Market Size, Growth & Valuation (2024-30)

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

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Angola Tire Market Structure – Segmentation & Geography

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

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

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.

Key Growth Driver (2024-2030)

Proliferating Mining Activities in the Country Propelling Tire Demand- The country's mining sector has been undergoing a burgeoning boom due to government programs and ample reserves of minerals in the country. The Angolan government is converting its natural resources into profitability by inviting the opportunity of investment and partnership to mining diamonds, iron ore, and several rare minerals in which the country holds large reserves from across the globe. This has consequently been accelerating the mining activities in the country. For instance, in 2023, Ivanhoe Mines started a greenfield mining exploration project in Angola over an area of around 22,195 km².

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Research Methodology

MarkNtel Advisors employs a thorough and iterative research methodology to enhance accuracy in market estimates. Our process combines bottom-up and top-down approaches, focusing on data triangulation for validation. It includes defining research objectives, selecting representative samples, and collecting data through surveys and interviews. Post-collection, we analyze and validate the data using statistical tools, ensuring reliability. Finally, we forecast market trends through predictive modeling, compiling our insights into detailed reports with charts and strategic recommendations for informed decision-making.

Competitive Analysis Framework

The Angola Tire industry is moderately fragmented, with key players focusing on technological advancements and strategic partnerships. A detailed competitive analysis helps businesses benchmark against industry leaders and identify growth opportunities.

Leading Angola Tire Companies 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 Questions Answered in This Report:

  1. What is the current market size of Angola Tire, and what growth rate is projected by 2030?
  2. Which key trends are driving Angola Tire market expansion in the next five years?
  3. How does market segmentation impact industry dynamics?
  4. Which geographic regions offer the highest growth potential?
  5. What are the primary challenges hindering Angola Tire industry growth?
  6. How do regulatory policies influence market development?
  7. What are the latest technological advancements impacting the sector?
  8. Who are the leading Angola Tire companies, and what are their market shares?
  9. What strategies are top competitors adopting to maintain dominance?
  10. What are the emerging niche segments with high growth potential?
  11. How do macroeconomic factors affect market performance?
  12. What are the investment opportunities for new entrants?
  13. How does pricing strategy vary across different market segments?
  14. What are the future innovation trends expected in this industry?

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