Market Research Report

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

By Vehicle Type (Two-wheeler Tire, Passenger Car Tire, Light Commercial Vehicle (LCV) Tire, Medium & Heavy Commercial Vehicle (MHCV) Tire, Off-the-Road Vehicle (OTR) Tire), By Dema...nd Type (OEM, Replacement), By Tire Type (Radial, Bias), By Season (Summer Tires, All Season Tires), By Sales Channel (Direct Sales, Dealer Distributor, Online Platform), By Rim Size (Up to 12”, 12.1” to 15”, 15.1” to 18”, 18” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”), By Price Category (Budget, Economy, Premium), By Region (Oromia, Somali, Tigray, Amhara, Others), By Company (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, and others) Read more

  • Tire
  • Nov 2023
  • 134
  • TR10238

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

The Ethiopia Tire Market size is valued at around USD 2.08 billion in 2023 and is estimated to grow at a CAGR of about 3.48% during the forecast period, i.e., 2024-30. The market growth is driven primarily by the mounting government focus on improving the overall economic conditions of the country and its several initiatives toward addressing the declining oil prices & increasing geopolitical tensions.

It, in turn, is generating lucrative opportunities for automakers & prominent tire manufacturers to establish manufacturing units across the country and boost the market. Besides, the active participation of the government & leading players in the market is attracting foreign investments into Ethiopia to set up tire manufacturing facilities, which, in turn, is improving the country's economic scenario.

Report Coverage Details
Study Period Historical Data: 2019-22
Base Year: 2023
Forecast Period: 2024-30
CAGR (2024-2030) 3.48%
Region Covered Oromia, Somali, Tigray, Amhara, Others
Key Companies Profiled 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, and others
Market Value (2023) USD 2.08 Billion

 

The Ethiopian Tire Market benefits from a surging demand for replacement tires, predominantly attributed to the deteriorating state of roads, especially in rural areas. The consistent transportation of goods over challenging terrain has taken a toll on tire quality, driving the need for replacements & contributing to market growth. Additionally, the increasing demand for cost-effective tires is further amplified by the significant presence of Chinese tire manufacturers in Ethiopia.

These factors collectively present lucrative opportunities for market expansion across the country in the coming years. Furthermore, the steadily rising disposable income within the burgeoning population underscores a rapidly increasing demand for passenger cars and two-wheelers. This heightened demand for vehicles, in turn, augments the need for tires & exerts a positive influence on the overall market growth.


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

Ethiopia Tire Market Driver:

Growing Awareness about Timely Repairs & Replacement of Tires – With stabilizing economic conditions in Ethiopia and growing sales of passenger vehicles, the demand for tires is significantly rising in the country. Consumers are becoming more aware of the significance & benefits of providing timely repairs & replacements to their vehicles & keep a check on the conditions of their tires. It, in turn, is augmenting the demand for replacement tires and playing a crucial role in driving the Tire Market across Ethiopia.

Besides, urbanization & advancements in the automotive sector are further anticipated to upsurge the demand for new vehicles and, in turn, positively influence the tire demand. As a result, the country is set to generate lucrative growth opportunities for the leading players in the tire industry to expand their product portfolio & customer base through 2024.

Ethiopia Tire Market Opportunity:

Electric Vehicle Tire Creating Opportunity in the Market – The advent of Electric Vehicles (EVs) in the country marks a pivotal step in combating carbon emissions & promoting sustainability. Heightened awareness of environmental sustainability and carbon footprint reduction has prompted the government to take action.

Notably, all import taxes for electric vehicles have been waived in 2023 to increase the adoption of electric vehicles in the country. This forward-looking trend opens up substantial growth avenues for industry leaders in the tire sector. It entices them to create EV-compatible tires, which would contribute to the total growth of the tire business in the coming years.

Ethiopia Tire Market Challenge:

Economic Challenges Creating Barriers in Ethiopia's Tire Industry – The relatively slower pace of economic growth in Ethiopia, compared to its neighboring nations, like Kenya, South Sudan, and others, presents a notable challenge to market expansion. The limited industrial development in the country contributes to a sluggish increase in commercial spaces and subsequently restricts overall citizen prosperity. This slower economic growth constrains the demand for new vehicles in the market, consequently affecting the growth of the tire industry.

Furthermore, high import duties on tires, in conjunction with unauthorized dumping of tires within the country, create obstacles for tire providers. These factors have hindered the market's growth potential, resulting in a nominal surge in the demand for new tires.

Ethiopia Tire Market (2024-30): Segmentation Analysis

The Ethiopia Tire Market study by MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment & includes predictions for the period 2024–2030 at the national levels. In accordance to the analysis, the market has been further classified as:

Based on Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • Medium & Heavy Commercial Vehicles
  • Two-wheelers
  • Off-the-Road (OTR)

Passenger Cars dominated the Ethiopia Tire Market with the largest share in previous years, and the same trend is projected during 2024-30. The growth is attributed principally to the improving economic conditions of people & road connectivity and growing consumer inclination toward private ownership of vehicles, i.e., demonstrating a significant rise in the vehicle fleet & positively influencing the Tire Market growth across Ethiopia. Besides, the growing utilization of passenger cars in the country for transportation & cab services is another prominent factor augmenting the overall market growth for passenger vehicles.

