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Angola Tire Market Research Report: Forecast (2024-2030)

Angola Tire Market Report - By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Off the Road (OTR) Vehicles, Two Wheelers, Three Wheeler......s), By Demand Type (OEM, Aftermarket), By Type of Tire (Radial, Bias), By Tire Size (Tire Size-1, Tire Size-2, Tire Size-3, Tire Size-4, Tire Size-5), By Price Category (Budget, Economy, Premium), By Sales Channel (Multi-brand Stores, Exclusive Outlets, Online), and Others Read more

Tire
Sep 2024
Pages 154
Report Format: PDF, Excel, PPT

Market Definition

Tires are fitted on the rim of wheels and are made from rubber to provide resistance and protection from wear and tear. These are deployed widely for passenger vehicles, light-duty vehicles, and heavy-duty vehicles.

Market Insights & Analysis: Angola Tire Market (2024-30):

The Angola Tire Market is estimated to grow at a CAGR of around 11.6% during the forecast period. The increase in the adoption of various motor vehicles by consumers in the country has mainly fostered the growth in the market for Angola tires. Moreover, the steadily increasing employment rate in Angola is leading to the increasing purchasing power of consumers in the country, which in turn is leading to improved affordability. Eventually, surging the sales of personal vehicles. With all these factors, the adoption of personal vehicles is increasing. For Instance,

In 2022, passenger car sales in Angola amounted to nearly 2,300 units, increasing by around 1.5% from the previous year.

This surging adoption of vehicles has been increasing to on-road vehicles, thereby increasing demand for good quality and reliable tires. In addition to this, normal wear and tear of tires due to various adverse road conditions in some parts, coupled with replacement demand for tires every few years, has surged demand for aftermarket tires in vehicles, thereby propelling market growth in the country.

The entry of Chinese electric vehicle suppliers is transforming the automotive industry’s dynamics. Despite poor electric vehicle charging infrastructure, consumer traction towards EVs is soaring. In 2024, the sale of approximately 4,000 electric cars in Angola increased the adoption of electric vehicles by almost 100% compared to the previous year. The rising adoption of electric vehicles has been leading to an increase in the demand for electric vehicle-specific tires in the country. EV adoption has led to the growing demand for more efficient, high-performance, and durable tires, which accelerates market growth in the country.

Report Coverage	Details
Historical Years	2019-22
Base Years	2023
Forecast Years	2024-30
CAGR (2024-30)	11.6%
Top Key Players	Bridgestone Americas Tire Corporation, LLC, Continental Tire the Americas, LLC, Michelin Commercial Tires, The Goodyear Tire & Rubber Company, Hankook Tire & Technology Co., Ltd., Kumho Tire Co, Inc., JK Tyre & Industries, Pirelli Tyre S.p.A, Yokohama Rubber Co., Ltd., and Toyo Tire Corporation among others
Key Report Highlights	Market Dimensions & Projections Pricing Evaluation, Recent Strategic Moves by Companies, Primary Stakeholders, Analysis of Import and Export Trends, Competitive Landscape Assessment, Emerging Opportunities, Market Trends and Indicators

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In addition, the growing online shopping and food delivery service providers in the country have been strengthening the two-wheelers' demand. Tupuca and other food delivery companies offering doorstep deliveries to consumers from restaurants have been expanding their fleet size to accommodate growing daily orders. With an increase in this two-wheeler demand, the demand for tires has also been increasing, thereby surging the growth of the Angola Tire Market.

Angola Tire Market Driver:

Proliferating Mining Activities in the Country Propelling Tire Demand- The country's mining sector has been undergoing a burgeoning boom due to government programs and ample reserves of minerals in the country. The Angolan government is converting its natural resources into profitability by inviting the opportunity of investment and partnership to mining diamonds, iron ore, and several rare minerals in which the country holds large reserves from across the globe. This has consequently been accelerating the mining activities in the country. For instance, in 2023, Ivanhoe Mines started a greenfield mining exploration project in Angola over an area of around 22,195 km².

