APAC Tire Market to Grow at 8% CAGR, Expects TechSci Research in Its Report Available at MarketPublishers.com12 Dec 2016 • by Natalie Aster
LONDON – APAC represents an emerging hub for the automobile production. It automotive sector boasts the largest private sector in this region in terms of R&D activities.
The demand for tires was on the rise in this region on 2011-2015, and it was a result of the rise in automobile sales, rising GNI per capita and expansion in the vehicle fleet.
With the presence of leading automotive OEMs like Hyundai, BMW and Honda in this region also encourage growth of the local demand for tires. Yet the replacement segment leads the demand for tires in APAC given ongoing expansion of the automobile feet in the region.
Passenger cars and two-wheeler tires were the two largest segments in this marketplace. They are unlikely to be dethroned in the near term. The APAC market for tires to grow at a CAGR of more than 8% over the period 2016-2021.
Some of the tire companies dominating the APAC tire market comprise: Apollo Tyres, Bridgestone Corporation, Continental Aktiengesellschaft, and more.
In-demand research report “APAC Tire Market Forecast & Opportunities, 2021” worked out by TechSci Research offers comprehensive examination of the APAC market for tires. The study starts with a detailed market outlook.
It casts light on the performance of this marketplace across major countries like China, Japan, Indonesia, Thailand, Australia, and more. The report sheds light on dynamics of the APAC marketplace.
The research study investigates key trends and development of this market. It canvasses the competitive environment and focuses on leading companies. Future outlook for the local space and strategic recommendations are on hand in the research report, too.
- 360-degree view of the APAC marketplace;
- insights into the most recent trends and developments;
- investigation of country markets;
- discussion of the competitive situation;
- details on drivers and restrains of the marketplace;
- future outlook;
- and more.
More insightful reports by TechSci Research are available at its page.