asia pacific tire market forecast 2021 - brochure
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S audi Arabia Tyre Market Forecast & Opportunities , 2020
Asia -Pacif ic Tire Market Forecast and Opportunities , 2021
M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
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T a b l e o f C o n t e n t s
S No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. APAC Tire Production Overview
5. APAC Tire Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (Passenger Cars, LCV, M&HCV, OTR & Two Wheeler)
5.2.2. By Country
5.2.3. By Radial vs Bias
5.2.4. By Demand Category (OEM Vs Replacement)
5.3 Market Attractiveness Index (Vehicle Type)
5.4 Market Attractiveness Index (Region)
6. China 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
6.2.2 By Company
6.2.3 By Region
6.2.4 By Radial vs Bias
6.2.5 By Demand Category (OEM Vs Replacement)
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6.2.6. By Prominent Tire Sizes
6.3 Market Attractiveness Index (Vehicle Type)
7. India Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type
7.2.2 By Company
7.2.3 By Region
7.2.4 By Radial vs Bias
7.2.5 By Demand Category (OEM Vs Replacement)
7.2.6. By Prominent Tire Sizes
7.3 Market Attractiveness Index (Vehicle Type)
8. Japan Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type
7.2.2 By Company
7.2.3 By Region
7.2.4 By Radial vs Bias
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7.2.5 By Demand Category (OEM Vs Replacement)
7.2.6. By Prominent Tire Sizes
7.3 Market Attractiveness Index (Vehicle Type)
9. Indonesia Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type
9.2.2 By Company
9.2.3 By Region
9.2.4 By Radial vs Bias
9.2.5 By Demand Category (OEM Vs Replacement)
9.2.6. By Prominent Tire Sizes
9.3 Market Attractiveness Index (Vehicle Type)
10. Vietnam Tire Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Vehicle Type
10.2.2 By Company
10.2.3 By Region
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10.2.4 By Radial vs Bias
10.2.5 By Demand Category (OEM Vs Replacement)
10.2.6. By Prominent Tire Sizes
10.3 Market Attractiveness Index (Vehicle Type)
11. South Korea Tire Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Vehicle Type
11.2.2 By Company
11.2.3 By Region
11.2.4 By Radial vs Bias
11.2.5 By Demand Category (OEM Vs Replacement)
11.2.6. By Prominent Tire Sizes
11.3 Market Attractiveness Index (Vehicle Type)
12. Thailand Tire Market Outlook
12.1. Market Size & Forecast
12.1.1. By Value & Volume
12.2. Market Share & Forecast
12.2.1. By Vehicle Type
12.2.2 By Company
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12.2.3 By Region
12.2.4 By Radial vs Bias
12.2.5 By Demand Category (OEM Vs Replacement)
12.2.6. By Prominent Tire Sizes
12.3 Market Attractiveness Index (Vehicle Type)
13. Taiwan Tire Market Outlook
13.1. Market Size & Forecast
13.1.1. By Value & Volume
13.2. Market Share & Forecast
13.2.1. By Vehicle Type
13.2.2 By Region
13.2.3 By Radial vs Bias
13.2.4 By Demand Category (OEM Vs Replacement)
13.2.5. By Prominent Tire Sizes
13.3 Market Attractiveness Index (Vehicle Type)
14. Australia Tire Market Outlook
14.1. Market Size & Forecast
14.1.1. By Value & Volume
14.2. Market Share & Forecast
14.2.1. By Vehicle Type
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14.2.2 By Company
14.2.3 By Region
14.2.4 By Radial vs Bias
14.2.5 By Demand Category (OEM Vs Replacement)
14.2.6. By Prominent Tire Sizes
14.3 Market Attractiveness Index (Vehicle Type)
15. Malaysia Tire Market Outlook
15.1. Market Size & Forecast
15.1.1. By Value & Volume
15.2. Market Share & Forecast
15.2.1. By Vehicle Type
15.2.2 By Company
15.2.3 By Region
15.2.4 By Radial vs Bias
15.2.5 By Demand Category (OEM Vs Replacement)
15.2.6. By Prominent Tire Sizes
15.3 Market Attractiveness Index (Vehicle Type)
16. Sri Lanka Tire Market Outlook
16.1. Market Size & Forecast
16.1.1. By Value & Volume
16.2. Market Share & Forecast
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16.2.1. By Vehicle Type
16.2.2 By Company
16.2.3 By Region
16.2.4 By Radial vs Bias
16.2.5 By Demand Category (OEM Vs Replacement)
16.2.6. By Prominent Tire Sizes
16.3 Market Attractiveness Index (Vehicle Type)
17. Bangladesh Tire Market Outlook
17.1. Market Size & Forecast
17.1.1. By Value & Volume
17.2. Market Share & Forecast
17.2.1. By Vehicle Type
17.2.2 By Company
17.2.3 By Region
17.2.4 By Radial vs Bias
17.2.5 By Demand Category (OEM Vs Replacement)
17.2.6. By Prominent Tire Sizes
17.3 Market Attractiveness Index (Vehicle Type)
18. Market Dynamics
18.1 Drivers
18.2 Challenges
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19. Market Trends & Developments
