Namibia Tire

Namibia Tire Market Research Report: Forecast (2021-26)

By Vehicle Type (Passenger Cars (SUV, Sedan, Hatchback & Bakkies), Light Commercial Vehicles (LCV) (Light Trucks, Light Buses, Pickup Trucks & Vans), Medium & Heavy Commercial Vehicles (Bus, Truck, Tw Read more

  • Tire
  • Apr 2022
  • 153
  • TR10241

Market Overview

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. In addition to this, with superior road infrastructure, Namibia is experiencing a swift acceleration in the vehicle fleet, which, in turn, would generate lucrative opportunities for tire manufacturers and promote the overall growth of the tire industry in the coming years.

Market Insights

The Namibia Tire Market is projected to grow at a CAGR of around 4% during the forecast period, i.e., 2021-26. The market growth is likely to be driven principally by the high-income population group and the growing consumer inclination toward private vehicle ownership, i.e., leading to a rising vehicle fleet and increasing demand for tires in the country. In addition, the immense government focus on infrastructural developments is also showcasing a growing number of vehicles on roads and, in turn, positively influencing the market growth across Namibia.

Report Coverage Details
Study Period Historical Data: 2016-19
Base Year: 2020
Forecast Period: 2021-26
CAGR 4%
Key Companies Profiled Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, CST Tires
Unit Denominations USD Million/Billion

 

Besides, since the automotive & tire industry of the country is highly import-driven, the easy & extensive availability of tires is attracting a massive consumer base and stimulating the overall market growth. Furthermore, as vehicles have become a necessity for people instead of luxury, the sales of second-hand cars are also escalating swiftly, i.e., augmenting the need for timely repairs & replacement of tires and, in turn, driving the Namibia Tire Market.

Impact of Covid-19 on the Namibia Tire Market

The advent of Covid-19 in 2020 had a decelerating effect on most businesses across Namibia, including the tire industry. Due to the severity of the pandemic, the government imposed stringent movement restrictions & lockdowns to curb the spread of this disease. With this, the leading players in the tire market witnessed several unprecedented challenges associated with the trade & distribution of tires across the country. Moreover, the unavailability of raw materials, delivery delays, and fluctuating prices of raw materials like rubber, etc., brought massive revenue losses for the industry players.

Nonetheless, with the gradually declining number of Covid-19 cases, the government uplifted the restrictions & allowed the recommencement of business operations. As a result, the leading players in the market resumed imports, distribution, and other business operations throughout the country to recover from losses that occurred amidst the crisis.

Market Segmentation

Based on the Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles (LCV)
  • 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 2021-26. 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. Moreover, 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 2026. 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 contribute to the overall market expansion over the forecast years.

Furthermore, the growing adoption of second-hand vehicles and the increasing proliferation of ride-hailing services are leading to an escalating need for frequent tire replacements, owing to longer driving hours and rapid wear & tear. Consequently, the demand for affordable & durable tires is rising rapidly and boosting the overall growth of the tire market across Namibia.

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 Namibia 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 Namibia Tire Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Namibia Tire Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Namibia Tire Market study?

Frequently Asked Questions

A. The Namibia Tire Market is projected to grow at a CAGR of around 4% during 2021-26.

A. The rapidly growing vehicle fleet, owing to the increasing buying power of people & their mounting inclination toward private vehicle ownership, coupled with rising penetration of second-hand vehicles, are the most prominent factors projected to drive the Namibia Tire Market through 2026.

A. The rising public interest in adopting second-hand vehicles, i.e., positively impacting the demand for tires, is a key trend benefitting the Tire Market in Namibia.

A. Passenger cars are anticipated to emerge as an area of remunerative opportunities for the leading players in the Namibia Tire Market over the forecast years.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Namibia Tire Market
  5. Expert Verbatim-Interview Excerpts of industry experts
  6. Namibia Tire Market Analysis, 2016-2026
    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 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 Region
    4. By Competitors
      1. Total Units Sold
      2. Market Share
  7. Namibia Passenger Car Tire Market Outlook, 2016-2026
    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 Season
      5. By Sales Channel
      6. By Tire Rim Size
      7. By Leading Companies
    3. Passenger Car Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  8. Namibia Light Commercial Vehicle Tire Market Outlook, 2016-2026
    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 Season
      5. By Sales Channel
      6. By Tire Rim Size
      7. By Leading Companies
    3. Light Commercial Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  9. Namibia Medium & Heavy Commercial Vehicle Tire Market Outlook, 2016-2016
    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 Season
      5. By Sales Channel
      6. By Tire Rim Size
      7. 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. Namibia Two-Wheeler Tire Market Outlook, 2016-2016
    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 Season
      5. By Sales Channel
      6. By Tire Rim Size
      7. By Leading Companies
    3. Two-Wheeler Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  11. Namibia OTR Vehicle Tire Market Outlook, 2016-2026
    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 Season
      5. By Sales Channel
      6. By Tire Rim Size
      7. By Leading Companies
    3. OTR Vehicle Tire Market Attractiveness Indexing
      1. By Type of Vehicle
      2. By Season
      3. By Sales Channel
  12. Namibia Tire Market Value Chain Analysis
    1. Key Stakeholders in Value Chain
    2. Margin at Various Levels
  13. Namibia Tire Market Regulations, Policies, Regulation, Product Benchmarks
  14. Namibia Tire Market Trends & Insights
  15. Namibia Tire Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  16. Namibia Tire Market Hotspot & Opportunities
  17.  Namibia Tire Market Key Strategic Imperatives for Success & Growth
  18. Namibia 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 Corporation
      2. Continental
      3. Sumitomo Rubber Co.
      4. Goodyear
      5. Michelin
      6. Pirelli
      7. CST Tires
  20. Disclaimer
Namibia Tire Market Segmentation