Rising demand for
passenger cars along with growing vehicle fleet and demand for run-flat tires
to boost tire sales across South East Asia through 2024
According to TechSci Research report, “South East Asia Tire Market By Vehicle Type, By
Demand Category, By Radial vs. Bias, By Rim Size, By Tire Type, By Country,
Competition, Forecast & Opportunities, 2014-2024”,
tire market across South East Asia is projected to surpass $ 17 billion, by 2024
on account of increasing sales of two wheelers and passenger cars due to rising
per capita and improving living standards of people in South East Asian countries.
Moreover, booming infrastructure developments and expanding vehicle fleet are
the other major factors that are fueling demand for tires across the region. Few
of the major tire players operating in the region include PT Gajah Tunggal TBK, PT Suryaraya Rubberindo Industries, Bridgestone
Corporation, Compagnie Generale des Establissements Michelin, Sumitomo Rubber
Industries, Continental AG, The Goodyear Tire & Rubber Company, Deestone
Corporation Limited, Toyo Tire & Rubber Co. Ltd, and The Yokohama Rubber
Co., Ltd., among others. With rising focus of these leading players on
sales and marketing activities, the tire industry in South East Asia is
anticipated to witness intensifying competition over the next five years.
Browse 5 market data
Tables and 88 Figures spread through 114 Pages and an in-depth TOC on "South East
Asia Tire Market"
Among countries, Indonesia dominated South
East Asia tire market with over 40% volume share in 2018. The country is anticipated to maintain its
dominance during forecast period as well on the back of expanding vehicle fleet
in the country. On the basis of vehicle type, South East Asia tire market is
segmented into passenger car, light commercial vehicle, medium & heavy
commercial vehicle, two-wheeler, three-wheeler and OTR, of which, the two
wheeler and passenger car segments account for over 85% share in the market due
to expanding two wheeler and passenger car fleet backed by rising per capita
income and growing number of nuclear families across the region.
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“Increasing two wheeler and passenger
car sales and production is pushing demand for tires across the South East
Asian region. Moreover, a rising number of automakers are showing inclination
towards run-flat tires in OEM segment, which is further expected to positively
influence the region’s tire market in the coming years. Additionally, growing
demand for trucks and buses would steer growth in the market during the
forecast period.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“South East Asia Tire
Market By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium &
Heavy Commercial Vehicle, Two-Wheeler, Three-Wheeler and OTR), By Demand
Category (OEM Vs Replacement), By Radial vs. Bias, By Rim Size, By Tire Type,
By Country, Competition Forecast & Opportunities, 2014-2024” has analyzed the potential of tire market
across South East Asia, and provides statistics and information on market
sizes, shares and trends. The report will suffice in providing the intending
clients with cutting-edge market intelligence and help them in taking sound
investment decisions. Besides, the report also identifies and analyzes emerging
trends along with essential drivers and key challenges faced by South East Asia
tire market.
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