Press Release Description

New Zealand Tire Market: A 100% Import Driven Market

The rising discretionary spending of millennials coupled with surging sales of vehicles in the region is flourishing the sales for tires in the country. Moreover, rapid urbanization, increasing population and a mounting number of the affluent customer are placing a positive influence over the market of passenger and commercial cars, thus projected to fuel up the tire market in the country.

Additionally, the rising road developments and infrastructural projects such as the development of Waitemata Harbour and Puhoi Crossing is further expected to intensify the demand for OTR vehicles and MHCVs, thereby, acting as a catalyst for the increasing the demand for OTR tire replacements.

According to the MarkNtel Advisors research report, the CAGR of New Zealand Tire Market Analysis, 2020”, is expected to be around 3% in terms of units sold during 2020-25. New Zealand is an import driven market for tires. The replacement market grabbed a considerable market share in the New Zealand tire market in 2019. The climatic conditions which reduce the shelf life of tire thereby boosting the demand for frequent replacement. Moreover, the mounting construction activities and stimulate in the sales of vehicles are contributing towards the growth of the replacement tire market in the country.

Moreover, the dealer and distributor’s network grabbed a major market share in the New Zealand tire market in 2019. However, the rapid evolution of online sales is burgeoning as the prices offered online is less as compared to offline sales.

 

Radial Tires Outpaced Bias Tires

The automotive industry is undergoing radialization as the OEMs are shifting towards radial tires in vehicles especially passenger cars and light commercial vehicles. The booming demand for radial tires has been generated due to its properties as it has more flexible sidewalls and consumes less fuel. However, the MHCV and OTR vehicle segment still hold the major share in the bias tires.

The new registration of vehicles in October 2019 registrations of 14,956 vehicles were down 10.0% (1,705 units) on the same month in 2018. Registration of 10,322 passenger cars and SUVs for October 2019 were down 9.6% (1,135 units) on 2018 volumes, while commercial vehicle registrations of 4,333 were down 11.6% (570 units) compared to October 2018. The total sales of vehicles in the country was around 156,032 in 2018 as compared to 159,363 in 2017. The slump in sales of vehicles would negatively impact the tire market as revealed by MarkNtel Advisors’ in their research report, “New Zealand Tire Market Analysis, 2020”.

According to the MarkNtel Advisors the major leading players in the New Zealand tire market are Bridgestone, Goodyear and Dunlop Tyres, Continental, Yokohama, Michelin, Pirelli, Kumho, Hankook, Toyo, Balkrishna Industries among others. In 2018, Telleborg acquired a tire distributor in New Zealand that is a company for material handling, agricultural and construction purposes. The company is located in Wanganui, New Zealand.

“New Zealand Tire Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for New Zealand Tire market providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.

Industry Segmentation:

1. By Type of Vehicles (Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicles, Off the Road (OTR), Two Wheelers)
2. By Demand Category (OEM and Replacement)
3. By Type of Tires (Radial and Bias)
4. By Sales Channel (Dealer/Exclusive stores, Online and Others)
5. By Season (all season, winter and Summer)
6. By Region (North, South, West, Queensland, New South Wales, Victoria)
7. By Price Category (Budget (Up to USD90), Economy (USD91-USD140), Premium (Above USD140))
8. By Rim Diameter (Upto 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”)
9. By Company (Bridgestone, Goodyear and Dunlop Tyres, Continental, Yokohama, Michelin, Pirelli, Kumho, Hankook, Toyo, Federal tyres New Zealand)

Key questions answered in the study:

1. What are the current and future trends of the New Zealand tire market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the country?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the New Zealand tire market?
6. What are the customer orientation, purchase behavior, and expectations from New Zealand tire suppliers across various regions?

Need Assistance?
100% Safe & Secure
Strongest encryption on the website to make your purchase safe and secure