Saturday, December 7, 2013

Bridgestone, Michelin and Goodyear Accounted for Over 70% Tyre Sales in Thailand

Infrastructure improvement, ASEAN Economic Community (AEC) membership and anticipated growth of automobile sales are the leading growth drivers of Thailand’s tyre market in the next five years
The tyre industry in Thailand is expected to witness notable growth, reaching up to around USD 17 Billion revenues by the end of 2018, according to the recently published TechSci Research report “Thailand Tyre Market Forecast and Opportunities, 2018”. Thailand’s tyre market is largely dominated by the likes of Bridgestone, Michelin and Goodyear, however, other companies such as Yokohama, Sumitomo and Continental tyres are giving tough competition to global tyre players.

Thailand’s automotive industry is one of the biggest and growing markets of South-East Asian region. Bilateral and multilateral free trade agreements with various countries, such as India, China, Japan, Australia, etc., have enhanced the competitive edge of Thailand’s automotive industry. The major automotive companies, such as Nissan, Toyota, Honda, Mitsubishi, GM, Ford, Isuzu, etc., have established their manufacturing plants in Thailand, catering to the domestic as well as global market. This has resulted into the growing demand for tyres in the country.

Via Long Island Newsday

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