London, 24 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the passenger car tires market in Thailand 2015-2019, which is projected to grow at a CAGR of 4.03% during 2014-2019.
The passenger car market in Thailand is growing primarily because of the rising sales and production of passenger cars, which is propelled by their demand in Thailand and across the emerging economies. The huge production and sales figures of the automobile industry in Thailand have significantly contributed to the demand for tires.
“RFID technologies have been in use for a long time and are used in a variety of applications ranging from tags in superstores, amusement park tickets, car rental services, and in the field of healthcare,” says Faisal Ghaus, Vice President of Technavio.
“Companies have started using RFID tags in their tires, which will assist them to track the tires throughout the supply chain.”
Key Market Drivers
- Availability of Natural Rubber in Abundance Attracting Investments by Tire Manufacturers
- Need for Replacement of Old and Damaged Tires
- Fall in Rubber Prices and its Impact on Tire Industry
- Low Crude Oil Prices Leading to Increased Miles Driven per Year, thereby having a Positive Impact on Tire
Key Market Trends
- Bio-oils Used in Tire Manufacturing
- RFID Tires
- Increased Online Tire Purchases
Key Market Vendors
- Apollo Tyres Ltd.
- Continental AG
- Cooper Tire & Rubber Co.
- Deestone Company Ltd.
- Goodyear (Thailand) Public Company Ltd.
- Kumho Tire Co. Inc.
- Maxxis International
- Michelin Siam Co. Ltd.
- Nokian Tyres Plc
- Pirelli & C. SpA
- PT Gajah Tunggal Tbk. (GT Radial)
- Sumitomo Rubber (Thailand) Co. Ltd.
- Thai Bridgestone Company Ltd.
- Toyo Tire & Rubber Co.
- Vee Rubber International Co., Ltd.
- Yokohama Rubber Co. Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
