Market Research Report
Malaysia Tire Market, By Vehicle Type, By Demand Category, By Radial vs. Bias, By Company, Competition Forecast & Opportunities, 2016-2026
|Published by||TechSci Research||Product code||998652|
|Published||Content info||119 Pages
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|Malaysia Tire Market, By Vehicle Type, By Demand Category, By Radial vs. Bias, By Company, Competition Forecast & Opportunities, 2016-2026|
|Published: April 1, 2021||Content info: 119 Pages||
Malaysia Tire Market, By Vehicle Type (Passenger Car, Two-Wheeler, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles & OTR Vehicles), By Demand Category (OEM vs. Replacement), By Radial vs. Bias, By Company, Competition Forecast & Opportunities, 2016-2026.
Malaysia tire market stood at around USD1.19 billion in 2020 and is expected to register growth with a CAGR of around 5.86% by value terms in the forecast period. Passenger car demand is increasing owing to its usage for daily commutation and due to that vehicle fleet of the country is increasing, consequently, driving the Malaysia tire market. Moreover, increasing per capita spending of the people is also resulting in the upgradation of vehicles and hence inducing demand for technologically advanced replacement tires in the country. Continuous business expansion of the worlds' leading tire companies in the country by increasing their product portfolio and customer outreach through more dealer addition is anticipated to intensify the competition in the Malaysia tire market over the course of the next five years.
Malaysia tire market can be segmented based on vehicle type, by demand category, by company and by region. In terms of vehicle type, the market is segmented into passenger cars, two-wheelers, light commercial vehicles, medium & heavy commercial vehicles & OTR vehicles. Passenger car tires dominated the overall Malaysia tire market in 2020. On the basis of demand category, the replacement market is dominating the Malaysia tire market as compared to OEM category. In terms of regional share, the market is segmented into East Malaysia and West Malaysia. As of 2020, East Malaysia dominated the country's tire market owing to better presence of dealers and distributors of automotive tires. In terms of radial vs bias, the market share of radial tires is dominating the Malaysia tire market and the trend is expected to continue in the near future.
Goodyear Malaysia Berhad, Michelin Malaysia Sdn. Bhd, Continental Tyre Malaysia Sdn Bhd, Bridgestone Tyre Sales (Malaysia) Sdn. Bhd, Hankook Tire Malaysia Sdn. Bhd., Toyo Tyre Malaysia Sdn. Bhd. Maxxis Tires Malaysia., etc. are some of the leading players operating in the Malaysia tire market. Apart from the flagship companies, many Chinese players are also increasing their footprint in the Malaysia tire market by pushing their low-cost products blended with ease of availability.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of tire dealers and distributors in Malaysia. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include vendors and service providers that could not be identified due to the limitations of secondary research. TechSci Research analysed product offerings, application, distribution channel and regional presence of all the tire distributors and dealers across the country.
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 for the Malaysia tire market research by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the Malaysia tire market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Medium & Heavy Commercial Vehicles
Light Commercial Vehicles
Company Profiles: Detailed analysis of the major companies present in the Malaysia tire market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Profit Margin Analysis: