Taiwan Tyre Market Forecast and Opportunities, 2020
Summary
Taiwan has emerged as one of the most promising markets for automotive manufacturers with soaring domestic sales and exports over the past decade. Taiwan has one of the highest vehicle ownerships in the world, with 676 motorcycles for every thousand persons and 324 cars per thousand individuals in the country which is in turn driving the market for related products such as Tyres. In 2013, Taiwans tyre exports were more than the total domestic tyre sales, in volume terms, with passenger car tyre exports accounting for about 72% of the overall tyre export share. Though automobile exports have increased over the last five years, the growth in exports is limited owing to dependency of Taiwanese auto-manufacturers on Japanese auto-firms.
According to Taiwan Tyre Market Forecast & Opportunities, 2020, the countrys tyre market is forecast to increase at a CAGR of more than 4% during 2015-20. High vehicle ownership, increasing demand for better quality tyres and introduction of electric vehicles are expected to influence the countrys tyre market in the coming years. The motorcycle tyre market is the most dominant tyre segment, followed by passenger car tyre market, commercial vehicle tyre market and OTR tyre market. Moreover, the replacement tyre segment dominates the overall Taiwanese tyre market due to high motorization rate in the country. Cheng Shin Rubber (Maxxis), Kenda, Federal, and Nankang are among the leading companies operating in the tyre market of Taiwan. Taiwan Tyre Market Forecast & Opportunities, 2020 discusses the following aspects about the tyre market in Taiwan:
Taiwan Tyre Market Size, Share & Forecast
Segmental Analysis Passenger Car Tyres, Commercial Vehicle Tyres, Motorcycle Tyres & OTR Tyres
Policy and Regulatory Landscape
Changing Market Trends & Emerging Opportunities
Competitive Landscape & Strategic Recommendations
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