Market Overview:

The Asia Pacific tire market size reached 1,200 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 1,550 Million Units by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.

Increasing demand for vehicles, growing replacement demand, declining prices of rubber and increasing production in the region represent some of the key factors contributing to the growth of the Asia Pacific tire industry. Furthermore, rising demand for secondhand vehicles in countries such as India, China, Indonesia, Malaysia, etc., is expected to drive the market for the replacement tire industry. Additionally, increasing investment towards infrastructure projects such as roads, bridges, and tunnels, have been able to increase the connectivity across the Asia Pacific region, this is also catalyzing the demand for tires across the region.

The increasing demand for tires in the Asia Pacific region is also being driven by the increasing automobile production along with the expanding fleet size. In addition to this, the rising consumer living standards supported by their growing disposable income levels have also boosted automobile sales, thereby propelling the demand for tires in the region. Furthermore, the increasing usage of both light and heavy commercial vehicles in logistics and construction activities has also augmented the market growth. Additionally, the growing popularity of next-generation and high-performance tires for luxury and premium cars is also driving the market growth. Apart from this, the increasing demand for replacement tires owing to the large consumer base of passenger cars and the high replacement rate of tires after certain usage limit, is further bolstering the demand of tires in the region.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific tire market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on radial/bias tires, end-use, vehicle type, size and distribution channel.

Breakup by Radial/Bias Tires:

• Radial
• Bias

Breakup by End-Use:

• OEM
• Replacement

Breakup by Vehicle Type:

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two-Wheelers
• Off-The-Road (OTR)
• Three- Wheelers

Breakup by Size:

• Passenger Cars
  • Market Breakup by Rim Size
  • Market Breakup by Tire Size
  • Market Breakup by Price Range
• Light Commercial Vehicles
  • Market Breakup by Rim Size
  • Market Breakup by Tire Size
  • Market Breakup by Price Range
• Medium and Heavy Commercial Vehicles
  • Market Breakup by Rim Size
  • Market Breakup by Tire Size
  • Market Breakup by Price Range
• Two-Wheelers
  • Market Breakup by Rim Size
  • Market Breakup by Tire Size
  • Market Breakup by Price Range
• Three- Wheelers
  • Market Breakup by Rim Size
  • Market Breakup by Tire Size
  • Market Breakup by Price Range
• Off-The-Road (OTR) 
  • Market Breakup by Rim Size
  • Market Breakup by Tire Size
  • Market Breakup by Price Range

Breakup by Distribution Channel:

• Offline
• Online

Breakup by Country:

• China 
• India
• Japan
• Australia
• South Korea
• Thailand
• Indonesia
• Malaysia
• Pakistan
• Others

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Michelin, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Corporation, Pirelli C. S.p.A., Yokohama Tire Corporation, Hankook Tire & Technology Co., Ltd., Toyo Tire Corporation, Kumho Tire Co., Ltd., etc.

Report Coverage: