Taiwan Tire (Tyre) Market Forecast 2021 - brochure

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

Taiwan Tire Market Forecast & Opportunities , 2011 - 2021

T a b l e o f C o n t e n t s

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S. No. Contents

1. Product Overview

2 Research Methodology

3. Analyst View

4. Taiwan Tire Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value & Volume

4.2. Market Share & Forecast

4.2.1. By Vehicle Type

4.2.3. By Region

4.2.4. By Demand Category (OEM & Replacement)

5. Taiwan Two-Wheeler Tire Market Outlook




5.2.1. By Vehicle Type (Light Motorcycle & Heavy Motorcycle)


6. Taiwan Passenger Car Tire Market Outlook




6.2.1. By Vehicle Type (Hatchback, SUV/MPV & Sedan)



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S. No. Contents

7. Taiwan Light Commercial Vehicle Tire Market Outlook





8. Taiwan Medium & Heavy Commercial Vehicle Tire Market Outlook





9. Taiwan OTR Tire Market Outlook




9.2.1. By Vehicle Type (Agricultural & Construction & Industrial)

10. Import Export Analysis

11. Market Dynamics

11.1 Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Growth in Retread Tire Market

12.2. Rising Demand for Intelligent Electric Vehicles


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S. No. Contents

12.3. Recycling and Handling Of Waste Tires

12.4. Decreasing Tire Exports

12.5. Growing Volume of Imported PC and Motorcycle Tires

13. Policy & Regulatory Landscape

14. Taiwan Economic Profile

15. Competitive Landscape

16.1. Cheng-Shin Rubber Ind. Co. Ltd.

16.2. Kenda Industrial Co. Ltd.

16.3. Nankang Rubber Tire Corp., Ltd.

16.4. Federal Corporation

16.5. Bridgestone Taiwan Co., Ltd.

16.6. Michelin Tire Taiwan Co., Ltd.

16.7. Goodyear Taiwan Limited

16.8. Kumho Tire Co., Inc

16.9. Pirelli & C. S.p.A.

16.10. Continental AG Ltd.

17. Strategic Recommendations

18. About Us & Disclaimer

P r o d u c t O v e r v i e w

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Vehicle Segment Sub-Segment Customer Segment

Passenger Car

Hatchback

IndividualsSUV/MPV

Sedan

Light Commercial Vehicle NATransport Companies, Logistics, Small

Business Entrepreneurs, Delivery Services, Government

Medium & Heavy Commercial Vehicle

NA Logistics, SMEs, Construction

OTR (Off-the-Road) Vehicle

Agricultural Farmers, Construction Companies

Construction & Industrial

Two-Wheelers

Light Motorcycle

Individuals, Delivery Services

Heavy Motorcycle

Global Tire supplier Michelin defines Tire as, “A precisely engineered assembly of

rubber, chemicals, fabric, and metal, designed to provide traction, cushion road

shock and carry a load under varying conditions.”

Classification According to Vehicle Type

Product Definition

R e s e a r c h M e t h o d o l o g y

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Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leadingtire suppliers based in Taiwan, and subsequently, verified information from major distributors ofautomobile tires in the country. We also put through an exhaustive search of credible paid databasessuch as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of analysts hasthen prudently evaluated all the collected information and presented the same in chronological order todepict a meaningful and clear picture of tire market in Taiwan.

While compiling the data, we have also cross checked all the collected information from multiple sourcesand data warehouses, so as to present the most accurate and precise information of the concernedindustry. We use innovative business model that focuses on improving productivity, while ensuringcreation of high-quality reports. The reports are prepared with in-depth primary research, followed byexhaustive secondary research.

Primary Research - Companies Interviewed

S. No. Company Name

1 Cheng Shin Rubber Ind. Co., Ltd

2 Kenda Rubber Industrial Co., Ltd.

3 Federal Corporation

4 Michelin Tire Taiwan Co., Ltd.

5 Goodyear Taiwan Limited

Few of Sources of Secondary Research

S. No. Secondary Source

1Taiwan Transportation Vehicle Manufacturers

Association

2Bureau Of Foreign Trade, Ministry of Foreign

Affairs.

3National Statistics, Republic of China

(Taiwan)

4International Organization of Motor Vehicle

Manufacturers (OICA)

5Taiwan Rubber And Elastomer Industries

Association

6 World Bank


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For preparation of Taiwan tire report bottom up model has been used, which has been later on crossvalidated by using top down approach.

Tire Production

TechSci Research has mapped production capacities of almost all Tire manufacturing units in Taiwan.With the help of a series of primary research surveys of all the major Tire manufacturing companies inthe country, followed by cross validation through secondary sources such as company annual reportsand industry associations. TechSci Research has been successful in identifying the production capacitiesof each Tire plant as well as their respective plant locations, establishment dates and type of Tiresmanufactured.

Vehicle Production, Sales & Fleet Size

The basic data points that are needed for the analysis of Taiwan tire market the historical, current andforecast figures for vehicle production, sales and fleet size. Data for fleet size has been extractedthrough various government sources and credible data portals. TechSci Research has maintained adatabase for vehicle production, sales and fleet size for each vehicle segment (passenger cars, lightcommercial vehicles, medium & heavy commercial vehicles, two-wheelers & off-the-road vehicles),which is regularly updated through various primary research surveys and secondary sources such asautomotive associations & government publications.

Tire Demand

OEM Tire Sales

OEM Tire demand has been calculated by multiplying the average number of Tires per vehicle to thetotal number of vehicles produced. For example, for two-wheeler segment, the average number of Tiresis considered to be two and for passenger cars, the average number of Tires is considered to be five.Further, the average number of Tires for light commercial vehicles (LCVs), medium & heavy commercialvehicles (M&HCVs) and off-the-road (OTR) vehicles have been considered as 5, 7 and 4, respectively.


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Replacement Tire Sales

Replacement Tire demand of a particular country is directly dependent on country’s vehicle fleet size andhistorical vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleetwith the replacement Tire ratio, which is obtained by conducting a series of surveys with car owners tounderstand the frequency of Tire replacement as it varies for different countries depending upon factorssuch as road conditions, climate, economic and regulatory policies applicable in a country. Thereplacement ratio is expressed as a percentage; and is considered to be 100% if one Tire is replaced pervehicle per year.Example for Passenger Car replacement Tire demand calculation:

The calculated replacement Tire demand data is further analyzed by TechSci Research through Delphitechnique i.e. multiple rounds of telephonic interviews were conducted with Tire companies/dealers inthe Taiwan. The information thus gathered through primary interviews is cross-verified through industryexperts and secondary sources such as annual reports and paid databases to generate meaningfulresults.

Total Tire Market

Tire Trade (Imports & Exports)

TechSci Research has analyzed Tire imports and exports in the Taiwan. The data has been gatheredthrough government agencies and credible paid databases. The total Tire trade has been segmented inaccordance with below mentioned HS codes:

Passenger Car

Fleet Size

(Volume)

XReplacement Ratio

(in %)X No. of Tires =

Replacement

Tire Demand

1,00,000 X 10% X 4 = 40,000 Tires

OEM Tire Sales +Replacement Tire

Sales= Total Tire Market


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The import and export figures for each HS Code have been depicted in Value (USD Million).

Tire Brands Mapping

TechSci Research has mapped all Tire brands being sold in the Taiwan. TechSci Research has gatheredthis information through primary and secondary research. The Tire brands being sold in the Taiwan arefurther segmented into “domestically manufactured” and “non-domestically manufactured” categories.The objective behind brand mapping is to understand more about the competition such as market share,current targets, future strategy, etc.

Forecast

For forecasting the numbers, we have used time series analysis along with regression analysis, followedby judgmental analysis as certain factors such as infrastructure condition, economic outlook, etc., wouldalways differ in the Taiwan.

HS Code Description Tire Type

401110 Motor Cars Passenger Car Tire

401120 Bus or Lorries Tires Commercial Vehicle Tire

401140 Motorcycle Tire Two-Wheeler Tire

401161 Tire Having a "Herring Bone"

OTR Tire





401192 Agriculture Tire

401193 Construction/Industrial Tire

401194 Construction/Industrial Tire

401199 Others Other Tires

I n d u s t r y B r i e f

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Taiwan Tire Market to Surpass $1.2 Billion by 2021

Expanding automotive fleet size, rising automobile exports, coupled with increasing government towards infrastructuraldevelopment to drive Taiwan tire market through 2021

According to TechSci Research report, “Taiwan Tire Market Forecast and Opportunities, 2011 – 2021”, tire market inTaiwan is forecast to surpass $1.2 Billion by 2021, owing growing automobile production to cater domestic as well asforeign market, coupled with favourable tax policies, and expanding automobile fleet size in the country. Presence ofmajor automobile manufacturers like Toyota, Honda, Nissan, China Motor Corporation, Ford, etc., in the country arealso fueling demand for automobiles in the country. Automobile sales in Taiwan exhibited a CAGR of 0.13% during2011-2015, as sales of automobiles increased from 925 thousand units in 2011 to 930 thousand units in2015. Moreover, these automobile manufacturers cater to domestic market as well as international market, which isfurther expected to further drive demand for tires in Taiwan in the coming years.

In Taiwan tire market two-wheeler tire segment accounted for highest market share in 2015, and the segment by overthe past few years, and the segment is further expected to continueit’s dominance in the market in the coming years aswell, owing to expanding two-wheeler fleet size and rising sale of two-wheelers in Taiwan. Moreover, two-wheelersales increased from 639 thousand units in 2011 to 667 thousand units in 2015. Furthermore, northern region was thehighest demand generating region for tires within the country, and the regions dominance is further anticipated tocontinue in the coming years, on account of presence of prominent cities like Taipei City, New Taipei City, Yilan County,Taoyuan County, Hsinchu County, Miaoli County, Keelung City and Hsinchu City in the region.

Taiwan is undergoing a major infrastructure transformation with number of construction projects in pipeline, owing togrowing developmental activities being undertaken in energy, communication, transport, water, health and housingsectors across the country. Moreover, demand for tires in Taiwan grew at a stagnant pace over the past few years,owing to growing vehicle fleet size in the country. Furthermore, rising number of automobile exports to neighbouringcountries, coupled with growing customer inclination towards purchasing two-wheelers to drive Taiwan tire marketduring the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based globalmanagement consulting firm.

https://www.techsciresearch.com/report/taiwan-tire-market-forecast-opportunities/843.html

S a m p l e D a t a - S n a p s h o t

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Taiwan Tire Market Size, By Value (USD Million),

By Volume (Million Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 12

3 5 7 9 1115 17 19 21 23 25

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Billion) Volume (Million Units)Source:XXXXX

Note: These are dummy figures; please purchase our report for actual data

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

30% 30% 30% 30% 30% 30% 30%

40% 40% 40% 40% 40% 40% 40%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Northern Region Central Region Southern Region Island Region

Taiwan Tire Market Share, By Region, By Volume, 2015 - 2021F

Taiwan Tire Market Share, By Region, By Volume, 2015 & 2021F

YearMarket

Share (%)

2015 X%

2021F X%

Northern Region

Central Region

Southern Region

Island Region

YearMarket

Share (%)

2015 X%

2021F X%

YearMarket

Share (%)

2015 X%

2021F X%

YearMarket

Share (%)

2015 X%

2021F X%

Taiwan Tire Market Share, By Demand Category

(OEM vs Replacement), By Volume, 2011-2021F

40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40%

60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60%

2011 2012 2013 2014 2015 2016E 2017E 2018E 2019E 2020E 2021E

OEM Demand Replacement Demand

Taiwan Medium & Heavy Commercial Vehicle

Tire Market Share, By Demand Category (OEM

vs Replacement), By Volume, 2011-2021F

30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%

70% 70% 70% 70% 70% 70% 70% 70% 70% 70% 70%

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F


Taiwan Light Commercial Vehicle Tire Market Share, By Demand

Category (OEM vs Replacement),By Volume, 2011-2021F

40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40%

60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60%

2011 2012 2013 2014 2015 2016E 2017E 2018E 2019E 2020E 2021E


R e p o r t O r d e r i n g

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Report Name: Taiwan Tire Market Forecast & Opportunities, 2011 - 2021

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A b o u t U s & D i s c l a i m e r

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About Us:

TechSci Research is a global market research and consulting company with offices in the US, 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 improving

productivity, while ensuring 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.

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Disclaimer:The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can changewithout notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage ofthe same for purpose other than internal will require prior approval of TechSci Research.

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Date post:	06-Jan-2017
Category:	Automotive
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Taiwan Tire (Tyre) Market Forecast 2021 - brochure

Automotive