Growing automobile fleet, increasing online tire sales and rapid industrialization to drive Australia tire market through 2024
According to TechSci Research report, “Australia
Tire Market By Vehicle Type, By Radial vs. Bias,
Competition Forecast & Opportunities, 2014 – 2024”, tire market in Australia is forecast to reach
over $ 4.4 billion by 2024 on account of expanding vehicle fleet, rising
infrastructure growth and increasing penetration of Chinese players. Growing
sales of tires through the online medium, rising tire radialization and burgeoning
demand for Tire Pressure Monitoring System (TPMS) are some of the other factors
that would positively influence the market during the forecast period. As automobile
manufacturers are pulling out from Australia owing to high operational costs in
the country, the tire market is expected to be solely dependent on replacement
tire demand from 2018 onwards.
Browse 10 market data
Tables and 48 Figures spread through114 Pages and an in-depth TOC on
Customers can also request for 10% free customization on this report.
the last few years, vehicle fleet in the country has been growing at a brisk
pace. Passenger car tire segment
dominated Australia tire market in 2018 and the segment is expected to continue
its market dominance in the coming years as well, owing to expanding passenger
car fleet. With rising industrialization and expanding logistics sector, demand
for medium & heavy commercial vehicles (M&HCVs) is likely to grow at a
robust pace, which in turn would drive the country’s tire market over the next
“Backed by technologically advanced manufacturing processes and increasing consumer confidence in purchasing retread tires for commercial and OTR vehicles, the retread tire segment is growing at a healthy pace in Australia. Additionally, growing presence of various companies such as Bridgestone, Pirelli, Goodyear & Dunlop, Kumho, Hankook, Michelin, etc., through their strong dealer and distribution networks, is expected to further intensify market competition in Australia tire market during the next five years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Market By Vehicle Type, By Radial vs. Bias, Competition Forecast &
Opportunities, 2014 – 2024” has
evaluated the future growth potential of tire market in Australia 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 the industry.