Dublin, July 15, 2021 (GLOBE NEWSWIRE) -- The "South East Asia Tire Market, By Vehicle Type, By Demand Category, By Radial vs. Bias, By Rim Size, By Tire Type, Competition, Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The South East Asian Tire Market was valued USD9.54 Billion in 2020 and is forecast to grow at CAGR of 6.32% in the next five years
Based on consumer spending behaviour across the South East Asian countries, consumers mostly prefer two-wheelers for their daily commuting purpose. Due to this, the sales of two-wheelers are increasing at a brisk pace which is fuelling the automotive fleet which in turn is boosting the demand for automotive replacement tires.
In addition to that, major automotive manufacturers are increasing the production of vehicles, especially two-wheelers across the region which is directly generating the demand for OEM tires across the region. Moreover, construction and mining activities in this region are continuously increasing and hence demand for commercial vehicles and OTR vehicles is generously increasing which is susceptible to drive the market of automotive tires in the forecast period.
The Indian Sports Apparel Market is classified based on vehicle type, demand category, radial vs bias, tire type, rim size, country, and company. On the basis of vehicle type, the South East Asian Tire Market is segmented into passenger car, light commercial vehicle, medium & heavy commercial vehicle, two-wheeler, three-wheeler and OTR.
In terms of demand category, most of the tire sales are constituted by replacement tires. Due to greater replacement needs for fleet vehicles in the region, majority of tire sales are contributed by replacement tires. Based on technology, market is segmented into radial tires and bias tires.
On the basis of tire type, the market is bifurcated into run flat tires and non-run flat tires. Non-run flat tires being traditional tires, are easily available in the market, hence they are currently dominating the tire market in this region. Market in terms of rim size is segmented into 14 inches, 15 inches, 16 inches, 17 inches, 18 inches, and 19 inches & above. By country, the market is segmented into Indonesia, Vietnam, Thailand, Malaysia, Philippines, Singapore, Cambodia, etc.
Gajah Tunggal, Suryaraya Rubberindo, Bridgestone, Michelin, Sumirubber, etc., are among some of the leading brands operating in the South East Asian Tire Market.
Apart from these brands, other tire brands are also increasing their brand awareness, price schemes and elevating product portfolio in the region to increase their customer base. Major companies in the South East Asian Tire Market are also focusing on increasing their dealer and distributor network and launching technologically advanced products to grab a larger share in the region's tire market.
Report Scope:
Years considered for this report:
- Historical Period: 2016-2019
- Base Year: 2020
- Estimated Year: 2021
- Forecast Period: 2022-2026
South East Asia Tire Market, By Vehicle Type:
- Passenger Car
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- Two-Wheeler
- Three-Wheeler
- Off-the-road
South East Asia Tire Market, By Demand Category:
- OEM
- Replacement
South East Asia Tire Market, By Radial Vs Bias:
- Radial
- Bias
South East Asia Tire Market, By Rim Size:
- Up To 14 inches
- 15 inches
- 16 inches
- 17 inches
- 18 inches
- 19 inches & above
South East Asia Tire Market, By Tire Type:
- Non-Run Flat Tires
- Run Flat Tires
South East Asia Tire Market, By Country:
- Indonesia
- Vietnam
- Thailand
- Malaysia
- Philippines
- Singapore
- Cambodia
- Company Profiles: Detailed analysis of the major companies present in the South East Asian Tire Market.
Companies Mentioned
- Gajah Tunggal Tbk PT
- Suryaraya Rubberindo Industries PT
- Bridgestone Corporation
- Michelin
- Sumirubber Malaysia Sdn Bhd
- PT Industri Karet Deli
- Saovang Rubber JSC
- Danang Rubber JSC
- Casumina (The Southern Rubber Industry Joint Stock Company)
- Maxxis International
For more information about this report visit https://www.researchandmarkets.com/r/8r4saw