Growth in Commercial Vehicle Segment to Boost Tyre Demand in South Africa, Says TechSci Research
Summary
Burnaby, Canada, April 06, 2014 --( According to the recently published report by TechSci Research, “South Africa Tyre Market Forecast & Opportunities 2019,” the tyre market in South Africa is projected to grow at a CAGR of around 9%, in revenue terms, during 2014-19, due to continuous expansion in production capacity and increasing investments in the automotive sector.On the contrary, Michelin, Pirelli, Kumho and Yokohama, etc., are also setting up their businesses and broadening their respective product portfolios to capitalize on the growing tyre demand in the country through imports from their overseas manufacturing units.Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities for the tyre industry in South Africa.On the contrary, Michelin, Pirelli, Kumho and Yokohama, etc., are also setting up their businesses and broadening their respective product portfolios to capitalize on the growing tyre demand in the country through imports from their overseas manufacturing units.Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities for the tyre industry in South Africa.