Vietnam Truck & Bus Tire Market Insights, Share & Growth Trends 2024-30

Overview of the Vietnam Truck & Bus Tire Market: Key Statistics and Trends:

According to the latest report by MarkNtel Advisors, titled “Vietnam Truck & Bus Tire Market By Vehicle Type (Truck, Bus), By Demand Type (OEM, Aftermarket), By Tire Type (Radial, Bias), By Tire Size (Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5, By Price Category (Budget (Upto USD 180), Economy (USD181 to 300), Premium (Above 300)), By Sales Channel (Direct Sales, Exclusive Outlets, Multi Brand Stores, Online), and Others, 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. The report provides a thorough analysis of the market, covering competitor dynamics, regional insights, and a detailed breakdown of industry segments.

Vietnam Truck & Bus Tire Market Growth and Scope:

Base Year: 2023

Forecast Period: 2024-30

Historical Data: 2019-22

CAGR (2024-30): 5.86%

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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.

A Comprehensive Analysis of Leading Companies of Vietnam Truck & Bus Tire Market by MarkNtel Advisors:

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

Key Vietnam Truck & Bus Tire Market Segmentation:

Explore Our Comprehensive Study: https://www.marknteladvisors.com/research-library/vietnam-truck-bus-tire-market.html

-By Vehicle Type

Truck
Bus

The Vietnamese truck and bus tire industry was dominated by the truck segment in 2023. As of 2023, trucks grabbed around 95% market share in the registered vehicle fleet of commercial vehicles (trucks and buses only).

-By Demand Type

OEM
Aftermarket

The aftermarket segment dominated the Vietnam Truck and Bus Tire Market in 2023. Although manufacturers such as Hino, Isuzu, Ford, VinFast, Thaco, etc., have production plants in the country, their annual requirement is much lower than the aftermarket demand.

-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)

Geographical Analysis

-By Region

Central
East
West
South

Key Reports Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

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Key Advantages of the Report by MarkNtel Advisors:

Accurate Revenue Projections: The report provides precise revenue estimates for the market and its key sub segments, benefiting both market leaders and new entrants.
Strategic Insights for Stakeholders: By understanding the competitive landscape, stakeholders can strategically position their businesses and develop effective go-to-market strategies.
Comprehensive Market Dynamics Analysis: The report offers valuable insights into the key drivers, restraints, challenges, and opportunities within the market, helping stakeholders make well-informed decisions.

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