The Asia-Pacific tire market is projected to witness a CAGR of 3.5% during the forecast period (2020-2026). Expected growth in the automotive market of the emerging economies such as China, India, South Korea, and ASEAN countries during the forecast period is a major factor for the growth of the market. Moreover, increasing per capita income and rising demand for high-performance tires are also increasing in the region. Demand from agricultural, and other special categories such as off-road, go-kart is expected, which is expected to provide significant growth to the market.
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The Asia-Pacific tire market is segmented based on vehicle type, road application, construction, tire type, and sales channel. By vehicle type, the market is further segmented into passenger cars, light & medium commercial vehicles, heavy commercial vehicles, two-wheeler, and other. During the forecast period, passenger cars and two-wheelers are expected to maintain a major market share in the country (in terms of volume). The market is further studied based on geography and is segmented into China, Japan, India, and the Rest of Asia Pacific. China will hold the largest market share during the forecast period.
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Some of the key players of the Asia-Pacific tire market include Apollo Tires Ltd., Bridgestone Corp., Giti Tire Pte Ltd., MRF Ltd., Sumitomo Rubber Industries Ltd., The Yokohama Rubber Co, Ltd., and Toyo Tire Corp., among others. The market players are significantly contributing to the market growth by adopting various strategies including mergers, & acquisitions, collaborations, new product launch, and geographical expansion, to stay competitive in the market.
Market Segmentation
Asia-Pacific Automotive Tire Market by Vehicle Type
• Passenger Cars
• Light &Medium Commercial Vehicle
• Heavy Commercial Vehicle
• Two-Wheeler
• Other (Construction, Agricultural, Customized Sports)
Asia-Pacific Automotive Tire Market by Road Application
• All-Season Tire
• Summer Tire
• Winter Tire
• Other (All-Terrain Tire)
Asia-Pacific Automotive Tire Market by Construction
• Radial Tire
• Bias Ply Tire
Asia-Pacific Automotive Tire Market by Tire Type
• Tubeless Tire
• Tubbed Tire
Asia-Pacific Automotive Tire Market by Sales Channel
• OEM (Original Equipment Manufacturer)
• Aftermarket (Replacement)
Regional Analysis
• China
• Japan
• India
• Rest of Asia-Pacific
Company Profiles
Aeolus Tyre Co. Ltd.
• Overview
• Aeolus Tyre Co. Ltd. in Asia-Pacific
• olusTyre Co. Ltd. in Tire Industry
• Recent Developments
• Apollo Tires Ltd.
• Bridgestone Corp.
• Ceat Ltd.
• Cheng Shin Rubber Ind. Co. Ltd.
• Continental AG
• Cooper Tire & Rubber Co.
• Giti Tire Pte Ltd.
• Goodyear Tire and Rubber Co.
• Hankook Tire Co. Ltd.
• JKTyre& Industries Ltd.
• Kenda Rubber Industrial Co., Ltd.
• Kumho Tire Co. Inc.
• Michelin Group
• MRF Ltd.
• Nexan Tire Corp.
• Omni United (S) Pte. Ltd.
• Pirelli & C. S.p.A.
• Sumitomo Rubber Industries Ltd.
• The Yokohama Rubber Co, Ltd.
• Toyo Tire Corp.
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