The Ethiopia tire market is anticipated to snowball in the forecasted period owing to the surging demand for passenger cars and two-wheeler in the rural and small-town roads of Ethiopia as is it is the most affordable forms of motorized transport in the country. Apart from this, the food delivery companies are securing investment to meet the increasing demand in delivery service in the capital. Thus, this would bolster the demand for tires and further spur the replacement demand for tire in the forthcoming period.
According to MarkNtel Advisors’ research report “Ethiopia Tire Market Analysis, 2020”, the Ethiopia Tire market is expected to grow at a considerable CAGR during 2021-26. Due to the COVID-19 there has been a negative impact on the tire market resulted in the delay in the shipment of tires and vehicles from the neighboring country on account of closed border. Thereby, the demand for tires would witness a sharp decline during April’20 till Aug’20.
Replacement Segment is Witnessing a Major Growth
Thus, the growing pace of the two-wheeler vehicles in the country is projected to promulgate the OEM demand for tire with 10’ rim size in the forthcoming years. The replacement demand for the above 16’ rim size tire captured the highest market share in the Ethiopia tire market. Due to the galvanizing use of passenger vehicles which is mostly imported from India are equipped with a tire which has a rim size 17’. Thus, it is anticipated to promulgate the replacement demand for tire in the tire market in the forthcoming years.
Multi-Brand Store Segment Dominated the Market
The Multi-brand store and exclusive outlet sales channel captured the lion share in the market as the population in the country prefer more on buying tires from the physical store. However, the country doesn’t have many sole brand distributor thus, it attracts the buyer by giving various offer to the customers such as discount, etc. Moreover, the online sales distribution of tires is not much popular in the country due to low e-commerce platform for the sales of tire. However, with escalating end-to-end customer e-commerce platform in the country is predicted to boost the online sales of tire in the coming years. The segment would continue to spur throughout 2026 as revealed by the MarkNtel Advisors’ research report “Ethiopia Tire Market Analysis, 2020”.
“Ethiopia Tire Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Ethiopia Tire providers across the region. 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.
According to MarkNtel Advisors’, the key players with a considerable market share in the Ethiopia Tire market include Goodyear Tire & Rubber Co., Pirelli &C. SpA, Continental AG, Michelin, Apollo Tyres Ltd., Sumitomo Rubber Industries Ltd., CEAT Tire Ltd., Maxxis International, Bridgestone Corp., MRF Ltd., Etc.
Key questions answered in the study: