DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/mswp4x/passenger_car) has announced the addition of the "Passenger Car Tire Market in Australia 2015-2019" report to their offering.
This report covers the present scenario and the growth prospects of the passenger car tire market in Australia for the period 2015-2019.
The market has prominent tire manufacturers such as Michelin, Bridgestone, Toyo Tire, Yokohama, Goodyear, and Continental Tires, and also has established automobile vendors such as Ford, General Motors, Honda, Mercedes-Benz, and Toyota. Though passenger car sales witnessed a decline in 2013 and 2014, the tire market in general has witnessed consistent growth over the past decade. Passenger car sales are expected to decline during the forecast period. However, the passenger car tire market is expected to continue to grow due to the growing number of passenger cars in use.
The report also presents the vendor landscape and a corresponding detailed analysis of the prominent vendors in the passenger car tire market in Australia. In addition, the report includes the major drivers that are influencing the growth of the passenger car tire market in Australia. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends emerging in the market.
The self-sealing tires that eliminate the need for a spare tire or tire-changing equipment on board a car are expected to be a major trend in the market, especially in regions where punctures are more common.
According to the report, profit margins of the tire vendors have surged since 2011, the year when the prices started dipping. However, tire vendors are expected to pass the savings to consumers. The initiation would be with an aim to gain market share.
Further, the report states that increase in retreading of tires is affecting the replacement tire market which in turn is affecting the market growth. The report contains forecasts and analyses of the market in terms of volume.
The market includes the following segments:
- OEM segment
- Replacement segment
- Alliance Tire Group
- Apollo Tyres
- Bridgestone Australia
- Cooper Tire and Rubber
- Federal Tyres Australia
- Goodyear & Dunlop Tyres Australia
- GT Radial
- Hankook Tyre
- Kumho Tyre
- Maxxis International
- Michelin Australia
- Nokian Tyres
- Sumitomo Rubber Industries
- Toyo Tyre and Rubber
- Yokohama Rubber
For more information visit http://www.researchandmarkets.com/research/mswp4x/passenger_car