Asia Pacific Automotive Tire Aftermarket Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Tire Type (Radial Tire and Bias Tire), Distribution Channel (OES and IAM), and Rim Size (13–15, 16–18, 19–21, and More than 21)
The automotive tire aftermarket market in Asia Pacific is expected to grow from US$ 38,093.45 million in 2021 to US$ 63,097.15 million by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028.
China, India, South Korea, Japan, and Australia are among the key economies in APAC. The rising engagement of original equipment suppliers in aftermarket activities and the consolidation of parts distributors indicate that this company has a bright future. Because of the expanding middle-class population and increased buying power, vehicle sales are rising, presenting opportunities for aftermarket parts manufacturers and supply chain suppliers due to aging vehicle fleets and the increased need for replacement components. The growing production and use of automobiles in India, China, Japan, South Korea, Australia, and Southeast Asia will help boost demand. Various accessories, lubricants, tires, and other component replacement providers make up the aftermarket replacement part vendors. In addition, service enablers, such as repairing services providers and entertainment service providers, are part of the industrial value chain. The APAC automotive sector is seeing a surge in demand for hybrid electric vehicles, which will decrease the demand for exhaust components and specialist equipment for these specialty vehicles. For many reasons, electric vehicles require specific tires. According to the vehicle manufacturer, its tire must have greater weight than internal combustion cars and transmit more torque to the road when driving after a halt. Tire noise is more noticeable in electric cars than in internal combustion vehicles because of their near-silent powertrains, mainly hidden by engine noise. The introduction of electric vehicles and their significantly lower propulsion noise emission allow assessing tire-road noise with higher accuracy via cruise-by measurements, even at speeds where a combustion engine propulsion system would usually disturb the measurement results. The rolling resistance rating provided by the European Union tire label has been used as the primary selection criterion for potential tires for EVs. The second selection criterion represented the tire label rating for wet grip, whereas a lower rating implies a shorter braking distance. For instance, Pirelli, an Italian tire manufacturer, announced a new high load (HL) index tire that will debut on the upcoming Lucid Air sedan. This HL tire was designed specifically for electric cars and SUVs to support the heavier weight of batteries while maintaining a low rolling resistance. This will provide lucrative opportunities for the growth of the automotive tire aftermarket during the forecast period.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC automotive tire aftermarket market, which is expected to grow at a decent CAGR during the forecast period.
APAC Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
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APAC Automotive Tire Aftermarket Market Segmentation
The APAC automotive tire aftermarket market is segmented into tire type, distribution channel, rim size, and country. The APAC automotive tire aftermarket market, based on tire type, is bifurcated into radial and bias. The Radial segment held a larger market share in 2020. In terms of distribution channel, the APAC automotive tire aftermarket market is bifurcated into OES and IAM. The IAM segment held a larger market share in 2020. Based on rim size, the APAC automotive tire aftermarket market is segmented into 13–15, 16–18, 19–21, and more than 21. The 13–15 segment held the largest market share in 2020. Based on country, the APAC automotive tire aftermarket market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC.
