Research and Markets: The Tyre Industry in Australia Expected to Grow at the CAGR of Around 3% in Revenues during 2013-18
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/6b2vn8/australia_tyre) has announced the addition of the "Australia Tyre Market Forecast & Opportunities, 2018" report to their offering.
“Australia Tyre Market Forecast & Opportunities, 2018”
Australia maintains high standard of living, which can be accredited to it's elevated disposable incomes, low population density along with large land area of the country. As a result, it has second highest level of car ownership in the world, with 565 cars per 1,000 people in 2012. It has three times more roads when compared to Europe and around seven times to that of the whole of Asia. The road infrastructure indicates towards high number of automobiles in the country, where, increasing travelling trend of the Australians is maintaining high demand in the replacement market. The increasing car ownership level is further adding towards the OEM sales of the industry.
According to Australia Tyre Market Forecast & Opportunities, 2018, the tyre industry in Australia is expected to grow at the CAGR of around 3% in revenues during 2013-18. The top 5 tyre companies in Australia have captured around 80% of the market. While the growing demands for tyre have kept them in high spirits, the remaining 20% can also foresight the opportunity for them. The major demand for tyres in Australia is mainly concentrated in three regions namely; New South Wales, Victoria and Queensland, accounting for more than 70% of the overall tyre demand. This can be attributed to the presence of highest numbers of vehicles in these regions. The allied industries which are indirectly supporting the growth of tyre market in Australia are also growing, for instance, mining sector contributes around 10% to the country's GDP. The OTR tyres that are used in mining vehicles are generating noteworthy demand because of the increasing usage, as a result of the increasing mining activities in the country. Furthermore, as the mining industry shows up bright prospects in Australia, the global as well as the domestic OTR tyre companies are set to expand their production in this segment.
- Bridgestone Australia Ltd.
- Goodyear & Dunlop Tyres (Australia) Pty Ltd.
- Hankook Tyre Australia Pty. Ltd.
- Kumho Tyre Australia Pty., Limited
- Michelin Australia Pty Ltd.
- Toyo Tyre & Rubber Australia Limited
- Yokohama Tyre Australia Pty Ltd.
For more information visit http://www.researchandmarkets.com/research/6b2vn8/australia_tyre
About Research and Markets
Research and Markets is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.