With a population of around 91 million in 2015,
Vietnam has emerged as one of the rapidly developing markets for automotive
tires in Asia-Pacific region owing to favorable taxation reforms and regional
trade agreements. Due to continuous increase in the country’s per capita GDP,
motorization rate of Vietnam has been growing at a brisk pace. As per the data
released by the ASEAN Automotive Federation, the production of automobiles
(passenger car and commercial vehicles) in Vietnam increased from 100.47
thousand units in 2011 to 171.75 thousand units in 2015. Moreover, in 2014, the
Government of Vietnam approved the Automobile Sector Development Strategy and
Master Plan 2020. As per the plan, the country is expected to manufacture
227,000 units of automobiles and establish itself as the global supplier of
spare parts and high-value items by 2020. These factors are expected to
positively influence the country’s tire market over the next five years.
According to “Vietnam
Tire Market Forecast & Opportunities, 2021”, tire market in Vietnam is
projected to cross US$ 3 billion by the end of 2021. In 2015, the country’s tire
market was dominated by the two-wheeler tire segment, owing to huge and
continuously expanding two-wheeler fleet size. The country’s two-wheeler fleet
size is anticipated to increase from 45 million units in 2015 to 62 million
units by 2021. Region-wise, South
Vietnam was the largest
demand generator of tires during 2011-2015 as the region has evolved as the country’s
economic powerhouse due to largescale infrastructure development activities
coupled with increasing population and business activities. “Vietnam
Tire Market Forecast & Opportunities, 2021” discusses the
following aspects of tire market in Vietnam:
- Vietnam
Tire Market Size, Share & Forecast
- Segmental
Analysis – Two-Wheeler,
Passenger Car, Light Truck, Medium Truck, Heavy Truck, Bus and OTR
- Policy & Regulatory Landscape
- Changing
Market Trends & Emerging Opportunities
- Competitive
Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of Vietnam
tire market
- To identify the on-going trends and
anticipated growth in the next five years
- To help industry consultants, tire companies,
distributors and other stakeholders align their market-centric strategies
- To obtain research based business
decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading
market players
- To avail 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
Report Methodology
The information contained in this report is
based upon both primary and secondary research. Primary research included
interaction with tire companies, distributors and industry experts. Secondary
research included an exhaustive search of relevant publications like company
annual reports, financial reports and proprietary databases.