Apollo Tires Ltd; Bridgestone Corporation; Continental AG; Michelin; NEXEN TIRE AMERICA INC; PIRELLI and C. S.P.A.; Sumitomo Rubber Industries, Ltd.; The Goodyear Tire and Rubber Company; Yokohama Rubber Co., Ltd; and ZHONGCE RUBBER GROUP CO. LTD. are among the leading companies in the APAC automotive tire aftermarket market.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Automotive Tire Aftermarket Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. APAC Automotive Tire Aftermarket Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Fuel-Efficient Tires
5.1.2 Strict Government Regulations Regarding Tire Labelling
5.2 Market Restraints
5.2.1 Inconsistent Raw Material Prices
5.3 Market Opportunities
5.3.1 Electric Vehicles Getting Popular
5.4 Future Trends
5.4.1 Surging Demand for Green Tires in Fleets
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Tire Aftermarket Market – APAC Analysis
6.1 APAC Automotive Tire Aftermarket Market Overview
6.2 APAC Automotive Tire Aftermarket Market Revenue Forecast and Analysis
7. APAC Automotive Tire Aftermarket Market Analysis – By Tire Type
7.1 Overview
7.2 APAC Automotive Tire Aftermarket Market, by Tire type (2020 And 2028)
7.3 Radial tire
7.3.1 Overview
7.3.2 Radial tire: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
7.4 Bias tire
7.4.1 Overview
7.4.2 Bias tire: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
8. APAC Automotive Tire Aftermarket Market Analysis – By Distribution Channel
8.1 Overview
8.2 APAC Automotive Tire Aftermarket Market, by Distribution channel (2020 and 2028)
8.3 OES
8.3.1 Overview
8.3.2 OES: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
8.4 IAM
8.4.1 Overview
8.4.2 IAM: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
9. APAC Automotive Tire Aftermarket Market Analysis – By Rim Size
9.1 Overview
9.2 APAC Automotive Tire Aftermarket Market, by Rim Size (2020 And 2028)
9.3- 15
9.3.1 Overview
9.3.2- 15: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
9.4-18
9.4.1 Overview
9.4.2-18: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
9.5-21
9.5.1 Overview
9.5.2-21: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
9.6 More than 21
9.6.1 Overview
9.6.2 More than 21: Automotive Tire Aftermarket Market Revenue and Forecast To 2028 (US$ Million)
10. APAC Automotive Tire Aftermarket Market – Country Analysis
10.1 Overview
10.1.1 APAC: Automotive Tire Aftermarket Market, by Key Country
10.1.1.1 Australia: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Australia: Automotive Tire Aftermarket Market, by Tire type
10.1.1.1.2 Australia: Automotive Tire Aftermarket Market, by Distribution channel
10.1.1.1.3 Australia: Automotive Tire Aftermarket Market, by Rim Size
10.1.1.2 China: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 China: Automotive Tire Aftermarket Market, by Tire type
10.1.1.2.2 China: Automotive Tire Aftermarket Market, by Distribution channel
10.1.1.2.3 China: Automotive Tire Aftermarket Market, by Rim Size
10.1.1.3 India: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: Automotive Tire Aftermarket Market, by Tire type
10.1.1.3.2 India: Automotive Tire Aftermarket Market, by Distribution channel
10.1.1.3.3 India: Automotive Tire Aftermarket Market, by Rim Size
10.1.1.4 Japan: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.4.1 Japan: Automotive Tire Aftermarket Market, by Tire type
10.1.1.4.2 Japan: Automotive Tire Aftermarket Market, by Distribution channel
10.1.1.4.3 Japan: Automotive Tire Aftermarket Market, by Rim Size
10.1.1.5 South Korea: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.5.1 South Korea: Automotive Tire Aftermarket Market, by Tire type
10.1.1.5.2 South Korea: Automotive Tire Aftermarket Market, by Distribution channel
10.1.1.5.3 South Korea: Automotive Tire Aftermarket Market, by Rim Size
10.1.1.6 Rest of APAC: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of APAC: Automotive Tire Aftermarket Market, by Tire type
10.1.1.6.2 Rest of APAC: Automotive Tire Aftermarket Market, by Distribution channel
10.1.1.6.3 Rest of APAC: Automotive Tire Aftermarket Market, by Rim Size
11. Automotive Tire Aftermarket Market-Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Development
12. Automotive Tire Aftermarket Market-Company Profiles
12.1 APOLLO TIRES LTD
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Continental AG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 PIRELLI AND C. S.P.A.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Sumitomo Rubber Industries, Ltd.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 THE GOODYEAR TIRE AND RUBBER COMPANY
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 YOKOHAMA RUBBER CO., LTD
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 ZHONGCE RUBBER GROUP CO. LTD.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 NEXEN TIRE AMERICA INC
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 BRIDGESTONE CORPORATION
