Asia Pacific Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Asia Pacific Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The Asia Pacific tire market size reached 1,200 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 1,550 Million Units by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
Increasing demand for vehicles, growing replacement demand, declining prices of rubber and increasing production in the region represent some of the key factors contributing to the growth of the Asia Pacific tire industry. Furthermore, rising demand for secondhand vehicles in countries such as India, China, Indonesia, Malaysia, etc., is expected to drive the market for the replacement tire industry. Additionally, increasing investment towards infrastructure projects such as roads, bridges, and tunnels, have been able to increase the connectivity across the Asia Pacific region, this is also catalyzing the demand for tires across the region.
The increasing demand for tires in the Asia Pacific region is also being driven by the increasing automobile production along with the expanding fleet size. In addition to this, the rising consumer living standards supported by their growing disposable income levels have also boosted automobile sales, thereby propelling the demand for tires in the region. Furthermore, the increasing usage of both light and heavy commercial vehicles in logistics and construction activities has also augmented the market growth. Additionally, the growing popularity of next-generation and high-performance tires for luxury and premium cars is also driving the market growth. Apart from this, the increasing demand for replacement tires owing to the large consumer base of passenger cars and the high replacement rate of tires after certain usage limit, is further bolstering the demand of tires in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific tire market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on radial/bias tires, end-use, vehicle type, size and distribution channel.
Breakup by Radial/Bias Tires:
Radial
Bias
Breakup by End-Use:
OEM
Replacement
Breakup by Vehicle Type:
Passenger Cars
Light Commercial Vehicles
Medium and Heavy Commercial Vehicles
Two-Wheelers
Off-The-Road (OTR)
Three- Wheelers
Breakup by Size:
Passenger Cars
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Light Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Medium and Heavy Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Two-Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Three- Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Off-The-Road (OTR)
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Breakup by Distribution Channel:
Offline
Online
Breakup by Country:
China
India
Japan
Australia
South Korea
Thailand
Indonesia
Malaysia
Pakistan
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Michelin, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Corporation, Pirelli C. S.p.A., Yokohama Tire Corporation, Hankook Tire & Technology Co., Ltd., Toyo Tire Corporation, Kumho Tire Co., Ltd., etc.
Key Questions Answered in This Report:
How has the Asia Pacific tire market performed so far and how will it perform in the coming years?
What are the key end-use segments in the Asia Pacific tire industry?
What has been the impact of COVID-19 on the Asia Pacific tire industry?
What are the key vehicle types in the Asia Pacific tire industry?
What are the key distribution channels in the Asia Pacific tire industry?
What is the regional breakup of the Asia Pacific tire industry?
What are the various stages in the value chain of the Asia Pacific tire industry?
What are the key driving factors and challenges in the Asia Pacific tire industry?
What is the structure of the Asia Pacific tire industry and who are the key players?
What is the degree of competition in the Asia Pacific tire industry?
What are the profit margins in the Asia Pacific tire industry?
The Asia Pacific tire market size reached 1,200 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 1,550 Million Units by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.
Increasing demand for vehicles, growing replacement demand, declining prices of rubber and increasing production in the region represent some of the key factors contributing to the growth of the Asia Pacific tire industry. Furthermore, rising demand for secondhand vehicles in countries such as India, China, Indonesia, Malaysia, etc., is expected to drive the market for the replacement tire industry. Additionally, increasing investment towards infrastructure projects such as roads, bridges, and tunnels, have been able to increase the connectivity across the Asia Pacific region, this is also catalyzing the demand for tires across the region.
The increasing demand for tires in the Asia Pacific region is also being driven by the increasing automobile production along with the expanding fleet size. In addition to this, the rising consumer living standards supported by their growing disposable income levels have also boosted automobile sales, thereby propelling the demand for tires in the region. Furthermore, the increasing usage of both light and heavy commercial vehicles in logistics and construction activities has also augmented the market growth. Additionally, the growing popularity of next-generation and high-performance tires for luxury and premium cars is also driving the market growth. Apart from this, the increasing demand for replacement tires owing to the large consumer base of passenger cars and the high replacement rate of tires after certain usage limit, is further bolstering the demand of tires in the region.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific tire market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on radial/bias tires, end-use, vehicle type, size and distribution channel.
Breakup by Radial/Bias Tires:
Radial
Bias
Breakup by End-Use:
OEM
Replacement
Breakup by Vehicle Type:
Passenger Cars
Light Commercial Vehicles
Medium and Heavy Commercial Vehicles
Two-Wheelers
Off-The-Road (OTR)
Three- Wheelers
Breakup by Size:
Passenger Cars
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Light Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Medium and Heavy Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Two-Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Three- Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Off-The-Road (OTR)
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Breakup by Distribution Channel:
Offline
Online
Breakup by Country:
China
India
Japan
Australia
South Korea
Thailand
Indonesia
Malaysia
Pakistan
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Michelin, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Corporation, Pirelli C. S.p.A., Yokohama Tire Corporation, Hankook Tire & Technology Co., Ltd., Toyo Tire Corporation, Kumho Tire Co., Ltd., etc.
Key Questions Answered in This Report:
How has the Asia Pacific tire market performed so far and how will it perform in the coming years?
What are the key end-use segments in the Asia Pacific tire industry?
What has been the impact of COVID-19 on the Asia Pacific tire industry?
What are the key vehicle types in the Asia Pacific tire industry?
What are the key distribution channels in the Asia Pacific tire industry?
What is the regional breakup of the Asia Pacific tire industry?
What are the various stages in the value chain of the Asia Pacific tire industry?
What are the key driving factors and challenges in the Asia Pacific tire industry?
What is the structure of the Asia Pacific tire industry and who are the key players?
