Malaysia Tyre Market Forecast and Opportunities, 2019

Oct 25, 2014- Mumbai, India :Bharatbook.com announces a new report on " Malaysia Tyre Market Forecast and Opportunities, 2019”. The country has one of the highest number of vehicles per capita, globally.

Bharat Book Bureau presents the new report, on " Malaysia Tyre Market Forecast and Opportunities, 2019”.The passenger car tyre segment dominates the tyre market in Malaysia, having held a market share of about 65%, in volume terms, in the year 2013.

Malaysia is one of the most developed economies in Southeast Asia. The country has one of the highest number of vehicles per capita, globally. More than 50 automobile OEMs operate in Malaysia, ranging from local brands, such as Proton and Perodua to international brands like Toyota, Honda, Nissan, BMW and Land Rover among others. Both these domestic and global players have established their manufacturing facilities in the country in order to address growing automobile demand within the country as well as internationally. In 2013, about 0.66 million units of commercial vehicles and passenger cars were sold in Malaysia. Over the past few years, sales of hybrid vehicles have also increased and is expected to grow in the future due to tax rebates offered by the government in order to promote such vehicles. Malaysia has Free Trade Agreements (FTAs) with various other countries, including India, Japan, Pakistan, China, Australia and New Zealand, which has resulted in reduced import and excise duties on the import of vehicles, particularly hybrid cars and electric two-wheelers in the country. Rising demand for commercial vehicles, passenger cars as well as hybrid and other vehicles in Malaysia, coupled with favorable government policies and increasing foreign investments is expected to significantly boost tyre volume sales in the country.Goodyear, Continental Tyres, Michelin and Bridgestone are few leading players in the country’s tyre market.

According to “Malaysia Tyre Market Forecast & Opportunities, 2019”, the tyre...