Angola Tire Market Overview 2024–2030: Demand & Future Trends

According to recent findings, the Angola Tire Market is estimated to grow at a CAGR of around 11.6% during the forecast period.

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Angola Tire Overview:

The increase in the adoption of various motor vehicles by consumers in the country has mainly fostered the growth in the market for Angola tires. Moreover, the steadily increasing employment rate in Angola is leading to the increasing purchasing power of consumers in the country, which in turn is leading to improved affordability. Eventually, surging the sales of personal vehicles. With all these factors, the adoption of personal vehicles is increasing. For Instance,

In 2022, passenger car sales in Angola amounted to nearly 2,300 units, increasing by around 1.5% from the previous year.

This surging adoption of vehicles has been increasing to on-road vehicles, thereby increasing demand for good quality and reliable tires. In addition to this, normal wear and tear of tires due to various adverse road conditions in some parts, coupled with replacement demand for tires every few years, has surged demand for aftermarket tires in vehicles, thereby propelling market growth in the country.

The entry of Chinese electric vehicle suppliers is transforming the automotive industry’s dynamics. Despite poor electric vehicle charging infrastructure, consumer traction towards EVs is soaring. In 2024, the sale of approximately 4,000 electric cars in Angola increased the adoption of electric vehicles by almost 100% compared to the previous year. The rising adoption of electric vehicles has been leading to an increase in the demand for electric vehicle-specific tires in the country. EV adoption has led to the growing demand for more efficient, high-performance, and durable tires, which accelerates market growth in the country.

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Angola Tire Outlook and Market Opportunity:

Rising Government Initiatives to Boost Infrastructure Development in Angola Generating Tire Demand– In line with the Angolan government's strategy to diversify and boost economic growth, infrastructure development has been emerging as a significant step. The government has been focusing on developing a well-built public infrastructure, to improve transportation, energy, and telecommunication networks within its country. The government is also developing road and rail networks, which have integrated the country's remote regions into major cities and ports, and advanced access to markets. The rehabilitation and expansion of highways and railways are in line to reduce transport costs, improve logistics, and increase the movement of goods and people within the country. For this, the government has been forming partnerships with other countries to get investments for these projects, which have been surging the infrastructure activities in the country. For Instance, in 2023, the U.S. Government signed a seven-side MOU with the government of Angola for key rail infrastructure investments in the country.

The growing construction activities and infrastructure developments have propelled the popularity of construction machinery in the Angolan market. This, in turn, has increased demand for tire replacement on such equipment and heavy vehicles, generating the current and OTR tire demand. Thus, with these increasing investments and continuous government focus on infrastructure development, the requirement for the OTR tire for construction equipment is expected to surge, creating opportunities in the Angola Tire Market.

Global Angola Tire Segmentation Analysis:

By Vehicle Type

Passenger Cars- Market Size Forecast 2019-2030F, Thousand Units
Light Commercial Vehicles- Market Size Forecast 2019-2030F, Thousand Units
Medium Heavy Commercial Vehicles- Market Size Forecast 2019-2030F, Thousand Units
Off the Road (OTR) Vehicles- Market Size Forecast 2019-2030F, Thousand Units
Two Wheelers- Market Size Forecast 2019-2030F, Thousand Units
Three Wheelers- Market Size Forecast 2019-2030F, Thousand Units

According to reports, Out of them all, the passenger car segment holds a considerable market share in the Angola Tire Market.

By Demand Type

OEM- Market Size Forecast 2019-2030F, Thousand Units
Aftermarket- Market Size Forecast 2019-2030F, Thousand Units

According to reports, Based on demand type, the aftermarket segment holds a substantial share of the market owing to the old vehicle fleet in the country.

By Type of Tire

Radial- Market Size Forecast 2019-2030F, Thousand Units
Bias- Market Size Forecast 2019-2030F, Thousand Units

By Tire Size

Tire Size-1- Market Size Forecast 2019-2030F, Thousand Units
Tire Size-2- Market Size Forecast 2019-2030F, Thousand Units
Tire Size-3- Market Size Forecast 2019-2030F, Thousand Units
Tire Size-4- Market Size Forecast 2019-2030F, Thousand Units
Tire Size-5- Market Size Forecast 2019-2030F, Thousand Units

By Price Category

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

By Sales Channel

Multi-brand Stores- Market Size Forecast 2019-2030F, Thousand Units
Exclusive Outlets- Market Size Forecast 2019-2030F, Thousand Units
Online- Market Size Forecast 2019-2030F, Thousand Units.

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

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

Bridgestone Americas Tire Corporation, LLC
Continental Tire the Americas, LLC.
Michelin Commercial Tires
The Goodyear Tire Rubber Company
Hankook Tire Technology Co., Ltd.
Kumho Tire Co, Inc.
JK Tyre Industries
Pirelli Tyre S.p.A
Yokohama Rubber Co., Ltd.
Toyo Tire Corporation.

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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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