What is the degree of competition in the Asia Pacific tire industry?
What are the profit margins in the Asia Pacific tire industry?
Table of Contents
145 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Asia-Pacific Tire Industry
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Radial/Bias Tires
- 6.1 Radial
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Bias
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 7 Market Breakup by End-Use
- 7.1 OEM
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Replacement
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 8 Market Breakup by Vehicle Type
- 8.1 Passenger Cars
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Light Commercial Vehicles
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Medium and Heavy Commercial Vehicles
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Two-Wheelers
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Off-The-Road (OTR)
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Three-Wheelers
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 9 Market Breakup by Size
- 9.1 Passenger Cars
- 9.1.1 Market Breakup by Rim Size
- 9.1.2 Market Breakup by Tire Size
- 9.1.3 Market Breakup by Price Range
- 9.2 Light Commercial Vehicles
- 9.2.1 Market Breakup by Rim Size
- 9.2.2 Market Breakup by Tire Size
- 9.2.3 Market Breakup by Price Range
- 9.3 Medium and Heavy Commercial Vehicles
- 9.3.1 Market Breakup by Rim Size
- 9.3.2 Market Breakup by Tire Size
- 9.3.3 Market Breakup by Price Range
- 9.4 Two-Wheelers
- 9.4.1 Market Breakup by Rim Size
- 9.4.2 Market Breakup by Tire Size
- 9.4.3 Market Breakup by Price Range
- 9.5 Off-The-Road (OTR)
- 9.5.1 Market Breakup by Rim Size
- 9.5.2 Market Breakup by Tire Size
- 9.5.3 Market Breakup by Price Range
- 9.6 Three-Wheelers
- 9.6.1 Market Breakup by Rim Size
- 9.6.2 Market Breakup by Tire Size
- 9.6.3 Market Breakup by Price Range
- 10 Market Breakup by Distribution Channel
- 10.1 Offline
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 Online
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 11 Market Breakup by Country
- 11.1 China
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 India
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Japan
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Australia
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
- 11.5 Indonesia
- 11.5.1 Market Trends
- 11.5.2 Market Forecast
- 11.6 South Korea
- 11.6.1 Market Trends
- 11.6.2 Market Forecast
- 11.7 Thailand
- 11.7.1 Market Trends
- 11.7.2 Market Forecast
- 11.8 Malaysia
- 11.8.1 Market Trends
- 11.8.2 Market Forecast
- 11.9 Pakistan
- 11.9.1 Market Trends
- 11.9.2 Market Forecast
- 11.10 Other Regions
- 11.10.1 Market Trends
- 11.10.2 Market Forecast
- 12 Tire Pricing Analysis
- 12.1 Price Indicators
- 12.2 Cost Structure and Margins
- 12.3 Manufacturer and Distributor Prices
- 12.4 Price Trends and Forecast
- 13 SWOT Analysis
- 13.1 Overview
- 13.2 Strengths
- 13.3 Weaknesses
- 13.4 Opportunities
- 13.5 Threats
- 14 Value Chain Analysis
- 15 Porters Five Forces Analysis
- 15.1 Overview
- 15.2 Bargaining Power of Buyers
- 15.3 Bargaining Power of Suppliers
- 15.4 Degree of Competition
- 15.5 Threat of New Entrants
- 15.6 Threat of Substitutes
- 16 Competitive Landscape
- 16.1 Market Share and Structure
- 16.2 Key Players
- 16.3 Profiles of Key Players
- 16.3.1 Michelin
- 16.3.1.1 Company Overview
- 16.3.1.2 Product Portfolio
- 16.3.1.3 Financials
- 16.3.1.4 SWOT Analysis
- 16.3.2 Bridgestone Corporation
- 16.3.2.1 Company Overview
- 16.3.2.2 Product Portfolio
- 16.3.2.3 Financials
- 16.3.2.4 SWOT Analysis
- 16.3.3 Continental AG
- 16.3.3.1 Company Overview
- 16.3.3.2 Product Portfolio
- 16.3.3.3 Financials
- 16.3.3.4 SWOT Analysis
- 16.3.4 Goodyear Tire & Rubber Company
- 16.3.4.1 Company Overview
- 16.3.4.2 Product Portfolio
- 16.3.4.3 Financials
- 16.3.4.4 SWOT Analysis
- 16.3.5 Sumitomo Corporation
- 16.3.5.1 Company Overview
- 16.3.5.2 Product Portfolio
- 16.3.5.3 Financials
- 16.3.5.4 SWOT Analysis
- 16.3.6 Pirelli C. S.p.A.
- 16.3.6.1 Company Overview
- 16.3.6.2 Product Portfolio
- 16.3.6.3 Financials
- 16.3.6.4 SWOT Analysis
- 16.3.7 Yokohama Tire Corporation
- 16.3.7.1 Company Overview
- 16.3.7.2 Product Portfolio
- 16.3.7.3 Financials
- 16.3.7.4 SWOT Analysis
- 16.3.8 Hankook Tire & Technology Co., Ltd
- 16.3.8.1 Company Overview
- 16.3.8.2 Product Portfolio
- 16.3.8.3 Financials
- 16.3.8.4 SWOT Analysis
- 16.3.9 Toyo Tire Corporation
- 16.3.9.1 Company Overview
- 16.3.9.2 Product Portfolio
- 16.3.9.3 Financials
- 16.3.9.4 SWOT Analysis
- 16.3.10 Kumho Tire Co., Ltd.
- 16.3.10.1 Company Overview
- 16.3.10.2 Product Portfolio
- 16.3.10.3 Financials
- 16.3.10.4 SWOT Analysis
Pricing
Currency Rates
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