Executive Summery
This report presents a detailed overview of the Asia Aftermarket Passenger Car Tire Market, highlighting key insights into its market size, share, and growth during the forecast period, i.e., 2022-27. It explores emerging trends, competitive dynamics, and the core drivers reshaping the industry. Backed by solid data and expert analysis, the study offers segment-wise insights and reliable forecasts to guide strategic decisions. With comprehensive market analysis and forward-looking perspectives, this report serves as a practical tool for stakeholders navigating change. Whether you're an investor, policymaker, or business leader, this research helps you stay ahead in the fast-evolving Asia Aftermarket Passenger Car Tire industry landscape.
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Asia Aftermarket Passenger Car Tire Market Statistics and Key Highlights
The Asia Aftermarket Passenger Car Tire Market is projected to grow at a CAGR of around 4.83% during the forecast period, 2022-27.
- Asia Aftermarket Passenger Car Tire market shows steady growth
- Market size expanding due to rising industry demand
- Competitive landscape driven by tech and innovation
- Detailed segment-wise and geography wise share analysis
- Forecast reveals strong trends shaping future outlook
Key Player- Emerging Asia Aftermarket Passenger Car Tire Companies
- Bridgestone
- Sumitomo Tyre
- Michelin
- The Goodyear Tire & Rubber Manufacturing Company
- Hankook Tire
- Continental
- Apollo Tyres Limited
- Pirelli
- MRF Ltd.
- Others
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Key Driver:
The countries in the Asian region, such as China, India, and Australia, have seen a significant increase in the sale of used cars during the historical period. The rising cost of new cars & customers' desire for imported luxury vehicles have fueled the region's used car market's growth. Furthermore, depending on the depreciation & condition of the car, used cars are generally offered to customers at much lower prices. Hence, the condition of the pre-installed tires, which need to be replaced by the supplier or owner, determines the need for aftermarket tires. For instance:
- According to statistics from the China Automobile Dealers Association (CADA), more than 17.58 million used cars were sold in China in 2021, which grew by approximately 22.62% from last year.
In addition, countries with the least car manufacturing companies, such as Bangladesh, New Zealand, Singapore, the Philippines, etc., have been the major importer of used cars from Japan & China. Hence, the expansion of the used cars market in Asian countries has led to the rise in demand for aftermarket tires in both exporting & importing countries.
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Asia Aftermarket Passenger Car Tire Market Segmentation
By Vehicle Type
- Hatchback
- Sedan
- SUV
By Tire Type
- Radial
- Bias
By Rim Size
- Up to 12”
- 1” to 15”
- 1” to 18”
By Price Category
- Budget
- Economy
- Premium
Among them, the Economy Price Category held a considerable share in the Asia Aftermarket Passenger Car Tire market during the historical period, as the majority of the population in Asia is middle-class & budget-conscious.
By Sales Channel
- Online
- Exclusive Outlets
- Multi Brand Outlets
By Season
- Summer
- Winter
- All-Season
By Country
- China
- India
- Japan
- South Korea
- Indonesia
- GCC
- Rest of Asia
Of all the countries, China witnessed robust growth in recent years, owing to the rising demand for passenger cars, which led manufacturers to enhance the production of vehicles, thereby developing the tire market significantly.
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