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Vietnam Truck & Bus Tire Market Research Report: Forecast (2024-2030)

Vietnam Truck & Bus Tire Market Share - By Vehicle Type (Truck, Bus), By Demand Type (OEM, Aftermarket), By Tire Type (Radial, Bias), By Tire Size (Tire Size 1, Tire Size 2, Tire S......ize 3, Tire Size 4, Tire Size 5, By Price Category (Budget (Upto USD 180), Economy (USD181 to 300), Premium (Above 300)), By Sales Channel (Direct Sales, Exclusive Outlets, Multi Brand Stores, Online), and Others Read more

Tire
Jul 2024
Pages 135
Report Format: PDF, Excel, PPT

Market Insights & Analysis: Vietnam Truck & Bus Tire Market (2024-30):

The Vietnam Truck & Bus Tire Market size is valued at around USD 384 million in 2024 & is estimated to grow at a CAGR of around 5.86% during the forecast period, i.e., 2024-30. The country's elevated infrastructure has increased passenger and cargo movement. The nation's demand for goods and passenger transportation has expanded due to the financial boom and urbanization, that have sped up infrastructure development. These projects, which consist of building new roads, increasing present ones, and enhancing the transportation network, are all planned to grow connectivity and inspire the effective motion of people and products in the country. According to OICA, sales of commercial vehicles in Vietnam grew at a CAGR of about 2.7% during 2019-23. Nearly 241,978 commercial vehicles (LCV, MHCV) were registered in the country during 2019-23. This good-sized addition to the modern fleet of commercial vehicles is predicted to reinforce the demand for truck and bus tires during the forecast period.

Vietnam is strategically situated on one of the busiest transport routes in the world. The country would operate three of the world’s busiest 50 ports in 2024, in terms of cargo throughput. Also, it shares a land border with peripheral nations such as Laos, and Cambodia who has a high dependence on Vietnam goods. These goods are only transported via land to both the countries using medium and heavy trucks. So, this geographical advantage amounts to perennial demand for commercial vehicles, and eventually commercial vehicle tires in the country. Hence, significant growth & expansion is projected for the Vietnam Truck & Bus Tire Industry in the coming years.

Report Coverage	Details
Study Period	Historical Data: 2019-22
	Base Year: 2023
	Forecast Period: 2024-30
CAGR (2024-2030)	5.86%
Region Covered	Central, East, West, South
Key Companies Profiled	Bridgestone Corporation, Michelin, Casumina (Southern Rubber Industry Joint Stock Company), Sailun, Goodyear, Yokohama Rubber Co. Ltd., Zhongce Rubber Group Co., Ltd., Kumho Tire, Kenda, Hankook, DRC Tire, China’s Guizhou Tyre, Jinhu Tire and others
Market Value In 2024	USD 384 Million

Vietnam Truck & Bus Tire Market Driver:

Surge in Infrastructure Development Activities Driving Market Growth – Vietnam is planning to spend around USD 65 billion on infrastructure development during 2021-30. The nation plans to build expressways, railway lines, ports, airports, etc., under its Master Plan 2030. Vietnam is making plans to develop around 10,000 km of expressways for high-paced transportation. Additionally, the country is running closer to putting in place dams, thermal power plants, and warehouses for the well-timed shipping of products. The enlargement of cities to deal with the developing wishes of the urban population is contributing to the growth & development of trucks and buses in the country. Therefore, the aftermarket sale of tires for these automobiles is predicted to grow in the years to come.

Market Segmentation
Introduction
1. Product Definition
2. Research Process
3. Assumptions
Executive Summary
Vietnam Truck & Bus Tire Market Trends & Developments
Vietnam Truck & Bus Tire Market Dynamics
1. Drivers
2. Challenges
Vietnam Truck & Bus Tire Import & Export Analysis, 2019-2023
Vietnam Truck & Bus Tire Market Supply Chain Analysis
Vietnam Truck & Bus Tire Market Regulations, Policies and Standards
Vietnam Truck & Bus Tire Hotspot and Opportunities
Vietnam Truck & Bus Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Unit Sold (Thousand)
2. Market Size & Analysis
  1. By Vehicle Type
    1. Truck- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Bus- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  2. By Demand Type
    1. OEM - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Aftermarket - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  3. By Tire Type
    1. Radial - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Bias - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  4. By Tire Size
    1. Tire Size 1- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Tire Size 2- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    3. Tire Size 3-Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    4. Tire Size 4-Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    5. Tire Size 5-Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  5. By Price Category
    1. Budget (Upto USD 180)- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Economy (USD181 to 300)- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    3. Premium (Above 300)- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  6. By Sales Channel
    1. Direct Sales- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Exclusive Outlets- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    3. Multi Brand Stores- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    4. Online- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  7. By Region
    1. Central
    2. East
    3. West
    4. South
  8. By Competition
    1. Competition Characteristics
    2. Market Share Analysis
Vietnam Truck Tire Market Outlook, 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Unit Sold (Thousand)
2. Market Size & Analysis
  1. By Truck Type
    1. Light Duty Trucks- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Medium Duty Trucks- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    3. Heavy Duty Trucks- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  2. By Demand Type - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  3. By Tire Type - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  4. By Sales Channel- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  5. By Tire Size- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  6. By Price Category- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
Vietnam Bus Tire Market Outlook 2019-2030F
1. Market Size & Analysis
  1. By Revenues (USD Million)
  2. By Unit Sold (Thousand)
2. Market Size & Analysis
  1. By Bus Type
    1. Light/Mini Buses - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
    2. Heavy Buses- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  2. By Demand Type - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  3. By Tire Type - Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  4. By Sales Channel- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  5. By Tire Size- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
  6. By Price Category- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
Vietnam Truck & Bus Tire Market Key Strategic Imperatives for Growth & Success
Competitive Outlook
1. Company Profiles
  1. Bridgestone Corporation
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  2. Michelin
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  3. Casumina (Southern Rubber Industry Joint Stock Company)
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  4. Sailun
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  5. Kenda
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others.
  6. Kumho Tire
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  7. Zhongce Rubber Group Co., Ltd.
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  8. Hankook
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  9. Goodyear
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  10. Yokohama Rubber Company
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  11. DRC Tire
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  12. China’s Guizhou Tyre
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  13. Jinhu Tire
    1. Business Description
    2. Product Portfolio
    3. Strategic Alliances or Partnerships
    4. Recent Developments
    5. Financial Details
    6. Others
  14. 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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