Malaysia Tire Market Overview
As per recent research by MarkNtel Advisors, the Malaysia Tire Market is projected to grow at a CAGR of around 4.5% during the forecast period, i.e., 2022-27.
Malaysia Tire Market Dynamics
Market Drivers : Increasing Concerns for Vehicle Safety to Reduce Road Accidents
The rapidly increasing road accidents have instigated the Malaysian government to impose stringent norms for vehicle safety. It has encouraged tire companies to manufacture safer tires and promoted vehicle owners to inspect tire conditions periodically. As a result, it would generate growth opportunities for the leading players in the Malaysia Tire Market to enhance their product portfolio during 2022-27.
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Malaysia Tire Market Segmentation Overview 2022-2027: Key Factors
By Type of Vehicles
-Passenger Car
-Light Commercial Vehicle
-Buses and Trucks
-Medium and Heavy Commercial Vehicles
-Off the Road (OTR)
-Two Wheelers
-Three Wheeler
By Demand Category
- OEM
-Replacement
By Type of Tire
-Radial
-Bias
By Sales Channel
-Dealer/Exclusive Outlets
-Online
-Direct Sales
By Season
-All-season
-Summer
By Price Category
-Budget
-Economy
-Premium
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Malaysia Tire Market Geographical Insights:
By Region:
-East
-Central
-North
-South
-Sabah
-Sarawak
Key Players and Competitive Strategies in the Malaysia Tire Market
Several prominent players dominate the Malaysia Tire Market, including:
- Michelin
- Bridgestone
- Continental
- Pirelli
- Goodyear
- Hankook
- Toyo
- Sumitomo
- Giti
- Friendship Rubber Industry
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Questions Addressed in this Study
1.How big is the Malaysia Tire Market Size?
2.What is the Malaysia Tire Market Growth?
3.Who are the key players of the Malaysia Tire Market?
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