Tire market in Taiwan is projected to surpass USD1.2 billion by 2021, owing to rising production of automobiles and growing demand for tires from replacement tire segment in the country.
Taiwan is one of the most technologically advanced and innovation driven countries in the Asian continent. Total population of the country was recorded to be approximately 23 million in 2015, and has emerged as one of the fastest developing economies in the region.
However, demand for automobiles declined significantly in the country over the past few years, which caused a negative impact on the tire market in Taiwan. Over the last few years, major automobile manufacturers in Taiwan have also been increasing their focus on exports of automobiles to other countries. Moreover, presence of number of tire manufacturing companies in the country have further fueled tire exports over the past few years, wherein passenger car tire accounted for largest share in tire exports from Taiwan. Furthermore, increasing production of tires, coupled with rising sales of automobiles and growing demand for tires from the replacement tire segment are further expected to drive Taiwan tire market during the forecast period.
Taiwan tire market was dominated by two-wheeler tire segment over the past few years, and this segment is further expected to continue its dominance in the coming years as well, owing to expanding two-wheeler fleet size and rising sale of two-wheelers in Taiwan. Northern region is the highest demand generating region for tires in the country on account of presence of prominent cities like Taipei City, New Taipei City, Yilan County, Taoyuan County, Hsinchu County, Miaoli County, Keelung City and Hsinchu City in the region.
Taiwan Tire Market Forecast & Opportunities, 2011-2021 discusses the following aspects of the tire market in Taiwan:
Taiwan Tire Market Size, Share & Forecast
Segmental Analysis - By Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, and OTR), By Demand Category (OEM Vs Replacement)
Regional Analysis - Northern, Central, Southern, Island region
Policy & Regulatory Landscape
Changing Market Trends and Emerging Opportunities
Competitive Landscape and Strategic Recommendations
Market Trends & Developments
Growth in Retread Tire Market
Rising Demand for Intelligent Electric Vehicles
Recycling and Handling of Waste Tires
Decreasing Tire Exports
Growing Imports of Passenger Car &Two-Wheeler Tires