The Sudan Tire Market is expecting a considerable growth rate during 2022-27, states MarkNtel Advisors in their recent research report. The improving economic conditions of people & their changing living standards, i.e., showcasing a swift inclination of them toward private vehicle ownerships, is boosting vehicle sales in the country and, in turn, positively influencing the tire market.
Besides, the escalating government focus on infrastructural developments, i.e., projecting rigorous construction activities related to highways, residential complexes, airports, etc., and propelling the demand for heavy commercial vehicles, is another crucial aspect boosting the tire industry of Sudan.
Moreover, various favorable government policies, the massive inflow of foreign direct investments, and the active participation of prominent tire manufacturers in introducing new tire models are also expected to stimulate the overall market expansion in the coming years, further states the research report, “Sudan Tire Market Analysis, 2022.”
Burgeoning Sales of Passenger Cars to Contribute Significantly to the Market Growth
In recent years, passenger cars are witnessing an ever-increasing demand in Sudan and have dominated the Tire Market with the largest share. Several domestic & foreign automotive OEMs are planning to expand their production units in Sudan. Moreover, the government of Sudan is encouraging the flow of FDIs into the automotive sector. These aspects indicate a positive outlook for Sudan's economy, owing to which vehicle sales are significantly increasing across the country.
The increasing disposable income of people & their growing customer preference for purchasing second-hand cars, coupled with improving road conditions & rapid infrastructural developments, are leading to surging private vehicle ownerships in Sudan. It, in turn, is increasing the passenger vehicle fleet across the country and positively influencing the tire market, reveals MarkNtel Advisors in their research report, "Sudan Tire Market Analysis, 2022."
The leading players in the Sudan Tire Market are MRF Limited, Bridgestone Middle East and Africa, Apollo Tyres, Michelin AIM FZE, CEAT Limited, Continental Aktiengesellschaft, Alliance Tire Co. Ltd., JK Tyre & Industries Ltd., Hangzhou Zhongce Rubber Co., LTD., and Triangle Tyre Co. Ltd.
Key Questions Answered in the Research Report: