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Ethiopia Tire Market Exceeds USD 2.08 billion in 2023, Predicts 3.48% CAGR Triumph Until 2030

Ethiopia Tire Market Exceeds USD 2.08 billion in 2023, Predicts 3.48% CAGR Triumph Until 2030

Ethiopia Tire Market A Dive from USD 2.08 billion in 2023/by 2030 | MarkNtel Advisors

MarkNtel Advisors has recently released an all-encompassing report on Ethiopia Tire market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.

Forecast 2030: Revealing Ethiopia Tire Market Insights and Analysis

The Ethiopia Tire Market size is valued at around USD 2.08 billion in 2023 and is estimated to grow at a CAGR of about 3.48% during the forecast period, i.e., 2024-30.

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Market Driver: Growing Awareness about Timely Repairs & Replacement of Tires

With stabilizing economic conditions in Ethiopia and growing sales of passenger vehicles, the demand for tires is significantly rising in the country. Consumers are becoming more aware of the significance & benefits of providing timely repairs & replacements to their vehicles & keep a check on the conditions of their tires. It, in turn, is augmenting the demand for replacement tires and playing a crucial role in driving the Tire Market across Ethiopia.

Besides, urbanization & advancements in the automotive sector are further anticipated to upsurge the demand for new vehicles and, in turn, positively influence the tire demand. As a result, the country is set to generate lucrative growth opportunities for the leading players in the tire industry to expand their product portfolio & customer base through 2024.

A Comprehensive Overview of Geographical Diversity:

the Ethiopia Tire Market expands across:

  • Oromia
  • Somali
  • Tigray
  • Amhara
  • Others

Explore Full Market Research Report – https://www.marknteladvisors.com/research-library/ethiopia-tire-market.html

Ethiopia Tire Market Segmentation Outline:

  • By Vehicle Type (Two-wheeler Tire, Passenger Car Tire, Light Commercial Vehicle (LCV) Tire, Medium & Heavy Commercial Vehicle (MHCV) Tire, Off-the-Road Vehicle (OTR) Tire)
  • By Demand Type (OEM, Replacement)
  • By Tire Type (Radial, Bias)
  • By Season (Summer Tires, All Season Tires)
  • By Sales Channel (Direct Sales, Dealer Distributor, Online Platform)
  • By Rim Size (Up to 12”, 12.1” to 15”, 15.1” to 18”, 18” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”)
  • By Price Category (Budget, Economy, Premium)

Competitive Outlook

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, and others

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfil their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.

Contact us:

Call: ? +1 628 895 8081, +91 120 4278433

Email: ? sales@marknteladvisors.com

Visit to know more: ? https://www.marknteladvisors.com/

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