DUBLIN, Oct. 31, 2014 /PRNewswire/ -- Research and Markets has announced the addition of the "Malaysia Tyre Market Forecast and Opportunities, 2019" report to their offering.
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Malaysia is one of the most developed economies in Southeast Asia. The country has one of the highest number of vehicles per capita, globally. More than 50 automobile OEMs operate in Malaysia, ranging from local brands, such as Proton and Perodua to international brands like Toyota, Honda, Nissan, BMW and Land Rover among others.
Both these domestic and global players have established their manufacturing facilities in the country in order to address growing automobile demand within the country as well as internationally. In 2013, about 0.66 million units of commercial vehicles and passenger cars were sold in Malaysia. Over the past few years, sales of hybrid vehicles have also increased and is expected to grow in the future due to tax rebates offered by the government in order to promote such vehicles.
Malaysia has Free Trade Agreements (FTAs) with various other countries, including India, Japan, Pakistan, China, Australia and New Zealand, which has resulted in reduced import and excise duties on the import of vehicles, particularly hybrid cars and electric two-wheelers in the country. Rising demand for commercial vehicles, passenger cars as well as hybrid and other vehicles in Malaysia, coupled with favorable government policies and increasing foreign investments is expected to significantly boost tyre volume sales in the country.Goodyear, Continental Tyres, Michelin and Bridgestone are few leading players in the country's tyre market.
According to Malaysia Tyre Market Forecast & Opportunities, 2019, the tyre market in Malaysia is forecast to exhibit a CAGR of 9% during 2014-19. The passenger car tyre segment dominates the tyre market in Malaysia, having held a market share of about 65%, in volume terms, in the year 2013. The passenger car tyre segment is followed by the two-wheeler tyre, commercial vehicle tyre and OTR tyre segments in terms of volume share in the market.
The market for commercial vehicle tyres is forecast to grow at the fastest rate among all these four segments, supported by expanding commercial vehicle fleet and increasing replacement sales of commercial vehicle tyres in the country. The market for retread tyres in Malaysia is also projected to witness strong growth over the next five years due to high demand for retreaded tyres in commercial vehicles, such as trucks and buses.
Key Topics Covered:
1. Research Methodology
2. Market Overview
3. Analyst View
4. Malaysia Tyre Market Outlook & Forecast
5. Malaysia Passenger Car Tyre Market Outlook & Forecast
6. Malaysia Commercial Vehicle Tyre Market Outlook & Forecast
7. Malaysia Two-Wheeler Tyre Market Outlook & Forecast
8. Malaysia OTR Tyre Market Outlook & Forecast
9. Malaysia Retread Tyre Market Outlook & Forecast
10. Malaysia Tyre Market Raw Material Analysis
11. Malaysia Tyre Market Trade Analysis
12. Malaysia Tyre Market Dynamics
13. Policy & Regulatory Landscape
14. Malaysia Tyre Market Trends & Developments
15. Malaysia Economic Profile
16. Competitive Landscape
17. Strategic Recommendations
Companies Mentioned:
- Bridgestone Tyre Sales (Malaysia) Sdn Bhd
- Continental Tyre Malaysia Sdn Bhd
- Goodyear Rubber Industries Sdn Bhd
- Michelin Malaysia Sdn Bhd
- Pirelli Asia Pte Ltd - Malaysia
- Sumirubber Malaysia Sdn Bhd
- Toyo Tyre Manufacturing (Malaysia) Sdn Bhd
- YHI (Malaysia) Sdn Bhd
For more information visit http://www.researchandmarkets.com/research/bl3q5d/malaysia_tyre
Media Contact: Laura Wood, +353-1-481-1716, press@researchandmarkets.net
