Kenya Two-Wheeler Tire Market Growth 2024, Revenue, Demand, Challenges, Upcoming Trends, Key Players, Business Challenges and Forecast 2033: SPER Market Research
A tyre is a circular piece of automotive equipment that extends from the outside of the wheel rim and is covered in rubber. The main purpose of the tyre is to transfer tractive power from the vehicle to the road surface while simultaneously protecting the wheel rim. Because rubber is used in its construction, it also functions as a flexible cushion to lessen vibrations and absorb tension from the car. A rubber tyre is made up of tread, carbon black, beads, jointless cap piles and cloth.
According to SPER Market Research, ‘Kenya Two-Wheeler Tire Market Size – By Vehicle Type, By Demand Type, By Price Category, By Tire Type, By Sales Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Kenya Two-Wheeler Tire Market is estimated to reach USD XX million by 2033 with a CAGR of 13.27%.
Drivers: Boosting Sales of Two-Wheelers Because of High Unemployment, the market will be driven. People are encouraged to start their own firms and labour in the informal sector by Kenya’s high unemployment rate. For money, a lot of unemployed people turn to small-scale enterprises, courier services, and motorbike taxis. Two-wheelers are therefore in greater demand in order to support these unofficial economic activities. The World Bank estimates that Kenya’s motorbike taxi, or “boda boda,” industry employs over 1.5 million young people and boosts the country’s GDP by about USD 1.4 billion annually. The market demand for tyres is directly influenced by the widespread use of motorbikes and scooters.
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Restraints:
Significant Differences in Raw Material Prices – The tyre industry in Kenya has challenges from fluctuating raw material prices, a shortage of natural rubber leading to higher input costs, and escalating oil prices. Since crude oil is the raw material used to produce almost all other raw materials, its price has an impact on those prices. Rubber, both natural and synthetic, is the primary raw material used in the production of tyres, accounting for the majority of the cost. Prices for crude oil have lately skyrocketed nationwide. Therefore, it is anticipated that in the upcoming years, the price of synthetic rubber and other raw materials used in the production of tyres would increase.
Kenya’s tyre industry was impacted by the Covid-19 outbreak, which hindered the expansion of other industries. To stop the spread of this terrible sickness, the government imposed harsh limits on movement, lockdowns, and cross-border trade. These actions presented a number of unprecedented hurdles to the market. Since Kenya imports most of its tyres, trade limitations have a big influence on the availability of tyres there.
Kenya Two-Wheeler Tire Market Key Players:
The market for two-wheeler tyres in Kenya is dominated by the country’s western area. This is mostly because motorbike taxis, or boda bodas, are so common in these areas as a means of transportation. Bridgestone Corporation, Michelin, Continental AG, Yokohama TWS (Mitas), Pirelli Tyre S.p.A, and Others are some of the major companies in the market.
Kenya Two-Wheeler Tire Market Segmentation:
By Vehicle Type: Based on the Vehicle Type, Kenya Two-Wheeler Tire Market is segmented as; Scooter & Moped, Motorcycle.
By Demand Type: Based on the Demand Type, Kenya Two-Wheeler Tire Market is segmented as; OEMs, Replacement.
By Price Category: Based on the Price Category, Kenya Two-Wheeler Tire Market is segmented as; Budget, Economy, Premium.
By Tire Type: Based on the Tire Type, Kenya Two-Wheeler Tire Market is segmented as; Radial, Bias.
By Sales Channel: Based on the Sales Channel, Kenya Two-Wheeler Tire Market is segmented as; Online, Multi-brand Stores, Exclusive Outlets, Direct.
By Region: This research also includes data for Eastern, Northern, Southern, Western.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Kenya Two-Wheeler Tire Market Future Outlook
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