VIETNAM TRUCK & BUS TIRE Market Size & Insights

As per recent study by MarkNtel Advisors 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.  

What are the Key DROs in the VIETNAM TRUCK & BUS TIRE Market?

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.

What are the Key Segments in the VIETNAM TRUCK & BUS TIRE Market?

The VIETNAM TRUCK & BUS TIRE is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:

• 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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How does geographical analysis highlight in the VIETNAM TRUCK & BUS TIRE market?

By Region

·       Central

·       East

·       West

·       South

Who are the Key Players in VIETNAM TRUCK & BUS TIRE Market?

• Bridgestone Corporation
• Michelin
• Casumina (Southern Rubber Industry Joint Stock Company)
• Sailun
• Kenda
• Others.
• 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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VIETNAM TRUCK & BUS TIRE Industry Recent Development:

·       2024: China’s Guizhou Tyre to invest USD 230 million in southern Vietnam to build a new factory, the factory will bolster the production capacity of the entire project area in Vietnam, helping to cut overall production costs, expand the market space, and improve the profitability of Guizhou Tyre’s product.

·       2021: Jinhu Tire starts truck tire production at the Vietnam plant, Jinyu (Vietnam) Tire is the first overseas production base of the Jinyu Tire Group. It was planned and constructed with digitization at its heart, connecting demand from customers with its R&D and production.

Key pillars of the research methodology include:

·       Scope & Research Design – Clearly defined objectives with tailored qualitative and quantitative methods, backed by precise timelines and budgets.

·       Sample Selection & Data Collection – Representative samples achieved through proven techniques like random and stratified sampling, supported by reliable tools such as surveys, interviews, and observations.

·       Data Analysis & Validation – Rigorous cleaning, advanced statistical modeling, and thematic analysis ensure accuracy, reliability, and minimal bias.

·       Forecasting & Finalization – Predictive modeling and time-series analysis anticipate future market behaviors, presented through insightful reports with charts, graphs, and strategic recommendations.

"Our methodology reflects the trust businesses place in us. By combining innovation with precision, we deliver not just numbers, but clarity and direction for decision-makers worldwide," said a spokesperson for MarkNtel Advisors.

Why This MarkNtel Advisors Research Report:

• In-depth Market Analysis: Understand trends and dynamics shaping growth.
• Segmented Insights: Target specific segments for focused strategies.
• Geographical Performance: Assess market opportunities by geographic area.
• Emerging Technologies: Discover advancements like AI integration.
• Risk Identification: Pinpoint challenges to inform strategic planning.
• Future Forecasts: Prepare for market changes with actionable projections.

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