Asia-pacific Tire Aftermarket, Tire Replacement Market Forecast 2022-2030
KEY FINDINGS
The Asia-Pacific tire aftermarket, tire replacement market is anticipated to accelerate with a 5.19% CAGR during the estimated years, 2022-2030. The presence of huge rubber plantations, special economic zones, skilled labor, and a strong manufacturing base drives the market growth in the region.
MARKET INSIGHTS
The Asia-Pacific tire aftermarket, tire replacement market growth evaluation entails the analysis of India, Australia & New Zealand, Indonesia, Thailand, South Korea, China, Japan, Taiwan, and Rest of Asia-Pacific. According to the International Organization of Motor Vehicle Manufacturers, China is the world’s top producer of automobiles. Because of the sheer number of automobiles affiliated with the nation, China is considered to have the largest automotive market. The country’s automotive parts and components market is likewise very large, generating demand for tire aftermarket replacement.
Additionally, In Japan, factors such as high per capita income, heavy research and development spending, and automotive companies’ presence are a boon for the aftermarket. However, the declining population is expected to shrink the demand for automotive vehicles. In addition, the aging demographics of Japan are less likely to pursue vehicular sporting activities. Hence, the Japan tire aftermarket, tire replacement market is expected to slow growth in the forecast period.
On the other hand, the Thai government announced in February 2022 that it will offer subsidies ranging from $1911 to $4097 depending on the kind and model of the vehicle, to stimulate domestic electric vehicle manufacturing and supply between 2022 and 2025. The subsidies will benefit tire replacement and tire aftermarket as different kinds of tires are used in electronic vehicles.
COMPETITIVE INSIGHTS
Leading players operating in the market include Apollo Tyres, Sumitomo Rubber Industries, Bridgestone Corporation, MRF, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
- 1. Research Scope & Methodology
- 1.1. Study Objectives
- 1.2. Scope Of Study
- 1.3. Methodology
- 1.4. Assumptions & Limitations
- 2. Executive Summary
- 2.1. Market Size & Estimates
- 2.2. Market Overview
- 3. Market Dynamics
- 3.1. Key Drivers
- 3.1.1. Greater Requirement For Energy-efficient Tires
- 3.1.2. Stringent Government Regulations Regarding Tire Labeling
- 3.2. Key Restraints
- 3.2.1. Volatile Prices Of Rubber And Other Automotive Raw Materials
- 4. Key Analytics
- 4.1. Impact Of Covid-19 On Tire Aftermarket, Tire Replacement Market
- 4.2. Key Market Trends
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Buyers Power
- 4.3.2. Suppliers Power
- 4.3.3. Substitution
- 4.3.4. New Entrants
- 4.3.5. Industry Rivalry
- 4.4. Opportunity Matrix
- 4.5. Vendor Landscape
- 4.6. Regulatory Framework
- 5. Market By Tire Type
- 5.1. Radial Tire
- 5.2. Bias Tire
- 6. Market By Rim Size
- 6.1. 13-15 Inches
- 6.2. 16-18 Inches
- 6.3. 19-21 Inches
- 6.4. More Than 21 Inches
- 7. Market By Distribution Channel
- 7.1. Original Equipment Supplier
- 7.2. Independent Aftermarket
- 8. Geographical Analysis
- 8.1. Asia-pacific
- 8.1.1. Market Size & Estimates
- 8.1.2. Key Growth Enablers
- 8.1.3. Key Challenges
- 8.1.4. Key Players
- 8.1.5. Country Analysis
- 8.1.5.1. China
- 8.1.5.2. Japan
- 8.1.5.3. India
- 8.1.5.4. South Korea
- 8.1.5.5. Indonesia
- 8.1.5.6. Thailand
- 8.1.5.7. Vietnam
- 8.1.5.8. Australia & New Zealand
- 8.1.5.9. Rest Of Asia-pacific
- 9. Competitive Landscape
- 9.1. Key Strategic Developments
- 9.1.1. Mergers & Acquisitions
- 9.1.2. Product Launches & Developments
- 9.1.3. Partnerships & Agreements
- 9.1.4. Business Expansions & Divestitures
- 9.2. Company Profiles
- 9.2.1. Apollo Tyres
- 9.2.2. Bridgestone Corporation
- 9.2.3. Ceat Limited
- 9.2.4. Continental Ag
- 9.2.5. Goodyear Tires
- 9.2.6. Hankook Tire & Technology Co Ltd
- 9.2.7. Jk Tyre
- 9.2.8. Maxxis
- 9.2.9. Michelin
- 9.2.10. Mrf
- 9.2.11. Nexen Tire Corporation
- 9.2.12. Pirelli & C Spa
- 9.2.13. Sumitomo Rubber Industries Ltd
- 9.2.14. The Yokohama Rubber Company
- 9.2.15. Toyo Tires
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