Malaysia Tire Market Size, Share, Trends, Demand, Growth and Competitive Analysis| MarkNtel

MarkNtel Advisors recently published a detailed industry analysis of the Malaysia Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Malaysia Tire Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2027

The Malaysia Tire Market is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2022-27.

What are the major Driver the Malaysia Tire industry?

Increasing Concerns for Vehicle Safety to Reduce Road Accidents: The rapidly increasing road accidents have instigated the Malaysian government to impose stringent norms for vehicle safety. It has encouraged tire companies to manufacture safer tires and promoted vehicle owners to inspect tire conditions periodically. As a result, it would generate growth opportunities for the leading players in the Malaysia Tire Market to enhance their product portfolio during 2022-27.

Rising Construction Projects & Surging Demand for Heavy Vehicles: While the country is actively developing the infrastructure, the number of construction projects is swiftly increasing and augmenting the demand for several heavy vehicles. As a result, the requirement for robust tires for better grip, exert weight & pressure, and function on changing terrains is also mounting significantly, which, in turn, would boost the market through 2027.

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What segments define the Malaysia Tire market from 2022 to 2027? How do these segments contribute to market dynamics and growth?

·       By Type of Vehicles

o   Passenger Car

o   Light Commercial Vehicle

o   Buses and Trucks

o   Medium and Heavy Commercial Vehicles

o   Off the Road (OTR)

o   Two Wheelers

o   Three Wheeler

According to report, Of all vehicle types, Passenger Cars dominated the Malaysia Tire Market in recent years, and the same trend is likely to be followed over the forecast period.

·       By Demand Category

o   OEM

o   Replacement

According to report, Here, OEMs (Original Equipment Manufacturers) acquired the largest share of the Malaysia Tire Market in recent years, owing principally to the robust presence of several prominent tire manufacturers & the growing establishment of OEMs to expand their foothold in Malaysia.

·       By Type of Tire

o   Radial

o   Bias

·       By Sales Channel

o   Dealer/Exclusive Outlets

o   Online

o   Direct Sales

·       By Season

o   All-season

o   Summer

·       By Price Category

o   Budget

o   Economy

o   Premium

·       By Rim Diameter

o   Upto 12”

o   12.1” to 15”

o   15.1.” to 18”

o   18.1” to 20”

o   20.1” to 22.5”

o   22.6” to 26”

o   26.1” to 35”

o   35.1” to 47”

o   Above 47”

Explore the Complete Malaysia Tire Market Analysis Report – https://www.marknteladvisors.com/research-library/malaysia-tire-market-analysis.html

Geographical Analysis: Malaysia Tire Market

o   East

o   Central

o   North

o   South

o   Sabah

o   Sarawak

Malaysia Tire Market Share & Competitive Landscape:

The Malaysia Tire Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry's leading companies, highlighting their strengths, financial performance, and market influence.

Leading Companies in the Malaysia Tire Market are:

·       Michelin

·       Bridgestone

·       Continental

·       Pirelli

·       Goodyear

·       Hankook

·       Toyo

·       Sumitomo

·       Giti

·       Friendship Rubber Industry

Malaysia Tire Industry Recent Development:

• In October 2021, leading tire manufacturing company, Michelin, announced the launch of a multi-purpose tire, LTX Trail in Malaysia, for on and off-road applications.
• The same year, in August, prominent tire manufacturer Bridgestone launched the latest generation of their ultra-high-performance line of tires called Potenza Sport & Potenza RS980AS+, enabling drivers to unlock the full potential of their vehicles.

Questions Addressed in this Study

1.What factors are driving the Malaysia Tire Market growth?

2.How is the Malaysia Tire Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Malaysia Tire Market?

4.What is the current size of the Malaysia Tire Market, and how is it projected to change in the future?

6.What is the future outlook for the Malaysia Tire Market in terms of technological advancements and market expansion?

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Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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