Angola Tire

Angola Tire Market Research Report: Forecast (2021-2026)

By Vehicle Type (Scooter and Moped, Motorbike), By Installation (OEM, Replacement), By Type of Tire (Bias, Radial), By Rim Size (10” to 16”, Above 15”, Above 16”), By Price Category (Low, Medi Read more

  • Tire
  • Nov 2021
  • 154
  • TR10235

Market Overview

The tire industry of Angola is import-driven since the country lacks tire manufacturing units and is sustaining with aftermarkets & imports of tires. As a result, the government is working on improving its trade business and enhancing the country's infrastructure to attract foreign investments & leading companies to establish tire manufacturing plants, which, in turn, would lead to steady growth for the tire industry in the coming years.

Market Insights

The Angola Tire Market is projected to grow at a CAGR of around 12% during the forecast period, i.e., 2021-26. The growth of the market is likely to be driven principally by the increasing government focus on infrastructural developments associated with highways, railway stations, etc., which, in turn, is propelling the demand for industrial equipment, including earthmoving, material handling, etc., and, consequently, for tires. 

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR(2021-26) 12%
Key Companies Profiled Bridgestone Corp., Continental Tires, Dayton Tires, Firestone Tires, BF Goodrich Tires, Cooper Tires, Dunlop Tires, Goodyear, Hankook, Kumho Tires, etc.
Unit Denominations USD Million/Billion

 

Besides, since the country is rich in diamonds & oil, the government is laying out several mining projects in Angola and directly influencing the demand for mining equipment & robust tires for them. Moreover, owing to the unavailability of manufacturing facilities & Original Equipment Manufacturers (OEM), the cross-border trade mechanism is also driving the tire industry in Angola.

As a result, the government is demonstrating several favorable policies to attract foreign investments & enable the leading tire manufacturers to establish their units in the country, and enhance the transportation & logistic chains to boost the tire industry & fuel the country's economy in the coming years.

Impact of Covid-19 on the Angola Tire Market

The advent of Covid-19 in 2020 had a decelerating impact on most industries across Angola, and the automotive & tire markets witnessed catastrophic effects, with several unprecedented challenges, especially with the imposition of stringent movement restrictions & lockdowns by the government to curb the spread of this dreadful disease. These restrictions that affected the transportation & logistic chains in the country also hampered the distribution of tires.

Besides, as the tire market in the country is driven primarily by cross-border trade & exports, hindrance in these channels resulted in the unavailability of tires and massive financial losses for the leading players in the industry. Moreover, since Angola does not have manufacturing facilities for tire production, its dependence on trade was severely affected amidst the crisis.

Market Segmentation

Based on the Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Medium & High Commercial Vehicles
  • Two-Wheelers
  • Off-the-Road (OTR)

Of them all, Medium & High Commercial Vehicles are anticipated to demonstrate the fastest growth in the Angola Tire Market during the forecast period. It attributes principally to escalating infrastructural developments, leading to multiple construction projects like Caculo Cabaça Hydroelectric Project, Zinia Phase 2 Project, MCA Solar Project, Cabinda Refinery, and Caio Deep Water Port, among others, in the country. As a result, these projects are accelerating the demand for heavy commercial vehicles & pointing at the mounting requirements for tires, thereby boosting the market.

Based on the Type of Tire:

  • Radial 
  • Bias 

Here, Radial Tires are expecting an upswing in their demand during the forecast period. In line with rapid construction activities, Angola is witnessing rigorous mining activities for procuring oil & diamonds, i.e., augmenting the demand for mining equipment. Consequently, it is fueling the production & sales of radial tires in the country, owing to their flexible sidewalls, lower rolling resistance, better stability & durability, & reduced fuel consumption, thereby propelling the overall market growth.

Key Market Driver: Abundant Presence of Oil & Mineral Reserves in Angola

Angola is the second-largest oil-producing country in Sub-Saharan Africa and harbors a significant number of gas reserves & extensive mineral resources. Hence, the mining sector in the country is witnessing an upswing, which, in turn, is augmenting the demand for mining equipment and positively influencing the sales & production of robust tires for enhanced efficiency.

Besides, growing awareness among vehicle owners about vehicle safety & the need to timely replace tires is further anticipated to fuel the adoption of tires for mining equipment. As a result, it would generate lucrative growth opportunities for the leading players to increase their import business to meet the rising tire requirements and drive the Angola Tire Market during the forecast period.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Angola Tire Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Angola Tire Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Angola Tire Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Angola Tire Market study?

