New York, June 04, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “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” – https://www.reportlinker.com/p05810991/?utm_source=GNW
Bias, By Rim Size (Up To 14”, 15”, 16”, 17”, 18”, and 19” & above), By Tire Type, Competition, Forecast & Opportunities, 2016-2026
South East Asia 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.
South East Asia tire 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, South East Asia 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 South East Asia 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 Asia 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.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
• To analyze the historical growth in the market size of the South East Asia tire market from 2016 to 2020.
• To estimate and forecast the market size of the South East Asia tire market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the South East Asia tire market based on vehicle type, demand category, radial vs bias, rim size, tire type, country, and company.
• To identify dominant country or segment in the South East Asia tire market.
• To identify drivers and challenges for the South East Asia tire market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the South East Asia tire market.
• To conduct pricing analysis for the South East Asia tire market.
• To identify and analyze the profiles of leading brands operating in the South East Asia tire market.
• To identify key sustainable strategies adopted by market players in the South East Asia tire market.
The analyst performed primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of passenger car dealers and distributors in the South East Asian region.
Subsequently, the analyst conducted primary research surveys with identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include vendors and service providers that could not be identified due to the limitations of secondary research. The analyst examined product offerings, application, distribution channel and regional presence of all the automotive tire manufacturers, distributors and dealers across the country.
The analyst calculated the market size of the South East Asia tire market using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Global tire manufacturers operating in the region
• Dealers and distributors of automotive tires
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to automotive tires
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
• In this report, the South East Asia tire market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• South East Asia Tire Market, By Vehicle Type:
o Passenger Car
o Light Commercial Vehicle
o Medium & Heavy Commercial Vehicle
• South East Asia Tire Market, By Demand Category:
• South East Asia Tire Market, By Radial Vs Bias:
• South East Asia Tire Market, By Rim Size:
o Up To 14 inches
o 15 inches
o 16 inches
o 17 inches
o 18 inches
o 19 inches & above
• South East Asia Tire Market, By Tire Type:
o Non-Run Flat Tires
o Run Flat Tires
• South East Asia Tire Market, By Country:
• Company Profiles: Detailed analysis of the major companies present in the South East Asia tire market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p05810991/?utm_source=GNW
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