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Vietnam Tire Market Overview

Base Year: 2024

Historical Years: 2019-2024

Forecast Years: 2025-2033

​Market Size in 2024: USD 860 Million

Market Forecast in 2033: USD 1,300 Million

Market Growth Rate (2025-33): 4.1%

Vietnam tire market size reached USD 860 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 1,300 Million by 2033, exhibiting a growth rate (CAGR) of 4.1% during 2025-2033. The expanding middle class, expanding infrastructure development, increased vehicle production, the rise of electric vehicles (EVs), a shift toward eco-friendly tires, a rise in recreational activities and tourism, and favorable sustainability initiatives in tire manufacturing represent some of the key factors driving the market.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/vietnam-tire-market/requestsample

Vietnam Tire Market Trends and Drivers:

Market Growth Drivers and Demand Trends

• Rapid growth in the automotive sector—particularly passenger cars, motorcycles, and commercial vehicles—is fueling strong tire demand.

• Rising vehicle ownership and expanding logistics and e-commerce sectors are increasing the frequency of tire replacements.

• Government infrastructure investments (modern road networks, national connectivity projects) are contributing to higher mileage and tire wear.

• Consumers are becoming more quality- and performance-conscious, preferring tires with better fuel efficiency, wet grip, and safety.

• Manufacturers are diversifying product offerings to meet varied driving conditions across urban and rural markets.

Shifting Consumer Behavior and Retail Evolution

• Growing preference for premium and mid-range branded tires over low-cost, price-driven options.

• Increased focus on:

  • Durability

  • Ride comfort

  • Long-term value

• Adoption of radial tire technology is accelerating, replacing bias-ply tires due to better longevity and fuel economy.

• The distribution landscape is evolving:

  • Rise of organized retail, multi-brand outlets, and e-commerce

  • Traditional vendors still play a role but face growing competition

• Manufacturers are enhancing after-sales services, warranties, and digital engagement to increase brand loyalty.

Industrial Expansion and Future Opportunities

• Vietnam is becoming a key player in the global rubber and tire production ecosystem.

• Significant investments from international and domestic manufacturers are expanding local production capacity.

• Strong potential for export growth to regional and global markets.

• Rising focus on sustainable manufacturing:

  • Use of renewable materials

  • Development of eco-friendly tires with low rolling resistance

• Future growth avenues:

  • Specialized EV-compatible tires

  • Expansion into the commercial vehicle aftermarket

  • Leveraging digital platforms for customer service, sales, and engagement

• Vietnam’s tire sector is on a path of technological advancement, green innovation, and global competitiveness.

Vietnam Tire Market Industry Segmentation:

Design Insights:

• Radial
• Bias

End Use Insights:

• OEM
• Replacement

Vehicle Type Insights:

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two Wheelers
• Three Wheelers
• Off-The-Road (OTR)

Distribution Channel Insights:

• Offline
• Online

Season Insights:

• All Season Tires
• Winter Tires
• Summer Tires

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Ask Our Expert & Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=21732&flag=C

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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