Vietnam Truck Bus Tire Market Overview:

MarkNtel Advisors recently released a detailed business study on 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. This comprehensive report covers historical data, current market trends, market size, marketing strategies, technological innovations, upcoming technologies, emerging trends and opportunities, as well as advancements in the related industry.

Vietnam Truck Bus Tire Market Opportunity:

Expanding Tourism Sector to Offer Lucrative Growth Opportunities – The developing focus of the nation on promoting tourism is also boosting the demand for buses and minivans. In the first half of 2024, almost 7.5 million tourists visited Vietnam. Whereas, around 12.6 million international tourists visited the country in 2023, and 8.3 million in 2022. So, this large increase in the nation’s tourism industry is catalyzing the enlargement of the commercial automobile market. Ultimately, the replacement demand for truck and bus tires is anticipated to surge in the coming years. Vietnam anticipates hosting around, 25 million overseas tourists by 2025 and 35 million through 2030, other than around 18 million home travelers. To accommodate this number of traveler population and their logistics requirements, the sale of commercial vehicles (trucks, buses) is expected to register exponential revenue growth. Therefore, the demand for tires from this vehicle segment is likewise expected to surge during the forecast period.  

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Insights into Dominant Segments in the Vietnam Truck Bus Tire Market

The thorough analysis of the Vietnam Truck Bus Tire Market identifies lucrative opportunities across diverse segments. This meticulous segmentation enables potential investors to make informed decisions aimed at maximizing returns and strategic growth.

-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)

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Vietnam Truck Bus Tire Market Geographical Reach:

The Vietnam Truck Bus Tire Market Geographical Reach assesses the distribution and prominence of consumption, highlighting regions that dominate in terms of market size, volume, and promising future growth prospects.

-By Region

• Central
• East
• West
• South

Prominent Vietnam Truck Bus Tire Market Competitive Landscape and Their Strategic Outlook

The Prominent Vietnam Truck Bus Tire Market Competitive Landscape examines key players and their strategic initiatives within the industry. This analysis provides insights into competitive dynamics, business strategies, innovations, and infrastructure investments, forecasting their market presence and trajectory over the coming years.

• Bridgestone Corporation
• Michelin
• Casumina (Southern Rubber Industry Joint Stock Company)
• Sailun
• Kenda
• Kumho Tire
• Zhongce Rubber Group Co., Ltd.
• Hankook
• Goodyear
• Yokohama Rubber Company
• DRC Tire
• China’s Guizhou Tyre
• Jinhu Tire
• Others

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Key Questions Addressed in the Report

Current Market Size and Share: What is the current size and market share of the Vietnam Truck Bus Tire Market, and what are the growth trends anticipated in the near future?

Demand Drivers: What factors are driving the demand for Vietnam Truck Bus Tire, and how are consumer preferences evolving?

Market Forecast: What is the projected growth trajectory of the Vietnam Truck Bus Tire Market in terms of size, CAGR, and emerging trends over the next several years?

Competitive Landscape: Who are the key players in the Vietnam Truck Bus Tire market, what are their strategies, and how are they positioned to compete effectively?

Technological Advancements: What technological innovations are shaping the Vietnam Truck Bus Tire industry, and how are they influencing market dynamics and consumer behavior?

Why choose MarkNtel?

MarkNtel Advisors is a leading market research company, consulting, data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial varied client base, including multinational corporations, financial institutions, governments, individuals, among others.

Our specialization in niche industries emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing forecasting, trend analysis, among others, for 14.8 diverse industrial verticals.

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