Based on Demand Type:

  • OEM
  • Replacement

The immense popularity of Chinese tires in Ethiopia is augmenting the market growth for Replacement Tires owing to their easy availability, extensive variety, and affordable price range. Besides, as the country is low in terms of motorization due to its fluctuating economic conditions, people are inclined toward purchasing second-hand vehicles, which, in turn, is escalating the demand for tire repairs & replacement, thus stimulating the overall market growth.  

Gain a Competitive Edge with Our Ethiopia Tire Market Report

  • Ethiopia Tire Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
  • This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  • Ethiopia Tire Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Ethiopia Tire Market is expected to grow at a compound annual growth rate (CAGR) of around 3.48% from 2024 to 2030.

   A. The Ethiopia Tire Market size is valued at around USD 2.08 billion in 2023.

   A. The awareness for timely replacement of tires is expected to drive the Ethiopia Tire Market during 2024-30.

   A. 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, and others

   A. Replacement tire held the largest share of the Ethiopia Tire Market owing to their easy availability, extensive variety, and affordable price range.

   A. The adoption of electric vehicles would create growth opportunities for the Ethiopia Tire Market.

Ethiopia Tire Market Research Report (2024-2030) - Table of Contents

 

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Ethiopia Tire Market Trends & Developments
  5. Ethiopia Tire Market Dynamics
    1. Drivers
    2. Challenges
  6. Ethiopia Tire Market Supply Chain Analysis
  7. Ethiopia Tire Market Regulations, Policies & Product Standards
  8. Ethiopia Tire Hotspot & Opportunities
  9. Ethiopia 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. Two-wheeler Tire- Market Size & Forecast 2019-2030, (Thousand Units)
          1. Moped- Market Size & Forecast 2019-2030, (Thousand Units)
          2. Scooter- Market Size & Forecast 2019-2030, (Thousand Units)
          3. Motorcycles- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Passenger Car Tire- Market Size & Forecast 2019-2030, (Thousand Units)
          1. SUV- Market Size & Forecast 2019-2030, (Thousand Units)
          2. Hatchback- Market Size & Forecast 2019-2030, (Thousand Units)
          3. Sedan- Market Size & Forecast 2019-2030, (Thousand Units)
        3. Light Commercial Vehicle (LCV) Tire -Market Size & Forecast 2019-2030, (Thousand Units)
          1. Light Truck- Market Size & Forecast 2019-2030, (Thousand Units)
          2. Light Bus- Market Size & Forecast 2019-2030, (Thousand Units)
          3. Pick-up Trucks & Vans- Market Size & Forecast 2019-2030, (Thousand Units)
        4. Medium & Heavy Commercial Vehicle (MHCV) Tire -Market Size & Forecast 2019-2030, (Thousand Units)
          1. Bus- Market Size & Forecast 2019-2030, (Thousand Units)
          2. Truck- Market Size & Forecast 2019-2030, (Thousand Units)
        5. Off-the-Road Vehicle (OTR) Tire-Market Size & Forecast 2019-2030, (Thousand Units)
          1. Earthmoving Equipment-Market Size & Forecast 2019-2030, (Thousand Units)
          2. Material Handling Equipment-Market Size & Forecast 2019-2030, (Thousand Units)
          3. Industrial & Mining Equipment-Market Size & Forecast 2019-2030, (Thousand Units)
      2. By Demand Type
        1. OEM - Market Size & Forecast 2019-2030, (Thousand Units)
        2. Replacement - Market Size & Forecast 2019-2030, (Thousand Units)
      3. By Tire Type
        1. Radial- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Bias - Market Size & Forecast 2019-2030, (Thousand Units)
      4. By Season
        1. Summer Tires- Market Size & Forecast 2019-2030, (Thousand Units)
        2. All Season Tires- Market Size & Forecast 2019-2030, (Thousand Units)
      5. By Sales Channel
        1. Direct Sales- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Dealer Distributor - Market Size & Forecast 2019-2030, (Thousand Units)
        3. Online Platform- Market Size & Forecast 2019-2030, (Thousand Units)
      6. By Rim Size
        1. Up to 12” - Market Size & Forecast 2019-2030, (Thousand Units)
        2. 12.1” to 15” - Market Size & Forecast 2019-2030, (Thousand Units)
        3. 15.1” to 18” - Market Size & Forecast 2019-2030, (Thousand Units)
        4. 18” to 22.5” - Market Size & Forecast 2019-2030, (Thousand Units)
        5. 22.6” to 26” - Market Size & Forecast 2019-2030, (Thousand Units)
        6. 26.1” to 35” - Market Size & Forecast 2019-2030, (Thousand Units)
        7. 35.1” to 47” - Market Size & Forecast 2019-2030, (Thousand Units)
        8. Above 47” - Market Size & Forecast 2019-2030, (Thousand Units)
      7. By Price Category
        1. Budget- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Economy- Market Size & Forecast 2019-2030, (Thousand Units)
        3. Premium- Market Size & Forecast 2019-2030, (Thousand Units)
      8. By Region
        1. Oromia- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Somali- Market Size & Forecast 2019-2030, (Thousand Units)