19.1 Expanding Retread Tire Market
19.2 Growing Demand for Chinese Tires
19.3 Increasing Tire Radialization
19.4 Increasing Online Sales
19.5 Rising Demand for Two-Wheelers
20. Competitive Landscape
20.1. Apollo Tyres Ltd.
20.2. JK Tyre & Industries Ltd.
20.3. MRF Limited
20.4. Kumho Tire Co., Inc.
20.5. Bridgestone Corporation
20.6. The Yokohama Rubber Co., Ltd.
20.7. Hankook Tire Co. Ltd.
20.8. Compagnie Générale des Établissements Michelin (CGEM)
20.9. The Goodyear Tire & Rubber Company
20.10. Continental Aktiengesellschaft
20.11. Hangzhou Zhongce Rubber CO.,LTD.
20.12. Sumitomo Rubber Industries, Ltd.
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20.13 Giti Tire Pte. Ltd.
20.14. Toyo Tire & Rubber Company
20.15. Triangle Tyre Co. Ltd.
21. Strategic Recommendations
22. About Us & Disclaimer
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Global tire supplier Michelin defines tire as “A precisely engineered assembly of rubber,chemicals, fabric, and metal, designed to provide traction, cushion road shock andcarry a load under varying conditions.”
Classification According to Vehicle Type
Product Definition
Vehicle Segment Sub-Segment Customer Segment
Passenger Car
Hatchback & Sedan
IndividualsSUVs
Van
Light Commercial VehiclePickup and Light Truck
Transport Companies, Logistics, Small Business Entrepreneurs,
Government
Light Bus
Medium & Heavy Commercial vehicle
Truck
Bus
Two-wheeler
Scooter
IndividualsMotorcycle
Moped
Three-WheelerPassenger Carrier Passenger Transport
Load Carrier Logistics
OTR (Off-the-Road) Vehicle
Mining, Construction and Industrial Equipment
Mining companies, Construction companies and Industries
Agriculture Vehicle Farmers
Others (Go-cart Vehicles, Golf Cart Vehicles, Special Purpose Vehicles, etc. )
Sports companies, Adventure activity industries etc.
P r o d u c t O v e r v i e w
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•In-depth secondary research was used todetermine top players in APAC tire market,overall market size and to identify topautomobile tire manufactures.
Market Profiling
•In order to conduct industry experts interviews,TechSci Research formulated a detailedquestionnaire.
Formulating Questionnaire
•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.
Developing list of respondents
•TechSci Research conducted interviews withindustry experts, industry players, for datacollection and verification.
Data Collection
•Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.
Data Validation
•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis etc.to obtain qualitative and quantitative insightsabout the APAC tire market.
Data Analysis
Data Collection
Data Filter& Analysis
Research &Intelligence
ActionableInsights
BusinessSolution
A
C
B
Primary Research
Company Analysis
Desk Research
Identifying Key Opinion
Leaders
Questionnaire Design
In-depth Interviews
Market Participants
Key Strengths
Tire Portfolio
OEM Tie-ups
Recent
Developments
Market Changing
Aspects/Dynamics
Government
Policies
Final Conclusion
LinkedIn TechSci Internal
database
Factiva Hoovers
Paid Sources
Company Website Company Annual
Reports White Paper Study Financial Reports Investor
Presentations Regulatory Body, Associations, etc.
