Asia Pacific Tire Market Forecast 2021 - brochure

19
Saudi Arabia Tyre Market Forecast & Opportunities, 2020 Asia - Pacific Tire Market Forecast and Opportunities, 2021 Market Intelligence . Consulting

Transcript of Asia Pacific Tire Market Forecast 2021 - brochure

S audi Arabia Tyre Market Forecast & Opportunities , 2020

Asia -Pacif ic Tire Market Forecast and Opportunities , 2021

M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

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S No. Contents

1. Product Overview

2. Research Methodology

3. Analyst View

4. APAC Tire Production Overview

5. APAC Tire Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value & Volume

5.2. Market Share & Forecast

5.2.1. By Vehicle Type (Passenger Cars, LCV, M&HCV, OTR & Two Wheeler)

5.2.2. By Country

5.2.3. By Radial vs Bias

5.2.4. By Demand Category (OEM Vs Replacement)

5.3 Market Attractiveness Index (Vehicle Type)

5.4 Market Attractiveness Index (Region)

6. China Tire Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value & Volume

6.2. Market Share & Forecast

6.2.1. By Vehicle Type

6.2.2 By Company

6.2.3 By Region

6.2.4 By Radial vs Bias

6.2.5 By Demand Category (OEM Vs Replacement)

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6.2.6. By Prominent Tire Sizes

6.3 Market Attractiveness Index (Vehicle Type)

7. India Tire Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Vehicle Type

7.2.2 By Company

7.2.3 By Region

7.2.4 By Radial vs Bias

7.2.5 By Demand Category (OEM Vs Replacement)

7.2.6. By Prominent Tire Sizes

7.3 Market Attractiveness Index (Vehicle Type)

8. Japan Tire Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value & Volume

7.2. Market Share & Forecast

7.2.1. By Vehicle Type

7.2.2 By Company

7.2.3 By Region

7.2.4 By Radial vs Bias

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7.2.5 By Demand Category (OEM Vs Replacement)

7.2.6. By Prominent Tire Sizes

7.3 Market Attractiveness Index (Vehicle Type)

9. Indonesia Tire Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value & Volume

9.2. Market Share & Forecast

9.2.1. By Vehicle Type

9.2.2 By Company

9.2.3 By Region

9.2.4 By Radial vs Bias

9.2.5 By Demand Category (OEM Vs Replacement)

9.2.6. By Prominent Tire Sizes

9.3 Market Attractiveness Index (Vehicle Type)

10. Vietnam Tire Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value & Volume

10.2. Market Share & Forecast

10.2.1. By Vehicle Type

10.2.2 By Company

10.2.3 By Region

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10.2.4 By Radial vs Bias

10.2.5 By Demand Category (OEM Vs Replacement)

10.2.6. By Prominent Tire Sizes

10.3 Market Attractiveness Index (Vehicle Type)

11. South Korea Tire Market Outlook

11.1. Market Size & Forecast

11.1.1. By Value & Volume

11.2. Market Share & Forecast

11.2.1. By Vehicle Type

11.2.2 By Company

11.2.3 By Region

11.2.4 By Radial vs Bias

11.2.5 By Demand Category (OEM Vs Replacement)

11.2.6. By Prominent Tire Sizes

11.3 Market Attractiveness Index (Vehicle Type)

12. Thailand Tire Market Outlook

12.1. Market Size & Forecast

12.1.1. By Value & Volume

12.2. Market Share & Forecast

12.2.1. By Vehicle Type

12.2.2 By Company

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12.2.3 By Region

12.2.4 By Radial vs Bias

12.2.5 By Demand Category (OEM Vs Replacement)

12.2.6. By Prominent Tire Sizes

12.3 Market Attractiveness Index (Vehicle Type)

13. Taiwan Tire Market Outlook

13.1. Market Size & Forecast

13.1.1. By Value & Volume

13.2. Market Share & Forecast

13.2.1. By Vehicle Type

13.2.2 By Region

13.2.3 By Radial vs Bias

13.2.4 By Demand Category (OEM Vs Replacement)

13.2.5. By Prominent Tire Sizes

13.3 Market Attractiveness Index (Vehicle Type)

14. Australia Tire Market Outlook

14.1. Market Size & Forecast

14.1.1. By Value & Volume

14.2. Market Share & Forecast

14.2.1. By Vehicle Type

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14.2.2 By Company

14.2.3 By Region

14.2.4 By Radial vs Bias

14.2.5 By Demand Category (OEM Vs Replacement)

14.2.6. By Prominent Tire Sizes

14.3 Market Attractiveness Index (Vehicle Type)

15. Malaysia Tire Market Outlook

15.1. Market Size & Forecast

15.1.1. By Value & Volume

15.2. Market Share & Forecast

15.2.1. By Vehicle Type

15.2.2 By Company

15.2.3 By Region

15.2.4 By Radial vs Bias

15.2.5 By Demand Category (OEM Vs Replacement)

15.2.6. By Prominent Tire Sizes

15.3 Market Attractiveness Index (Vehicle Type)

16. Sri Lanka Tire Market Outlook

16.1. Market Size & Forecast

16.1.1. By Value & Volume

16.2. Market Share & Forecast

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16.2.1. By Vehicle Type

16.2.2 By Company

16.2.3 By Region

16.2.4 By Radial vs Bias

16.2.5 By Demand Category (OEM Vs Replacement)

16.2.6. By Prominent Tire Sizes

16.3 Market Attractiveness Index (Vehicle Type)

17. Bangladesh Tire Market Outlook

17.1. Market Size & Forecast

17.1.1. By Value & Volume

17.2. Market Share & Forecast

17.2.1. By Vehicle Type

17.2.2 By Company

17.2.3 By Region

17.2.4 By Radial vs Bias

17.2.5 By Demand Category (OEM Vs Replacement)

17.2.6. By Prominent Tire Sizes

17.3 Market Attractiveness Index (Vehicle Type)

18. Market Dynamics

18.1 Drivers

18.2 Challenges

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19. Market Trends & Developments

19.1 Expanding Retread Tire Market

19.2 Growing Demand for Chinese Tires

19.3 Increasing Tire Radialization

19.4 Increasing Online Sales

19.5 Rising Demand for Two-Wheelers

20. Competitive Landscape

20.1. Apollo Tyres Ltd.

20.2. JK Tyre & Industries Ltd.

20.3. MRF Limited

20.4. Kumho Tire Co., Inc.

20.5. Bridgestone Corporation

20.6. The Yokohama Rubber Co., Ltd.

20.7. Hankook Tire Co. Ltd.

20.8. Compagnie Générale des Établissements Michelin (CGEM)

20.9. The Goodyear Tire & Rubber Company

20.10. Continental Aktiengesellschaft

20.11. Hangzhou Zhongce Rubber CO.,LTD.

20.12. Sumitomo Rubber Industries, Ltd.

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20.13 Giti Tire Pte. Ltd.

20.14. Toyo Tire & Rubber Company

20.15. Triangle Tyre Co. Ltd.

21. Strategic Recommendations

22. About Us & Disclaimer

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Global tire supplier Michelin defines tire as “A precisely engineered assembly of rubber,chemicals, fabric, and metal, designed to provide traction, cushion road shock andcarry a load under varying conditions.”

Classification According to Vehicle Type

Product Definition

Vehicle Segment Sub-Segment Customer Segment

Passenger Car

Hatchback & Sedan

IndividualsSUVs

Van

Light Commercial VehiclePickup and Light Truck

Transport Companies, Logistics, Small Business Entrepreneurs,

Government

Light Bus

Medium & Heavy Commercial vehicle

Truck

Bus

Two-wheeler

Scooter

IndividualsMotorcycle

Moped

Three-WheelerPassenger Carrier Passenger Transport

Load Carrier Logistics

OTR (Off-the-Road) Vehicle

Mining, Construction and Industrial Equipment

Mining companies, Construction companies and Industries

Agriculture Vehicle Farmers

Others (Go-cart Vehicles, Golf Cart Vehicles, Special Purpose Vehicles, etc. )

Sports companies, Adventure activity industries etc.

P r o d u c t O v e r v i e w

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•In-depth secondary research was used todetermine top players in APAC tire market,overall market size and to identify topautomobile tire manufactures.

Market Profiling

•In order to conduct industry experts interviews,TechSci Research formulated a detailedquestionnaire.

Formulating Questionnaire

•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.

Developing list of respondents

•TechSci Research conducted interviews withindustry experts, industry players, for datacollection and verification.

Data Collection

•Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.

Data Validation

•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis etc.to obtain qualitative and quantitative insightsabout the APAC tire market.

Data Analysis

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

A

C

B

Primary Research

Company Analysis

Desk Research

Identifying Key Opinion

Leaders

Questionnaire Design

In-depth Interviews

Market Participants

Key Strengths

Tire Portfolio

OEM Tie-ups

Recent

Developments

Market Changing

Aspects/Dynamics

Government

Policies

Final Conclusion

LinkedIn TechSci Internal

database

Factiva Hoovers

Paid Sources

Company Website Company Annual

Reports White Paper Study Financial Reports Investor

Presentations Regulatory Body, Associations, etc.

