Thailand Tire Market to Reach $ 3 Billion by 2023
Increasing automobile fleet coupled with rising investments
in tire manufacturing by government to aid growth of Thailand tire market
through 2023
According
to TechSci Research report, “Thailand
Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias, By Rim
Size, By Price Segment, Competition Forecast & Opportunities, 2013 - 2023”, Thailand tire market is projected to cross $
3 billion by 2023 on account of increasing vehicle fleet in the country.
Moreover, production of automobiles is rising in Thailand, which is further
pushing demand for tires from the OEM segment in the country. The rising
presence of various leading tire players such as Bridgestone
Sales (Thailand) Co. Ltd, Michelin Thailand, Sumitomo Corporation Thailand,
Deestone Group, Goodyear (Thailand), etc., and their continuing operations in the country’s
tire industry are further anticipated to intensify competition in Thailand Tire
market over the next five years.
Browse 77 market data Figures and Tables spread
through 115 Pages and an in-depth TOC on "Thailand Tire Market"
https://www.techsciresearch.com/report/thailand-tire-market/3589.html
In
2017, two-wheeler tire segment dominated Thailand tire market with more than
one-third value share, and the segment is expected to maintain its dominance
during forecast period as well on the back of rising demand for two-wheelers
due to climatic conditions of Thailand, rising per capita income of Thailand
and penetration of electric two-wheelers. Among regions, Northern region of
Thailand is the major demand generator owing to the region’s high population. Additionally,
government of Thailand along with major tire companies are making investments
to increase tire production in the country, thereby further fuelling growth in
the market.
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“Easy
availability of raw material for manufacturing tires is attracting
manufacturers to set up plants in Thailand, which is fuelling growth in tire
market across the country. Moreover, rising inclination towards electric
vehicles and expanding tire distribution network are further likely to steer
growth in Thailand tire market over the coming years.” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Thailand Tire
Market By Vehicle Type, By Demand Category, By Radial Vs Bias, By Rim Size,
By Price Segment, Competition Forecast & Opportunities, 2013 - 2023” has analyzed the potential of tire market
across Thailand 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 Thailand tire market.
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