News By Tag
News By Place
Follow on Google News
Passenger Vehicles in the Country is Catalyzing the Growth of Sudan Tire Market
The tire market in Sudan is mushrooming on account of recovering domestic demand for vehicles, growing automobile sales and favorable government policies.
According to MarkNtel Advisors' research report "Sudan Tire Market Analysis, 2020", the Sudan Tire market is expected to grow at a considerable CAGR during 2021-26. The tire market in Sudan is mushrooming on account of recovering domestic demand for vehicles, growing automobile sales and favorable government policies. The total population of Sudan was around 21.43 million in 2020. The demand for vehicles decreased in recent years. The total sales in the year 2019 was around 1,696 as compared to 3,400 in 2016.
Passenger Car Segment is Witnessing a Major Growth
Passenger car tire segment dominated Sudan tire industry in 2020, and the segment is expected to maintain its dominance during the forecast period as well on account of increasing fleet and recovering sales in the country. The demand for passenger cars is anticipated to proliferate throughout 2026.
Dealer/Distributor Segment Grabbed Lion's Share
Based on the sales channel, dealers and distributors acquired the majority market share in 2019. This is due strong presence of exclusive and authorized stores of the leading tire OEMs and Chinese tire brands present in the country. This is expected to positively impact toward the growth of tires market in the coming years. The online segment is witnessing a slow growth as reveled by the MarkNtel Advisors' research report "Sudan Tire Market Analysis, 2020".
"Sudan 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 Sudan 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 Sudan Tire market include MRF Limited, Bridgestone Middle East and Africa, Apollo Tyres, Michelin AIM FZE, CEAT Limited, Continental Aktiengesellschaft, Alliance Tire Co. Ltd., JK Tyre & Industries Ltd., Hangzhou Zhongce Rubber Co. LTD, Triangle Tyre Co. Ltd., etc.
Request to get the sample pages of the report: https://www.marknteladvisors.com/