Press Release Description

Rising Traffic Congestion & Surging Tourists Arrivals Fueling the Tanzania Two-Wheeler Tire Market

The Tanzania Two-Wheeler Tire Market is anticipated to grow at a CAGR of about 13.43% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. Persistent traffic congestion is a significant challenge in various Tanzanian cities, including Dar es Salaam and Mwanza, primarily due to inadequate road infrastructure. The rapid pace of urbanization and population growth has resulted in a notable increase in vehicle ownership, placing additional strain on the already stretched road networks. Compounding the issue, the limited availability of public transportation options has heightened the reliance on private vehicles, further intensifying congestion. Consequently, the heightened traffic congestion has prompted individuals to seek alternative modes of commuting, leading to a growing preference for motorcycles and scooters. This shift in transportation choices has, in turn, fueled an increased demand for two-wheeler tires designed for these vehicles, thereby contributing to the growth & expansion of the market.

Additionally, the burgeoning tourism industry in Tanzania has played a significant role in the expansion of the two-wheeler tire market. The country's diverse attractions, including iconic landmarks like Mount Kilimanjaro and Serengeti National Park, have drawn a considerable influx of tourists. Furthermore, Tanzania's rich cultural heritage, coupled with historic sites like Stone Town, offers a unique and compelling range of experiences for visitors, contributing to the remarkable growth in the tourism sector. In 2023, tourist arrivals to Tanzania increased by 24.3% to a record-breaking 1,808,205 from 1,454,920 tourists in 2022. The surge in tourist numbers has led to an increased demand for rental motorcycles and scooters.

Companies such as Riderly and Moshi now provide rental services for two-wheelers, contributing to heightened sales of motorcycles and scooters in the country. Given that rental bikes and scooters are subjected to wear and tear on various terrains, there is an anticipated need for tire replacement in the coming years. This is driven by the increased usage and diverse conditions these rental vehicles encounter, creating a sustained demand for replacement tires in the market, further states the research report, Tanzania Two-Wheeler Tire Market Analysis, 2024.”

Tanzania Two-Wheeler Tire Market

Segmentation Analysis

The Motorcycle Segment Holds a Major Market Share

Based on the vehicle type segment, the market is further bifurcated into, scooter & moped, and motorcycle. The motorcycle segment holds a significant share and is anticipated to be in a similar trend during the forecast period due to the increased demand for motorcycle taxi services and the rise of food delivery companies in Tanzania. Motorcycle taxis, locally known as "boda-bodas," have become a popular and efficient means of navigating congested roads, contributing to a significant surge in their demand.

The prevalence of digital platforms and mobile applications has further facilitated the easy hailing of motorcycle taxis through technology, making them a prominent and sought-after mode of transportation in Tanzania. As the demand for boda-bodas continues to rise, particularly driven by the convenience offered by technology-enabled hailing, there has been a notable increase in the need for replacement tires for motorcycles in the past few years. This heightened demand for replacement tires can be attributed to the frequent use of motorcycles in services such as taxiing and food delivery, necessitating regular replacements due to wear and tear associated with diverse road conditions.

Moreover, the enhanced economic status of the country has spurred the growth of the middle class and a rise in disposable income. The World Bank's announcement in 2020, upgrading Tanzania's economy from a low-income to a lower-middle-income status, has played a pivotal role. This economic advancement has resulted in heightened purchasing power among Tanzanians, allowing a larger segment of the population to afford motorcycles.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Bridgestone Corporation, Michelin, Dunlop Tyres, Continental AG, Metzeler, Pirelli Tyre S.p.A, Inoue Rubber Co., Ltd., MRF, Shinko Tyres, CEAT, and others are looking forward to strengthening their market positions.

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 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 up across the country?
  6. How have 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?

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