Tire Market - South East Asia
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 6.30% (2024-2032)
The South East Asia tire market is experiencing significant growth, driven by consumer preferences for convenience and time-saving solutions. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 6.30% from 2024 to 2032.
South East Asia Tire Industry Trends and Drivers:
The South East Asia tire market is experiencing robust growth due to a rise in automotive production and sales across the region. Increasing urbanization, coupled with rising disposable incomes, is leading to a higher demand for vehicles, thereby driving tire sales. Additionally, the expansion of road infrastructure and a growing emphasis on vehicle maintenance and safety are encouraging the adoption of high-performance tires. The region’s favorable economic conditions and supportive government policies for the automotive sector are further propelling market growth.
Moreover, the growing popularity of electric vehicles (EVs) is boosting the demand for specialized tires, which are designed to enhance vehicle efficiency and performance. Along with this, the increasing presence of global tire manufacturers establishing production facilities in the region to meet local and export demand is also contributing significantly to the market's expansion.
Download sample copy of the report: https://www.imarcgroup.com/south-east-asia-tire-market/requestsample
South East Asia Tire Industry Scope and Growth Analysis:
The scope of the market is expanding as automotive and tire manufacturers increasingly focus on innovation and product diversification. The South East Asia tire market analysis reveals that the market is witnessing the introduction of advanced tire technologies, such as run-flat tires and self-sealing tires, which cater to the evolving consumer preferences for safety and convenience. Concurrently, the region's burgeoning aftermarket segment presents substantial growth opportunities, driven by a growing vehicle parc and an increasing trend of tire replacements. The rapid adoption of radial tires, particularly in commercial vehicles, is broadening the market scope, enhancing fuel efficiency, and reducing operational costs.
Furthermore, the growing demand for tires in industrial applications, such as construction and mining, is contributing to the market’s expansion. Market analysis indicates that factors broadening the market scope include the rising penetration of digital platforms for tire sales and services, coupled with the increasing investment in research and development by key players in the industry.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Bridgestone Sales (Thailand) Co. Ltd.
- Continental AG
- Michelin
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co. Ltd. (Furukawa Group)
South East Asia Tire Market Report Segmentation:
The report has segmented the market into the following categories:
Design Insights:
- Radial Market
- Bias Market
End Use Insights:
- OEM Market
- Replacement Market
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
Country Insights:
- Indonesia
- Thailand
- Singapore
- Philippines
- Vietnam
- Malaysia
- Others
Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=19768&flag=C
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- 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 leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