Secondary Research
Primary Research
R e s e a r c h M e t h o d o l o g y
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R e s e a r c h M e t h o d o l o g y
Baseline Methodology:
For the study, TechSci Research has gathered information through primary research surveys with leadingtire companies operating in Asia-Pacific, and subsequently verified information from majordealers/distributors of automobile tires in the region. We also put through an exhaustive search of crediblepaid databases such as Business Week, Factiva, Hoovers, etc., including our internal database. Our teamof analysts has then prudently evaluated all collected information and presented the same in chronologicalorder to depict a meaningful and clear picture of Asia-Pacific (APAC) tire market.
While compiling the data, we have also cross-checked all the collected information from multiple sourcesand data warehouses, so as to present the most accurate and precise information of the concernedindustry. We use innovative business model that focuses on improving productivity, which ensuringcreation of high-quality reports. The reports are prepared with in-depth primary research, followed byexhaustive secondary research.
Primary Research – Company/Dealers & Distributors Interviewed
Few of Sources of Secondary Research
S. No. Company/Dealers & Distributor Names
1. Bridgestone
2. Yokohama
3 Michelin
4. Goodyear
5. Apollo
6. CEAT
S. No. Secondary Sources
1. Automotive Tyre Manufacturers Associations
2. Society of Indian Automotive Manufacturers
3. ASEAN Automotive Federation
4. OICA
5.Vietnam Automobile Manufacturers’ Association
6. World Bank
7. International Monetary Fund
8.The Association of Indonesia AutomotiveIndustries
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For the preparation of APAC tire market report, bottom up model has been used, which has been later on
cross validated by using top down approach.
Tire Production
TechSci Research has mapped production capacities of almost all tire manufacturing units in APAC region, with
the help of a series of primary research surveys of all the major tire manufacturing companies in the region,
followed by cross validation through secondary sources such as company annual reports and industry
associations. TechSci Research has been successful in identifying the production capacities of each tire plant
as well as their respective plant locations, establishment dates and type of tires manufactured.
Vehicle Production, Sales & Fleet Size
The basic data points needed for the analysis of APAC tire market are the historical, current and forecast
figures for vehicle production, sales and fleet size. Data for fleet size has been extracted through various
government sources and credible data portals. TechSci Research has maintained a database for vehicle
production, sales and fleet size for each vehicle segment (passenger cars, light commercial vehicle, medium &
heavy commercial vehicles, two-wheelers & off-the-road vehicles), which is regularly updated through various
primary research surveys and secondary sources such as automotive associations & government publications.
Tire Demand
OEM Tire Sales
OEM tire demand has been calculated by multiplying the average number of tires per vehicle to the total
number of vehicle produced. For example, for two-wheeler segment, the average number of tires is
considered to be two and for passenger cars, the average number of tires is five. Further, the average number
of tires for light commercial vehicles (LCVs), medium & heavy commercial vehicles (M&HCVs) and off-the road
(OTR) vehicles have been considered as 5, 7 and 4, respectively.
R e s e a r c h M e t h o d o l o g y
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R e s e a r c h M e t h o d o l o g y
Replacement Tire Sales
Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet size and historical
vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleet with the
replacement tire ratio, which is obtained by conducting a series of surveys with car owners to understand the
frequency of tire replacement as it varies for different countries depending upon factors such as road conditions,
climate, economic and regulatory policies applicable in a country. The replacement ratio is expressed as a
percentage; and is considered to be 100% if one tire is replaced per vehicle per year.
Example for Passenger Car replacement Tire demand calculation:
The calculated replacement tire demand data is further analyzed by TechSci Research through Delphi technique
i.e. multiple rounds of telephonic interviews were conducted with tire companies/dealers in APAC region. The
information thus gathered through primary interviews is cross-verified through industry experts and secondary
sources such as annual reports and paid databases to generate meaningful results.
Total Tire Market
Forecast
For forecasting the numbers, we have used time series analysis along with regression analysis, followed by
judgmental analysis.
