Market Research Report
Malaysia Tire Market, By Vehicle Type, By Radial vs Bias, By Demand Category, By Price Segment, By Tire Size, By Rim Size, Competition, Forecast & Opportunities, 2025
|Published by||TechSci Research||Product code||942642|
|Published||Content info||74 Pages
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|Malaysia Tire Market, By Vehicle Type, By Radial vs Bias, By Demand Category, By Price Segment, By Tire Size, By Rim Size, Competition, Forecast & Opportunities, 2025|
|Published: June 1, 2020||Content info: 74 Pages||
Malaysia Tire Market, By Vehicle Type (Passenger Cars, Medium & Heavy Commercial Vehicles, Light Commercial Vehicles, Off the Road, Two-Wheeler), By Radial vs Bias, By Demand Category, By Price Segment, By Tire Size, By Rim Size, Competition, Forecast & Opportunities, 2025.
Malaysia tire market stood at around $ 1.20 billion in 2019 and is projected to reach $ 1.68 billion by 2025. With rising demand for sedans for personal use and SUVs for several sporting as well as off-roading activities, tire market in Malaysia is growing at a robust pace. Moreover, expanding vehicle fleet in the country with an increasing number of people buying more cars owing to rising standard of living in Malaysia is also boosting Malaysia tire market. Tire companies operating in Malaysia are launching performance-oriented tires to better suit different driving conditions, which is further anticipated to elevate the level of technological advancements in the country's tire market in the coming years.
Malaysia tire market can be segmented based on vehicle type, demand category, region, radial vs bias, price segment, and tire size. In terms of vehicle type, passenger car tire segment dominated the country's tire market, followed by the two-wheeler tire segment in 2019, and the trend is expected to continue during the forecast period as well. In terms of demand category, replacement market dominates Malaysia tire market and the segment will continue to dominate the market over the next five years
In terms of regional share, the tire market is largely concentrated in the West Malaysia region owing to the region's large fleet of passenger cars, several sporting activities and large population.
Major companies operating in Malaysia Tire industry are: Michelin Malaysia Sdn Bhd., Continental Tyre PJ Malaysia Sdn Bhd, Goodyear Tire & Rubber company, Bridgestone Tyre sales (Malaysia) Sdn Bhd., Hankook Tire Co., Ltd., Pirelli Tyre S.p.A, Toyo Tire & Rubber Co., Ltd, etc. Tire companies are expanding their dealer/distributor network as well as expanding their product portfolios with high-performance tires to meet the requirements of different driving conditions. Chinese tire companies are continuously increasing their penetration and gaining ground due to their low prices and ease of availability.
To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of Tire dealers operating in the country. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels, and regional presence of all major Tire supplier across Malaysia.
TechSci Research calculated the market size for Malaysia Tire using a bottom-up technique, wherein manufacturers' volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as OICA, Malaysia Automotive Association (MAA), Economic Intelligence Unit (EIU), Company Websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tire manufacturers, distributors and dealers and to the end users. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Malaysia tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in Malaysia Tire Market.
With the given market data, TechSci Research offers customizations according the company's specific needs. The following customization options are available for the report: