Increasing automobile fleet coupled with rising investments in tire manufacturing by government to aid growth of Thailand tire market through 2023
According to TechSci Research report, “Thailand Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias, By Rim Size, By Price Segment, Competition Forecast & Opportunities, 2013 - 2023”, Thailand tire market is projected to cross $ 3 billion by 2023 on account of increasing vehicle fleet in the country. Moreover, production of automobiles is rising in Thailand, which is further pushing demand for tires from the OEM segment in the country. The rising presence of various leading tire players such as Bridgestone Sales (Thailand) Co. Ltd, Michelin Thailand, Sumitomo Corporation Thailand, Deestone Group, Goodyear (Thailand), etc., and their continuing operations in the country’s tire industry are further anticipated to intensify competition in Thailand Tire market over the next five years.
Browse 77 market data Figures and Tables spread through 115 Pages and an in-depth TOC on "Thailand Tire Market"
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In 2017, two-wheeler tire segment dominated Thailand tire market with more than one-third value share, and the segment is expected to maintain its dominance during forecast period as well on the back of rising demand for two-wheelers due to climatic conditions of Thailand, rising per capita income of Thailand and penetration of electric two-wheelers. Among regions, Northern region of Thailand is the major demand generator owing to the region’s high population. Additionally, government of Thailand along with major tire companies are making investments to increase tire production in the country, thereby further fuelling growth in the market.
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“Easy availability of raw material for manufacturing tires is attracting manufacturers to set up plants in Thailand, which is fuelling growth in tire market across the country. Moreover, rising inclination towards electric vehicles and expanding tire distribution network are further likely to steer growth in Thailand tire market over the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Thailand Tire Market By Vehicle Type, By Demand Category, By Radial Vs Bias, By Rim Size, By Price Segment, Competition Forecast & Opportunities, 2013 - 2023” has analyzed the potential of tire market across Thailand and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Thailand tire market.
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