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81 pages. Malaysia Tire Market has witnessed a robust growth in the tire sales in recent years on account of rising second-hand vehicle fleet, rising middle class population, developing transportation infrastructure as well as rising import of Chinese tires in the country. Further, increase in vehicle sales and drop in vehicle price would remain as the key drivers behind the growth of Malaysia tire market over the coming years.
According to 6Wresearch, Malaysia Tire Market size is projected to grow at a CAGR of 3.0% during 2019-2025. Growing automotive manufacturing driven by rising vehicle exports and domestic demand, and the rapidly growing requirement for electric vehicles in the region would present favourable opportunities for the tire market growth in Malaysia during the forecast period. Radial tires are the key revenue generating segment in the overall tire market, owing to the high installation of radial tires in vehicles due to its better puncture resistance and fuel saving capacity.
Passenger car tires are the leading revenue generating segment in the overall tire market in Malaysia owing to increase in passenger car fleet size and establishment of automobile manufacturing facilities in the country. Further, government's push for infrastructure and tourism development in the country would further lift the demand for light truck tires during the forecast period.
The Malaysia tire market report comprehensively covers the Malaysia tire market by origin, types, vehicle types and end users. Malaysia tire market outlook report provides an unbiased and detailed analysis of the on-going Malaysia tire market trends, opportunities/high growth areas, market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.
Publication Date:1 November 2019
Category: Market Reports
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