Philippines Tire Market (2019-2025): Market Forecast By Origin (Local Manufacturing and Imports), By Vehicle Types (Trucks (Radial and Bias), Light Trucks (Radial and Bias), Passenger Cars and Two-Wheelers )) and Competitive Landscape

The Philippines Tire Market is Projected to Grow at a CAGR of 13.3% during 2019-25

Increasing sales of trucks and passenger cars on account of various automotive sector policies such as Comprehensive Automotive Resurgence Strategy (CARS program), Comprehensive Motor Vehicle Development Program and Rising Per Capita Income have propelled the growth of tire industry in the Philippines in last few years. In addition to these policies, rising consumer spending and strengthening transportation infrastructure supported by government programs such as "Build, Build, Build" (BBB) Program and rising share of the urban population would drive the demand for tires over the next six years.

According to this research, the Philippines tire market is projected to grow at a CAGR of 13.3% during 2019-25. Increasing the disposable income of vehicle owners, growing automotive demand and the rapidly growing requirement for electric vehicles in the region would offer favorable opportunities for the tire market growth in the Philippines during the forecast period. On account of increasing sales of all kinds of vehicles owing to low life-cycle cost and better puncture resistance, radial tires would be the major revenue generating segment in the Philippines tire market forecast period.

Truck tires are the leading revenue generating segment in the overall Philippines tire market. Further, the government's push for infrastructure development in the country would lift the demand for trucks which would eventually lead to higher demand for truck tires during the forecast period. However, with increasing consumer spending, the passenger cars segment is expected to grow at the fastest rate among all kinds of vehicles during the forecast period.

The report thoroughly covers the market by tire types, vehicle types and origin. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Key Highlights of the Report:

• Historical Data of Philippines Tire Market Revenues & Volume for the Period 2016-2018
• Philippines Tire Market forecast of Revenues & Volume for the Period 2019-2025
• Historical Data of Philippines Tire Market Revenues & Volume for the Period 2016-2018, By Local Manufacturing
• Market Size and Forecast of Philippines Tire Market Revenues & Volume for the Period 2019-2025, By Local Manufacturing
• Historical Data of Philippines Tire Market Revenues & Volume for the Period 2016-2018, By Import
• Philippines Tire Market Forecast Revenues & Volume for the Period 2019-2025, By Import
• Historical Data of Philippines Radial Tire Market Revenues & Volume for the Period 2016-2018
• Market Size and Forecast of Philippines Radial Tire Market Revenues & Volume for the Period 2019-2025
• Historical Data of Philippines Bias Tire Market Revenues & Volume for the Period 2016-2018
• Market Size and Forecast of Philippines Bias Tire Market Revenues & Volume for the Period 2019-2025
• Historical Data of Philippines Trucks Tire Market Revenues & Volume for the Period 2016-2018
• Market Size and Forecast of Philippines Trucks Tire Market Revenues & Volume for the Period 2019-2025
• Historical Data of Philippines Light Trucks Tire Market Revenues & Volume for the Period 2016-2018
• Market Size and Forecast of Philippines Light Trucks Tire Market Revenues & Volume for the Period 2019-2025
• Historical Data of Philippines Passenger Cars Tire Market Revenues & Volume for the Period 2016-2018
• Market Size and Forecast of Philippines Passenger Cars Tire Market Revenues & Volume for the Period 2019-2025
• Historical Data of Philippines Two-Wheeler Tire Market Revenues & Volume for the Period 2016-2018
• Market Size and Forecast of Philippines Two-Wheeler Tire Market Revenues & Volume for the Period 2019-2025
• Market Drivers and Restraints
• Trends and Developments
• Market Share, By Players, Vehicle Type
• Competitive Benchmarking
• Recommendations

Market Segmentation

The report offers a detailed analysis of the following market segments:

By Origin

• Local Manufacturing
• Imports

By Vehicle Types

• Trucks
  • Radial
  • Bias
• Light Trucks
  • Radial
  • Bias
• Passenger Cars
• Two-Wheeler