Market Research Report

Namibia Tire Market Research Report: Forecast (2023-28)

By Vehicle Type (Passenger Cars (SUV, Sedan, Hatchback & Bakkies), Light Commercial Vehicles (LCV) (Light Trucks, Light Buses, Pickup Trucks & Vans), Medium & Heavy Commercial Vehi...cles (Bus, Truck, Two Wheelers, Moped, Scooters, Motorcycles), Off the Road (OTR) (Earthmoving Equipment, Material Handling Equipment, Industrial & Mining Equipment), By Demand Type (OEM, Replacement), By Type of Tire (Radial, Bias), By Season (All-Season, Summer), By Sales Channel (Online, Dealers/ Exclusive Outlets), By Rim Size (Up to 12, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”), By Price Category (Low, Medium, High), By Region (AI Khor, Ad Dawhah, AI Wakrah, AI Rayyan), By Competitors (Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, CST Tires) Read more

  • Tire
  • Aug 2023
  • Pages 153
  • Report Format: PDF, Excel, PPT

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Market Definition

Namibia's automotive & tire industries are undergoing significant developments and expect steady growth in the near future. Since the country has only a few prominent tire manufacturers, the tire industry is mainly import-driven. With superior road infrastructure, Namibia is experiencing a swift volume growth in its vehicle fleet, i.e., generating promising opportunities for tire manufacturers and boosting the overall tire industry.

Market Insights & Analysis: Namibia Tire Market (2023-28)

The Namibia Tire Market is projected to grow at around 2.8% CAGR during the forecast period, i.e., 2023-28. The market is likely to be driven principally by improving economic conditions and, in turn, the growing consumer inclination toward private vehicle ownership, i.e., leading to a rising vehicle fleet size and, subsequently, increasing demand for tires in the country. In addition, the immense focus of the government on infrastructural developments associated with road construction, maintenance, & expansion is also showcasing an increasing number of vehicles on roads and, in turn, positively influencing the Namibia tire market growth.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR(2023-28) 2.8%
Key Companies Profiled Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, and CST Tires.
Unit Denominations USD Million/Billion

 

As vehicles have become a necessity for people instead of a luxury, the sales of second-hand cars are also escalating swiftly, i.e., creating the need for timely repairs & replacement of tires. In addition, the mining & agriculture sectors of Namibia are vital contributors to its economy, and these industries constantly require specialized vehicles & machinery that rely on durable tires. Hence, growth in these sectors has a direct impact on the demand for tires, particularly for mining trucks & agricultural machinery.

The tire market in Namibia is largely import-driven as the country does not have significant domestic tire manufacturing capacity and relies heavily on tire imports from South Africa, China, Europe, & the United States to cater to the end-user demand. Though the government has taken some initiatives to establish tire manufacturing plants in the country, it is not yet at a scale to fulfill the entire domestic demand. Tire importers, distributors, & retailers in the country are playing a crucial role in sourcing tires from international manufacturers to cater to the diverse needs of consumers and, consequently, propelling the growth of the tire industry in Namibia.




Namibia Tire Market Driver

Country's Robust Economic Growth and Expanding Automotive Industry: Namibia has been experiencing steady economic growth in recent years, resulting in a swift surge in disposable income and an expanding middle class. This, in turn, has resulted in a surge in vehicle ownership and demand for tires. As Namibia continues to modernize and urbanize, the need for reliable and high-quality tires for various vehicles, such as cars, trucks, and commercial vehicles, has become paramount. Manufacturers and distributors in the tire industry are capitalizing on these opportunities, offering a wide range of tire options to meet the growing demand and, consequently, driving the Namibia Tire Market.

Namibia Tire Market Possible Restraint

Increasing Competition from Low-Cost Imports: Namibia's open market economy allows for importing of various tire brands and types from different countries. While this provides consumers a wide range of options, it poses a challenge for local tire manufacturers and distributors. Imported tires, often offered at lower prices, can undercut the market share of domestic producers, impacting their sales and profitability. This competition has pressured local companies to find innovative ways to differentiate their products, improve quality, and provide value-added services to remain competitive.

