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South East Asia Tire Market Analysis, 2020 research report depicts a deep dive market analysis of statistics of South East Asia Tire market which consists of regional and country-wise market size, forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
Impact of COVID-19 on Tire
On account of the perilous COVID-19 there have been had an adverse impact on the tire market in the South East Asia region due to disruption in the supply chain, closed-down of border and shutdown of manufacturing facility as the region has higher dependency on import. The decline in the demand in majorly impacted due to the halt on the hospitality and tourism sector. There were around 16.1 Mn tourists that visited Indonesia in 2019.
Market Opportunities
According to MarkNtel Advisors’ research report “South East Asia Tire Market Analysis, 2020”, the South East Asia Tire market is anticipated to grow at a considerable CAGR during 2021-26. The mergers and acquisitions is also boosting the growth of tire industry in the region. In 2019, Michelin acquired Indonesian peer Multistrada Arah Sarana for USD 439 million to boost production in the Southeast Asian country. Also, some Japanese automakers such as Daihatsu Motor, Toyota Motor and Honda Motor operate factories in the country which require tires for installation in vehicles which would eventually boost the production in the countries of South East Asia.
Market Segmentation
Online Sales Channel is Witnessing a Significant Growth
This is due strong presence of exclusive and authorized stores of the leading tire OEMs and Chinese tire brand along setup of tire manufacturing plant which would promulgate in the number of dealer/ exclusive outlet in the GCC region. Moreover, the increasing inclination towards the sales of tire via online platform urban cities of the countries such as Indonesia and Vietnam is expected to place a positive impact towards the growth of tires market in the coming years as revealed by the MarkNtel Advisors’ research report “South East Asia Tire Market Analysis, 2020”.
Competitive Landscape
According to MarkNtel Advisors’, the key players with a considerable market share in the South East Asia Tire market include Yokohama Rubber Co., Bridgestone, Goodyear, Toyo Tires and Rubber Co. Ltd., Continental, Pirelli, Kumho, Apollo, Dunlop, etc.
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 on South East Asia Tire Market?
A. The historical data has been provided since 2016, while the base year is 2020 and the data is forecast up-to 2026.
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.
Q. What would be the growth rate or CAGR of South East Asia Tire Market during 2021-26?
A. The growth rate of South East Asia Tire Market during 2021-26 is forecast to grow at a considerable CAGR.
Q. Who are the key competitors or players operating in South East Asia Tire Market?
A Yokohama Rubber Co., Bridgestone, Goodyear, Toyo Tires and Rubber Co. Ltd., Continental, Pirelli, Kumho, Apollo, Dunlop, etc.are few of the leading players in the South East Asia Tire Market.
Q. Which type of tire segment would emerge as an opportunity area for players in South East Asia Tire Market?
A. Bias segment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which country would emerge as an opportunity area for players in South East Asia Tire Market?
A. Malaysia and Indonesia grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for market players of South East Asia Tire Market.
