Southeast Asia Truck and Bus Tire Market Research Report: Forecast (2024-2030)

Southeast Asia Truck and Bus Tire Market Report - By Vehicle Type (Bus, Truck), By Demand Type (OEMs, Replacement), By Price Category (Budget, Economy, Premium), By Tire Type (Radi......al, Bias), By Sales Channel (Online, Multi Brand Stores, Exclusive Outlets, Direct Sales), By Tire Size (Tire Size 1, Tire Size 2, Tire Size 3, Tire Size 4, Tire Size 5), Others Read more

  • Tire
  • May 2024
  • 147
  • PDF, Excel, PPT

Market Insights & Analysis: Southeast Asia Truck and Bus Tire Market (2024-30):

The Southeast Asia Truck and Bus Tire Market is estimated to grow at a CAGR of around 6.7% during the forecast period, i.e., 2024-30. The market growth is driven by the growing requirement for public transportation, expansion of e-commerce & logistics, etc. Rapid urbanization and population growth in countries like Indonesia, Thailand, Vietnam, and the Philippines result in increased demand for public transportation and goods movement within and between urban centers.

According to the Economic and Social Commission for Asia and the Pacific, presently, half of Southeast Asia's population resides in urban areas, and an estimated additional 70 million people will inhabit Southeast Asian cities by 2025. This growing urban population is driving the need for a larger fleet of buses for public transportation across the region. Owing to these, governments across the regions are emphasizing on buses to enhance public transportation. For instance:

  • In 2023, the Indonesian government inaugurated an eco-friendly mass transport system in the new capital city (IKN) Nusantara, with an investment of around USD 16 million. The investment is used for procuring electric rapid transit buses, electric taxis, electric rental cars, as well as public buses.     

Report Coverage

Details

Study Period

Historical Data: 2019-22

Base Year: 2023

Forecast Period: 2024-30

CAGR (2024-2030)

6.7%

Country Covered

Thailand, Vietnam, Malaysia, Indonesia, Singapore, Rest of Southeast Asia

Key Companies Profiled

Bridgestone Corporation, Goodyear Tire and Rubber Company, Michelin, Continental AG, Yokohama Rubber Co. Ltd., Pirelli Tyre S.p.A, Sumitomo Rubber Industries Ltd., Toyo Tire Corporation, Zhongce Rubber Group Co., Ltd., Sailun Group Co., Ltd., Kumho Tire, Kumho Tire, and Others

Market Denominations

USD Million/Billion

 

Thus, increased utilization of buses, especially in densely populated urban areas, inevitably leads to wear & tear on tires, driving the requirement of tires for replacement. Furthermore, the expansion of e-commerce and online retail platforms in Southeast Asia has revolutionized the way consumers shop, leading to a significant increase in demand for efficient logistics and transportation services. With more consumers opting for the convenience of shopping online, there is a growing need for reliable and timely delivery of goods, particularly for last-mile deliveries to customers' doorsteps and intercity transportation between distribution centers. To meet the escalating demands of the e-commerce sector, logistics companies such as DHL, J&T Express, Trans Track, etc., are expanding their fleets of trucks to handle the growing volume of shipments.

  • In 2024, the Mober, a Philippine electric vehicle (EV) delivery company, announced a USD 2 million seed funding. With the new funding, Mober has expanded its EV fleet to 60 vehicles, enhancing its capability to meet the rising demand for logistics services.

These trucks serve as the backbone of the logistics network, facilitating the movement of goods from warehouses to fulfillment centers and ultimately to customers' locations. As a result, there is a corresponding surge in demand for truck tires to support the expanding logistics sector. Moreover, governments such as Thailand, Vietnam, Indonesia, etc., are heavily investing in strengthening their infrastructure by building connected transportation networks across the country.