Namibia Tire Market (2023-28): Segmentation Analysis

The Namibia Tire Market study from MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment and includes predictions for the period 2023–28. Based on the analysis, the market has been further classified as:

Based on the Vehicle Type:

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

Amongst all vehicle types, passenger cars are expected to dominate the Namibia Tire Market with the largest share during 2023-28. It attributes principally to the growing inclination of the people toward private ownership of vehicles, which, in turn, is demonstrating growth in the passenger car fleet and a burgeoning requirement for tires across the country.

Besides, the increasing penetration of ride-hailing services is another aspect gaining swift traction in the market & stimulating the production & sales of passenger cars for commercial applications. As a result, the need for timely tire repairs & replacements is rising and positively impacting the tire industry in Namibia. Numbers show that the country is also showcasing a growing adoption of second-hand passenger cars for everyday traveling, which, in turn, is portraying more frequent tire replacements and significant market expansion in the years to come.

Based on the Demand Type:

  • OEM
  • Replacement

Here, replacement tires acquired the largest market share in the previous few years, and the same trend is expected through 2028. It owes to the automotive & tire industries of the country, which are highly import-driven and offer an extensive range of tires for vehicle owners. Besides, the easy availability & affordability of replacement tires, coupled with the growing consumer awareness about the various benefits of timely repairs & replacement of tires, are also stimulating the overall market growth.

It, in turn, is further creating lucrative prospects for the leading players to increase their import & distribution capacities across the country and contributing to the overall market expansion. Alongside, the growing adoption of second-hand vehicles and the increasing proliferation of ride-hailing services are escalating the need for frequent tire replacements, owing to longer driving hours and the subsequent wear & tear. Consequently, the demand for affordable & durable tires is rising rapidly and boosting the overall revenue growth of the tire market in Namibia.

Namibia Tire Industry Recent Development:

  • In December 2022, Bridgestone Southern Africa (BSAF) made a significant announcement regarding the acquisition of OTRACO Southern Africa, a prominent provider of Off-The-Road (OTR) tire management solutions. The acquisition was carried out by Bridgestone Southern Africa Holdings (BSAFH), a group company of BSAF. This strategic move is expected to enhance the growth of Bridgestone SA's mining solutions business and broaden the company's service network. By integrating OTRACO's expertise and resources, Bridgestone SA aims to strengthen its position in the market and better serve its customers in the mining industry.

Gain a Competitive Edge with Our Namibia Tire Market Report

  1. Namibia Tire Market research report provides a detailed and thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market outlook to 2028 and make informed decisions.
  2. This report also highlights current market trends and future projections, allowing businesses to identify emerging opportunities and potential challenges. By understanding market forecast data, companies can align their strategies and stay ahead of the competition.
  3. Namibia Tire Market report aids in assessing and mitigating risks associated with entering or operating in the market.
  4. The report would help in understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks and optimize their operations.

Frequently Asked Questions

   A. The Namibia Tire Market is projected to grow at a CAGR of around 2.8% during 2023-28.

   A. Robust economic growth and the expanding automotive sector are the prime aspects projected to drive the Namibia Tire Market through 2028.

   A. The most prominent leaders anticipated to stiffen the competition in the Namibia Tire Market include Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, and CST Tires.

   A. Passenger cars are anticipated to emerge as an area of remunerative opportunities for the leading players in the Namibia Tire Market during 2023-28.

   A. Increasing competition from low-cost imports is likely to restrain the growth of the Namibia Tire Market in the coming years.

