Burnaby, British Columbia, Canada, December 03, 2015 --(PR.com
)-- According to TechSci Research report, “Angola Tyre Market Forecast & Opportunities, 2020,” the tyre market in Angola is forecast to grow at more than 10% during 2015- 2020. In order to reduce dependence on the oil sector, the country’s government is focusing on increasing investments into logistics, exports and infrastructure sectors. This, in addition to easing access to credit, is expected to propel automobile sales in the country in the coming years, there by positively influencing tyre market in Angola over the next five years.
Automobile sector in Angola lacks presence of any automobile OEMs. Additionally, the country does not have any tyre manufacturing facilities. Due to this reason, the tyre market of the country is entirely replacement and import driven. Increasing automobile sales and expanding fleet size are expected to drive the tyre market in Angola through 2020. Automobile fleet in Angola is dominated by passenger cars.Moreover,with continuing increase in passenger car sales, the demand for passenger car tyres is projected to grow over the forecast period.
“Diversification into non-oil sectors coupled with rising passenger car sales are the prominent factors expected to drive tyre market in Angola over the next five years. Moreover, anticipated increase in infrastructure activities is expected to boost commercial vehicle sales in the coming years, thereby propelling commercial vehicle tyre sales through 2020,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.