Frequently Asked Questions

A. The Angola Tire Market is projected to grow at a CAGR of around 12% during 2021-26.

A. Commercial Vehicles are anticipated to emerge as an area of remunerative opportunities for the leading players in the Angola Tire Market during 2026.

A. What are the growth opportunities driving the Angola Tire Market through 2026?

A. In the coming years, the Angola Tire Market is anticipated to witness a steady growth owing to various ongoing & upcoming construction & mining projects in the country, which, in turn, would augment the need for construction equipment, along with robust tires for them.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Angola Tire Market
  5. Expert Verbatim-Interview Excerpts of industry experts
  6. Angola Tire Market Analysis, 2016-2026F
    1. Market Size & Analysis
      1. Revenues in (USD Billion)
      2. Units Sold in Million
    2. Market Share & Analysis
      1. By Vehicle Type
        1. Passenger Cars
          1. SUV
          2. Sedan
          3. Hatchback & Bakkies
        2. Light Commercial Vehicles (LCV)
          1. Light Trucks
          2. Light Buses
          3. Pickup trucks & Vans
        3. Medium & High Commercial Vehicles
          1. Bus
          2. Truck
        4. Two Wheelers
          1. Moped
          2. Scooters
          3. Motorcycles
        5. Off the Road (OTR)
          1. Earthmoving Equipment
          2. Material Handling Equipment
          3. Industrial & Mining Equipment
      2. By Demand Type
        1. OEM
        2. Replacement
      3. By Type of Tire
        1. Radial
        2. Bias
      4. By Season
        1. All Season
        2. Summer
      5. By Sales Channel
        1. Online
        2. Dealers/ Exclusive Outlets
        3. Others
      6. By Rim Size
        1. Upto 12
        2. 12.1” to 15”
        3. 15.1.” to 18”
        4. 18.1” to 20”
        5. 20.1” to 22.5”
        6. 22.6” to 26”
        7.  26.1” to 35”
        8. 35.1” to 47”
        9. Above 47”
      7. By Price Category
        1. Low
        2. Medium
        3. High
      8. By Region
        1. AI Khor
        2. Ad Dawhah
        3. AI Wakrah
        4. AI Rayyan
      9. By Company
        1. Market Shares, By Revenue
        2. Strategic Factorial Indexing
        3. Competitor Placement in MarkNtel Quadrant
    3. Market Attractiveness Index
      1. By Type of Vehicle
      2. By Demand Type
      3. By Type of Tire
      4. By Season
      5. By Sales Channel
      6. By Rim Size
      7. By Price Category
      8. By Country
    4. By Competitors
      1. Total Units Sold
      2. Market Share
  7. Angola Passenger Car Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Sedan
        2. SUV
        3. Hatchbacks & Others
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Passenger Car Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  8. Angola Light Commercial Vehicle Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Light Trucks
        2. Light Buses
        3. Pick-Up Trucks & Vans
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Light Commercial Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  9. Angola Medium & Heavy Commercial Vehicle Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Trucks
        2. Bus
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Medium & Heavy Commercial Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  10. Angola Two-Wheeler Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Motorcycles
        2. Scooters & Mopeds
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. Two-Wheeler Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  11. Angola OTR Vehicle Tire Market Outlook, 2016-2026F
    1. Market Size & Analysis
      1. Units Sold in Million
      2. Revenues in USD Billion
    2. Market Share & Analysis
      1. By Type of Vehicle
        1. Earth Moving Equipment
        2. Construction & Agricultural Vehicle
        3. Material Handling Equipment
      2. OEM Vs Replacement
      3. By Radial Vs Bias
      4. By Region
      5. By Season
      6. By Sales Channel
      7. By Tire Rim Size
      8. By Leading Companies
    3. OTR Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  12. Angola Tire Market Value Chain Analysis
    1. Key Stakeholders in Value Chain
    2. Margin at Various Levels
  13. Angola Tire Market Regulations, Policies, Regulation, Product Benchmarks
  14. Angola Tire Market Trends & Insights
  15. Angola Tire Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  16. Angola Tire Market Hotspot & Opportunities
  17.  Angola Tire Market Key Strategic Imperatives for Success & Growth
  18. Angola Tire Market Import & Export Statistics
  19. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles of Top Companies (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. Bridgestone Corp.
      2. Continental Tires
      3. Dayton Tires
      4. Firestone Tires
      5. BF Goodrich Tires
      6. Cooper Tires
      7. Dunlop Tires
      8. Goodyear
      9. Hankook
      10. Kumho Tires
  20. Disclaimer
Angola Tire Market Segmentation