Eritrea Tire Market – Forecast to Grow 4% by 2022 – Dominated by Chinese Companies – Research and Markets
Replacement demand dominated Eritrea tire market, as there are no automobile manufacturing facilities in the country. Eritrea is prominently divided into three regions including Northern, Central and Southern region, with Central region, dominating tire demand in the country.
Growth of the tire industry of the country is prominently backed by growing sales of vehicles and expanding automobile fleet in the country. Increasing population of the country is also boosting demand for automobiles and related tire products. As per the CIA, population of the country stood at 5.86 million in 2016. Moreover, rising government focus on development of infrastructure and industrial sectors is further anticipated to boost demand for automobiles and related tire products in the country during 2017-2022.
According to “Eritrea Tire Market Forecast & Opportunities, 2022’’, Eritrea tire market is forecast to grow at a CAGR of over 4% during 2017-2022 driven by consistently expanding automobile fleet size, increasing infrastructural developments and increasing average selling prices of tires. Eritrea tire market is dominated by Chinese tire companies, which accounts for more than 50% share in the country’s tire market. Other leading flagship tire companies operating in Eritrea include Bridgestone, MRF, Apollo, CEAT, etc.
“Eritrea Tire Market Forecast & Opportunities, 2022’’ report elaborates following aspects of tire market in Eritrea:
– Eritrea Tire Market Size, Share & Forecast
– Segmental Analysis – By Vehicle Type (Passenger Car Tires, Light Commercial Tires, Medium and Heavy Commercial Vehicle Tires, Off-The-Road (OTR) Tires &Two-Wheeler Tires)
– Policy & Regulatory Landscape
– Changing Market Trends and Emerging Opportunities
– Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
– To gain an in-depth understanding of tire market in Eritrea
– To identify the on-going trends and segment wise anticipated growth in the coming years
– To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
– To obtain research based business decision and add weight to presentations and marketing material
– To gain competitive knowledge of leading players
– To avail of 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with vehicle manufactures, tire companies, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.