Press release
Kenya Tire Market is Poised to Grow at a CAGR of 5.53% Through 2025 | TechSci Research
According to TechSci Research report, “Kenya Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2015- 2025”, Kenya tire market is forecast to witness a substantial growth with 5.53% CAGR during the forecast period. Key factors driving the growth of Kenya tire market are rise in per capita disposable income, increasing middle-class population and growing demand for automobiles in the country. The country is considered as one of the largest and most progressive economies in East and Central Africa region. Rising vehicle sales coupled with favourable government policies are expected to boost the tire market in Kenya over the next five years. Moreover, the tire industry of the country is majorly dependent on imports and is highly price sensitive. Hence, tire manufacturers are coming up with low-cost tires in order to meet the requirements of end users.
Furthermore, rising vehicle motorization rate of the country offers a huge potential for new vehicle sales over the next five years, thereby promising a positive outlook for the country’s tire industry as well. The increasing penetration of Chinese tires and entry of global tire manufactures are also fuelling the growth of Kenya tire market. Apart from that, introduction of advanced tires and technological advancement in automobile industry is anticipated to further boost the growth of tire market in Kenya over the next five years. However, Kenya tire market is facing the issue of taxation. The tire manufacturers are also conserved about illegal dumping of international tire brands.
Browse 77 market data Figures and Tables spread through 159 Pages and an in-depth TOC on "Kenya Tire Market"
https://www.techsciresearch.com/report/kenya-tire-market/7203.html
Kenya tire market is segmented based on vehicle type, demand category, radial vs bias and region. Based on vehicle type, the market can be categorized into passenger car, LCV, M&HCV, OTR, two-wheeler and three -wheeler. Among them, the passenger car tire segment dominated the market until 2019 and the trend is expected to continue during the forecast period as well. The reasons can be attributed to increasing passenger car fleet size of the country. Based on demand category, Kenya tire market is mostly a replacement driven tire market due to absence of any automobile manufacturing facility in the country.
Leading market players in Kenya tire market are Michelin Kenya Sdn. Bhd., Giti Tire Pte. Ltd., MRF Limited, Pirelli & C. S.p.A., Goodyear Tire & Rubber Industries, Sumitomo Rubber Industries Ltd., Maxxis Tires Kenya, Kumho Tyre, Apollo Tyres Ltd. and Bridgestone Middle East & Africa FZE. Sameer Tire Company was the only domestic tire manufacturer operating in the country but it discontinued its operations in 2016. Key growth strategies being adopted by tire companies operating in Kenya are product innovation, collaborations, mergers & acquisitions, partnerships and joint ventures.
“Nairobi, Mombasa and Kisumu provinces account for majority of the overall tire demand in the country, and this trend is expected to continue over the forecast period as well. Moreover, tire manufacturers are also benefiting from increasing penetration of cheaper maintenance Chinese brand two-wheelers in the country. The availability of cheaper Chinese tires is making American and European tire brands face stiff competition.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=7203
Customers can also request for 10% free customization on this report.
“Kenya Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2015- 2025” has analyzed the potential of Kenya tire market, and provides information and statistics on market structure, size and trends. The report is designed to provide the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Kenya tire market.
Browse Related Reports
Saudi Arabia Tire Market By Vehicle Type (Passenger Car, LCV, MHCV, OTR, and Two-wheeler), By Radial Vs Bias, By Online vs Offline Sales Channel, Competition Forecast & Opportunities, 2012 – 2022
https://www.techsciresearch.com/report/saudi-arabia-tire-market/2097.html
Global Ultra High Performance (UHP) Tire Market By Vehicle Type (Passenger Car Vs Two-Wheeler), By Tire Type (Summer & All-Season Vs Winter), By Demand Category (Replacement Vs OEM), By Region, Competition Forecast & Opportunities, 2013 – 2023
https://www.techsciresearch.com/report/ultra-high-performance-uhp-tire-market/2086.html
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Connect with us on Twitter - https://twitter.com/TechSciResearch
Connect with us on LinkedIn - https://www.linkedin.com/company/techsci-research
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Kenya Tire Market is Poised to Grow at a CAGR of 5.53% Through 2025 | TechSci Research here
News-ID: 2196490 • Views: …
More Releases from TechSci Research
India Dental Consumables Market: Analyzing the Key Segments and an 8.22% CAGR
The Foundation: Market Overview & Key Figures
Imagine a world where the simple act of a smile is a luxury, where toothaches are an accepted part of life. For many people in India, this has been the reality. But things are changing, and they're changing fast. The numbers tell a compelling story. According to a TechSci Research report, the India Dental Consumables Market was valued at a robust USD 234.65 million…
2030 Saudi Facility Management Market Outlook: Smart Cities Boost Demand
Market Outlook
The Saudi Arabia Facility Management Market was valued at USD 27.28 Billion in 2024 and is anticipated to reach USD 43.80 Billion by 2030, registering a strong CAGR of 8.05% during the forecast period. The market is driven by the country's growing investment in infrastructure, real estate development, and Vision 2030 initiatives aimed at diversifying the economy and enhancing public-private partnerships. The expansion of commercial and residential spaces, coupled…
Small Arms and Light Weapons Market to Grow at 6.59% CAGR Through 2029 - TechSci …
"Military modernization initiatives worldwide drive demand for advanced and modular SALW, emphasizing technological innovation are the factors driving Small Arms and Light Weapons market in the forecast period 2025-2029."
According to TechSci Research report, "Small Arms and Light Weapons Market - Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029", The Global Small Arms and Light Weapons Market stood at USD 13.75 Billion in 2023 and is anticipated to grow…
Anticipating Growth: Luxury Sunglasses Market to Reach US$ 14.86 Billion with a …
TechSci Research's report on the "Global Luxury Sunglasses Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029" reveals that the market reached USD 14.86 billion in 2023, projecting a 4.2% CAGR from 2025 to 2029. This market segment thrives within the broader eyewear industry, offering high-end, premium sunglasses to discerning consumers seeking exclusivity and sophistication. Driven by evolving fashion trends, increasing disposable incomes, and growing brand consciousness, the…
More Releases for Ken
Global Biosolids Market: Ken Research
Biosolids are organic matter recovered from a wastewater treatment procedure. It is prominently utilized as a soil conditioner or fertilizer. They comprise high number of micronutrients such as calcium, magnesium, and others. They also entail numerous micronutrients demanded for plant growth. The conversion of wastewater in a serviceable resource has become the need of the hour owing to the depletion of non-renewable energy sources. All these aspects will help in…
Online Advertising Market: Ken Research
Online advertising denotes to a kind of marketing and advertising practice that employs the internet to encourage services and products. It carries the promotional marketing messages by collecting data and pointing potential customers. Countless tools and techniques are used to encourage these services such as e-mail, sales CRM, marketing automation and web analytics. This mode of advertising is expansively used across different sectors like retail, healthcare, education, automotive, banking, Consumer…
Global Borescope Market: Ken Research
Borescope is basically an electrical optical gear that is allowed with a display that aids in surveillance of aircraft engines, industrial gas turbines, particularly the gas turbines, fuel systems and steam turbines due to their high safety measures. The structural form of borescope entails a flexible or non-flexible tube connecting camera on the verge of hollow tube and visual display. Fundamentally, it's a device utilized for monitoring interiors of a…
3-Acetylpyridine Market: Ken Research
3-Acetylpyridine, also better known as methyl 3-pyridyl, is an organic compound with the formula C7H7NO. It is utilized mainly as a building block in the pharmaceutical, flavour and fragrance industry.
According to the report analysis, 'Global 3-Acetylpyridine (CAS 350-03-8) Market, 2021-2027' states that Koei Chemical Co., Ltd, and Rashig GmbH are the foremost market players which presently working in the global 3-Acetylpyridin (CAS 350-03-8) market more energetically for keep maintaining…
Customer Loyalty Survey: Ken Research
Customers always value businesses that are open to criticism and convey a platform to share their experience, gripes and concerns. To take your business to next level, you have to take countless steps that conform finest engagement and augment customer satisfaction.
Throughout the present era, countless individuals are at least slightly unwilling to be interrogated by the online vendors. With the actual augment in news about how social media enterprises belligerently…
Agriculture Equipment Market: Ken Research
The agriculture equipment denotes to the tools that a farmer utilizes to function a specific agriculture operation. The implementation of automation in these tools is an augmenting trend. The agriculture machinery is equipped with the IoT applications, GPS solution and several others used in every vertical involving, threshing, land development, harvesting and soil preparation.
Not only has this, the requirement for agriculture tools is augmenting year on year. The governmental bodies…
