Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 12.7 Billion

CAGR (2023-2028)

6.28%

Fastest Growing Segment

Passenger Cars

Largest Market

Thailand

Market Overview

South East Asia Tire Market has valued at USD 12.7 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.28%. The South East Asia tire market is currently experiencing substantial growth, fueled by the increasing number of vehicles on the road and the rising demand for high-quality tires. This growth can be attributed to the burgeoning automobile sectors in countries such as Indonesia, Thailand, and Malaysia, where the demand for vehicles is on a steady rise. Moreover, the rapid urbanization and notable growth in per capita income across the Country have further propelled the demand for tires, as more individuals can now afford personal vehicles.

Furthermore, it is important to note that the market is not solely characterized by the growing sales of new vehicles, but also by the significant demand for replacement tires. As the number of vehicles on the road continues to increase, so does the need for tire replacements, contributing significantly to the overall market size. This presents an immense opportunity for tire manufacturers and suppliers to cater to the demand for both new and replacement tires.

In addition to the increasing number of vehicles, another factor driving the demand for replacement tires is the changing weather conditions across different Countries. In areas with harsh winters, the need for winter or snow tires becomes crucial to ensure safe driving. Similarly, in hot climates, the demand for specialized tires that can withstand high temperatures and provide optimal performance is on the rise.

Furthermore, advancements in tire technology have also played a significant role in shaping the market. With the introduction of innovative features such as run-flat tires, self-sealing tires, and low rolling resistance tires, consumers now have a wide range of options to choose from based on their specific needs and preferences. These technological advancements not only enhance the overall performance and safety of the vehicles but also contribute to the growth of the replacement tire market.

In summary, the market for replacement tires is thriving due to the increasing number of vehicles on the road, changing weather conditions, and advancements in tire technology. Tire manufacturers and suppliers who can adapt to these evolving trends and cater to the diverse needs of consumers are well-positioned to capitalize on this lucrative market opportunity.

However, it's worth highlighting that the market expansion does come with its fair share of challenges. Fluctuating raw material prices, for instance, pose a significant challenge for tire manufacturers as it directly affects the cost of production and, ultimately, the pricing of tires. Additionally, stringent environmental regulations require tire manufacturers to adopt sustainable practices and develop eco-friendly solutions, adding another layer of complexity to the market dynamics.

In conclusion, the South East Asia tire market is undeniably poised for substantial growth, driven by various factors such as the increasing number of vehicles, booming automobile sectors, rapid urbanization, and growth in per capita income. While challenges exist, this market presents lucrative opportunities for manufacturers and suppliers to meet the growing demand for high-quality tires and contribute to the overall development of the Country's automotive industry. With advancements in technology and continuous innovation, the tire market is expected to evolve, providing even more opportunities for growth and expansion in the coming years.  

Key Market Drivers 

Economic Growth and Increased Vehicle Ownership

Economic growth in South East Asia is a primary driver of the region's tire market. As countries in the region experience rising income levels and improved living standards, there is a subsequent increase in vehicle ownership. More consumers have the purchasing power to buy cars, motorcycles, and other forms of transportation. With a growing number of vehicles on the road, the demand for tires has surged. Economic growth is closely associated with increased vehicle ownership, and this trend drives the demand for both original equipment manufacturer (OEM) tires and replacement tires in South East Asia.

Expanding Automotive Industry

The automotive industry in South East Asia is booming, and this growth is a significant driver of the tire market. Several countries in the region have become attractive destinations for automotive manufacturing, with both domestic and international manufacturers establishing production facilities. This expansion of the automotive sector has a direct impact on the tire market. As more vehicles are produced, there is a simultaneous demand for OEM tires. Furthermore, the development of the automotive industry has created a robust aftermarket for replacement tires, as existing vehicle owners seek tire replacements and upgrades. The interplay between the automotive industry and the tire market drives growth and innovation in South East Asia.

Consumer Demand for High-Performance Tires

South East Asian consumers are increasingly seeking high-performance tires to enhance their driving experiences. The demand for tires that offer superior handling, grip, and stability is on the rise, particularly among enthusiasts and performance-oriented vehicle owners. High-performance tires are favored for their ability to provide better traction, control, and cornering capabilities. This trend aligns with the region's growing middle class and their desire for more advanced and specialized tire options. As consumers look for tires that can complement their vehicles and driving habits, tire manufacturers are responding by introducing a wider range of high-performance options.

