Table of Contents
Vietnam, with a population of around 91 million in 2014, is one of the developing economies in Asia-Pacific, and has emerged as a major market for automotive tyres over the last five years. On account of increasing GDP per capita, motorization rate in Vietnam has been growing at a brisk pace. As a result, the country’s vehicle fleet size has been expanding tremendously over the last few years. Considering the growing demand for vehicles, many domestic and global players are strengthening their footprint in the country by establishing manufacturing plants in Vietnam. Government of Vietnam, on its part, inked WTO and AFTA agreements with neighboring countries to encourage foreign investments. All these factors have been fueling OEM and replacement demand for automotive tyres in Vietnam. In addition, Vietnam has vast rubber resources, which further makes the country an ideal destination for establishing tyre manufacturing facilities.
According to “Vietnam Tyre Market Forecast & Opportunities, 2020", growing automobile sales, rising vehicle fleet and increasing foreign investments in the automotive sector are the major factors driving Vietnam tyre market. Two-wheeler tyre segment dominates the market, followed by passenger car and commercial vehicle & OTR tyre segments. However, passenger car tyre segment is expected to exhibit fastest growth rate over the next five years, followed by commercial vehicle & OTR tyre segment. DRC, SRC, Yokohama, Bridgestone, Kumho, Maxxis, Pirelli and Michelin are few of the key tyre companies operating in Vietnam. Amongst domestic tyre companies, Danang Rubber Company (DRC) dominated the Vietnam tyre market in 2014. “Vietnam Tyre Market Forecast & Opportunities, 2020” report elaborates following aspects of tyre market in Vietnam:
- Vietnam Tyre Market Size, Share & Forecast
- Segmental Analysis – Two Wheeler Tyres, Passenger Car Tyres and Commercial Vehicle & OTR Tyres
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tyre market in Vietnam
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tyre companies and other stakeholders to align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% free customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre companies, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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