(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 19, 2021, 02:01 /Comserve / -- Algeria is largely an import-driven market where Chinese suppliers dictate the market. Thus, to restrict the import of automobiles from other countries, the government intermittently imposes import tariffs.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
Algeria is largely an import-driven market where Chinese suppliers dictate the market. Thus, to restrict the import of automobiles from other countries, the government intermittently imposes import tariffs. The government is focusing on developing domestic production in the country. In 2019, Algeria imported 66% of the tires from China, 7% from Japan, 2.5% from Germany in 2019.
Chinese companies have been targeting the price-sensitive end users of tires in the passenger car segment. This consumer price sensitivity has resulted in the US and European tire suppliers to retract or re-strategize their positioning in Algeria. Moreover, Chinese manufacturers are also assisting local companies such as Saterex to set up a tire plant in Algeria. According to the MarkNtel Advisors' research report titled“Algeria Tire Market Analysis, 2020”, the CAGR of the market is expected to be around 6% during 2020-25.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Algeria Tire Market Analysis, Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast 2020
Radial Tires Outpaced the Bias Tires in Algeria Tire Market
As the tire industry is undergoing rapid radicalization, radial tires are substituting the old conventional bias tires. Around 90% of the light commercial vehicles and passenger cars have radial tires installed in them in 2019. However, bias tires still capture a major market share the medium-heavy vehicles and the OTR vehicles segment. Moreover, based on the rim size is 2019, the rim diameter of 15” to 17” acquired the largest market share rising from the OEMs such as BMW, Mercedes, Honda, Hyundai, Ford etc. These manufacturers are focused on providing distinctive looks to their vehicles in addition to lower rolling resistance and better-wet traction. Moreover, the manufacturers operating the economy segment automobile manufacturers have also been inclined toward larger rim-diameter tires.
Algerian tire industry follows the traditional dealers and distributor network over online sales. However, the online selling of tires is gaining traction in urban areas. Leading players such as Qingdao, Triangle Tires, Linglong, Yokohama, Continental, etc., follow the traditional sales channel i.e. through dealers and distributors in the country. However, with the rising prospects of domestic manufacturing of automobiles, OEMs are expected to operate through direct sale/purchase model.
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The Final Report will cover the impact analysis of COVID-19 on this industry: Algeria Tire Market Analysis, Insights by Emerging Trends, Future Growth, Revenue Analysis, Demand Forecast 2020
According to the MarkNtel Advisors, the leading players are Continental, Bridgestone, Pirelli, Yokohama, Double Coin, Triangle Tire, Toyo, Hangzhou Zhongce, Shandong Linglong, Qingdao Doublestar Rubber among others. Algeria's first domestic tire company i.e. IRIS Tyre was exhibited at CITEExpo in August 2019. Peugeot signed a joint-venture with three Algerian partners to build passenger cars. The company aimed to invest around USD 117 million and the plant will be operational in 2020.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Revenue, Forecast Numbers, Market Segmentation, Market Shares) of Algeria Tire Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Algeria Tire Market?
4. Who are the key competitors or market players and how they perform in Algeria Tire market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Algeria Tire Market study?
TABLE OF CONTENT
1. Introduction
1.1. Product Definition
1.2. Research Process
1.3. Assumptions
1.4. Market Segmentation
2. Executive Summary
3. Experts Verbatim-What our experts say?
4. Algeria Tire Market Voice of Customer
4.1. Brand Awareness
4.2. End User Expectations
4.3. Key Factors Impacting Vendor Selection
4.4. Key Issues Encountered
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