Environmental Concerns and Eco-Friendly Tires

Environmental concerns and the desire for eco-friendly tires are driving the South East Asia Tire Market toward sustainability. With growing awareness of environmental issues, consumers are increasingly looking for tires that are designed to be more fuel-efficient and eco-friendly. Eco-friendly tires, which typically have lower rolling resistance and contribute to better fuel economy, resonate with those seeking to reduce their carbon footprint. In some countries within the region, there are even government initiatives and incentives that promote the use of eco-friendly tires. This trend reflects a commitment to sustainability and is shaping the tire market in South East Asia.

Rapid Urbanization and Infrastructure Development

Rapid urbanization and infrastructure development in South East Asia are drivers of the tire market, especially for commercial vehicles. As urban areas expand and transportation networks improve, the demand for commercial vehicles, such as trucks and buses, has increased. These vehicles are essential for logistics, public transportation, and the movement of goods in urban and suburban environments. The growth of commercial vehicle fleets has a direct impact on the demand for commercial tires, including those used for trucks and buses. The rapid development of urban infrastructure requires reliable and durable tires, making it a pivotal driver of the tire market in the region.     


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Key Market Challenges

Intense Competition and Price Sensitivity

Intense competition is a primary challenge in the South East Asia Tire Market. The region has a significant number of tire manufacturers and suppliers, ranging from domestic to international brands. The presence of multiple competitors results in a highly competitive environment where brands vie for market share. Price sensitivity among consumers is a significant factor in this competition, as many consumers in the region prioritize affordability when purchasing tires. This can lead to price wars and cost-cutting measures, affecting profit margins for manufacturers. Tire companies must navigate this challenging landscape by balancing quality and price to remain competitive while ensuring profitability.

Low-Cost Imports and Counterfeit Tires

The influx of low-cost imported tires and counterfeit products is a substantial challenge in the South East Asia Tire Market. Some countries in the region, particularly those with less stringent regulations, are susceptible to the entry of substandard and counterfeit tires. These tires, often of inferior quality, can pose serious safety risks to consumers. The presence of such products can undermine consumer confidence in the tire market and affect the reputation of established brands. Tackling the issue of low-cost imports and counterfeit tires requires increased regulatory oversight, consumer education, and efforts to distinguish genuine products from counterfeit ones.

Environmental Regulations and Sustainability Expectations

Environmental regulations and sustainability expectations present challenges for tire manufacturers in South East Asia. As global concerns over environmental impact and carbon emissions grow, regulatory bodies are imposing stricter standards on tire production. These standards often involve the reduction of tire-related emissions and the development of more sustainable manufacturing processes. Compliance with these regulations can be costly and require investments in research and development to create eco-friendly tire options. While addressing sustainability is essential, it can be challenging for manufacturers to balance regulatory requirements with the need for affordable products in price-sensitive markets.

Infrastructure and Road Conditions

Infrastructure and road conditions in South East Asia can be challenging for tire durability and performance. The region encompasses a wide range of terrains and weather conditions, from rugged rural landscapes to dense urban environments. These diverse conditions can be harsh on tires, leading to wear and damage. Furthermore, poorly maintained roads, with potholes and debris, can accelerate tire wear and increase the frequency of replacements. Manufacturers must adapt their tire designs to withstand the challenges posed by South East Asia's road infrastructure and varying landscapes to ensure consumer safety and satisfaction.

Consumer Education and Product Knowledge

Consumer education and product knowledge represent a challenge in the South East Asia Tire Market. Many consumers lack comprehensive knowledge about tires, their types, and the significance of various specifications, such as tire sizes, speed ratings, and load-carrying capacity. This knowledge gap can lead to consumers making suboptimal choices when purchasing tires, potentially affecting their safety and vehicle performance. Manufacturers and distributors need to invest in consumer education initiatives to raise awareness about tire safety, proper maintenance, and the selection of the right tires for specific vehicles and conditions. Bridging the gap in consumer knowledge is crucial for ensuring the safe and effective use of tires in the region.    