        3. Tigray- Market Size & Forecast 2019-2030, (Thousand Units)
        4. Amhara- Market Size & Forecast 2019-2030, (Thousand Units)
        5. Others- Market Size & Forecast 2019-2030, (Thousand Units)
      9. By Competition
        1. Competition Characteristics
        2. Market Share Analysis
  10. Two-wheeler Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, (Thousand Units)
        1. Moped- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Scooter- Market Size & Forecast 2019-2030, (Thousand Units)
        3. Motorcycles- Market Size & Forecast 2019-2030, (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2019-2030, (Thousand Units)
      3. By Tire Type- Market Size & Forecast 2019-2030, (Thousand Units)
      4. By Season Type- Market Size & Forecast 2019-2030, (Thousand Units)
      5. By Sales Channel- Market Size & Forecast 2019-2030, (Thousand Units)
      6. By Rim Size- Market Size & Forecast 2019-2030, (Thousand Units)
      7. By Price Category- Market Size & Forecast 2019-2030, (Thousand Units)
  11. Passenger Car Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, (Thousand Units)
        1. SUV- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Hatchback- Market Size & Forecast 2019-2030, (Thousand Units)
        3. Sedan- Market Size & Forecast 2019-2030, (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2019-2030, (Thousand Units)
      3. By Tire Type- Market Size & Forecast 2019-2030, (Thousand Units)
      4. By Season Type- Market Size & Forecast 2019-2030, (Thousand Units)
      5. By Sales Channel- Market Size & Forecast 2019-2030, (Thousand Units)
      6. By Rim Size- Market Size & Forecast 2019-2030, (Thousand Units)
      7. By Price Category- Market Size & Forecast 2019-2030, (Thousand Units)
      8. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
  12. Light Commercial Vehicle Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, (Thousand Units)
        1. Light Truck- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Light Bus- Market Size & Forecast 2019-2030, (Thousand Units)
        3. Pick-up Trucks & Vans- Market Size & Forecast 2019-2030, (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2019-2030, (Thousand Units)
      3. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
      4. By Season Type- Market Size & Forecast 2019-2030, (Thousand Units)
      5. By Sales Channel- Market Size & Forecast 2019-2030, (Thousand Units)
      6. By Rim Size- Market Size & Forecast 2019-2030, (Thousand Units)
      7. By Price Category- Market Size & Forecast 2019-2030, (Thousand Units)
  13. The Medium & Heavy Commercial Vehicle Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, (Thousand Units)
        1. Bus - Market Size & Forecast 2019-2030, (Thousand Units)
        2. Truck- Market Size & Forecast 2019-2030, (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2019-2030, (Thousand Units)
      3. By Tire Type- Market Size & Forecast 2019-2030, (Thousand Units)
      4. By Season Type- Market Size & Forecast 2019-2030, (Thousand Units)
      5. By Sales Channel- Market Size & Forecast 2019-2030, (Thousand Units)
      6. By Rim Size- Market Size & Forecast 2019-2030, (Thousand Units)
      7. By Price Category- Market Size & Forecast 2019-2030, (Thousand Units)
  14. Asia-Pacific Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Unit Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, (Thousand Units)
        1. Earth Moving Equipment- Market Size & Forecast 2019-2030, (Thousand Units)
        2. Construction & Agriculture Equipment- Market Size & Forecast 2019-2030, (Thousand Units)
        3. Material Handling Equipment- Market Size & Forecast 2019-2030, (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2019-2030, (Thousand Units)
      3. By Tire Type- Market Size & Forecast 2019-2030, (Thousand Units)
      4. By Season Type- Market Size & Forecast 2019-2030, (Thousand Units)
      5. By Sales Channel- Market Size & Forecast 2019-2030, (Thousand Units)
      6. By Rim Size- Market Size & Forecast 2019-2030, (Thousand Units)
      7. By Price Category- Market Size & Forecast 2019-2030, (Thousand Units)
  15. Ethiopia Tire Market Key Strategic Imperatives for Success & Growth
  16. Competitive Outlook
    1. Company Profiles 
      1. Bridgestone Corporation
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Continental AG
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Maxxis International
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Michelin
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Goodyear Tire & Rubber Co.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Pirelli & C. S.P.A.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Sumitomo Rubber Industries, Ltd.
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. MRF Limited
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. CEAT Limited
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Apollo Tires Ltd
        1. Business Description
        2. Type Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Others
  17. Disclaimer


Ethiopia Tire Market Segmentation