. Based on Vehicle Type, Trucks segment acquired the significant market share in 2020 owing to launch of new trucks. The truck market is witnessing robust growth due to boost in the production of trucks locally is driving the tire demand. Moreover, the increasing presence of the market player in the country via a launch of innovative truck tire are predicted to promulgate the growth of the segment in the near future.

“South Africa Medium and Heavy Commercial Vehicle Tire Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Medium and Heavy Commercial Vehicle Tire providers across the Globe. 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.      

Radial tire Attain Highest CAGR

Based on Type of Tire, Radial tire segment is projected to grow at a highest CAGR in the South Africa Medium and Heavy Commercial Vehicle Tire market during 2021-26. The tire companies inclining more towards the production of radial truck and bus tires due to growing demand among customer. Moreover, the set-up of truck and bus radial tire factory by the market player and introduction of electric bus and trucks are anticipated to bolster the growth of the Medium and Heavy Commercial Vehicle Tire Market in the forthcoming period as stated in MarkNtel Advisors’ research report “South Africa Medium and Heavy Commercial Vehicle Tire Market Analysis, 2021”. 

According to MarkNtel Advisors’, the key players with a considerable market share in the South Africa Medium and Heavy Commercial Vehicle Tire market are  Bridgestone, Sumitomo, Goodyear, Continental, Michelin, Hangzhou Zhongce Rubber, Triangle, Kumho, Yokohama, Pirelli etc.

Market Segmentation:

  1. By Vehicle Type (Bus, Truck [By Type of Truck {Semi-Trailer Trucks, Extra Duty Trucks, Tanker Trucks, Garbage Trucks, Dump Trucks, Others}])
  2. By Demand Type (OEM, Replacement)
  3. By Type of Tire (Radial, Bias)
  4. By Season (All Season, Summer)
  5. By Tube Categorization (Tubed, Tubeless)
  6. By Price Category (Budget, Economy, Premium),
  7. By Rim Size (Upto 20”, 20.1” to 22.5”, Above 22.5”)
  8. By Company (Bridgestone, Sumitomo, Goodyear, Continental, Michelin, Hangzhou Zhongce Rubber, Triangle, Kumho, Yokohama, Pirelli etc.)

Key questions answered in the study:

  1. What are the current and future trends of the Medium and Heavy Commercial Vehicle Tire industry?
  2. How the industry has been evolving in terms of end-user demand and application areas?
  3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
  4. What are the key growth drivers and challenges for the Medium and Heavy Commercial Vehicle Tire industry?
  5. What is the customer orientation, purchase behavior, and expectations from the Medium and Heavy Commercial Vehicle Tire firms across various regions?

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