Key Market Trends 

Growing Demand for All-Season Tires

One prominent trend in the South East Asia Tire Market is the increasing demand for all-season tires. These tires are designed to perform well in various weather conditions, including dry, wet, and light snow. South East Asia, with its diverse climates, ranging from tropical to temperate, has seen consumers seeking versatile tire options that eliminate the need for seasonal tire changes. All-season tires offer convenience, cost savings, and practicality for vehicle owners who want a single set of tires to suit a range of weather conditions. As a result, all-season tires are gaining popularity across the region, with tire manufacturers responding by expanding their offerings in this category.

High-Performance and Ultra-High-Performance Tires

The demand for high-performance and ultra-high-performance tires is on the rise in South East Asia. These tires cater to enthusiasts and performance-oriented vehicle owners looking for superior grip, handling, and control. High-performance tires are valued for their enhanced traction, stability, and cornering capabilities, making them appealing to drivers who prioritize vehicle performance. In addition to high-performance tires, ultra-high-performance tires are designed for even greater speed and handling capabilities, further fueling the trend. The growth in this segment reflects the region's expanding middle class and the desire for more advanced and specialized tire options.

Digitalization and Online Tire Sales

Digitalization and online tire sales are rapidly becoming significant trends in the South East Asia Tire Market. As digital technology continues to proliferate in the region, consumers are increasingly turning to online platforms to research and purchase tires. E-commerce platforms provide easy access to a wide range of tire options, including detailed product information, customer reviews, and the convenience of doorstep delivery or installation services. With the growth of digital channels, consumers are better equipped to make informed tire choices. Manufacturers and retailers are capitalizing on this trend by investing in user-friendly websites and mobile apps, making online tire shopping an increasingly popular choice in South East Asia.

Eco-Friendly and Fuel-Efficient Tires

The trend of eco-friendly and fuel-efficient tires is gaining momentum in the South East Asia Tire Market. As environmental awareness continues to grow, consumers are seeking tires that are designed to be more fuel-efficient and eco-friendly. These tires typically have lower rolling resistance, which can contribute to better fuel economy and reduced carbon emissions. Environmental regulations in various countries within the region have also played a role in promoting the adoption of eco-friendly tires. As a result, consumers looking to reduce their carbon footprint and improve their vehicles' fuel efficiency are driving the demand for this category of tires.

Increased Adoption of Run-Flat Tires

Run-flat tires are experiencing increased adoption in the South East Asia Tire Market, particularly in the premium and luxury vehicle segments. Run-flat tires are designed to continue functioning even after a puncture, allowing drivers to continue to their destination at reduced speeds. These tires provide added convenience and safety, reducing the risk of being stranded due to a flat tire. The trend of run-flat tires aligns with the preferences of South East Asian consumers who prioritize convenience and safety, and it is increasingly popular in premium and high-end vehicle models.

Segmental Insights

Vehicle Type Insights

The South East Asia tire market offers a diverse range of vehicle type insights, reflecting the unique and ever-evolving transportation landscape of the region. Cars and light trucks currently dominate the market, serving as the primary mode of personal transportation for individuals across urban and rural areas. The market for these vehicles is driven by factors such as affordability, ease of maintenance, and convenience.

However, there is a growing demand for motorcycle tires in the region, fueled by the increasing popularity of motorcycles as a cost-effective and flexible means of commuting within the bustling cities. Motorcycles offer advantages such as maneuverability in congested traffic, lower fuel consumption, and easier parking. As a result, more people are opting for motorcycles as their preferred mode of transportation, leading to a rising need for reliable and durable motorcycle tires.

In addition to the dominance of cars, motorcycles, and light trucks, commercial vehicle tires also hold a significant share in the South East Asia tire market. This is largely driven by the region's robust logistics and transportation sector, which heavily relies on trucks and vans for the movement of goods and services. With the increasing trade and economic activities in the region, the demand for commercial vehicle tires is expected to further escalate. Manufacturers need to cater to the specific requirements of commercial vehicles, such as load-bearing capacity and durability, to meet the demands of this segment.

Furthermore, while the market for heavy-duty vehicle tires and agricultural equipment is relatively smaller compared to other vehicle types, it remains integral to the overall tire industry in South East Asia. In countries with substantial farming or industrial sectors, such as Indonesia and Thailand, the demand for heavy-duty vehicle tires remains steady. These tires play a crucial role in large-scale agricultural operations, construction projects, and the transportation of heavy goods. Manufacturers focusing on this segment should consider the unique challenges faced by heavy-duty vehicles, including high load-carrying capacity and resistance to rough terrains.

