Australia Tire Market to be Completely Driven by Replacement Tire Demand
Growing
automobile fleet, increasing online tire sales and rapid industrialization to
drive Australia tire market through 2024
According to TechSci Research report, “Australia
Tire Market By Vehicle Type, By Radial vs. Bias, Competition Forecast &
Opportunities, 2014 – 2024”, tire market in
Australia is forecast to reach over $ 4.4 billion by 2024 on account of expanding
vehicle fleet, rising infrastructure growth and increasing penetration of
Chinese players. Growing sales of tires through the online medium, rising tire
radialization and burgeoning demand for Tire Pressure Monitoring System (TPMS) are
some of the other factors that would positively influence the market during the
forecast period. As automobile manufacturers are pulling out from Australia
owing to high operational costs in the country, the tire market is expected to
be solely dependent on replacement tire demand from 2018 onwards.
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Tables and 48 Figures spread through 114 Pages and an in-depth TOC on "Australia Tire Market"
https://www.techsciresearch.com/report/australia-tire-market/2830.html
Over
the last few years, vehicle fleet in the country has been growing at a brisk
pace. Passenger car tire segment
dominated Australia tire market in 2018 and the segment is expected to continue
its market dominance in the coming years as well, owing to expanding passenger
car fleet. With rising industrialization and expanding logistics sector, demand
for medium & heavy commercial vehicles (M&HCVs) is likely to grow at a
robust pace, which in turn would drive the country’s tire market over the next
five years.
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“Backed by technologically advanced
manufacturing processes and increasing consumer confidence in purchasing
retread tires for commercial and OTR vehicles, the retread tire segment is
growing at a healthy pace in Australia. Additionally, growing presence of various companies such as Bridgestone, Pirelli, Goodyear
& Dunlop, Kumho, Hankook, Michelin, etc., through their strong
dealer and distribution networks, is expected to further intensify market
competition in Australia tire market during the next five years”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Australia Tire
Market By Vehicle Type, By Radial vs. Bias, Competition Forecast &
Opportunities, 2014 – 2024” has
evaluated the future growth potential of tire market in Australia 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
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rather than follow market trends.
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