Secondary Research

Primary Research

R e s e a r c h M e t h o d o l o g y

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R e s e a r c h M e t h o d o l o g y

Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leadingtire companies operating in Asia-Pacific, and subsequently verified information from majordealers/distributors of automobile tires in the region. We also put through an exhaustive search of crediblepaid databases such as Business Week, Factiva, Hoovers, etc., including our internal database. Our teamof analysts has then prudently evaluated all collected information and presented the same in chronologicalorder to depict a meaningful and clear picture of Asia-Pacific (APAC) tire market.

While compiling the data, we have also cross-checked all the collected information from multiple sourcesand data warehouses, so as to present the most accurate and precise information of the concernedindustry. We use innovative business model that focuses on improving productivity, which ensuringcreation of high-quality reports. The reports are prepared with in-depth primary research, followed byexhaustive secondary research.

Primary Research – Company/Dealers & Distributors Interviewed

Few of Sources of Secondary Research

S. No. Company/Dealers & Distributor Names

1. Bridgestone

2. Yokohama

3 Michelin

4. Goodyear

5. Apollo

6. CEAT

S. No. Secondary Sources

1. Automotive Tyre Manufacturers Associations

2. Society of Indian Automotive Manufacturers

3. ASEAN Automotive Federation

4. OICA

5.Vietnam Automobile Manufacturers’ Association

6. World Bank

7. International Monetary Fund

8.The Association of Indonesia AutomotiveIndustries

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For the preparation of APAC tire market report, bottom up model has been used, which has been later on

cross validated by using top down approach.

Tire Production

TechSci Research has mapped production capacities of almost all tire manufacturing units in APAC region, with

the help of a series of primary research surveys of all the major tire manufacturing companies in the region,

followed by cross validation through secondary sources such as company annual reports and industry

associations. TechSci Research has been successful in identifying the production capacities of each tire plant

as well as their respective plant locations, establishment dates and type of tires manufactured.

Vehicle Production, Sales & Fleet Size

The basic data points needed for the analysis of APAC tire market are the historical, current and forecast

figures for vehicle production, sales and fleet size. Data for fleet size has been extracted through various

government sources and credible data portals. TechSci Research has maintained a database for vehicle

production, sales and fleet size for each vehicle segment (passenger cars, light commercial vehicle, medium &

heavy commercial vehicles, two-wheelers & off-the-road vehicles), which is regularly updated through various

primary research surveys and secondary sources such as automotive associations & government publications.

Tire Demand

OEM Tire Sales

OEM tire demand has been calculated by multiplying the average number of tires per vehicle to the total

number of vehicle produced. For example, for two-wheeler segment, the average number of tires is

considered to be two and for passenger cars, the average number of tires is five. Further, the average number

of tires for light commercial vehicles (LCVs), medium & heavy commercial vehicles (M&HCVs) and off-the road

(OTR) vehicles have been considered as 5, 7 and 4, respectively.

R e s e a r c h M e t h o d o l o g y

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R e s e a r c h M e t h o d o l o g y

Replacement Tire Sales

Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet size and historical

vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleet with the

replacement tire ratio, which is obtained by conducting a series of surveys with car owners to understand the

frequency of tire replacement as it varies for different countries depending upon factors such as road conditions,

climate, economic and regulatory policies applicable in a country. The replacement ratio is expressed as a

percentage; and is considered to be 100% if one tire is replaced per vehicle per year.

Example for Passenger Car replacement Tire demand calculation:

The calculated replacement tire demand data is further analyzed by TechSci Research through Delphi technique

i.e. multiple rounds of telephonic interviews were conducted with tire companies/dealers in APAC region. The

information thus gathered through primary interviews is cross-verified through industry experts and secondary

sources such as annual reports and paid databases to generate meaningful results.

Total Tire Market

Forecast

For forecasting the numbers, we have used time series analysis along with regression analysis, followed by

judgmental analysis.

Passenger

Car Fleet

Size

(Volume)

X

Replacement

Ratio

(in %)

X No. of Tires =Replacement

Tire Demand

1,00,000 X 10% X 4 = 40,000 Tires

OEM Tire Sales +Replacement Tire

Sales= Total Tire Market

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I n d u s t r y B r i e f

APAC Tire Market to Grow at 8% till 2021

Continuously growing automobile sales and expanding vehicle fleet to drive Asia-Pacific tire market through 2021

According to recently released TechSci Research report, “Asia-Pacific Tire Market Forecast and Opportunities,2021”, the tire market in Asia-Pacific region is forecast to grow at a CAGR of over 8% during 2016 – 2021, on accountof increasing automobile production and expanding vehicle fleet, especially in China and India. In 2011, two-wheelertire segment dominated the Asia-Pacific tire market in volume terms. However, the scenario changed in 2015, andpassenger car tire segment accounted for the largest share in the region’s tire market, owing to increasing sales ofpassenger cars due to rising disposable income and expanding middle class consumers. The region’s tire market isdominated by the replacement tire segment on account of continuing expansion of automotive fleet.

