South East Asia Tire Market, Competition, Forecast & Opportunities, 2016-2020 & 2021-2026 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “South East Asia Tire Market, By Vehicle Type, By Demand Category, By Radial vs. Bias, By Rim Size, By Tire Type, Competition, Forecast & Opportunities, 2016-2026” report has been added to ResearchAndMarkets.com’s offering.

The South East Asian Tire Market was valued USD9.54 Billion in 2020 and is forecast to grow at CAGR of 6.32% in the next five years.

Based on consumer spending behaviour across the South East Asian countries, consumers mostly prefer two-wheelers for their daily commuting purpose. Due to this, the sales of two-wheelers are increasing at a brisk pace which is fuelling the automotive fleet which in turn is boosting the demand for automotive replacement tires.

In addition to that, major automotive manufacturers are increasing the production of vehicles, especially two-wheelers across the region which is directly generating…