Australia Tire Market: Expanding at a CAGR of more than 4% during 2022-2027

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Australia Tire Market: Expanding at a CAGR of more than 4% during 2022-2027

Market Insights

As per recent research by MarkNtel Advisors, The Australia Tire Market is projected to grow at a CAGR of around 4%  during the forecast period, i.e., 2022-27.

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Key Driver: Increasing Construction Activities

Since the government of Australia is increasingly focusing on the development of the country's infrastructure, the number of construction projects for roads, highways, complexes, residential & commercial buildings, educational institutions, healthcare facilities, among others, is escalating swiftly. It, in turn, is propelling the demand for robust vehicles & construction equipment like bulldozers, cranes, excavators, and others.

As a result, this mounting demand for heavy vehicles is directly impacting the requirement for robust tires to deliver improved grips, stability on different terrains, and low rolling resistance & traction, among other capabilities. Therefore, automakers & tire manufacturers are seeking different opportunities to introduce new vehicles & tires and expand their production capacities to suffice the burgeoning tire requirement and boost the market in the coming years.

Market Segmentation and Consumer Behavior:

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 (Up to USD90)
  • Economy (USD91-USD140)
  • Premium (Above USD140)

By Rim Diameter

  • Upto 12”
  • 1” to 15”
  • 1.” to 18”
  • 1” to 20”
  • 1” to 22.5”
  • 6” to 26”
  • 1” to 35”
  • 1” to 47”
  • Above 47”

Read Full Report: https://www.marknteladvisors.com/research-library/australia-tire-market-analysis.html

Australia Tire Market Geographical Analysis:

By Region:

  • West
  • North
  • South
  • Queensland
  • New South Wales
  • Victoria

Key Players and Competitive Strategies in the Australia Tire Market

Several prominent players dominate the Australia Tire Market, including:

  • Bridgestone
  • Goodyear and Dunlop Tyres
  • Continental
  • Yokohama
  • Michelin
  • Pirelli
  • Kumho
  • Hankook
  • Toyo
  • Federal tyres Australia

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Questions Addressed in this Study

1.What factors are driving the Australia Tire Market growth?

2.How is the Australia Tire Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Australia Tire Market?

4.What is the current size of the Australia Tire Market, and how is it projected to change in the future?

5.What is the future outlook for the Australia Tire Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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