Southeast Asia Truck and Bus Tire Market Size, Share, Trends, Demand, Growth and Competitive Analysis 2030
The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of Southeast
Asia Truck and Bus Tire Market Industry (2024-2030):
According
to the latest report, the Southeast
Asia Truck and Bus Tire Market is estimated to grow at a CAGR of around 6.7%
during the forecast period, i.e., 2024-30. The
report demonstrates the prominent factors propelling the exponential growth of
the Southeast Asia Truck and Bus Tire Market.
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Key Takeaways: Beneficial for
Stakeholders and Clients
·
Historic Period: 2019-2022
·
Base year: 2023
·
Forecast Years: 2024-2030
·
CAGR (2025-30): 6.7%
What are the major Driver
the Southeast Asia
Truck and Bus Tire Market industry?
Growing Adoption of Electric Buses & Trucks – There is a growing
awareness of environmental issues such as air pollution and climate change in
Southeast Asia. As a result, consumers, businesses, and governments are
increasingly seeking ways to reduce their carbon footprint and mitigate the
impact of transportation-related emissions. Further, Governments in the region
are implementing stricter emissions regulations and fuel efficiency standards
to address environmental concerns. These regulations incentivize the adoption
of cleaner vehicles by imposing penalties on high-emission vehicles and
providing incentives for the purchase of electric and hybrid vehicles. For
instance:
- In 2024, Thailand's National Electric
Vehicle Policy Committee (EV Board), approved incentives to encourage
companies for electric trucks and buses adoption.
Consequently, the rising
environmental consciousness and governmental backing for eco-friendly
transportation are fueling the expanding uptake of electric buses and trucks in
the region, stimulating demand for tire replacements.
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Southeast Asia Truck and Bus Tire
Market Segmentation
The Southeast
Asia Truck and Bus Tire Market analysis of MarkNtel Advisors explores the
industry by emphasizing the growth parameters and categorizes including
geographical segmentation, to offer a comprehensive understanding of the market
dynamic. The further bifurcations are as follows:
·
By Vehicle Type
o
Bus- Market Size & Forecast 2019-2030, Thousand
Units
o
Truck- Market Size & Forecast 2019-2030,
Thousand Units
·
By Demand Type
o
OEMs- Market Size & Forecast 2019-2030,
Thousand Units
o
Replacement- Market Size & Forecast 2019-2030,
Thousand Units
·
By Price Category
o
Budget - Market Size & Forecast 2019-2030,
Thousand Units
o
Economy- Market Size & Forecast 2019-2030,
Thousand Units
o
Premium-Market Size & Forecast 2019-2030,
Thousand Units
·
By Tire Type
o
Radial-Market Size & Forecast 2019-2030,
Thousand Units
o
Bias-Market Size & Forecast 2019-2030, Thousand
Units
·
By Sales Channel
o
Online- Market Size & Forecast 2019-2030,
Thousand Units
o
Multi Brand Stores - Market Size & Forecast
2019-2030, Thousand Units
o
Exclusive Outlets - Market Size & Forecast
2019-2030, Thousand Units
o
Direct Sales- Market Size & Forecast 2019-2030,
Thousand Units
·
By Tire Size
o
Tire Size 1 - Market Size & Forecast 2019-2030,
Thousand Units
o
Tire Size 2 - Market Size & Forecast 2019-2030,
Thousand Units
o
Tire Size 3- Market Size & Forecast 2019-2030,
Thousand Units
o
Tire Size 4- Market Size & Forecast 2019-2030,
Thousand Units
o
Tire Size 5- Market Size & Forecast 2019-2030,
Thousand Units
·
By Country
o
Singapore
o
Indonesia
o
Malaysia
o
Thailand
o
Vietnam
o Rest of Southeast Asia
As per the regional aspect, the Southeast Asia Truck and Bus Tire Market is expected to be dominated by Singapore by capturing the potential market share.
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Top
Companies in the Southeast Asia Truck and Bus Tire Market
Bridgestone Corporation, Goodyear
Tire and Rubber Company, Michelin, Continental AG, Yokohama Rubber Co. Ltd.,
Pirelli Tyre S.p.A, Sumitomo Rubber Industries Ltd., Toyo Tire Corporation,
Zhongce Rubber Group Co., Ltd., Sailun Group Co., Ltd., Kumho Tire, Kumho Tire,
and Others
Southeast
Asia Truck and Bus Tire Industry Recent Development:
- 2023: YOKOHAMA announced the
spin-off of the sales unit of its Vietnam tire production and sales
subsidiary, Yokohama Tyre Vietnam Inc. (YTVI), into a new dedicated sales
company named Yokohama Tyre Sales Vietnam Co., Ltd. (YTSV).
- 2022: Bridgestone, planned to start production of radio-tagged tires in 2024 for commercial vehicles like trucks and buses.
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Judgement: Our comprehensive Market research encompasses a wide spectrum of
activities, including precise market sizing, detailed segment analysis,
accurate demand forecasting, competitor identification, and meticulous pricing
trend monitoring.
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