Asia Aftermarket Passenger Car Tire Market Share, Size and Growth Estimate 2022-2027

Asia Aftermarket Passenger Car Tire Market Size, Analysis, Growth, Future, Trends Analysis 2022-2027

The "Asia Aftermarket Passenger Car Tire Market Analysis, 2027" is one of MarkNtel Advisors' most recent reports, and it provides a detail-driven examination of the industry's present and future scenarios, taking into account, among other things, market size, geographical shares, main rivals, challenges, opportunities, and threats.

What Size Is the Market for Asia Aftermarket Passenger Car Tire?

According to the study, the Asia Aftermarket Passenger Car Tire Market is set to register around 4.83% CAGR during 2022-27. With this report, our domain-specific experts & dedicated analysts aim to provide stakeholders with detailed insights into the constant fluctuations in the market growth trajectory and what to expect in the forecasted period, helping them thrive in the industry.

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What are the industry's growth prospects and drivers for Asia Aftermarket Passenger Car Tire?

Surging Demand for Used Cars Boosts the Requirement for Aftermarket Passenger Car Tire - The countries in the Asian region, such as China, India, and Australia, have seen a significant increase in the sale of used cars during the historical period. The rising cost of new cars & customers' desire for imported luxury vehicles have fueled the region's used car market's growth. Furthermore, depending on the depreciation & condition of the car, used cars are generally offered to customers at much lower prices. Hence, the condition of the pre-installed tires, which need to be replaced by the supplier or owner, determines the need for aftermarket tires. For instance:

According to statistics from the China Automobile Dealers Association (CADA), more than 17.58 million used cars were sold in China in 2021, which grew by approximately 22.62% from last year.

In addition, countries with the least car manufacturing companies, such as Bangladesh, New Zealand, Singapore, the Philippines, etc., have been the major importer of used cars from Japan & China. Hence, the expansion of the used cars market in Asian countries has led to the rise in demand for aftermarket tires in both exporting & importing countries.

Key Segments and Geographical Analysis of Asia Aftermarket Passenger Car Tire Market

This report's part aims to give stakeholders insights into fast-growing markets and assist them in developing winning business plans to stay competitive. Technical trends, downstream and upstream value chain analysis, Porter's five forces analysis, and market forecasts for specific areas and nations are some of the key factors taken into account. Following is a segmentation of the Asia Aftermarket Passenger Car Tire Market:

By Vehicle Type

Hatchback
Sedan
SUV

By Tire Type

Radial
Bias

By Rim Size

Up to 12”
12.1” to 15”
15.1” to 18”

By Price Category

Budget
Economy
Premium

By Sales Channel

Online
Exclusive Outlets
Multi Brand Outlets

By Season

Summer
Winter
All-Season

Geographically, the Asia Aftermarket Passenger Car Tire Market encompasses the following countries:

- China

- India

- Japan

- South Korea

- Indonesia

- GCC

- Rest of Asia

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Competitive Landscape of Asia Aftermarket Passenger Car Tire Industry:

In this section, the authors of the report conduct a comprehensive analysis of major companies operating in the Asia Aftermarket Passenger Car Tire Market. They discuss the companies' strategies, latest developments, expansion plans, product and service portfolios, mergers and acquisitions, as well as opportunities for increasing profit margins. The report highlights the following prominent Asia Aftermarket Passenger Car Tire companies:

- Bridgestone

- Sumitomo Tyre

- Michelin

- The Goodyear Tire & Rubber Manufacturing Company

- Hankook Tire

- Continental

- Apollo Tyres Limited

- Pirelli

- MRF Ltd.

- Others

We vigilant in monitoring market trends and the industry's response geographically. We also provide estimates of the latest market trends and forecasts, taking into account the potential impact of the market.

Note: We also offer customized reports tailored to the specific requirements of our clients, which incorporate reliable insights into the market dynamics in a particular segment, geographic location, or a competitor.

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