Consequently, the increasing infrastructure investment by the government to augment the demand for trucks to carry heavy loads and construction materials during the forecast period. This would boost the requirement for tires in the coming years.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Southeast Asia Truck and Bus Tire Import-Export Analysis, 2019-2023
  5. Southeast Asia Truck and Bus Tire Market Supply Chain Analysis
  6. Southeast Asia Truck and Bus Tire Market Trends & Developments
  7. Southeast Asia Truck and Bus Tire Market Dynamics
    1. Drivers
    2. Challenges
  8. Southeast Asia Truck and Bus Tire Market Hotspot & Opportunities
  9. Southeast Asia Truck and Bus Tire Market Regulations and Policy 
  10. Southeast Asia Truck and Bus Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousands)
    2. Market Size & Analysis
      1. By Vehicle Type
        1. Bus- Market Size & Forecast 2019-2030, Thousand Units
        2. Truck- Market Size & Forecast 2019-2030, Thousand Units
      2. By Demand Type
        1. OEMs- Market Size & Forecast 2019-2030, Thousand Units
        2. Replacement- Market Size & Forecast 2019-2030, Thousand Units
      3. By Price Category
        1. Budget - Market Size & Forecast 2019-2030, Thousand Units
        2. Economy- Market Size & Forecast 2019-2030, Thousand Units
        3. Premium-Market Size & Forecast 2019-2030, Thousand Units
      4. By Tire Type
        1. Radial-Market Size & Forecast 2019-2030, Thousand Units
        2. Bias-Market Size & Forecast 2019-2030, Thousand Units
      5. By Sales Channel
        1. Online- Market Size & Forecast 2019-2030, Thousand Units
        2. Multi Brand Stores - Market Size & Forecast 2019-2030, Thousand Units
        3. Exclusive Outlets - Market Size & Forecast 2019-2030, Thousand Units
        4. Direct Sales- Market Size & Forecast 2019-2030, Thousand Units
      6. By Tire Size
        1. Tire Size 1 - Market Size & Forecast 2019-2030, Thousand Units
        2. Tire Size 2 - Market Size & Forecast 2019-2030, Thousand Units
        3. Tire Size 3- Market Size & Forecast 2019-2030, Thousand Units
        4. Tire Size 4- Market Size & Forecast 2019-2030, Thousand Units
        5. Tire Size 5- Market Size & Forecast 2019-2030, Thousand Units
      7. By Country
        1. Singapore
        2. Indonesia
        3. Malaysia
        4. Thailand
        5. Vietnam
        6. Rest of Southeast Asia
      8. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
  11. Singapore Truck and Bus Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousands)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, Thousand Units
      2. By Demand Type- Market Size & Forecast 2019-2030, Thousand Units
      3. By Price Category- Market Size & Forecast 2019-2030, Thousand Units
      4. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
      5. By Sales Channel- Market Size & Forecast 2019-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2019-2030, Thousand Units
  12. Indonesia Truck and Bus Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousands)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, Thousand Units
      2. By Demand Type- Market Size & Forecast 2019-2030, Thousand Units
      3. By Price Category- Market Size & Forecast 2019-2030, Thousand Units
      4. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
      5. By Sales Channel- Market Size & Forecast 2019-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2019-2030, Thousand Units
  13. Malaysia Truck and Bus Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousands)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, Thousand Units
      2. By Demand Type- Market Size & Forecast 2019-2030, Thousand Units
      3. By Price Category- Market Size & Forecast 2019-2030, Thousand Units
      4. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
      5. By Sales Channel- Market Size & Forecast 2019-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2019-2030, Thousand Units
  14. Thailand Truck and Bus Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousands)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, Thousand Units
      2. By Demand Type- Market Size & Forecast 2019-2030, Thousand Units
      3. By Price Category- Market Size & Forecast 2019-2030, Thousand Units
      4. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
      5. By Sales Channel- Market Size & Forecast 2019-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2019-2030, Thousand Units
  15. Vietnam Truck and Bus Tire Market Outlook, 2019-2030F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousands)
    2. Market Share & Analysis
      1. By Vehicle Type- Market Size & Forecast 2019-2030, Thousand Units
      2. By Demand Type- Market Size & Forecast 2019-2030, Thousand Units
      3. By Price Category- Market Size & Forecast 2019-2030, Thousand Units
      4. By Tire Type- Market Size & Forecast 2019-2030, Thousand Units
      5. By Sales Channel- Market Size & Forecast 2019-2030, Thousand Units
      6. By Tire Size- Market Size & Forecast 2019-2030, Thousand Units
  16. Southeast Asia Truck and Bus Tire Industry Key Strategic Imperatives for Growth & Success
  17. Competition Outlook
    1. Company Profiles
      1. Bridgestone Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Goodyear Tire and Rubber Company
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Michelin
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Continental AG
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Yokohama Rubber Co. Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Pirelli Tyre S.p.A
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. Sumitomo Rubber Industries Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Toyo Tire Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Zhongce Rubber Group Co., Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Sailun Group Co., Ltd.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Kumho Tire
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Others
  18. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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