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Angola Tire Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Angola 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.
Impact of COVID-19 on Tire
Owing to the rising number of coronavirus cases in Angola there were fewer sales of vehicles and tires in the country. As the country is import driven thus, the imports were banned from other countries as the virus is highly contagious. The supply chain got disruption showing declines in generating revenues in 2020.
Market Opportunities
According to MarkNtel Advisors’ research report “Angola Tire Market Analysis, 2020”, the Angola Tire market is anticipated to grow at a CAGR of around 12% during 2021-26. Over the last few years, the automobile sector in the country has been witnessing a surge in investments along with vehicle imports also exhibiting growth. The tire market of the country is entirely replacement and import driven as there is no presence of OEMs in the country. The country had a low motorization rate in 2020.
Market Segmentation
Passenger Car Sales Remained a Dominant Segment
The total population of Angola would be soon swelling to 32.90 million. The sales of passenger cars witnessed a plummeting demand in 2019 which was around 2,080 as compared to 5,600 in 2016. The total sales of vehicles in the country in 2019 were around 2,830 as compared to 7,300 in 2016. The government is encouraged to promote the sales of vehicles and induce construction activities in the country to reduce the dependency on oil. Development in the country would lead to the growth of construction vehicles which would aid in the growth of OTR tires as revealed by the MarkNtel Advisors’ research report “Angola Tire Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Angola 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 Market Research Report:
Market Outlook, Segmentation and Statistics:
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report on Angola Tire Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Angola Tire Market during 2021-26?
A. The growth rate of Angola Tire Market during 2021-26 is forecast to grow at a CAGR of 12%.
Q. Who are the key competitors or players operating in Angola Tire Market?
A Bridgestone Corp., Continental Tires, Dayton Tires, Firestone Tires, BF Goodrich Tires, Cooper Tires, Dunlop Tires, Goodyear, Hankook, Kumho Tires, etc. are few of the leading players in the Angola Tire Market.
Q. Which type of tire segment would emerge as an opportunity area for players in Angola Tire Market?
A. Bias segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which type of vehicle would emerge as an opportunity area for players in Angola Tire Market?
A. Two-Wheeler segment grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Angola Tire Market.
