Tire industry in Sri Lanka has been
growing over the last five years due to rising automobile sales and fleet, on
account of increasing income levels, growing infrastructure sector and easy availability
of automobile loans at lower interest rates. During 2013-2015, automobile
market in Sri Lanka witnessed growth on the back of increasing new vehicle
registrations, with motor car sales and motorcycle sales standing at 105,628 units
and 370,889 units in 2015, respectively. This in turn positively influenced
demand for two wheeler tires in the country over the last couple of years. Moreover,
growing supply chain and logistics sector in the country is anticipated to
drive expansion of commercial vehicle fleet over the next five years, which is
expected to boost demand for commercial vehicle tires in the coming years.
According to TechSci
Research report, “Sri Lanka Tire Market
Forecast & Opportunities, 2021”, the tire market in Sri Lanka is expected
to reach US$ 488 million in 2016, on account of consistent increase in sales of
two wheelers and three wheelers, rising private sector investments in the
country’s construction, agriculture and industrial sectors, and expanding fleet
of commercial vehicles. With a fleet size of 3.36 million units of two wheelers
in 2015, the country’s tire market is dominated by two wheeler tire segment in
volume terms. CEAT Kelani, Global Rubber Industries (GRI) and Faga are few of
the major domestic tire manufacturing companies, while MRF Tires, Apollo, Goodyear
and Bridgestone are the major global tire companies operating in Sri Lanka. “Sri Lanka Tire Market Forecast &
Opportunities, 2021” report elaborates following aspects of tire market in
Sri Lanka:
- Sri
Lanka Tire Market Size, Share & Forecast
- Segmental
Analysis – Passenger Car Tires, Light Commercial Vehicle Tires, Medium &
Heavy Commercial Tires, Two Wheeler Tires, OTR Tires & Three-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 Sri Lanka
- 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 10% customization in the report without any extra charges and get the
research data or trends added in the report as per the buyer’s specific needs
Report
Methodology
The information contained in this report is
based upon both primary and secondary sources. Primary research included interviews with display manufacturers, suppliers and industry
experts. Secondary research included an exhaustive search of relevant
publications like company annual reports, financial reports and other
proprietary databases.