Embed Size (px)
Citation preview
M a r k e t I n t e l l i g e n c e . C o n s u l t i n g
S outh Korea Tyre Market Forecast & Opportunities , 2020
I n d u s t r y B r i e f
© TechSci Research
2
South Korea has emerged as a major market for automotive tyres in Asia-Pacific over the last few years. On account of
significant industrial growth, the country’s automotive industry has been flourishing at a rapid pace. This is evident from the
fact that South Korea is the fifth largest passenger car manufacturer in the world. As a result, the country has been
registering significant growth in tyre volume sales over the last five years. The government’s announcement of reduction in
individual consumption tax on car purchase is expected to further boost tyre sales in the country in the coming years.
However, the country lacks in indigenous tyre manufacturing units due to scarcity of natural rubber, and hence, depends
largely on natural rubber imports from Thailand, Indonesia, Vietnam, Malaysia and the Philippines.
According to “South Korea Tyre Market Forecast & Opportunities, 2020”, the tyre market in South Korea is forecast to
reach around US$ 5 billion in 2017. Growing vehicle exports, increasing adoption of electric vehicles and favorable
government initiatives are expected to propel the market over the next five years. With a majority share in South Korea’s
tyre market, the passenger car tyre segment is the most dominant tyre segment in the country’s tyre market. Since major
global automobile manufacturers like Hyundai, General Motors, Renault Samsung, Daelim and Doosan have a significant
presence in South Korea, the demand for tyres from the OEM segment exceeds replacement sales. Northern region
comprising Seoul, Incheon, Gyeonggi province and Gangwon province is the largest tyre market in South Korea as the region
is the political and industrial hub of the country, which makes it an attractive investment destination for leading global
players operating in diverse industry segments including automobile and allied industries. “South Korea Tyre Market
Forecast & Opportunities, 2020” discusses the following aspects about the tyre market in South Korea:
South Korea Tyre Market Size, Share & Forecast
Segmental Analysis – Passenger Car Tyres, Commercial Vehicle Tyres, Two-Wheeler Tyre & OTR Tyres
Policy and Regulatory Landscape
Changing Market Trends & Emerging Opportunities
Competitive Landscape and Strategic Recommendations
T a b l e o f C o n t e n t s
3
© TechSci Research
1. Research Methodology
2 Analyst View
3. Tyre Market & Product Overview
4. South Korea Tyre Market Outlook
5. South Korea Passenger Car Tyre Market Outlook
6. South Korea Commercial Vehicle Tyre Market Outlook & Forecast
16. Strategic Recommendations
17. About Us & Disclaimer
7. South Korea Two-Wheeler Tyre Market Outlook
8. South Korea OTR Tyre Market Outlook & Forecast
9. South Korea Tyre Market Raw Material Analysis
10. South Korea Tyre Market Trade Analysis
11. South Korea Tyre Market Dynamics
12. South Korea Tyre Market Policy & Regulatory Landscape
13. South Korea Tyre Market Trends & Developments
14. South Korea Economic Profile
15. Competitive Landscape
R e s e a r c h M e t h o d o l o g y
© TechSci Research
4
Major Companies Interviewed Hankook, Kumho, Nexen
Baseline Methodology :
For the study, TechSci Research has gathered information through primary research surveys with prominent tyre
suppliers based in South Korea and later verified the information from major distributors of automobile tyres in the
country. We also put through an exhaustive search of credible paid databases such as Business Week, Factiva,
Hoovers, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected
information and presented them in chronological order to depict a meaningful and clear picture of the tyre market
in South Korea.
While compiling the data, we have also cross-checked all the collected information from multiple sources and data
warehouses, so as to present the most accurate and precise picture of the concerned industry.
Sources :
Korea Automobile Manufacturers Association (KAMA), Korea Motorcycle Industry Association (KoMIA), Korea Tire
Manufacturers Association (KOTMA), The Rubber Society of Korea, Economic Intelligence Unit (EIU), Hoovers,
Business Week, Company Annual Reports, Factiva, One Source and News Articles
S a m p l e D a t a - S n a p s h o t
5
© TechSci Research
2040
6080
100
10
20
30
40
50
2010 2011 2012 2013 2014
OEM SalesReplacement Sales
Figure 1: South Korea Tyre Market Size, By Volume,
2010 – 2014 (Million Units)
Passenger
Car, 25%
Commercial
Vehicle, 25%Two-wheeler,
25%
OTR Vehicle,
25%
Passenger
Car, 25%
Commercial
Vehicle, 25%
Two-wheeler,
25%
OTR Vehicle,
25%
Figure 3: South Korea Tyre Market Share,
By Vehicle Type, By Volume, 2014
Figure 4: South Korea Tyre Market Share,
By Vehicle Type, By Volume, 2020F
Central South Korea
2014 2020F
X% X%
Northern South Korea
2014 2020F
X% X%
Southern South Korea
2014 2020F
X% X%
Figure 7: South Korea Tyre Market Share, By Region, By
Volume, 2014 & 2020F
10
20
30
40
2010 2011 2012 2013
Figure 24: South Korea Tyre Exports, By Value
(USD Million)
Tractor, 33%
Forklift,
34%
Others, 33%
Figure 22: South Korea OTR Tyre Market Share, By
Vehicle Type, By Volume, 2014
R e p o r t O r d e r i n g
6
© TechSci Research
Report Name: South Korea Tyre Market Forecast and Opportunities, 2020Product Price
To View Sample OR Purchase Report
License Type Price
Electronic Access - Single User License USD 2000
CD-ROM Mail Delivery USD 2600
Hard Copy Mail Delivery USD 3000
Electronic Access - Multi-User License USD 4500
A b o u t U s & D i s c l a i m e r
7
© TechSci Research
TechSci Research – North America
2950, Boundary Road, Burnaby,
British Columbia, Canada
Tel: +1- 646- 360-1656
Email: [email protected]
www.techsciresearch.com
About Us:
TechSci Research is a global market research and consulting company with offices in Canada, the UK and India. TechSci Research
provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on
improved productivity, and also ensures the creation of high-quality reports. The proprietary forecasting models use various
analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of
a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the
result is a uniquely rich evaluation of the opportunities available in the market.
Related Reports
India Automotive Bearings Market Forecast & Opportunities, 2020
Taiwan Tyre Market Forecast & Opportunities, 2020
Malaysia Tyre Market Forecast & Opportunities, 2019
Partial List of Clients
Disclaimer:The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is madethat it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained fromvarious sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy orcompleteness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information andespecially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with allestimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly forclient’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.
TechSci Research – Europe
54, Oldbrook, Bretton,
Peterborough,
United Kingdom
Email: [email protected]
www.techsciresearch.com
TechSci Research – Asia-Pacific
A – 51, Sector -57, Noida, National
Capital Region, U.P. - India
Tel: +91-120-4243434
Email: [email protected]
www.techsciresearch.com
