The Southeast Asia Truck and Bus Tire Market is estimated to grow at a CAGR of around 6.7% during the forecast period, i.e., 2024-30.
Southeast Asia Truck and Bus Tire Market Driver:
Growing Adoption of Electric Buses & Trucks – There is a growing awareness of environmental issues such as air pollution and climate change in Southeast Asia. As a result, consumers, businesses, and governments are increasingly seeking ways to reduce their carbon footprint and mitigate the impact of transportation-related emissions. Further, Governments in the region are implementing stricter emissions regulations and fuel efficiency standards to address environmental concerns. These regulations incentivize the adoption of cleaner vehicles by imposing penalties on high-emission vehicles and providing incentives for the purchase of electric and hybrid vehicles. For instance:
- In 2024, Thailand’s National Electric Vehicle Policy Committee (EV Board), approved incentives to encourage companies for electric trucks and buses adoption.
Consequently, the rising environmental consciousness and governmental backing for eco-friendly transportation are fueling the expanding uptake of electric buses and trucks in the region, stimulating demand for tire replacements.
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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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Southeast Asia Truck and Bus Tire Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Vehicle Type
- Bus- Market Size & Forecast 2019-2030, Thousand Units
- Truck- Market Size & Forecast 2019-2030, Thousand Units
- By Demand Type
- OEMs- Market Size & Forecast 2019-2030, Thousand Units
- Replacement- Market Size & Forecast 2019-2030, Thousand Units
- By Price Category
- Budget – Market Size & Forecast 2019-2030, Thousand Units
- Economy- Market Size & Forecast 2019-2030, Thousand Units
- Premium-Market Size & Forecast 2019-2030, Thousand Units
- By Tire Type
- Radial-Market Size & Forecast 2019-2030, Thousand Units
- Bias-Market Size & Forecast 2019-2030, Thousand Units
- By Sales Channel
- Online- Market Size & Forecast 2019-2030, Thousand Units
- Multi Brand Stores – Market Size & Forecast 2019-2030, Thousand Units
- Exclusive Outlets – Market Size & Forecast 2019-2030, Thousand Units
- Direct Sales- Market Size & Forecast 2019-2030, Thousand Units
- By Tire Size
- Tire Size 1 – Market Size & Forecast 2019-2030, Thousand Units
- Tire Size 2 – Market Size & Forecast 2019-2030, Thousand Units
- Tire Size 3- Market Size & Forecast 2019-2030, Thousand Units
- Tire Size 4- Market Size & Forecast 2019-2030, Thousand Units
- Tire Size 5- Market Size & Forecast 2019-2030, Thousand Units
- By Country
- Singapore
- Indonesia
- Malaysia
- Thailand
- Vietnam
- Rest of Southeast Asia
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Bridgestone Corporation, Goodyear Tire and Rubber Company, Michelin, Continental AG, Yokohama Rubber Co. Ltd., Pirelli Tyre S.p.A, Sumitomo Rubber Industries Ltd., Toyo Tire Corporation, Zhongce Rubber Group Co., Ltd., Sailun Group Co., Ltd., Kumho Tire, Kumho Tire, and Others
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