The Africa Tire Market size was valued at around USD 6.35 billion in 2024 and is expected to reach USD 8.34 billion in 2030. Along with this, the market is estimated to grow at a CAGR of around 4.65% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Africa Tire Market Driver:
Rising Vehicle Parc Expansion and Urban Mobility Demands – The Africa tire market is experiencing robust growth, primarily driven by the continuous expansion of the vehicle parc across the continent. As urbanization accelerates and disposable incomes rise, more Africans are purchasing vehicles for both personal and commercial use. This surge in vehicle ownership, especially in passenger cars and light commercial vehicles, directly translates into higher demand for both original equipment manufacturer (OEM) and replacement tires.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Africa Tire Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Vehicle Type
- Passenger Car
- Light Commercial Vehicle (LCV)
- Medium and Heavy Commercial Vehicle (M&HCV)
- Two-Wheeler
- Three-Wheeler
- Off Road Tire (OTR)
- By Demand Category
- OEMs
- Replacement
- By Tire Type
- Radial
- Bias
- By Sales Channel
- Direct Sales
- Online
- Multibrand Stores
- By Rim Size
- Up to 12”
- 12.1” to 15”
- 15.1” to 18”
- 18.1” to 20”
- 20.1” to 22.5”
- 22.6” to 26”
- 26.1” to 35”
- 35.1” to 47”
- Above 47”
- By Country
- Nigeria
- Algeria
- Egypt
- Morocco
- South Africa
- Ethiopia
- Sudan
- Eritrea
- Djibouti
- Tanzania
- Ghana
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Bridgestone, Goodyear, Michelin, Continental, Hankook, Kumho, Toyo, Triangle, Zhongce Rubber, Sumitomo and others are looking forward to strengthening their market positions.
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Africa Tire Industry Recent Development:
2024: Hankook, inaugurated its first commercial branch in Morocco, establishing a subsidiary in Casablanca to strengthen its footprint in the Maghreb and West Africa regions. Don Yi Jeon, with a strong background in marketing and sales at Hankook, was appointed as Managing Director of the Moroccan branch, underscoring the company’s commitment to regional market development and customer proximity.
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