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 MICHELIN
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Automotive Tire Aftermarket Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Australia: Automotive Tire Aftermarket Market, by Tire type– Revenue and Forecast to 2028 (US$ Million)
Table 4. Australia: Automotive Tire Aftermarket Market, by Distribution channel– Revenue and Forecast to 2028 (US$ Million)
Table 5. Australia: Automotive Tire Aftermarket Market, by Rim Size–Revenue and Forecast to 2028 (US$ Million)
Table 6. China: Automotive Tire Aftermarket Market, by Tire type– Revenue and Forecast to 2028 (US$ Million)
Table 7. China: Automotive Tire Aftermarket Market, by Distribution channel– Revenue and Forecast to 2028 (US$ Million)
Table 8. China: Automotive Tire Aftermarket Market, by Rim Size–Revenue and Forecast to 2028 (US$ Million)
Table 9. India: Automotive Tire Aftermarket Market, by Tire type– Revenue and Forecast to 2028 (US$ Million)
Table 10. India: Automotive Tire Aftermarket Market, by Distribution channel– Revenue and Forecast to 2028 (US$ Million)
Table 11. India: Automotive Tire Aftermarket Market, by Rim Size–Revenue and Forecast to 2028 (US$ Million)
Table 12. Japan: Automotive Tire Aftermarket Market, by Tire type– Revenue and Forecast to 2028 (US$ Million)
Table 13. Japan: Automotive Tire Aftermarket Market, by Distribution channel– Revenue and Forecast to 2028 (US$ Million)
Table 14. Japan: Automotive Tire Aftermarket Market, by Rim Size–Revenue and Forecast to 2028 (US$ Million)
Table 15. South Korea: Automotive Tire Aftermarket Market, by Tire type– Revenue and Forecast to 2028 (US$ Million)
Table 16. South Korea: Automotive Tire Aftermarket Market, by Distribution channel– Revenue and Forecast to 2028 (US$ Million)
Table 17. South Korea: Automotive Tire Aftermarket Market, by Rim Size–Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of APAC: Automotive Tire Aftermarket Market, by Tire type– Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of APAC: Automotive Tire Aftermarket Market, by Distribution channel– Revenue and Forecast to 2028 (US$ Million)
Table 20. Rest of APAC: Automotive Tire Aftermarket Market, by Rim Size–Revenue and Forecast to 2028 (US$ Million)
Table 21. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Automotive Tire Aftermarket Market Segmentation
Figure 2. APAC Automotive Tire Aftermarket Market Segmentation – By Country
Figure 3. APAC Automotive Tire Aftermarket Market Overview
Figure 4. APAC Automotive Tire Aftermarket Market, by Tire type
Figure 5. APAC Automotive Tire Aftermarket Market, by Country
Figure 6. APAC: PEST Analysis
Figure 7. APAC Automotive Tire Aftermarket Market- Ecosystem Analysis
Figure 8. APAC Automotive Tire Aftermarket Market Impact Analysis of Drivers and Restraints
Figure 9. APAC Automotive Tire Aftermarket Market Revenue Forecast and Analysis (US$ Million)
Figure 10. APAC Automotive Tire Aftermarket Market, by Tire type (2020 And 2028)
Figure 11. APAC Radial tire: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Bias tire: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Automotive Tire Aftermarket Market, by Distribution channel (2020 and 2028)
Figure 14. APAC OES: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC IAM: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Automotive Tire Aftermarket Market, by Rim Size (2020 and 2028)
Figure 17. APAC 13- 15 Radial tire: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC 16-18: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC 19-21: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC More than 21: Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC: Automotive Tire Aftermarket Market, by Key Country – Revenue (2020) (US$ Million)
Figure 22. APAC: Automotive Tire Aftermarket Market Revenue Share, by Key Country (2020 and 2028)
Figure 23. Australia: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. China: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. India: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Japan: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. South Korea: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of APAC: Automotive Tire Aftermarket Market – Revenue and Forecast to 2028 (US$ Million)
- Apollo Tires Ltd
- Bridgestone Corporation
- Continental AG
- Michelin
- NEXEN TIRE AMERICA INC
- PIRELLI and C. S.P.A.
- Sumitomo Rubber Industries, Ltd.
- The Goodyear Tire and Rubber Company
- Yokohama Rubber Co., Ltd
- ZHONGCE RUBBER GROUP CO. LTD.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the APAC automotive tire aftermarket market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the APAC automotive tire aftermarket market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth APAC market trends and outlook coupled with the factors driving the automotive tire aftermarket market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution