According to MarkNtel Advisors who is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently released a report on Vietnam Truck & Bus Tire Market – Industry Trends and Forecast to 2030 and provides a comprehensive analysis of the current and future market conditions. The market research insights offered in this report enhance understanding of the market landscape, potential challenges, and strategies to establish a strong brand presence. With detailed market segmentation, in-depth analysis of key players, examination of consumer and supply chain trends, and exploration of new geographic markets, the insights presented in this report simplify the effective marketing of products and services.
Vietnam Truck & Bus Tire Market Analysis and Size
The Vietnam Truck & Bus Tire Market size is valued at around USD 384 million in 2024 & is estimated to grow at a CAGR of around 5.86% during the forecast period, i.e., 2024-30.
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Some of the major players operating in the Vietnam Truck & Bus Tire Market are Bridgestone Corporation, Michelin, Casumina (Southern Rubber Industry Joint Stock Company), Sailun, Goodyear, Yokohama Rubber Co. Ltd., Zhongce Rubber Group Co., Ltd., Kumho Tire, Kenda, Hankook, DRC Tire, China’s Guizhou Tyre, Jinhu Tire and others.
Vietnam Truck & Bus Tire Market Growth Driver:
Surge in Infrastructure Development Activities Driving Market Growth – Vietnam is planning to spend around USD 65 billion on infrastructure development during 2021-30. The nation plans to build expressways, railway lines, ports, airports, etc., under its Master Plan 2030. Vietnam is making plans to develop around 10,000 km of expressways for high-paced transportation. Additionally, the country is running closer to putting in place dams, thermal power plants, and warehouses for the well-timed shipping of products. The enlargement of cities to deal with the developing wishes of the urban population is contributing to the growth & development of trucks and buses in the country. Therefore, the aftermarket sale of tires for these automobiles is predicted to grow in the years to come.
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Market Segment and Geographical Analysis
By Vehicle Type
- Truck- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Bus- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
By Demand Type
- OEM – Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Aftermarket – Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
By Tire Type
- Radial – Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Bias – Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
By Tire Size
- Tire Size 1- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Tire Size 2- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Tire Size 3-Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Tire Size 4-Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Tire Size 5-Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
By Price Category
- Budget (Upto USD 180)- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Economy (USD181 to 300)- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Premium (Above 300)- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
By Sales Channel
- Direct Sales- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Exclusive Outlets- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Multi Brand Stores- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
- Online- Market Size & Forecast 2019-2030, Units Sold (Thousand Units)
By Region
- Central
- East
- West
- South
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