South Africa MHCV Tire Market Analysis, 2021 research report depicts a deep dive market analysis of statistics of South Africa MHCV Tire market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR(2021-26) | 3.4% |
| Key Companies Profiled | Bridgestone, Sumitomo, Goodyear, Continental, Michelin, Hangzhou Zhongce Rubber, Triangle, Kumho, Yokohama, Pirelli, etc. |
| Unit Denominations | USD Million/Billion |
Market Opportunities
According to MarkNtel Advisors’ research report “South Africa MHCV Tire Market Analysis, 2021”, the South Africa MHCV Tire market is anticipated to grow at a CAGR of around 3.4% during 2021-26F. The growth of the market is attributed to burgeoning investment by the market players to set up truck, bus tire plant, the launch of innovative truck tires, and boost in the production of a truck tire in the country due to upsurge in the production of trucks locally and burgeoning domestic and export sales of the trucks. Moreover, the rising government inclination to curb carbon emission is propelling the demand for an electric commercial vehicle such as an electric bus for urban transportation along with the launch of an electric bus factory are the factors placing a lucrative opportunity for the growth of the market in the forecast period.
Market Segmentation
OEMs Witnessing Robust Growth
Based on Demand Type, OEMs is witnessing growth in the South Africa MHCV Tire in 2020. This is due to the burgeoning production of trucks and buses due to propelling domestic demand, increasing government inclination towards electric buses for urban transportation to curb emission rate and surging investment to launch electric bus factory in the country. However, this is further anticipated to upsurge the market share of replacement demand in the coming years. Thus, this is anticipated to drive the growth of the Medium and Heavy Commercial Vehicle Tire market globally in the near future as revealed by the MarkNtel Advisors’ research report “South Africa MHCV Tire Market Analysis, 2021”.
