The most recent study on the Asia Aftermarket Passenger Car Tire market from Markntel Advisors provides extensive, in-depth analysis of current trends, opportunities, high growth areas, and market drivers. This information may be used by stakeholders to develop and align market strategies with the dynamics of the market going forward. Based on data from elite players, readers and competitors will be able to make money using this profitable guidance. The overall analysis covers an overview of the industry policies, market fluctuations, and the cost structure of the products available in the market.
This report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.
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Competitive and Geographical Analysis
The research covers competitors’ Company Profile, Main Business Information, SWOT Analysis, Sales, Revenue, Price and Gross Margin, and Market Share. Intending to reveal the competitive situation of the industry, the report concretely analyzes not only the leading enterprises that have a voice on a worldwide scale but also the regional small and medium-sized companies that play vital roles and have plenty of potential growth. The major players, among whom the Asia Aftermarket Passenger Car Tire market fluctuates, are
-Bridgestone
-Sumitomo Tyre
-Michelin
-The Goodyear Tire Rubber Manufacturing Company
-Hankook Tire
-Continental
-Apollo Tyres Limited
-Pirelli
-MRF Ltd.
-Others
Under Regional Inspection, from a geographic segmentation perspective, the report focuses on regions with material and significant effects on market dynamics. Therefore, the broad coverage of the report includes the regions and key countries. Asia Aftermarket Passenger Car Tire market expands across
-China
-India
-Japan
-South Korea
-Indonesia
-GCC
-Rest of Asia
With a business objective, the report details the key takeaway necessary to formulate business strategies like:
-New product launches
-New client acquisitions
-New opportunity mapping (market level and geography level)
-Competitive benchmarking
-Cost optimization strategies
-Expansion plans and more
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Key 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.
Market Segmentation
The distinct diversification and articulations of the industry are classified into further segments so the stakeholder can obtain detailed information about factors affecting the market along with various factors affecting the elements which lead to fluctuations in the market. These factors include sales, environmental issues, production issues, demands, and developments affecting each segment which would further influence the market. Segment-wise, Asia Aftermarket Passenger Car Tire Market spreads across the following:
Market Segmented into, By Vehicle Type
-Hatchback
-Sedan
-SUV
Market Segmented into, By Tire Type
-Radial
-Bias
Market Segmented into, By Rim Size
-Up to 12”
-12.1” to 15”
-15.1” to 18”
Market Segmented into, By Price Category
-Budget
-Economy
-Premium
Market Segmented into, By Sales Channel
-Online
-Exclusive Outlets
-Multi Brand Outlets
Market Segmented into, By Season
-Summer
-Winter
-All-Season
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