Tire Sales in Malaysia to Surpass 23 Million Units by 2023
Growing
automobile fleet, increasing per capita income, favorable government
initiatives and abundant availability of raw materials to drive Malaysia tire
market through 2023
According to TechSci Research report, “Malaysia
Tire Market By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Rim
Size, Competition Forecast & Opportunities, 2013 – 2023”, tire market in Malaysia is projected to register
sales of 23.8 million units of tires by 2023. Growing population, expanding
vehicle fleet, and presence of tire manufacturing plants of several leading global
players, such as Michelin, Bridgestone, Goodyear, Continental Tyre, etc., is
expected to positively influence the country’s tire market during 2018-2023.
Moreover, Malaysia is the world’s third largest rubber producer, thus, the primary
raw material for tires is available in abundance in the country. This, in
addition to, favorable economic conditions and government initiatives towards
energy efficient vehicles would augment tire sales in Malaysia in the coming
years.
Browse 6 market data Tables and 70 Figures spread through 131
Pages and an in-depth TOC on "Malaysia Tire Market"
https://www.techsciresearch.com/report/malaysia-tire-market/2614.html
With increasing per capita income and purchasing power
of the residents in Malaysia, automobile market is expected to grow at a robust
pace in the country, which would in turn drive the tire market during the
forecast period. West region is the largest demand generator in Malaysia tire
market, owing to its huge population base and presence of prominent cities such
as Kuala Lumpur, Johor, Selangor,
Perak, Penang, etc., in the region. Passenger car tire
segment dominated the country’s tire market in 2017 and the segment is
anticipated to maintain its market dominance in the coming years as well, on
the back of growing passenger car fleet size.
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=2614
Customers can also request for 10% free customization
on this report.
“Ease of availability of raw materials makes overall
production cost less in Malaysia, and consequently, more and more tire
manufacturing companies are getting attracted to the Asian country. Moreover, expanding
vehicle fleet to cater to the increasing demand from consumers, easy auto
financing options and better climatic conditions for manufacturing tires in the
country are some of the other factors that would boost Malaysia tire market
during the forecast period.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Malaysia Tire
Market By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Rim Size,
Competition Forecast & Opportunities, 2013 – 2023” has analyzed
the potential of tire market across Malaysia, and provides statistics and
information on market size, shares and trends. The report will suffice in
providing the intending clients with cutting-edge market intelligence and help
them in taking sound investment decisions. Besides, the report also identifies
and analyzes emerging trends along with essential drivers and key challenges
faced by the industry.
About TechSci Research
TechSci
Research is a leading global market research firm publishing premium market
research reports. Serving 700 global clients with more than 600 premium market
research studies, TechSci Research is serving clients across 11 different
industrial verticals. TechSci Research specializes in research based consulting
assignments in high growth and emerging markets, leading technologies and niche
applications. Our workforce of more than 100 fulltime Analysts and Consultants
employing innovative research solutions and tracking global and country
specific high growth markets helps TechSci clients to lead rather than follow
market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]