Sudan tire market to cross $18.50 million by 2022, TechSci Research
The tire market in Sudan is anticipated to cross $18.50 million by 2022, on account of recovering domestic demand, growing automobile sales and favorable government policies, according to recently released TechSci Research report, “Sudan Tire Market Forecast & Opportunities, 2022”.
The report further adds that expanding automobile fleet coupled with growing GDP per capita, which increased from USD1,596 in 2011 to USD2,414 in 2015, are expected to aid the country’s tire market over the next five years.
Passenger car tire segment dominated Sudan tire industry during 2012 – 2016, 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. In 2016, Khartoum region accounted for the largest share in the country’s tire market, followed by South Darfur and Al Gezira regions. Some of the major players operating in the country’s tire market are MRF, Bridgestone, Apollo, Michelin, Ceat and Continental, among others.
“Sudan tire market is a replacement driven market. The country's tire demand is catered through imports, consequently making it highly dependent on imports. Citing the demand supply gap, tire manufacturing companies operate in Sudan by importing tires into the country and then distributing them through chains of exclusive distributors and dealers.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Sudan Tire Market Forecast & Opportunities, 2021” has analyzed the potential of Sudan tire market, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.
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