Food Delivery is Contributing in the Demand for Ethiopia Tire Market

The Ethiopia Tire market is anticipated to grow at a considerable CAGR during 2021-2026.
DELTA, British Columbia - Dec. 14, 2020 - PRLog -- Rising population and preference for technologically advanced tires is burgeoning the growth of tires in Ethiopia. Also, the country is price sensitive thus, prefers to purchase budget and low quality tires. The demand for two-wheeler vehicles is more in the country as compared to passenger cars.

According to MarkNtel Advisors' research report "Ethiopia Tire Market Analysis, 2020", the Ethiopia Tire market is expected to grow at a considerable CAGR during 2021-26. The online delivery services would foresee an increase in the demand for tires as food delivery agents travels long distances in a day when reduces the life of the tire. This helps in the growth of tire replacement. Also, the Covid-19 pandemic forced the people to stay home resulting a good opportunity for the e-commerce industry to grow. Thus, this would bolster the demand for the vehicles as well as tires which would further anticipate to spur the demand for tires in the near future.

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Budget Tire Segment is Witnessing a Major Growth

The Budget category tire (USD10 – USD15) captured the majority market share in the tire market as Ethiopia is also among the price-sensitive market where consumers in the tire market prefer imported low-priced Chinese tires rather than the expensive European and American brands. Thus, the customer in the country are more towards the budget category due to the reasonable pricing.

However, the demand for economy (USD16 – USD25) and premium (Above USD25) category tires is few among the customer due to its price range which make it less affordable for the people along with limited purchase of sport bikes in the country which generally require the demand for these tires. The segment would continue to spur throughout 2026 as revealed by the MarkNtel Advisors' research report "Ethiopia Tire Market Analysis, 2020".

"Ethiopia Tire Market Analysis, 2020"
provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Ethiopia Tire providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

According to MarkNtel Advisors', the key players with a considerable market share in the Ethiopia Tire market include Goodyear Tire & Rubber Co., Pirelli &C. SpA, Continental AG, Michelin, Apollo Tyres Ltd., Sumitomo Rubber Industries Ltd., CEAT Tire Ltd., Maxxis International, Bridgestone Corp., MRF Ltd., Etc.

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