Asia Pacific Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Asia Pacific Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

  • August 2021 •
  • 146 pages •
  • Report ID: 5949556 •
  • Format: PDF
The Asia Pacific tire market exhibited moderate growth during 2015-2020.

The market, however, has witnessed a negative impact as a result of the COVID-19 outbreak since early 2020. As a result of this pandemic, all major markets in the region such as China, India, Japan, South Korea, etc. have witnessed a significant decline in the demand across both the OEM and the replacement markets. As a result, the market is expected to face significant challenges in 2020. Looking forward, the analyst expects the Asia Pacific tire market to grow at a CAGR of around 4% during 2021-2026.

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.

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-Wheeler
Off-The-Road (OTR)
Three- Wheelers

Breakup by Size:
Passenger Cars
Market Breakup by Rim Size
Market Breakup by Tire Size
Light Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Medium and Heavy Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Two-Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Three- Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Off-The-Road (OTR)
Market Breakup by Rim Size
Market Breakup by Tire Size

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. 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?