Somalia 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, 2017- 2027

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Somalia tire market is forecast to undergo a CAGR of over 3% during the forecast period on account of increasing automobile sales and expanding the automobile fleet in the country. Apart from that, economic growth and growing construction activities are other vital factors propelling the growth of the Somalia tire market. Moreover, with the government's increasing focus on the development of infrastructure and industrial sectors, the Somalia tire market is expected to grow significantly through 2027.

Additionally, increasing circulation of Chinese tires, which are significantly low in cost, is another major factor boosting the growth of the Somalia tire market. With an expected increase in the inflow of used cars in the country, the country's tire market is anticipated to grow over the next five years.

Somalia tire market is segmented by vehicle type, demand category, radial vs. bias, and region. Based on vehicle type, the market can be categorized into passenger cars, LCV, M&HCV, OTR, two-wheeler, and three-wheeler. Among them, the passenger car segment dominated the country's tire market until 2021 and is expected to maintain its position during the forecast period. The reasons can be attributed to the rise in the sale of passenger vehicles and the increasing demand for replacement tires.

Major companies operating in the Somalia tire market are Apollo Tyres Ltd., CEAT Limited, JK Tyre & Industries Ltd., Michelin AIM FZE, Bridgestone Middle East & Africa FZE, MRF Limited, Shandong Wanda BOTO Tyre Co. Ltd., Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd. and Prinx Chengshan (Shandong) Tire Company, among others. Somalia tire market is dominated by Chinese tire companies, which hold more than 60% of the market share. Furthermore, leading tire manufacturers are undergoing mergers & acquisitions, partnerships, collaborations, joint ventures, and product innovation to strengthen their position in the Somalia tire market.

Objective of the Study:

  • To analyze and forecast the market size of Somalia tire market.
  • To classify and forecast Somalia tire market based on vehicle type, demand category, radial vs bias, company and region.
  • To identify drivers and challenges for Somalia tire market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Somalia tire market.
  • To identify and analyze the profile of leading players involved in the manufacturing tires in Somalia.


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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of tire dealers operating in the country. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels and regional presence of all major tire suppliers across Somalia.

TechSci Research calculated the market size for Somalia tire using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Tire manufacturers, suppliers, distributors and other stakeholders
  • Vehicle manufacturing companies
  • Raw material suppliers
  • Associations, organizations, forums and alliances related to tires
  • Government bodies such as regulatory authorities and policy makers
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as vehicle manufacturers, distributors and dealers, and policy makers. The study would also help the stakeholders to target the growing segments over the coming years, thereby aiding them in taking investment decisions and facilitating their expansion.

Attribute

Details

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022E

Forecast Period

2023F – 2027F

Quantitative Units

Revenue in USD Million, Volume in Units and CAGR for 2017-2021 and 2022E-2027F

Report Coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Vehicle Type

·         Demand Category

·         Tire Type

Region Scope

Lower Region, Upper Region and Middle Region

Key Companies Profiled

Apollo Tyres Ltd., CEAT Limited, JK Tyre & Industries Ltd., Michelin AIM FZE, Bridgestone Middle East & Africa FZE, MRF Limited, Shandong Wanda BOTO Tyre Co. Ltd., Hangzhou Zhongce Rubber Co. Ltd., GITI Tire (China) Investment Company Ltd. and Prinx Chengshan (Shandong) Tire Company.

Customization Scope

10% free report customization with purchase. Addition or alteration to regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Report Scope:

In this report, Somalia tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Somalia Tire Market, By Vehicle Type:

o    Passenger Car

o    Two-Wheeler

o    Medium & Heavy Commercial Vehicle

o    Light Commercial Vehicle

o    Off-The-Road Vehicle (OTR)

o    Three-Wheeler

  • Somalia Tire Market, By Demand Category:
    • OEM
    • Replacement
  • Somalia Tire Market, By Tire Type:
    • Radial vs Bias
  • Somalia Tire Market, By Region:
    • Lower Region
    • Upper Region
    • Middle Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Somalia tire market.

