Ethiopia Tire Set to Grow at 3.48% CAGR by 2030

According to recent findings, the Ethiopia Tire Market size is valued at around USD 2.08 billion in 2023 and is estimated to grow at a CAGR of about 3.48% during the forecast period, i.e., 2024-30.

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

Ethiopia Tire Overview:

The market growth is driven primarily by the mounting government focus on improving the overall economic conditions of the country and its several initiatives toward addressing the declining oil prices increasing geopolitical tensions.

It, in turn, is generating lucrative opportunities for automakers prominent tire manufacturers to establish manufacturing units across the country and boost the market. Besides, the active participation of the government leading players in the market is attracting foreign investments into Ethiopia to set up tire manufacturing facilities, which, in turn, is improving the country's economic scenario.

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Ethiopia Tire Outlook and Market Opportunity:

Electric Vehicle Tire Creating Opportunity in the Market – The advent of Electric Vehicles (EVs) in the country marks a pivotal step in combating carbon emissions promoting sustainability. Heightened awareness of environmental sustainability and carbon footprint reduction has prompted the government to take action.

Notably, all import taxes for electric vehicles have been waived in 2023 to increase the adoption of electric vehicles in the country. This forward-looking trend opens up substantial growth avenues for industry leaders in the tire sector. It entices them to create EV-compatible tires, which would contribute to the total growth of the tire business in the coming years .

Global Ethiopia Tire Segmentation Analysis:

By Vehicle Type

Two-wheeler Tire- Market Size Forecast 2019-2030, (Thousand Units)
- Moped- Market Size Forecast 2019-2030, (Thousand Units)
- Scooter- Market Size Forecast 2019-2030, (Thousand Units)
- Motorcycles- Market Size Forecast 2019-2030, (Thousand Units)
Passenger Car Tire- Market Size Forecast 2019-2030, (Thousand Units)
- SUV- Market Size Forecast 2019-2030, (Thousand Units)
- Hatchback- Market Size Forecast 2019-2030, (Thousand Units)
- Sedan- Market Size Forecast 2019-2030, (Thousand Units)
Light Commercial Vehicle (LCV) Tire -Market Size Forecast 2019-2030, (Thousand Units)
- Light Truck- Market Size Forecast 2019-2030, (Thousand Units)
- Light Bus- Market Size Forecast 2019-2030, (Thousand Units)
- Pick-up Trucks Vans- Market Size Forecast 2019-2030, (Thousand Units)
Medium Heavy Commercial Vehicle (MHCV) Tire -Market Size Forecast 2019-2030, (Thousand Units)
- Bus- Market Size Forecast 2019-2030, (Thousand Units)
- Truck- Market Size Forecast 2019-2030, (Thousand Units)
Off-the-Road Vehicle (OTR) Tire-Market Size Forecast 2019-2030, (Thousand Units)
- Earthmoving Equipment-Market Size Forecast 2019-2030, (Thousand Units)
- Material Handling Equipment-Market Size Forecast 2019-2030, (Thousand Units)
- Industrial Mining Equipment-Market Size Forecast 2019-2030, (Thousand Units)

According to reports, Passenger Cars dominated the Ethiopia Tire Market with the largest share in previous years, and the same trend is projected during 2024-30.

By Demand Type

OEM - Market Size Forecast 2019-2030, (Thousand Units)
Replacement - Market Size Forecast 2019-2030, (Thousand Units)

According to reports, The immense popularity of Chinese tires in Ethiopia is augmenting the market growth for Replacement Tires owing to their easy availability, extensive variety, and affordable price range.

By Tire Type

Radial- Market Size Forecast 2019-2030, (Thousand Units)
Bias - Market Size Forecast 2019-2030, (Thousand Units)

By Season

Summer Tires- Market Size Forecast 2019-2030, (Thousand Units)
All Season Tires- Market Size Forecast 2019-2030, (Thousand Units)

By Sales Channel

Direct Sales- Market Size Forecast 2019-2030, (Thousand Units)
Dealer Distributor - Market Size Forecast 2019-2030, (Thousand Units)
Online Platform- Market Size Forecast 2019-2030, (Thousand Units)

By Rim Size

Up to 12” - Market Size Forecast 2019-2030, (Thousand Units)
1” to 15” - Market Size Forecast 2019-2030, (Thousand Units)
1” to 18” - Market Size Forecast 2019-2030, (Thousand Units)
18” to 22.5” - Market Size Forecast 2019-2030, (Thousand Units)
6” to 26” - Market Size Forecast 2019-2030, (Thousand Units)
1” to 35” - Market Size Forecast 2019-2030, (Thousand Units)
1” to 47” - Market Size Forecast 2019-2030, (Thousand Units)
Above 47” - Market Size Forecast 2019-2030, (Thousand Units)

By Price Category

Budget- Market Size Forecast 2019-2030, (Thousand Units)
Economy- Market Size Forecast 2019-2030, (Thousand Units)
Premium- Market Size Forecast 2019-2030, (Thousand Units)

By Region

Oromia- Market Size Forecast 2019-2030, (Thousand Units)
Somali- Market Size Forecast 2019-2030, (Thousand Units)
Tigray- Market Size Forecast 2019-2030, (Thousand Units)
Amhara- Market Size Forecast 2019-2030, (Thousand Units)
Others- Market Size Forecast 2019-2030, (Thousand Units).

For deeper insights into the market, explore the summary of the research report – https://www.marknteladvisors.com/research-library/ethiopia-tire-market.html

Some of the Market players in the Global Ethiopia Tire are:

Bridgestone Corporation
Continental AG
Maxxis International
Michelin
Goodyear Tire Rubber Co.
Pirelli C. S.P.A.
Sumitomo Rubber Industries, Ltd.
MRF Limited
CEAT Limited
Apollo Tires Ltd
Others.

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Key Highlights of the Report – Unlock Valuable Market Insights

Market Size, Share Future Projections – Understand the current market dimensions and forecasted growth trajectory.
In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
Company Strategies Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
Key Stakeholders Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
Import Export Dynamics – Analyze global trade flows, regional export trends, and supply chain movements.
Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
Market Trends Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

Define objectives and research design
Collect data through surveys and interviews
Analyze and validate data using reliable tools
Forecast trends and deliver actionable insights

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