Dublin, July 15, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The South East Asian 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.
The Indian Sports Apparel 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, the South East Asian 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 the South East Asian 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 Asian 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
South East Asia Tire Market, By Vehicle Type:
Light Commercial Vehicle
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:
Up To 14 inches
19 inches & above
South East Asia Tire Market, By Tire Type:
Non-Run Flat Tires
Run Flat Tires
South East Asia Tire Market, By Country:
Company Profiles: Detailed analysis of the major companies present in the South East Asian Tire Market.
Gajah Tunggal Tbk PT
Suryaraya Rubberindo Industries PT
Sumirubber Malaysia Sdn Bhd
PT Industri Karet Deli
Saovang Rubber JSC
Danang Rubber JSC
Casumina (The Southern Rubber Industry Joint Stock Company)
For more information about this report visit https://www.researchandmarkets.com/r/8r4saw
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900