Overall, the South East Asia tire market exhibits a dynamic and evolving landscape, shaped by diverse vehicle types and the changing transportation needs of the region. With a growing demand for different tire categories, including motorcycles, commercial vehicles, and heavy-duty applications, tire manufacturers and distributors operating in the region have opportunities to meet the evolving needs of customers while facing the challenges associated with this vibrant market.

Tire Construction Type Insights  

The South East Asia tire market is segmented by construction type into radial and bias categories. Radial tire construction, renowned for its durability and fuel efficiency, dominates the market. This is largely due to the high demand for long-lasting tires in the rapidly growing automotive sector in this region, where commuters heavily rely on their vehicles for daily transportation. With the increasing number of cars on the road and the need for better fuel economy, radial tires have become the preferred choice among consumers.

On the other hand, bias tires, while less prevalent, still find application in heavy machinery and off-road vehicles due to their robustness and resistance to damage, particularly in countries with challenging terrain like Indonesia and Vietnam. These tires are designed to withstand rough and uneven surfaces, providing enhanced traction and stability in various industries such as construction, agriculture, and mining. Despite the dominance of radial tires, bias tires play a crucial role in specific sectors where durability and reliability are of utmost importance.

As the automotive industry continues to evolve, tire manufacturers in South East Asia are constantly striving to innovate and improve both radial and bias tire technologies. This ensures that consumers have a wide range of options to choose from based on their specific needs and requirements, ultimately contributing to the overall growth and development of the tire market in the region.

In recent years, tire manufacturers have been focusing on developing eco-friendly tire technologies in response to the increasing demand for sustainable and environmentally-conscious products. This includes the use of renewable materials, such as natural rubber sourced from responsibly managed plantations, and the incorporation of innovative tread designs that enhance fuel efficiency and reduce rolling resistance. Additionally, advancements in tire manufacturing processes have led to the production of tires with improved wet grip and reduced noise levels, enhancing safety and comfort for drivers.

Furthermore, tire manufacturers are investing in research and development to create intelligent tire systems that can monitor tire pressure, temperature, and tread wear in real-time. These smart tire technologies not only improve safety by providing early warnings of potential tire failures but also optimize tire performance and lifespan, resulting in cost savings for consumers.

With the continuous advancements in tire technology and the growing emphasis on sustainability, the South East Asia tire market is poised for further growth and innovation. As consumers become more conscious of their environmental footprint and demand higher performance from their tires, tire manufacturers in the region are committed to delivering innovative solutions that meet these evolving needs.  


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Country Insights

The tire market in South East Asia has been experiencing significant growth in recent years. This growth can be attributed to various factors, including the increasing number of vehicles on the road and continuous infrastructure development in the region. Countries like Indonesia, Thailand, and Malaysia have emerged as key players in the market, boasting large market sizes due to their thriving automotive industries.

Furthermore, the demand for both passenger car tires and commercial vehicle tires has been steadily rising. This surge in demand can be attributed to several factors, such as robust economic growth and increased consumer spending in the region. As more people are able to afford vehicles, the need for quality tires has become paramount.

However, the tire market in South East Asia is not without its challenges. Fluctuating raw material prices pose a concern for manufacturers, as they need to ensure a consistent supply of materials at reasonable costs. Additionally, there is increasing competition among tire manufacturers, as more companies enter the market to capitalize on the growing demand.

Despite these challenges, the future of the tire market in South East Asia looks promising. Advancements in tire technology, such as the development of more durable and eco-friendly tires, are expected to drive further growth in the sector. Moreover, the growing popularity of electric and hybrid vehicles presents new opportunities for tire manufacturers to cater to the specific needs of these vehicles.

Overall, the tire market in South East Asia is poised for continued growth and development. With the right strategies and innovations, manufacturers can navigate through the challenges and capitalize on the numerous opportunities that lie ahead.

Recent Developments

  • In March 2021, Nokian Tyres PLC announced that it is increasing its production capacity for passenger car tires at the Finnish factory by around 30%.
  • In April 2021, JK Tire announced its partnership with JBM Auto to supply radial tires for JBM Auto’s CITYLIFE CNG and ECOLIFE electric buses.

