South East Asia Tire Market, By Country, Competition, Forecast & Opportunities, 2020-2030F

The South East Asia Tire Market was valued at USD 14.31 Billion in 2024, and is expected to reach USD 20.78 Billion by 2030, rising at a CAGR of 6.41%. The South East Asia tire market is currently experiencing substantial growth, fueled by the increasing number of vehicles on the road and the rising demand for high-quality tires. This growth can be attributed to the burgeoning automobile sectors in countries such as Indonesia, Thailand, and Malaysia, where the demand for vehicles is on a steady rise. Moreover, the rapid urbanization and notable growth in per capita income across the Country have further propelled the demand for tires, as more individuals can now afford personal vehicles.

Key Market Drivers

Economic Growth and Increased Vehicle Ownership

Sustained economic growth across South East Asia has led to a remarkable rise in consumer spending and improved living standards, which directly correlates with increased vehicle ownership. As economies transition from lower-income to middle-income status, a larger segment of the population gains access to personal transportation options such as motorcycles, passenger cars, and utility vehicles. Urbanization and industrial development have created a mobile workforce, further contributing to a higher demand for private and commercial vehicles. For instance, In 2024, Thailand led Southeast Asia’s EV market with BYD selling 27,005 electric vehicles, followed by SAIC (MG) at 9,081 and Hozon (Neta) at 7,969 units, outperforming regional competitors.

Key Market Challenges

Intense Competition and Price Sensitivity

The South East Asia tire market is highly fragmented, with a wide mix of local, regional, and global players competing for consumer attention and market share. This fierce competition stems from the region’s economic attractiveness, relatively low entry barriers in some countries, and expanding vehicle base, which collectively entice numerous brands to establish operations. However, this saturated market creates significant pricing pressure. Many consumers in the region are extremely price-conscious due to income disparities and economic volatility, which forces tire companies to compete primarily on cost rather than value or brand differentiation.

Key Market Trends

Growing Demand for All-Season Tires

The increasing preference for all-season tires in South East Asia is transforming consumer behavior and influencing tire development strategies. These tires are engineered to provide a balanced performance across a range of weather conditions - dry, wet, and light snow - which makes them particularly appealing in a region that experiences variable climates throughout the year. In tropical areas with monsoon cycles and in higher-altitude zones where temperatures may drop considerably, vehicle owners are increasingly looking for a one-size-fits-all solution. All-season tires offer convenience by removing the need for biannual tire changes, which is both time-saving and cost-effective. For urban drivers and commercial fleets alike, reducing downtime from seasonal tire replacements directly translates to operational efficiency.

Key Market Players

• Bridgestone Corporation
• Continental AG
• Goodyear Tire & Rubber Company
• Sumitomo Rubber Industries Ltd
• Michelin Group
• Pirelli & C. S.p.A.
• Yokohama Rubber Company Limited
• Kumho Tire Co. Inc.
• Toyo Tire Corporation
• Apollo Tyres Ltd.

Report Scope:

In this report, the South East Asia Tire Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

South East Asia Tire Market, By Vehicle Type:

• Passenger Car
• Light Commercial Vehicle (LCV)
• Medium & Heavy Commercial Vehicles (M&HCV)
• Off-the-Road Vehicles (OTR)
• Two-Wheeler
• Three-Wheeler

South East Asia Tire Market, By Tire Construction:

• Radial
• Bias

South East Asia Tire Market, By Demand Category:

• OEM
• Replacement

South East Asia Tire Market, By Country:

• Indonesia
• Vietnam
• Thailand
• Malaysia
• Philippines
• Singapore
• Cambodia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the South East Asia Tire Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report.

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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