The New Zealand tire market is flourishing with the influx of Chinese players in the market. Moreover, the country has a handful number of players operating in the country through exclusive stores and dealers. The country is a complete import driven market with no production of its own. The country imports from Germany, Japan, Thailand, Indonesia, Korea, and the USA.
The developed urban area, rise in per capita income and increasing population serve as a catalyst for the expansion of the automobile sector hence; escalating the industry of automotive tire. Furthermore, the escalating discretionary spending of individuals and expansion in the fleet size is burgeoning the demand for tires in the country.
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. The dealer and distributor segment dominated the New Zealand tire market in 2019 due to the vast network of dealers in the absence of OEMs. It is estimated that there are around 600 to 900 tire retailers in the country. The increasing penetration towards online sales is projected to surge the market in forthcoming years. Furthermore, all-season tires dominated the tire market with the largest market share in 2019. Owing to the climatic conditions in the country, all-season tires perform well in the dry weather conditions as well as wet conditions.
Demand for Passenger and Commercial Vehicles Boosting the Requirement for Tires
The demand for SUV and passenger cars is increasing the fleet size in the country thereby mounting the demand for tires. Moreover, the increasing logistics sector and rising preference for two-wheelers among the youth population is pushing the sales for tires. The total sales for passenger cars were 14,956 units in October, 2019 and the sales were down by 10.0% as compared to the same month in 2018 October.
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.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year and forecast year considered in the research report New Zealand Tire Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecasted up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million, while the market volume is measured in terms of Unit sold (Thousand Units).
Q. What would be the growth rate or CAGR of New Zealand Tire Market during 2020-25?
A. The market size of New Zealand Tire Market during 2020-25 is forecast to be around 3%.
Q. Who are the key competitors or players operating in New Zealand Tire Market?
A. Bridgestone, Goodyear and Dunlop Tyres, Continental, Yokohama, Michelin, Pirelli, Kumho, Hankook, Toyo, Balkrishna Industries and few others are the leading players in the New Zealand Tire Market.
Q. Does the report scope cover tire rim size wise market statistics also?
A. Yes, the scope of the report encompasses detailed tire rim size wise statistics such as market size, market segmentation, market overview based on various subcategories.
Q. Which Vehicle type segment would emerge as an opportunity area for players in New Zealand Tire Market?
A. The demand for SUV and passenger cars is increasing the fleet size in the country thereby mounting the tires market share in the New Zealand Tire Market.
Q. Which Tire type segment would emerge as an opportunity area for players in New Zealand Tire Market?
A. On the basis of tyre type, Radial tires have been gradually outperforming sales of bias tires. The demand for radial tires is more in the passenger car segment however, bias tires still hold a larger share in the OTR and medium-heavy commercial vehicle segment. The automotive tire industry is undergoing radialization.
Q. Which season wise segment would emerge as an opportunity area for players in New Zealand Tire Market?
A. All-season tires dominated the tire market with the largest market share in 2019. Owing to the climatic conditions in the country, all-season tires perform well in the dry weather conditions as well as wet conditions.
Q. Which sale channel segment would emerge as an opportunity area for players in New Zealand Tire Market?
A. The dealer and distributor segment dominated the New Zealand tire market in 2019 due to the vast network of dealers in the absence of OEMs. It is estimated that there are around 600 to 900 tire retailers in the country. The increasing penetration towards online sales is projected to surge the market in forthcoming years.
