Press Release

Rising Vehicle Ownerships in South Africa to Promote the Tire Industry Growth through 2028

The South Africa Tire Market is expecting around 4.5% CAGR during 2023-28, cites MarkNtel Advisors in their recent research report. It attributes primarily to the rapidly increasing vehicle sales due to the improving economic conditions and the growing number of vehicle ownerships across South Africa. In addition, customers becoming more aware of the benefits of timely maintenance & replacement of tires for a convenient, safe, & efficient driving experience is another crucial aspect driving the market.

Earlier, Europe had a monopoly over the South Africa Tire Market as many European tire companies were top-selling tires. However, Chinese tires are gaining immense popularity in the country. As end-users in South Africa are price-sensitive & prefer imported low-priced Chinese tires over the expensive European & American brands, China has emerged as a leading tire exporter to the rainbow nation.

Since the tire industry in South Africa is mainly import-driven, the tire distributor & dealer networks are rapidly expanding in the country and, in turn, boosting tire sales. Moreover, the cutting-edge manufacturing technologies used by OEMs (Original Equipment Manufacturers) to offer high-quality tires while maintaining sustainability, durability, & affordability is another crucial aspect projected to boost the market in the coming years, further states the research report, "South Africa Tire Market Analysis, 2023."

New Tire Upgrades at OEMs to Augment the Market Growth through 2028

OEMs (Original Equipment Manufacturers) are projected to observe substantial market growth during the forecast period. It owes to the increasing establishment of prominent tire manufacturers, resulting in an escalating number of tire imports & exports, coupled with growing consumer preference toward purchasing original tires from authorized OEMs.

Additionally, the increasing sales of vehicles throughout South Africa is another crucial aspect positively impacting the demand for tires at OEMs & driving the market. Besides, with constant upgrades in vehicles & tires, consumers are displaying a growing interest in OEMs, principally due to offerings like high performance, enhanced handling & acceleration, and improved grip on roads. Hence, the market is anticipated to witness an upswing with increasing sales of tires from OEMs in the coming years.

Shifting Preference Toward Green Tires for Environment Sustainability to Drive the Market

Since the automotive industry is amongst the largest producers of carbon emissions, several automakers across South Africa are seeking alternatives that can enable them to reduce & curb carbon emissions. Hence, prominent tire manufacturers are developing Green Tires to replace the use of rubber with plasticizers like resin, silica, & silane. These tires are very likely to exhibit various capabilities like enhanced safety, lower rolling resistance, & better grip, especially while cornering & applying brakes on different terrains. Hence, the rising shift of tire manufacturers toward producing green tires to achieve environmental sustainability in South Africa would yield significant growth opportunities for the market in the coming years, reveals MarkNtel Advisors in their research report, "South Africa Tire Market Analysis, 2023."

Competitive Landscape

According to MarkNtel Advisors, the leading players in the South Africa Tire Market are Pirelli Tires, Bridgestone Tyres, Sumitomo Rubber South Africa (PTY) Ltd., Continental Tires, Hangzhou Zhongce Rubber, Goodyear Tires, CEAT Tyres, Triangle Tyres, Michelin Tyres, Maxxis Tyres, Yokohama Rubber Company, Others.

Key Questions Answered in the Study

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

Market Segmentation:

1. By Vehicle Type (Passenger Car, Commercial Vehicle, Two Wheeler, Three Wheeler)
2. By Price Category (Budget, Economy, Premium)
3. By Sales channel (Online, Direct Sales, Multi-Brand Stores, Exclusive Outlets)
4. By Demand Type (OEM’s, Aftermarket)
5. By Tire Type (Radial, Bias)
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 Region (East,North, Central, South, West)