Increasing Automotive Exports to Drive the Tire Industry in Thailand

The Thailand Tire Market is expecting around 3% CAGR during 2022-27, cites MarkNtel Advisors in their recent research report. The market is driven by Thailand's massive automotive sector & tire exports, i.e., generating profitable opportunities for the leading players to increase their production & distribution capacities to meet the burgeoning consumer requirements for tires. 

Moreover, improving living standards of people & their growing inclination toward private ownership of vehicles, i.e., displaying a dramatic rise in the vehicle fleet in the country, are further augmenting the demand for tires and, in turn, indicating a significant overall market expansion through 2027, further states the research report, “Thailand Tire Market Analysis, 2022.”

Growing Fleet Size of Vehicles in Thailand to Boost the Demand for Radial Tires

Radial tires hold the largest share in the Tire Market of Thailand mainly on account of the increasing consumer interest in private ownership of vehicles, coupled with the growing consumer awareness about the various benefits of radial tires, like a stable contact with roads, flexible sidewalls, low fuel consumption & rolling resistance, improved vehicle performance, etc. As a result, the increasing sales of passenger cars are driving the demand for radial tires across Thailand and, in turn, augmenting the overall growth of the tire industry in the country.

Competitive Landscape

The top companies in the Thailand Tire Market are Continental, Bridgestone, Yokohama, Hankook, Goodyear, Michelin, Sumitomo, Pirelli, Deestone, and Toyo.

Key Questions Answered in the Research Report

1. What are the current & future trends in the Thailand Tire Market?
2. How has the industry been evolving in terms of geography & product adoption?
3. How has the competition been shaping across Thailand, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the Thailand Tire Market?
5. What are the customer orientation, purchase behavior, & expectations from the leading players operating in the Thailand Tire Market?

Market Segmentation:

1. By Type of Vehicles (Two Wheelers, Three Wheelers, Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Off the Road (OTR) Vehicles)
2. By Demand Category (OEM, Aftermarkets)
3. By Type of Tire (Radial, Bias)
4. By Sales Channel (Dealer/Distributor, Online)
5. By Season (All-Season, Summer, Winter)
6. By Price Category (Budget, Economy, Premium)
7. By Rim Diameter (Up to 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”)
8. By Region (Midwest, Northeast, South, West)