China and India are the major demand generating countries for tires in the Asia-Pacific region, due to growingpopulation base, expanding middle class population and rising disposable income. In 2015, the population of Chinaand India stood at 1.37 billion and 1.31 billion, respectively. Launch of “Automotive Mission Plan, 2016-2026” isanticipated to augment the automobile production in India in the coming years, which is expected to drive demandfor tires through 2021. Presence of major automotive OEMs such as Ford, Hyundai, Honda, Mahindra, Maruti Suzuki,TATA, BMW, etc., is propelling OEM tire demand in Asia-Pacific. Nevertheless, replacement segment continues todominate demand for tires in the region due to continuing expansion of automobile fleet in Asia-Pacific.

Asia-Pacific is undergoing a major infrastructure transformation. A large number of huge construction projects areunderway or in pipeline, owing to growing developmental activities being undertaken in energy, communication,transport, water, health and housing sectors across the region. Consequently, demand for tires in Asia-Pacific isexpected to continue growing over the next five years, on account of increasing vehicle sales as well as expandingvehicle fleet, both in commercial as well as non-commercial vehicle segments. Furthermore, rising number ofautomobile exports coupled with growing customer inclination towards purchasing passenger cars is expected todrive Asia-Pacific tire market during the forecast period, said Mr. Karan Chechi, Research Director with TechSciResearch, a research based global management consulting firm.

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S a m p l e D a t a - S n a p s h o t

Asia-Pacific Tire Market Size, By Value (USD

Billion), By Volume (Million Unit), 2011-2021F

100 200 300 400 500 600 700 800 900 1,000 1,100

150300

450600

750900

1,0501,200

1,3501,500

1,650

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Billion) Volume (Million Unit)Source:XXXXX

Note: These are dummy figures; please purchase our report for actual data

Asia-Pacific Tire Market Share, By Vehicle Type, By Volume, 2011-2021F

10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15%5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5%12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%

18% 18% 18% 18% 18% 18% 18% 18% 18% 18% 18%

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Two-Wheeler Passenger Car LCV

M&HCV OTR Vehicle Three-Wheeler

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50

Asia-Pacific Tire Market Attractiveness Index, By

Vehicle Type, By Value, 2015-2021F

Passenger Car

Light Commercial Vehicle

Three-Wheeler

OTR

Two-Wheeler

Medium & Heavy Commercial Vehicle

India Tire Market Share, By Vehicle Type, By Volume, 2011-2021F

10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%

18% 18% 18% 18% 18% 18% 18% 18% 18% 18% 18%

25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%15% 15% 15% 15% 15% 15% 15% 15% 15% 15% 15%

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Two-Wheeler PC M&HCV LCV Three-Wheeler OTR

40% 40% 40% 40% 40% 40% 40%

60% 60% 60% 60% 60% 60% 60%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Radial Bias

Asia-Pacific Tire Market Share, By Radial Vs Bias, By

Volume, 2015-2021F

India Tire Market Share, By Region, By Volume, 2015-2021F

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

30% 30% 30% 30% 30% 30% 30%

40% 40% 40% 40% 40% 40% 40%

2015 2016E 2017F 2018F 2019F 2020F 2021F

North South East West

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R e p o r t O r d e r i n g

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Report Name: Asia-Pacific Tire Market Forecast and Opportunities, 2021

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A b o u t U s & D i s c l a i m e r

TechSci Research – Europe

54, Oldbrook, Bretton,

Peterborough,

United Kingdom

Email: [email protected]

www.techsciresearch.com

TechSci Research – Asia-Pacific

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Capital Region, U.P. - India

Tel: +91-120-4523900

Email: [email protected]

www.techsciresearch.com

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New York, United States

Tel: +1- 646- 360- 1656

Email: [email protected]

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About Us

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides

market research reports in a number of areas to organizations. The company uses innovative business models that focus on improving

productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-

specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global

industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation

of the opportunities available in the market.

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Disclaimer

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, canchange without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption.Usage of the same for purpose other than internal will require prior approval of TechSci Research.