LONDON, Dec. 14, 2016 /PRNewswire/ -- Asia-Pacific is emerging as a hub for production of automobiles, with the automotive sector accounting for the largest private sector investment in research and development (R&D) in the region. During 2011-2015, demand for tires in the region grew on account growing automobile sales, expanding vehicle fleet size and increasing GNI per capita. Presence of major automotive OEMs such as Ford, Hyundai, Honda, Mahindra, Maruti Suzuki, TATA, BMW, etc., is propelling OEM tire demand in Asia-Pacific. Nevertheless, replacement segment continues to dominate demand for tires in the region due to continuing expansion of automobile fleet in Asia-Pacific.
According to "Asia-Pacific Tire Market Forecast and Opportunities, 2021", Asia-Pacific tire market is projected to grow at a CAGR of over 8% during 2016-2021, driven by rising tire demand from OEM as well as replacement segments. Passenger car and two-wheeler tire segments dominated tire demand in the region and the segments are anticipated to continue dominating tire demand in the country through 2021. Few of the leading global tire companies operating in Asia-Pacific tire market include Goodyear, Bridgestone, MRF, CEAT, Yokohama, Kumho, Hangzhou Zhongce, etc. "Asia-Pacific Tire Market Forecast and Opportunities, 2021" report elaborates following aspects of tire market in Asia-Pacific:
- Asia-Pacific Tire Market Size, Share & Forecast
- Segmental Analysis – By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicle, Off-The-Road (OTR) and Two-Wheeler Tires), By Demand Category (OEM Vs Replacement), By Radial Vs Bias
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tire market in APAC
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tire companies and other stakeholders to align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the rese
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with vehicle manufactures, tire companies, distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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