Namibia Tire Market Research Report (2023-2028) - Table of Contents

  1. Market Segmentation
  2. Introduction
    1. Market Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Namibia Tire Market Trends & Development
  5. Namibia Tire Market Dynamics
    1. Drivers
    2. Challenges
  6. Namibia Tire Market PORTER’S Five Forces Analysis
  7. Namibia Tire Market Value Chain & Margin Analysis
  8. Namibia Tire Market Regulations, Policies & Product Standards
  9. Namibia Tire Market Hotspot & Opportunities
  10. Namibia Tire Market Analysis, 2018-2028
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Vehicle Type
        1. Passenger Car-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Light Commercial Vehicle (LCV) -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. Medium & Heavy Commercial Vehicle (MHCV) -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        4. Off-Road Tire (OTR) -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        5. Two Wheeler-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      2. By Demand Type
        1. OEM-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Aftermarket-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      3. By Tire Type
        1. Radial-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Bias-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      4. By Sales Channel
        1. Online-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Direct Sales-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. Multi Brand Stores-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        4. Exclusive Outlets-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      5. By Price Category
        1. Budget-Market Size & Forecast 2018-2028F, Unit Sold (Thousand)
        2. Economy-Market Size & Forecast 2018-2028F, Unit Sold (Thousand)
        3. Premium-Market Size & Forecast 2018-2028F, Unit Sold (Thousand)
      6.  By Rim Size
        1. Up to 12” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. 12.1” to 15” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. 15.1” to 18” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        4. 18.1” to 20” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        5. 20.1” to 26” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        6. 26.1” to 35” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        7. 35.1” to 47” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        8. Above 47”-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      7. By Region
        1. East
        2. West
        3. South
      8. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
  11. Namibia Passenger Car Tire Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type
        1. SUV- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Sedan- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. Hatchback- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      3. By Tire Type-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      4. By Sales Channel, Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      5. By Price Category-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      6. By Rim Size-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        1. Up to 12” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. 12.1” to 15” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. 15.1.” to 18” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      7. By Region-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
  12. Namibia Light Commercial Vehicle Tire Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type
        1. Light Trucks-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Light Buses-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. Pickup trucks & Vans-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      3. By Tire Type-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      4. By Sales Channel, Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      5. By Price Category-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      6. By Rim Size-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        1. Up to 15” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. 15.1” to 16” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. Above 16” -Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      7. By Region-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
  13. Namibia Medium & Heavy Commercial Vehicle Tire Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type
        1. Bus- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Truck- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      3. By Tire Type-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      4. By Sales Channel, Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      5. By Price Category-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      6. By Rim Size-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        1. Up to 20”
        2. 20.1” to 22.5”
        3. 22.6” to 26”
      7. By Region-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
  14. Namibia OTR Vehicle Tire Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type
        1.  Earth Moving Equipment
        2. Material Handling Equipment
        3. Agricultural Equipment
      2. By Demand Type- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      3. By Tire Type-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      4. By Sales Channel, Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      5. By Price Category-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      6. By Rim Size-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        1. Up to 12”
        2. 12.1” to 15”
        3. 15.1.” to 18”
        4. 18.1” to 20”
        5. 20.1” to 26”
        6. 26.1” to 35”
        7. 35.1” to 47”
        8. Above 47”
      7. By Region-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
  15. Namibia Two Wheeler Tire Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Type
        1. Mopeds- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. Scooters- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. Motorcycle- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      2. By Demand Type- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      3. By Tire Type-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      4. By Sales Channel, Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      5. By Price Category-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      6. By Rim Size-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        1. Up to 12”- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        2. 12.1” to 15”- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
        3. 15.1.” to 18”- Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
      7. By Region-Market Size & Forecast 2018-2028F, Units Sold (Thousand Units)
  16. Namibia Tire Market Key Strategic Imperatives for Success & Growth
  17. Competition Outlook
    1. Company Profiles
      1. Pirelli Tire
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Bridgestone Tires
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Sumitomo Rubber
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Continental Tires
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Goodyear Tires
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Michelin
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. CST Tires
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Dunlop
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Yokohama
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Hankook
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Cooper
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Others
  18. 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.

Data Trangulation

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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