Kenya tyre market to exhibit moderate growth during through 2020, says TechSci Research
Anticipated growth in new two-wheeler and passenger car sales to boost tyre demand in Kenya through 2020
AA – According to TechSci Research report, “Kenya Tyre Market Forecast & Opportunities, 2020”, tyre market in Kenya is forecast to witness a moderate growth during 2015 – 2020. Backed by increase in domestic automotive demand and emergence of Kenya as a major East African commercial hub, tyre market in the country is projected to witness an increase in volume sales over the next five years. Kenya tyre market is a replacement driven tyre market as there is no automobile manufacturing facility in the country.
With a vehicle motorization rate of around 28 vehicles per 1,000 people, Kenya offers a huge potential for new vehicle sales over the next five years, thereby promising a positive outlook for the country’s tyre industry as well. Sameer Africa is the only domestic tyre manufacturing company in Kenya, while other global tyre companies such as Apollo, Pirelli, Dunlop, etc., operate in Kenya tyre market through the import route.
“Over the next five years, passenger car tyre would continue to dominate tyre market in Kenya, followed by two-wheeler & three-wheeler tyre, light commercial vehicle tyre, and medium & heavy commercial vehicle tyre, and OTR tyre segments. Also, passenger car tyre and two-wheeler & three-wheeler tyre cumulatively account for more than two-thirds share in the country’s tyre market, and this trend is expected to continue through 2020.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Kenya Tyre Market Forecast & Opportunities, 2020” has evaluated the future growth potential of Kenya tyre market and provides statistics and information on market structure, imports and trends of Kenya tyre market. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in Kenya tyre market.
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