Key Market Players

  • Bridgestone Corporation
  • Continental AG
  • Goodyear Tire & Rubber Company
  • Sumitomo Rubber Industries Ltd
  • Michelin Group
  • Pirelli & C. S.p.A.
  • Yokohama Rubber Company Limited
  • Kumho Tire Co. Inc.

By Vehicle Type

By Tire Construction

By Demand Category

By Country

  • Passenger Car
  • Light Commercial Vehicle (LCV)
  • Medium & Heavy Commercial Vehicles (M&HCV)
  • Off-the-Road Vehicles (OTR)
  • Two-Wheeler
  • Three-Wheeler
  • Radial
  • Bias
  • OEM
  • Replacement
  • Indonesia
  • Vietnam
  • Thailand
  • Malaysia
  • Philippines
  • Singapore
  • Cambodia

 

 

Report Scope:

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 (LCV)

o   Medium & Heavy Commercial Vehicles (M&HCV)

o   Off-the-Road Vehicles (OTR)

o   Two-Wheeler

o   Three-Wheeler

  • South East Asia Tire Market, By Tire Construction Type:  

o   Radial

o   Bias

  • South East Asia Tire Market, By Demand Category: 

o   OEM

o   Replacement

  • South East Asia Tire Market, By Country:   

o   Indonesia

o   Vietnam

o   Thailand

o   Malaysia

o   Philippines

o   Singapore

o   Cambodia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the South East Asia Tire Market.

Available Customizations:

South East Asia Tire Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

South East Asia Tire Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report


1.3.  Market Coverage


1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7. Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Countries

3.4.  Key Segments

4.    Impact of COVID-19 on South East Asia Tire Market Outlook

5.    Voice of Customer

5.1.  Factors Influencing Purchase Decision

5.2.  Brand Awareness

5.3.  Brand Satisfaction Level

6.    South East Asia Tire Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Vehicle Type Market Share Analysis (Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicles (M&HCV), Off-the-Road Vehicles (OTR), Two-Wheeler, Three-Wheeler)

6.2.2.    By Demand Category Market Share Analysis (OEM Vs. Replacement)

6.2.3.    By Tire Construction Type Market Share Analysis (Radial Vs Bias)

6.2.4.    By Country Market Share Analysis

6.2.4.1.        Indonesia Market Share Analysis

6.2.4.2.        Vietnam Market Share Analysis

6.2.4.3.        Thailand Market Share Analysis

6.2.4.4.        Malaysia Market Share Analysis

6.2.4.5.        Philippines Market Share Analysis

6.2.4.6.        Singapore Market Share Analysis

6.2.4.7.        Cambodia Market Share Analysis

6.2.4.8.        Rest of the South East Asia Market Share Analysis   

6.2.5.    By Company Market Share Analysis (Top 5 Companies, Others – By Value, 2022)

6.3.  South East Asia Tire Market Mapping & Opportunity Assessment

6.3.1.    By Vehicle Type Market Mapping & Opportunity Assessment

6.3.2.    By Demand Category Market Mapping & Opportunity Assessment

6.3.3.    By Tire Construction Type Market Mapping & Opportunity Assessment

6.3.4.    By Country Market Mapping & Opportunity Assessment

7.    Indonesia Tire Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Volume

7.1.2.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Vehicle Type Market Share Analysis

7.2.2.    By Demand Category Market Share Analysis

7.2.3.    By Tire Construction Type Market Share Analysis

8.    Vietnam Tire Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Volume

8.1.2.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Vehicle Type Market Share Analysis

8.2.2.    By Demand Category Market Share Analysis

8.2.3.    By Tire Construction Type Market Share Analysis

9.    Thailand Tire Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Volume

9.1.2.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Vehicle Type Market Share Analysis

9.2.2.    By Demand Category Market Share Analysis

9.2.3.    By Tire Construction Type Market Share Analysis

10. Malaysia Tire Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Volume

10.1.2. By Value

10.2.             Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Demand Category Market Share Analysis

