Asia Pacific Tire Market Size, Outlook, Segmentation by Radial/Bias Tires, End-Use, Vehicle Type, Size, Distribution Channel and Country Analysis by 2022-2027 | Michelin, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company and More

According to the latest report by IMARC Group, titled "Asia Pacific Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the elevating demand for first and second-hand cars in countries such as India, China, Indonesia, Malaysia, etc., is among the key factors driving the Asia Pacific tire market.

Year considered to estimate the market size:

• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027

The Asia Pacific tire market size reached 1,170 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 1,520 Million Units by 2027, exhibiting a growth rate (CAGR) of 4.7% during 2022-2027.

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Competitive Landscape with Key Players:

The competitive landscape of the Asia Pacific tire industry has been studied in the report with the detailed profiles of the key players operating in the market.

List of Key Companies Covered in this Market Report:

• Michelin
• Bridgestone Corporation
• Continental AG
• Goodyear Tire & Rubber Company
• Sumitomo Corporation
• Pirelli C. S.p.A.
• Yokohama Tire Corporation
• Hankook Tire & Technology Co., Ltd
• Toyo Tire Corporation
• Kumho Tire Co., Ltd.

Tire Market  Outlook for Asia Pacific:

Tire refers to a circular automotive component that is made up of natural or synthetic rubber compound, silica, wire, carbon black, steel, etc., and is inflated with compressed air. It is largely available in radial and bias construction variants and numerous sizes.

These automotive tire models are custom-built for supporting the weight of a vehicle, absorbing road shocks, and transmitting traction for acceleration and braking. They help maintain and change the direction of travel thereby ensuring passenger safety and a seamless car handling experience. Consequently, tire products are extensively utilized in the production of passenger cars, heavy commercial, light commercial, and other vehicles.

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Market Trends and Drivers:

The inflating investments towards several infrastructure projects, including bridges, roads, tunnels, etc., to improve transport connectivity are further catalyzing the market across the region. Besides this, the growing automobile production and the expanding fleet size are acting as significant growth-inducing factors.

Additionally, the rising usage of both light and heavy commercial vehicles in construction and logistics activities is also positively influencing the regional market. Apart from this, the launch of next-generation high-performance tires for premium and luxury cars and the escalating requirement for replacement tires, on account of the large consumer base of second-hand passenger cars, are expected to stimulate the Asia Pacific tire market in the coming years.

Asia Pacific Tire Market Segmentation

The report has segmented the APAC tire market on the basis of radial/bias tires, end use, vehicle type, size, distribution channel and country.

Based on Radial/Bias Tires:

• Radial
• Bias

Based on End-Use:

• OEM
• Replacement

Based on Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two-Wheelers
• Off-The-Road (OTR)
• Three-Wheelers

Based on Size:

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two-Wheelers
• Off-The-Road (OTR)
• Three-Wheelers

Based on Distribution Channel:

• Offline
• Online

Breakup by Country:

• China
• India
• Japan
• Australia
• Indonesia
• South Korea
• Thailand
• Malaysia
• Pakistan
• Other Regions

Explore full report with TOC & List of Figures: https://www.imarcgroup.com/asia-pacific-tire-market

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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