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Namibia Tire Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of Namibia 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
Namibia had 2,129 confirmed cases in July 2020, therefore all the schools were suspended due to the enlarging number of cases of coronavirus. The halt in the country led to the disruption of supply chain and impacted the imports of tires from other countries.
Market Opportunities
According to MarkNtel Advisors’ research report “Namibia Tire Market Analysis, 2020”, the Namibia Tire market is anticipated to grow at a considerable CAGR during 2021-26. Namibia is an import driven market and the tires are majorly imported from South Africa, Spain, United States, Japan, Netherlands and China, etc. Namibia has no manufacturing of tires and there is no presence of OEMs. The major growth factors for the tires is owing to the rising population and preference for passenger vehicles. Namibia has an established market for tire recycling.
Market Segmentation
Ride Hailing Services is Witnessing a Significant Growth
Ride Hailing services are in Namibia is gaining traction recently. In 2018, LEFA a mobility start-up was launched in the country when there was a secure internet connection in the city. The startup unveiled immense opportunities in for the ride hailing business. LEFA taxi operates in Windhoek and the surroundings. It provides transfer services for Hosea Kutako International Airport as well. The app is operated through an app. In 2019, the company came into a partnership with PayToday company to offer ride-hailing payment solutions. Therefore, launch of cab services in the country generated a demand for tires in the country as well. The demand for tires is expected to increase throughout 2026 as the tires gets wear and tear as the cabs travel long distances each day as revealed by the MarkNtel Advisors’ research report “Namibia Tire Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the Namibia Tire market include Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, CST Tires, BF Goodrich tyres, Dunlop Tires, Maxxis Tires, 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 Namibia 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 Namibia Tire Market during 2021-26?
A. The growth rate of Namibia Tire Market during 2021-26 is forecast to grow at a considerable CAGR.
Q. Who are the key competitors or players operating in Namibia Tire Market?
A Bridgestone Corporation, Continental, Sumitomo Rubber Co., Goodyear, Michelin, Pirelli, CST Tires, BF Goodrich tyres, Dunlop Tires, Maxxis Tires, etc are few of the leading players in the Namibia Tire Market.
Q. Which type of tire segment would emerge as an opportunity area for players in Namibia Tire Market?
A. Radial 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 Namibia Tire Market?
A. Passenger car grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of Namibia Tire Market.
