Cameroon Two-Wheeler Tire Market Set for Rapid Growth at 9.08% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Cameroon Two-Wheeler Tire Market, The Cameroon Two-Wheeler Tire Market size is estimated to grow at a CAGR of around 9.08% during the forecast period, i.e., 2024–30. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Cameroon Two-Wheeler Tire Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

Forecast Period: 2024-2030
CAGR (2024-2030): 9.08%

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Cameroon Two-Wheeler Tire Market Segmentation Breakdown:

The Cameroon Two-Wheeler Tire Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Vehicle Type

Scooter & Moped- Market Size & Forecast 2019-2030, Thousand Units
Motorcycle- Market Size & Forecast 2019-2030, Thousand Units

The scooter & moped segment holds a significant share of the Cameroon Two-Wheeler Tire Market and is anticipated to be in the same trend during the forecast period.

By Demand Type

OEMs- Market Size & Forecast 2019-2030, Thousand Units
Replacement- Market Size & Forecast 2019-2030, Thousand Units

By Tire Type

Radial- Market Size & Forecast 2019-2030, Thousand Units
Bias- Market Size & Forecast 2019-2030, Thousand Units

By Price Category

Budget (Up to USD11)- Market Size & Forecast 2019-2030, Thousand Units
Economy (USD12 to 30)- Market Size & Forecast 2019-2030, Thousand Units
Premium (Above USD30)-Market Size & Forecast 2019-2030, Thousand Units

The demand for budget two-wheeler tires in Cameroon is notable, driven by several factors such as affordability, increased use for commercial purposes, the presence of an informal economy, etc.

By Sales Channel

Online- Market Size & Forecast 2019-2030, Thousand Units
Multi Brand Stores – Market Size & Forecast 2019-2030, Thousand Units
Exclusive Stores – Market Size & Forecast 2019-2030, Thousand Units

By Tire Size

00 X 17 – Market Size & Forecast 2019-2030, Thousand Units
75 X 17 – Market Size & Forecast 2019-2030, Thousand Units
75-18 – Market Size & Forecast 2019-2030, Thousand Units
100/90 X 17 – Market Size & Forecast 2019-2030, Thousand Units
Others (100/90-16,120/80-17, etc.) – Market Size & Forecast 2019-2030, Thousand Units

MarkNtel Advisors Highlights Key Market Drivers for Cameroon Two-Wheeler Tire Market:

High Unemployment Rate Increasing the Sales of Two-Wheelers – Growing levels of unemployment in Cameroon push individuals towards entrepreneurial endeavors and participation in the informal economy. According to the World Bank, the unemployment rate among the youth population has risen to around 7.1% in 2021 from around 6.4% in 2019. Owing to the high unemployment rate, individuals turn to activities such as motorcycle taxis, courier services, and small-scale businesses for income generation. As a result, there is a growing demand for two-wheelers to support these informal economic activities. This increased usage of motorcycles & scooters directly drives the demand for tires in the market.

In addition, unemployment fuels the growth of the informal economy, which heavily relies on efficient transportation for activities such as street vending, delivery services, and artisanal trades. Two-wheelers play a key role in facilitating mobility within the informal economy, enabling individuals to reach customers & job sites efficiently. The expansion of informal economy services leads to increased sales of two-wheelers and, subsequently, tires across the market.

Moreover, the introduction of motorcycle taxis, which are commonly called boda-bodas, has become a prominent mode of transportation, particularly in urban and peri-urban areas. Consequently, unemployed individuals turn to motorcycle taxi services as a means of generating income across the region. Therefore, the proliferation of motorcycle taxis significantly contributes to the overall sales of motorcycles, which positively generates the demand for tires.

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A Comprehensive Analysis of Leading Companies in Cameroon Two-Wheeler Tire Market

Bridgestone Corporation
Goodyear Tire and Rubber Company(Dunlop)
Michelin
Continental AG
Yokohama TWS (Mitas)
Pirelli Tyre S.p.A
Metzeler
Shinko Tyres
Kenda Tires
Others

What are the growth Opportunity driving the Cameroon Two-Wheeler Tire Market?

Growing E-Commerce Sector to Offer Enough Space for Growth & Expansion – E-commerce is emerging in Cameroon due to government initiatives like a national e-commerce strategy and advances in mobile payment technology. Further, under Cameroon’s long-term Vision 2035, the development of ICTs has been set as a strategic priority. The country hopes to become an emerging digital economy by 2035, further boosting e-commerce in the coming years. As e-commerce grows in Cameroon, there would be a proliferation of last-mile delivery services, courier services, etc., to fulfill orders and reach customers. Consequently, the demand for two-wheelers is projected to increase for navigating through urban areas quickly and accessing locations that may be challenging for larger vehicles.

This anticipated growth in the utilization of two-wheelers is expected to drive the demand for two-wheeler tires in the coming years. As two-wheelers are extensively used for transportation and delivery purposes, tires will experience gradual tread degradation and wear and tear, necessitating regular replacement to ensure optimal performance and safety.

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