The surging activities in mining have proliferated the demand for mining equipment and transportation trucks. These machines are mainly operated in damaged and rough terrains. This is enhancing the demand for heavy and rugged Off-road tires to withstand heavy weights and harsh conditions. Furthermore, common wear and tear of off-road tires due to constant mobility on rugged terrains, the demand for the replacement of tires also surges in the country. Thus, with the increasing mining industry, the demand for tires is increasing in the country, driving the growth of the Angola Tire Market.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Angola Tire Market Trends & Developments
Angola Tire Market Dynamics
1. Drivers
2. Challenges
Angola Tire Market Regulations, Policies and Standards
Angola Tire Hotspot and Opportunities
Angola Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Unit Sold (Thousand Units)
2. Market Size & Analysis
  1. By Vehicle Type
    1. Passenger Cars- Market Size & Forecast 2019-2030F, Thousand Units
    2. Light Commercial Vehicles- Market Size & Forecast 2019-2030F, Thousand Units
    3. Medium & Heavy Commercial Vehicles- Market Size & Forecast 2019-2030F, Thousand Units
    4. Off the Road (OTR) Vehicles- Market Size & Forecast 2019-2030F, Thousand Units
    5. Two Wheelers- Market Size & Forecast 2019-2030F, Thousand Units
    6. Three Wheelers- Market Size & Forecast 2019-2030F, Thousand Units
  2. By Demand Type
    1. OEM- Market Size & Forecast 2019-2030F, Thousand Units
    2. Aftermarket- Market Size & Forecast 2019-2030F, Thousand Units
  3. By Type of Tire
    1. Radial- Market Size & Forecast 2019-2030F, Thousand Units
    2. Bias- Market Size & Forecast 2019-2030F, Thousand Units
  4. By Tire Size
    1. Tire Size-1- Market Size & Forecast 2019-2030F, Thousand Units
    2. Tire Size-2- Market Size & Forecast 2019-2030F, Thousand Units
    3. Tire Size-3- Market Size & Forecast 2019-2030F, Thousand Units
    4. Tire Size-4- Market Size & Forecast 2019-2030F, Thousand Units
    5. Tire Size-5- Market Size & Forecast 2019-2030F, Thousand Units
  5. By Price Category
    1. Budget- Market Size & Forecast 2019-2030F, Thousand Units
    2. Economy- Market Size & Forecast 2019-2030F, Thousand Units
    3. Premium- Market Size & Forecast 2019-2030F, Thousand Units
  6. By Sales Channel
    1. Multi-brand Stores- Market Size & Forecast 2019-2030F, Thousand Units
    2. Exclusive Outlets- Market Size & Forecast 2019-2030F, Thousand Units
    3. Online- Market Size & Forecast 2019-2030F, Thousand Units
  7. By Competition
    1. Competition Characteristics
    2. Market Share Analysis
Angola Passenger Car Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Size & Analysis
  1. By Type- Market Size & Forecast 2019-2030F, Thousand Units
    1. Sedan- Market Size & Forecast 2019-2030F, Thousand Units
    2. SUV- Market Size & Forecast 2019-2030F, Thousand Units
    3. Hatchback- Market Size & Forecast 2019-2030F, Thousand Units
  2. By Demand Type - Market Size & Forecast 2019-2030F, Thousand Units
  3. By Type of Tire- Market Size & Forecast 2019-2030F, Thousand Units
  4. By Season- Market Size & Forecast 2019-2030F, Thousand Units
  5. By Tire Size- Market Size & Forecast 2019-2030F, Thousand Units
  6. By Price Category- Market Size & Forecast 2019-2030F, Thousand Units
  7. By Sales Channel- Market Size & Forecast 2019-2030F, Thousand Units
Angola Light Commercial Vehicle Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Size & Analysis
  1. By Type- Market Size & Forecast 2019-2030F, Thousand Units
    1. Light Trucks- Market Size & Forecast 2019-2030F, Thousand Units
    2. Light Buses- Market Size & Forecast 2019-2030F, Thousand Units
    3. Pick-up Trucks and Vans- Market Size & Forecast 2019-2030F, Thousand Units
  2. By Demand Type - Market Size & Forecast 2019-2030F, Thousand Units
  3. By Type of Tire- Market Size & Forecast 2019-2030F, Thousand Units
  4. By Season- Market Size & Forecast 2019-2030F, Thousand Units
  5. By Tire Size- Market Size & Forecast 2019-2030F, Thousand Units
  6. By Price Category- Market Size & Forecast 2019-2030F, Thousand Units
  7. By Sales Channel- Market Size & Forecast 2019-2030F, Thousand Units
