The Asia Aftermarket Passenger Car Tire Market size is projected to grow at a CAGR of around 4.83% during the forecast period, 2022-27. According to MarkNtel Advisors Study.

Asia Aftermarket Passenger Car Tire Market Driver:

Surging Demand for Used Cars Boosts the Requirement for Aftermarket Passenger Car Tire: 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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Key Market Reports Highlights

·        Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Asia Aftermarket Passenger Car Tire Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2021

-Historical Period: 2017 to 2020

-Forecast Period: 2022 to 2027

  • By Vehicle Type
    • Hatchback
    • Sedan
    • SUV
  • By Tire Type
    • Radial
    • Bias
  • By Rim Size
    • Up to 12”
    • 12.1” to 15”
    • 15.1” to 18”
  • By Price Category
    • Budget
    • Economy
    • Premium
  • 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

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including - Bridgestone, Sumitomo Tyre, Michelin, The Goodyear Tire & Rubber Manufacturing Company, Hankook Tire, Continental, Apollo TyresbLimited, Pirelli MRF Ltd., Others are looking forward to strengthening their market positions.

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