Statistics Botswana reported that COVID-19 pandemic and the lockdowns have affected import and export trade however it is said to have a positively impact on the Botswana Tire Market (BTM).
Reports by BTM, 2020 research depicts a deep dive market analysis of statistics of Botswana Tire market which consists of regional and country-wise market size, forecast, market segmentation, market shares of diverse regions and countries. The market is foreseeing a dual influence amid COVID-19 positively resulting from the lockdown imposition which restricted peoples and goods movement. Owing to this, the requirement of delivery services witnessed a sharp surge in its demand from the customer, which has further infused new demand and opportunity for the delivery companies in the country.
The tire industry anticipates growth for the year 2021 to 2026 across all seasons however the summer tires are reported to be leading. The passenger car vehicle segment holds the lion’s share in the Botswana tire market, followed by the light commercial vehicles. Replacement tire sales hold more than three-fourth of the regional tire market due to the absence of high dependence of regional automobile market on imports. Increase in tire demand in the region has led to stiff competition among manufacturers to capitalize on the growth potential in the market. However, Chinese and other Asian manufacturers have started to penetrate the market and are gaining traction on the back of price competitiveness as revealed by the MarkNtel Advisors’ research report “Botswana Tire Market Analysis, 2020”.