Australia Tire Market, By Vehicle Type, By Tire Construction Type, By Sales Channel, By Price Segment, By Region, Competition Forecast & Opportunities, 2026
発行: TechSci Research
ページ情報: 英文 119 Pages
Australia tire market was valued around USD2.04 billion in 2020 and is forecast to reach USD2.70 billion by 2026, growing at a CAGR of 4.19% by 2026 on account of growing fleet size of vehicles which in turn is driving the aftermarket tire sales in Australia. There is a visible rise in the demand for sports utility vehicles (SUVs) in Australia, thereby boosting the demand for SUV tires among the other passenger car segments in the country. As there is an increase in the number of people preferring personal modes of transportation for commuting, sales of passenger cars will keep on growing in the coming years, thereby urging the aftermarket demand for tires in Australia over the next five years. However, due to the imposed lockdown, following the COVID-19 outbreak, which resulted in economic instability in 2020, the sales of automobiles in the country dropped significantly. After the long and hugely negative effect of the COVID-19 lockdown, the tire market has again gained some pace in Australia. After a big drop in the production and sales in previous months, the production of vehicles has resumed, with sales also picking the pace, which is going to elevate demand for tires in the country.
The Australia tire market can be segmented based on vehicle type, tire construction type, sales channel, and region. On the basis of sales channel, offline sales of tires dominate the overall Australia tire market with more than 4/5th of the total market share. On the basis of vehicle type, passenger car tires are leading the Australia tire market with more than half of the total market, followed by LCV, M&HCV, Two-Wheeler and OTR. In the forecast period also, it is expected that passenger car tires will acquire significant share than any other, but two-wheeler tires will increase at a higher CAGR in comparison to other vehicle types. On the basis of tire construction type, radial tires dominated Australia tire market over bias tire with more than 75% share in 2020. This is mainly due to high demand for passenger cars and the escalating fleet of passenger cars, and it has been expected that it will dominate the market in upcoming years also.
Major players operating in the Australia tire market are Bridgestone Australia LTD, Goodyear & Dunlop Tires (Aust) Pty Ltd, Yokohama Tire Australia Pty Ltd, Michelin Australia Pty. Ltd, Kumho Tyre Australia Pty Ltd. Key players are developing advanced technologies and introducing new products to stay competitive in the market. Other competitive strategies include unification and accretion and new product developments. Players operating in the market are improving R&D potentiality while enhancing operational efficiency to register constructive growth.
Years considered for this report:
Historical Period: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across Australia. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across Australia.
TechSci Research calculated the market size of Australia Tire Market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Australia tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
New South Wales
Australian Capital Territory
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: