Passenger Car Tires Market in Thailand 2015-2019

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Thailand is one of the leading rubber producing countries in the world. Its rubber processing industries are flourishing, especially those that manufacture tires and gloves. In 2011, Thailand Thailand had 74 passenger cars per 1,000 people, indicating enormous potential for passenger car sales. Thus, Thailand is one of the most significant markets for tire manufacturers.

The country's GNI per capita (PPP) increased by 45.05%, from $9,230 in 2005 to $13,430 in 2013. This continuous rise fueled passenger car sales. Furthermore, the country had about 5.41 million passenger cars in use the same year. This translated into growth of associated markets such as the tire market.

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The market comprises prominent tire manufacturers, such as Michelin, Pirelli, Bridgestone, Toyo Tire, Yokohama, Goodyear, and Continental Tires; and also established automobile manufacturers, such as Ford, Mazda, General Motors, Honda, Mercedes-Benz, Toyota, and Nissan. While the tire market in general witnessed growth, it was affected by the drastic fall in automobile production and sales during 2014. The primary reasons for the decline included political instability, slow economic growth, and removal of Thai Prime Minister Yingluck Shinawatra. Though passenger car sales are expected to experience a decline in 2015 as well, experts believe that the passenger car market in Thailand is expected to become stable by the end of 2015.

Market analysts forecast the passenger car tire market in Thailand to grow at a CAGR of 4.03% over the period 2014-2019.

Covered in this Report

This report covers the present scenario and the growth prospects of the passenger car tire market in Thailand for 20152019. It also covers forecasts and analyses of the market in terms of...