About Passenger Car Tires South Korea is one of the leading automobile manufacturing countries in the world. Thus, South Korea is one of the most significant markets for tire manufacturers. In 2011, South Korea had 284 passenger cars per 1,000 people and a total road network of 105,931 Km. The country's GNI per capita (PPP) increased by 39.16%, from $24,030 in 2005 to $33,440 in 2013. This was one of the factors that led to rise in sales of passenger cars.
The future of passenger car tire market in South Korea is expected to be positive over the forecast period due to the optimistic outlook for the automotive industry. The tire market in South Korea is driven by growing demand for automobiles, overall growth of the economy, and growth of the replacement tire market.
Technavio's analysts forecast the passenger car tire market in South Korea to grow at a CAGR of 3.78% over the period 2014-2019.
Covered in this Report In this report, Technavio covers the present scenario and growth prospects of the passenger car tire market in South Korea for the period 2015-2019. This report provides data on the market based on the following segments: - Replacement segment - OEM segment
We also present the vendor landscape and a corresponding detailed analysis of the top vendors in the market. In addition, the report discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, and identifies the key trends emerging in the market.
Technavio's report, Passenger Car Tire Market in South Korea 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the passenger car tire market landscape in South Korea and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Market Driver - Growing Sales of Passenger Cars - For a full, detailed list, view our report
Market Challenge - Dependence on Imports of Natural Rubber - For a full, detailed list, view our report
Market Trend - Development of Alternative Sources of Natural Rubber - For a full, detailed list, view our report
Key Questions Answered in this Report - What will the market size be in 2019 and what will the growth rate be? - What are the key market trends? - What is driving this market? - What are the challenges to market growth? - Who are the key vendors in this market space? - What are the market opportunities and threats faced by the key vendors? - What are the strengths and weaknesses of the key vendors?
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