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Kenya Tire Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Kenya 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
The Novel Coronavirus (COVID-19) has cast a long shadow on the two-wheeler tire market over a much-anticipated recovery in the Kenyan economy in the year 2021. COVID-19 had an adverse effect on almost all aspects of society including automotive and tire businesses. Although, the assembling plants in Africa and distributors in the country throughout January and February have been scrambling to keep the distribution channel and assembly units of tires humming but in March due to the complete lockdown in some countries of Africa, the two-wheeler tire imports faced a huge setback.
Market Opportunities
According to MarkNtel Advisors’ research report “Kenya Tire Market Analysis, 2020”, the Kenya Tire market is anticipated to grow at a considerable CAGR during 2021-26. Kenya has a population of around 53.77 million in 2020. The dominance of the automobile segments is projected to sustain over the next five years in Kenya. Nairobi, Mombasa, and Kisumu provinces account for the majority of the overall tire demand in the country, and this trend is expected to ramp up in the forthcoming years. The passenger vehicle segment is witnessing a bolstering demand in recent years.
Market Segmentation
Two-Wheeler Segment Dominate the Market with Highest Market Share
The sales of vehicles accounted to be around 5,643 in 2019 as compared to 14,100 in 2015, according to OICA. Motorbikes are the most bought motor vehicles in the East African nation, with new registrations accounting to be over 200,000 annually, according to Kenya National Bureau of Statistics. Vehicle sales especially two-wheelers are expected to burgeon post-COVID-19. The growth of two-wheelers is majorly associated with the rise in the FMCG sector were food delivery apps are contributing in the growth of two-wheelers thereby, mounting the growth of tires. The ride hailing apps such as Uber, Little Cab and Bolt are shifting the dynamics in the tire industry. The trend is expected to continue throughout 2026 as revealed by the MarkNtel Advisors’ research report “Kenya Tire Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Kenya Tire market include Michelin Kenya Sdn Bhd, Giti Tire Pte. Ltd., MRF, Pirelli & C.S. p.a, Goodyear Tire & Rubber Industries, Sumitomo Rubber Industries, Ltd., Maxxis Tires Kenya, Kumho Tyre, Apollo Tyres Ltd., Bridgestone Middle East & Africa FZE, 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 Kenya 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 Kenya Tire Market during 2021-26?
A. The growth rate of Kenya Tire Market during 2021-26 is forecast to grow at a considerable CAGR.
Q. Who are the key competitors or players operating in Kenya Tire Market?
A Michelin Kenya Sdn Bhd, Giti Tire Pte. Ltd., MRF, Pirelli & C.S. p.a, Goodyear Tire & Rubber Industries, Sumitomo Rubber Industries, Ltd., Maxxis Tires Kenya, Kumho Tyre, Apollo Tyres Ltd., Bridgestone Middle East & Africa FZE, etc. are few of the leading players in the Kenya Tire Market.
Q. Which type of tire segment would emerge as an opportunity area for players in Kenya Tire Market?
A. Bias segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which demand category segment would emerge as an opportunity area for players in Kenya Tire Market?
A. Exclusive Outlets/Dealers segment grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Kenya Tire Market.
