DUBLIN, Mar. 26, 2014 /PRNewswire/ --Research and Markets (http://www.researchandmarkets.com/research/kzsx3v/south_korea_tyre) has announced the addition of the "South Korea Tyre Market Forecast & Opportunities, 2018" report to their offering.
South Korea is one of the fastest growing economies and is also one of the key investment markets for the automotive industry. Availability of cheap and skilled labor force equipped with the latest technology in the production of tyres and automobiles has made South Korea as one of the largest automotive manufacturing markets. South Korea is also one of the largest exporters of automobiles in the world. Major global auto companies such as Hyundai, KIA, GM and Renault have set up their production facilities for passenger cars and commercial vehicles in South Korea. South Korea is an export driven market as majority of the automobiles and tyres produced in the country are exported to North America, South America, Africa, Asia and Middle East. The increasing production of automobiles in the country is driving the demand for tyres. Metropolitan cities such as Seoul, Incheon city, Ulsan, Busan, Gyeonggi and South Gyeongsang Province are the key markets for tyre sales in the country.
According to South Korea Tyre Market Forecast & Opportunities, 2018, the tyre market in South Korea is expected to grow at the CAGR of 5% during 2013-2018 in terms of revenue sales. This can be attributed to the increase in demand for automobiles and tyres in the global market as well as domestic market. South Korea exports majority of its automobiles and tyres to other countries. The domestic market for tyres in South Korea is dominated by the passenger car segment. Hankook, Kumho and Nexen are the leading companies in South Korea, equipped with strong distribution network and OEM tie ups. South Korea has various trade agreements with different countries around the world including European Union and US, through which the automotive products including tyres, manufactured in the country are easily exported to these countries. The tyre market in South Korea is also likely to get benefited by the mandatory tyre labelling which would come into effect from November 2013. The tyre labelling emphasizes on the production of eco-friendly and fuel efficient tyres in South Korea.
Key Topics Covered:
1. Executive Summary
2. South Korea Tyre Market Outlook
3. South Korea Replacement Tyre Market Outlook
4. South Korea Passenger Car Tyre Market Outlook
5. South Korea Commercial Tyre Market Outlook
6. South Korea OTR Tyre Market Outlook
7. Raw Material Analysis
8. Tyre Trade Analysis
9. Market Dynamics
10. Policy & Regulatory Landscape
11. Market Trends & Developments
12. South Korea Economic Profile
13. Competitive Landscape
14. Strategic Recommendations
15. Research Methodology
- Bridgestone Tire Sales Korea
- Continental Automotive Korea Ltd.
- Goodyear Korea Co., Ltd.
- Hankook Tire Co.
- Kumho Tyre Co. Inc.
- Michelin Korea Co., Ltd
- Nexen Tyre Corporation
- Pirelli & C. SpA
- Yokohama Tire Korea Co. Ltd.
For more information visit http://www.researchandmarkets.com/research/kzsx3v/south_korea_tyre
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
SOURCE Research and Markets