Passenger
Car Fleet
Size
(Volume)
X
Replacement
Ratio
(in %)
X No. of Tires =Replacement
Tire Demand
1,00,000 X 10% X 4 = 40,000 Tires
OEM Tire Sales +Replacement Tire
Sales= Total Tire Market
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I n d u s t r y B r i e f
APAC Tire Market to Grow at 8% till 2021
Continuously growing automobile sales and expanding vehicle fleet to drive Asia-Pacific tire market through 2021
According to recently released TechSci Research report, “Asia-Pacific Tire Market Forecast and Opportunities,2021”, the tire market in Asia-Pacific region is forecast to grow at a CAGR of over 8% during 2016 – 2021, on accountof increasing automobile production and expanding vehicle fleet, especially in China and India. In 2011, two-wheelertire segment dominated the Asia-Pacific tire market in volume terms. However, the scenario changed in 2015, andpassenger car tire segment accounted for the largest share in the region’s tire market, owing to increasing sales ofpassenger cars due to rising disposable income and expanding middle class consumers. The region’s tire market isdominated by the replacement tire segment on account of continuing expansion of automotive fleet.
China and India are the major demand generating countries for tires in the Asia-Pacific region, due to growingpopulation base, expanding middle class population and rising disposable income. In 2015, the population of Chinaand India stood at 1.37 billion and 1.31 billion, respectively. Launch of “Automotive Mission Plan, 2016-2026” isanticipated to augment the automobile production in India in the coming years, which is expected to drive demandfor tires through 2021. Presence of major automotive OEMs such as Ford, Hyundai, Honda, Mahindra, Maruti Suzuki,TATA, BMW, etc., is propelling OEM tire demand in Asia-Pacific. Nevertheless, replacement segment continues todominate demand for tires in the region due to continuing expansion of automobile fleet in Asia-Pacific.
Asia-Pacific is undergoing a major infrastructure transformation. A large number of huge construction projects areunderway or in pipeline, owing to growing developmental activities being undertaken in energy, communication,transport, water, health and housing sectors across the region. Consequently, demand for tires in Asia-Pacific isexpected to continue growing over the next five years, on account of increasing vehicle sales as well as expandingvehicle fleet, both in commercial as well as non-commercial vehicle segments. Furthermore, rising number ofautomobile exports coupled with growing customer inclination towards purchasing passenger cars is expected todrive Asia-Pacific tire market during the forecast period, said Mr. Karan Chechi, Research Director with TechSciResearch, a research based global management consulting firm.
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S a m p l e D a t a - S n a p s h o t
Asia-Pacific Tire Market Size, By Value (USD
Billion), By Volume (Million Unit), 2011-2021F
100 200 300 400 500 600 700 800 900 1,000 1,100
150300
450600
750900
1,0501,200
1,3501,500
1,650
2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F
Value (USD Billion) Volume (Million Unit)Source:XXXXX
Note: These are dummy figures; please purchase our report for actual data
Asia-Pacific Tire Market Share, By Vehicle Type, By Volume, 2011-2021F
10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15%5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5%12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%
18% 18% 18% 18% 18% 18% 18% 18% 18% 18% 18%
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Two-Wheeler Passenger Car LCV
M&HCV OTR Vehicle Three-Wheeler
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
14.00%
0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50
Asia-Pacific Tire Market Attractiveness Index, By
Vehicle Type, By Value, 2015-2021F
Passenger Car
Light Commercial Vehicle
Three-Wheeler
OTR
Two-Wheeler
Medium & Heavy Commercial Vehicle
India Tire Market Share, By Vehicle Type, By Volume, 2011-2021F
10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%
18% 18% 18% 18% 18% 18% 18% 18% 18% 18% 18%
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15%
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Two-Wheeler PC M&HCV LCV Three-Wheeler OTR
40% 40% 40% 40% 40% 40% 40%
60% 60% 60% 60% 60% 60% 60%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Radial Bias
Asia-Pacific Tire Market Share, By Radial Vs Bias, By
Volume, 2015-2021F
India Tire Market Share, By Region, By Volume, 2015-2021F
10% 10% 10% 10% 10% 10% 10%
20% 20% 20% 20% 20% 20% 20%
30% 30% 30% 30% 30% 30% 30%
40% 40% 40% 40% 40% 40% 40%
2015 2016E 2017F 2018F 2019F 2020F 2021F
North South East West
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R e p o r t O r d e r i n g
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Report Price
Report Name: Asia-Pacific Tire Market Forecast and Opportunities, 2021
License Type Price
Electronic Access - Single User License $5000
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A b o u t U s & D i s c l a i m e r
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TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides
market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving
productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-
specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global
industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation
of the opportunities available in the market.
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Disclaimer
The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, canchange without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption.Usage of the same for purpose other than internal will require prior approval of TechSci Research.