Angola Medium-Heavy Commercial Vehicle Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Size & Analysis
  1. By Type- Market Size & Forecast 2019-2030F, Thousand Units
    1. Trucks- Market Size & Forecast 2019-2030F, Thousand Units
    2. Buses- Market Size & Forecast 2019-2030F, Thousand Units
  2. By Demand Type - Market Size & Forecast 2019-2030F, Thousand Units
  3. By Type of Tire- Market Size & Forecast 2019-2030F, Thousand Units
  4. By Season- Market Size & Forecast 2019-2030F, Thousand Units
  5. By Tire Size- Market Size & Forecast 2019-2030F, Thousand Units
  6. By Price Category- Market Size & Forecast 2019-2030F, Thousand Units
  7. By Sales Channel- Market Size & Forecast 2019-2030F, Thousand Units
Angola Off-the-Road (OTR) Vehicle Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Size & Analysis
  1. By Type- Market Size & Forecast 2019-2030F, Thousand Units
    1. Earthmoving Equipment- Market Size & Forecast 2019-2030F, Thousand Units
    2. Construction Vehicles- Market Size & Forecast 2019-2030F, Thousand Units
    3. Agricultural Vehicles- Market Size & Forecast 2019-2030F, Thousand Units
    4. Material Handling Vehicles- Market Size & Forecast 2019-2030F, Thousand Units
  2. By Demand Type - Market Size & Forecast 2019-2030F, Thousand Units
  3. By Type of Tire- Market Size & Forecast 2019-2030F, Thousand Units
  4. By Season- Market Size & Forecast 2019-2030F, Thousand Units
  5. By Tire Size- Market Size & Forecast 2019-2030F, Thousand Units
  6. By Price Category- Market Size & Forecast 2019-2030F, Thousand Units
  7. By Sales Channel- Market Size & Forecast 2019-2030F, Thousand Units
Angola Two-Wheeler Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Size & Analysis
  1. By Type- Market Size & Forecast 2019-2030F, Thousand Units
    1. Scooters- Market Size & Forecast 2019-2030F, Thousand Units
    2. Mopeds- Market Size & Forecast 2019-2030F, Thousand Units
    3. Motorcycles- Market Size & Forecast 2019-2030F, Thousand Units
  2. By Demand Type - Market Size & Forecast 2019-2030F, Thousand Units
  3. By Type of Tire- Market Size & Forecast 2019-2030F, Thousand Units
  4. By Season- Market Size & Forecast 2019-2030F, Thousand Units
  5. By Tire Size- Market Size & Forecast 2019-2030F, Thousand Units
  6. By Price Category- Market Size & Forecast 2019-2030F, Thousand Units
  7. By Sales Channel- Market Size & Forecast 2019-2030F, Thousand Units
Angola Three-Wheeler Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Units Sold (Thousand Units)
2. Market Size & Analysis
  1. By Type- Market Size & Forecast 2019-2030F, Thousand Units
    1. Passenger Carrier- Market Size & Forecast 2019-2030F, Thousand Units
    2. Load Carrier- Market Size & Forecast 2019-2030F, Thousand Units
  2. By Demand Type - Market Size & Forecast 2019-2030F, Thousand Units
  3. By Type of Tire- Market Size & Forecast 2019-2030F, Thousand Units
  4. By Season- Market Size & Forecast 2019-2030F, Thousand Units
  5. By Tire Size- Market Size & Forecast 2019-2030F, Thousand Units
  6. By Price Category- Market Size & Forecast 2019-2030F, Thousand Units
  7. By Sales Channel- Market Size & Forecast 2019-2030F, Thousand Units
Angola Tire Market Key Strategic Imperatives for Growth & Success
Competitive Outlook
1. Company Profiles
  1. Bridgestone Americas Tire Corporation, LLC
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Continental Tire the Americas, LLC.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Michelin Commercial Tires
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. The Goodyear Tire & Rubber Company
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Hankook Tire & Technology Co., Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others.
  6. Kumho Tire Co, Inc.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. JK Tyre & Industries
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Pirelli Tyre S.p.A
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Yokohama Rubber Co., Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Toyo Tire Corporation
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
Disclaimer

MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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