NEW YORK, Dec. 23, 2015 /PRNewswire/ -- Thailand has emerged as one of the most preferred destinations for automobile production for various leading global automotive players due to availability of cheap labor and geographical advantage of its location in the ASEAN (Association of Southeast Asian Nations) region. Thailand is the leading rubber producing country worldwide, and accounted for around one-third of the global rubber production in 2014. Major global automotive OEMs such as General Motors, Toyota, Honda, Mitsubishi, Honda, Isuzu, Ford, Nissan, etc., have established their manufacturing plants in Thailand, in order to address increasing domestic as well as global demand for automobiles, which in turn, has been surging demand for automotive tyres in the country. Thai automotive OEM companies cumulatively produced around 3 million light commercial vehicles and two-wheelers in 2014, thereby propelling demand for tyres from the OEM segment.
According to "Thailand Tyre Market Forecast & Opportunities, 2020", with increasing automobile production, domestic vehicle sales, abundant rubber availability and growth-oriented government initiatives, Thailand tyre market is expected to witness consistent growth over the next five years. Two-wheeler motorization rate is very high as compared to other vehicle segments in Thailand. Consequently, two-wheeler tyre segment is anticipated to continue its domination in the country's tyre market during the forecast period, in volume terms, followed by light commercial vehicle tyre segment. Thailand tyre market is majorly dominated by global players such as Bridgestone, Michelin and Goodyear, followed by Yokohoma, Sumitomo, Pirelli and Continental. However, other global players such as Toyo Tyres, Nokian, Apollo, Dunlop, Falken, etc., have also entered Thailand over the last few years, which has consequently increased competition among the tyre companies operating in the country. "Thailand Tyre Market Forecast & Opportunities, 2020" report elaborates following aspects of tyre market in Thailand:
- Thailand Tyre Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tyres, Medium and Heavy Commercial Tyres, Two-Wheeler Tyres, Off-The-Road (OTR) Tyres and Light Commercial Vehicle Tyres
- 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 tyre market in Thailand
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tyre 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 research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre 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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