Available Customizations:

With the given market data, TechSci Research offers customizations according a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Somalia Tire Market

4.    Executive Summary

5.    Voice of Customer

5.1.  Brand Awareness & Recall

5.2.  Brand Satisfaction

5.3.  Challenges & Unmet Needs

6.    Somalia Tire Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-wheeler and Three -wheeler)

6.2.2.     By Demand Category (OEM Vs. Replacement)

6.2.3.     By Radial Vs Bias

6.2.4.     By Company (2022)

6.2.5.     By Region

6.3.  Market Attractiveness Index

6.3.1.     By Vehicle Type

7.    Somalia Passenger Car Tire Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type

7.2.2.     By Demand Category

7.2.3.     By Radial Vs Bias

7.3.  Market Attractiveness Index

8.    Somalia Two-Wheeler Tire Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type

8.2.2.     By Demand Category

8.2.3.     By Radial Vs Bias

8.3.  Market Attractiveness Index

9.    Somalia Medium & Heavy Commercial Vehicle Tire Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type

9.2.2.     By Demand Category

9.2.3.     By Radial Vs Bias

9.3.  Market Attractiveness Index

10.  Somalia Light Commercial Vehicle Tire Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Vehicle Type

10.2.2.  By Demand Category

10.2.3.  By Radial Vs Bias

10.3.              Market Attractiveness Index

11.  Somalia OTR Tire Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & Volume

11.2.              Market Share & Forecast

11.2.1.  By Vehicle Type

11.2.2.  By Demand Category

11.2.3.  By Radial Vs Bias

11.3.              Market Attractiveness Index

12.  Somalia Three-Wheeler Tire Market Outlook

12.1.              Market Size & Forecast

12.1.1.  By Value & Volume

12.2.              Market Share & Forecast

12.2.1.  By Vehicle Type

12.2.2.  By Demand Category

12.2.3.  By Radial Vs Bias

12.3.              Market Attractiveness Index

13.  Market Dynamics

13.1.              Drivers

13.2.              Challenges

14.  Import Export Analysis

15.  Market Trends & Developments

16.  Policy and Regulatory & Landscape

17.  Somalia Economic Profile

18.  Competitive Landscape

18.1.              Competition Outlook

18.2.              Players Profiled (Leading Companies)

18.2.1.  Apollo Tyres Ltd.

18.3.              Company Overview

18.4.              Products & Services

18.5.              Financials (If available)

18.6.              Current & Future Strategy

18.7.              Key Management

18.8.              Contact Details

18.8.1.  CEAT Limited

18.8.2.  JK Tyre & Industries Ltd.

18.8.3.  Michelin AIM FZE

18.8.4.  Bridgestone Middle East & Africa FZE

18.8.5.  MRF Limited

18.8.6.  Shandong Wanda BOTO Tyre Co. Ltd.

18.8.7.  Hangzhou Zhongce Rubber Co. Ltd.

18.8.8.  GITI Tire (China) Investment Company Ltd.

18.8.9.  Prinx Chengshan (Shandong) Tire Company

15. Strategic Recommendations

Figures and Tables

Frequently asked questions

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Factors like increasing automobile sales as well as expansion of automobile fleet in the country along with growing construction activities are driving the growth of the Somalia tire market in the forecast years, 2023-2027.

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Apollo Tyres Ltd., CEAT Limited, JK Tyre & Industries Ltd., Michelin AIM FZE, Bridgestone Middle East & Africa FZE, MRF Limited, among others are leading the Somalia tire market in the forecast period, 2023-2027.

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The Somalia tire market analysis was analyzed for the five historical years from 2017 to 2020. Keeping the base year 2020 as the margin, the estimation for the year 2022 was made and further market growth is predicted for the forecast years, 2023 to 2027.

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New market players may invest actively in research and innovative product development. Also, advancing their existent technology according to evolving consumer preferences along with merger and acquisitions with the Somalia giants can be viable strategic recommendations for the future brand establishments.

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Somalia Tire Market is Expected to Witness a Substantial Growth Through 2026

May, 2021

Expanding automobile fleet and increasing demand for replacement tires are some key factors expected to drive the growth of Somalia tire market in next five years.

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