10.2.3. By Tire Construction Type Market Share Analysis

11. Philippines Tire Market Outlook

11.1.             Market Size & Forecast

11.1.1. By Volume

11.1.2. By Value

11.2.             Market Share & Forecast

11.2.1. By Vehicle Type Market Share Analysis

11.2.2. By Demand Category Market Share Analysis

11.2.3. By Tire Construction Type Market Share Analysis

12. Singapore Tire Market Outlook

12.1.             Market Size & Forecast

12.1.1. By Volume

12.1.2. By Value

12.2.             Market Share & Forecast

12.2.1. By Vehicle Type Market Share Analysis

12.2.2. By Demand Category Market Share Analysis

12.2.3. By Tire Construction Type Market Share Analysis

13. Cambodia Tire Market Outlook

13.1.             Market Size & Forecast

13.1.1. By Volume

13.1.2. By Value

13.2.             Market Share & Forecast

13.2.1. By Vehicle Type Market Share Analysis

13.2.2. By Demand Category Market Share Analysis

13.2.3. By Tire Construction Type Market Share Analysis

14. Market Dynamics

14.1.           Market Drivers

14.2.           Market Challenges

15. Market Trends & Developments

16. SWOT Analysis

16.1.           Strength

16.2.           Weakness

16.3.           Opportunities

16.4.           Threats

17. Porter’s Five Forces Model

17.1.           Competitive Rivalry

17.2.           Bargaining Powers of Suppliers

17.3.           Bargaining Powers of Buyers

17.4.           Threat of New Entrants

17.5.           Threat of Substitutes

18. Competitive Landscape

18.1.           Company Profiles (Up to 10 Major Companies)

18.1.1. Bridgestone Corporation

18.1.1.1.     Company Details

18.1.1.2.     Key Products Offered

18.1.1.3.     Recent Development

18.1.1.4.     Key Management Personnel

18.1.2. Continental AG

18.1.2.1.     Company Details

18.1.2.2.     Key Products Offered

18.1.2.3.     Recent Development

18.1.2.4.     Key Management Personnel

18.1.3. Goodyear Tire & Rubber Company

18.1.3.1.     Company Details

18.1.3.2.     Key Products Offered

18.1.3.3.     Recent Development

18.1.3.4.     Key Management Personnel

18.1.4. Sumitomo Rubber Industries Ltd

18.1.4.1.     Company Details

18.1.4.2.     Key Products Offered

18.1.4.3.     Recent Development

18.1.4.4.     Key Management Personnel

18.1.5. Michelin Group

18.1.5.1.     Company Details

18.1.5.2.     Key Products Offered

18.1.5.3.     Recent Development

18.1.5.4.     Key Management Personnel

18.1.6. Pirelli & C. S.p.A.

18.1.6.1.     Company Details

18.1.6.2.     Key Products Offered

18.1.6.3.     Recent Development

18.1.6.4.     Key Management Personnel

18.1.7. Yokohama Rubber Company Limited

18.1.7.1.     Company Details

18.1.7.2.     Key Products Offered

18.1.7.3.     Recent Development

18.1.7.4.     Key Management Personnel

18.1.8. Kumho Tire Co. Inc.

18.1.8.1.     Company Details

18.1.8.2.     Key Products Offered

18.1.8.3.     Recent Development

18.1.8.4.     Key Management Personnel

19. Strategic Recommendations

19.1.           Key Focus Areas

19.1.1. Target Countries

19.1.2. Target Vehicle Type

19.1.3. Target Demand Category

20. About Us & Disclaimer  

Figures and Tables

Frequently asked questions

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The market size of the South East Asia Tire Market was estimated to be USD 12.7 Billion in 2022.

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In 2022, the fastest growing segment by vehicle type in the South East Asia Tire Market was passenger cars. The surge in demand for passenger cars, driven by a growing middle class and increased urbanization, coupled with the advancement in tire technology, significantly contributed to the growth of this segment.

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In the Southeast Asia tire market, Thailand is currently the dominant country. This can be attributed to its robust automotive sector, large-scale tire manufacturing facilities, and the presence of several global tire companies within the country.

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The major drivers for the South East Asia Tire Market are robust economic growth and increased vehicle ownership, coupled with a rising demand for high-performance and eco-friendly tires to enhance safety and fuel efficiency.

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Srishti Verma

Business Consultant
Press Release

Tire Market to Grow with a CAGR of 6.28% in South East Asia through to 2028

Dec, 2023

The major drivers for the South East Asia Tire Market are robust economic growth and increased vehicle ownership, coupled with a rising demand for high-performance and eco-friendly tires to enhance s