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Asia-Pacific Tire Aftermarket, Tire Replacement Market 2022-2028

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    Report

  • 125 Pages
  • January 2023
  • Region: Asia Pacific
  • Triton Market Research
  • ID: 5715294

Advancements in the automotive sector elevate the tire aftermarket, tire replacement market’s growth

MARKET OUTLOOK

The publisher's research report indicates that the Asia-Pacific tire aftermarket, tire replacement market is deemed to showcase a CAGR of 5.09% during the forecasting years 2022-2028. India, Australia & New Zealand, Japan, ASEAN countries, China, South Korea, and Rest of Asia-Pacific are considered in the region.

Japan is the third-largest economy globally, witnessing significant growth across industries. The nation's automobile industry has grown tremendously in recent years, with over sixteen major manufacturers expanding operations. In this regard, Toyota, Honda, Nissan, Suzuki, and Kawasaki are among the major automotive companies thriving in the country. Factors such as heavy R&D expenditure by these companies have elevated the demand for tire replacement and aftermarket, widening the scope of the reviewed market over the forecast period.

Similarly, South Korea's automotive industry is among the key sectors contributing significantly to the economy. Moreover, the growing product advancements by automotive companies have increased the need for tire services in recent years. For instance, in 2022, Hyundai Motor Co announced to invest in ramping up facilities for electric cars after it posted robust revenue growth the previous year. Therefore, all these factors are anticipated to drive the tire aftermarket, tire replacement market.

COMPETITIVE OUTLOOK

The well-known companies in the tire aftermarket, tire replacement market include Michelin, Bridgestone Corporation, Goodyear Tires, Toyo Tires, and Sumitomo Rubber Industries Ltd.

Table of Contents

1. Asia-Pacific Tire Aftermarket, Tire Replacement Market - Summary

2. Industry Outlook
2.1. Key Insights
2.1.1. Growing Inclination Toward the Development of Airless Tires
2.1.2. Tire Customization and Personalization Accelerate Market Expansion
2.2. Impact of Covid-19 on the Tire Aftermarket, Tire Replacement Market
2.3. Porter's Five Forces Analysis
2.3.1. Threat of New Entrants
2.3.2. Threat of Substitutes
2.3.3. Bargaining Power of Buyers
2.3.4. Bargaining Power of Suppliers
2.3.5. Threat of Competitive Rivalry
2.4. Market Attractiveness Index
2.5. Vendor Scorecard
2.6. Key Market Strategies
2.6.1. Mergers & Acquisitions
2.6.2. Product Launches & Developments
2.6.3. Partnerships
2.6.4. Business Expansions & Divestitures
2.7. Market Drivers
2.7.1. Spike in Demand for Fuel-Efficient Tires
2.7.2. Mandatory Tire Labeling Norms
2.8. Market Challenge
2.8.1. Uncertainty in the Pricing of Automotive Raw Materials
2.9. Market Opportunity
2.9.1. Electric Vehicle Tire Replacement is a Lucrative Segment

3. Asia-Pacific Tire Aftermarket, Tire Replacement Market - by Tire Type
3.1. Radial Tire
3.2. Bias Tire

4. Asia-Pacific Tire Aftermarket, Tire Replacement Market - by Rim Size
4.1. 13-15 Inches
4.2. 16-18 Inches
4.3. 19-21 Inches
4.4. More Than 21 Inches

5. Asia-Pacific Tire Aftermarket, Tire Replacement Market - by Distribution Channel
5.1. Original Equipment Supplier (Oes)
5.2. Independent Aftermarket (Iam)

6. Asia-Pacific Tire Aftermarket, Tire Replacement Market - Country Outlook
6.1. China
6.2. Japan
6.3. India
6.4. South Korea
6.5. Asean Countries
6.6. Australia & New Zealand
6.7. Rest of Asia-Pacific

7. Competitive Landscape
7.1. Michelin
7.2. Bridgestone Corporation
7.3. Continental AG
7.4. Goodyear Tires
7.5. Pirelli & C Spa
7.6. Sumitomo Rubber Industries Ltd
7.7. Toyo Tires
7.8. The Yokohama Rubber Co Ltd
7.9. Apollo Tyres
7.10. Mrf
7.11. Ceat Limited
7.12. Nexen Tire Corporation
7.13. Hankook Tire & Technology Co Ltd
7.14. Jk Tyre
7.15. Maxxis

8. Research Methodology & Scope
8.1. Research Scope & Deliverables
8.2. Sources of Data
8.3. Research Methodology

List of Tables
Table 1: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Country Outlook, 2022-2028 (In $ Billion)
Table 2: Vendor Scorecard
Table 3: Lists the Mergers & Acquisitions
Table 4: List of Product Launches & Developments
Table 5: List of Partnerships
Table 6: List of Investments
Table 7: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Country Outlook, 2022-2028 (In $ Billion)
Table 8: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Tire Type, 2022-2028 (In $ Billion)
Table 9: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Rim Size, 2022-2028 (In $ Billion)
Table 10: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Distribution Channel, 2022-2028 (In $ Billion)

List of Figures
Figure 1: Market Attractiveness Index
Figure 2: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Tire Type, 2021 & 2028 (In %)
Figure 3: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Radial Tire, 2022-2028 (In $ Billion)
Figure 4: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Bias Tire, 2022-2028 (In $ Billion)
Figure 5: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Rim Size, 2021 & 2028 (In %)
Figure 6: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by 13- 15 Inches, 2022-2028 (In $ Billion)
Figure 7: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by 16 -18 Inches, 2022-2028 (In $ Billion)
Figure 8: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by 19 -21 Inches, 2022-2028 (In $ Billion)
Figure 9: Asia-Pacific Tire Aftermarket, Tire Replacement Market, More Than 21 Inches, 2022-2028 (In $ Billion)
Figure 10: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Distribution Channel, 2021 & 2028 (In %)
Figure 11: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Original Equipment Supplier (Oes), 2022-2028 (In $ Billion)
Figure 12: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Independent Aftermarket (Iam), 2022-2028 (In $ Billion)
Figure 13: Asia-Pacific Tire Aftermarket, Tire Replacement Market, by Country Outlook, 2021 & 2028 (In %)
Figure 14: China Tire Aftermarket, Tire Replacement Market 2022-2028 (In $ Billion)
Figure 15: Japan Tire Aftermarket, Tire Replacement Market 2022-2028 (In $ Billion)
Figure 16: India Tire Aftermarket, Tire Replacement Market 2022-2028 (In $ Billion)
Figure 17: South Korea Tire Aftermarket, Tire Replacement Market 2022-2028 (In $ Billion)
Figure 18: Asean Countries Tire Aftermarket, Tire Replacement Market 2022-2028 (In $ Billion)
Figure 19: Australia & New Zealand Tire Aftermarket, Tire Replacement Market 2022-2028 (In $ Billion)
Figure 20: Rest of Asia-Pacific Tire Aftermarket, Tire Replacement Market 2022-2028 (In $ Billion)

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Michelin
  • Bridgestone Corporation
  • Continental AG
  • Goodyear Tires
  • Pirelli & C Spa
  • Sumitomo Rubber Industries Ltd
  • Toyo Tires
  • the Yokohama Rubber Co Ltd
  • Apollo Tyres
  • Mrf
  • Ceat Limited
  • Nexen Tire Corporation
  • Hankook Tire & Technology Co Ltd
  • Jk Tyre
  • Maxxis

Methodology

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