australia tire market 2021 - brochure
TRANSCRIPT
Australia Tire Market Forecast & Opportunities , 2021
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
© TechSci Research
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Product Definition
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 carrya load under varying conditions.”
Classification According to Vehicle Type
Vehicle Segment Sub-Segment Customer Segment
Passenger Car
SUVs
IndividualsSedans
Hatchback/Compact Cars
Light Commercial Vehicle
Pick-Ups
Transport Companies, Logistics, Small Business Entrepreneurs, Government
Vans
Light Buses
Medium & Heavy Commercial Vehicle
Trucks
Logistics, SMEs, Transportation SystemBuses
Tractor Trailers
OTR (Off-the-Road) Vehicle
Mining, Construction & Industrial Equipment Farmers, Mining companies, Construction
CompaniesAgriculture Vehicles
Others
Two-Wheeler
Road Bikes
IndividualsOff-Road Bikes
All-Terrain Vehicles
Scooters
P r o d u c t O v e r v i e w
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T a b l e o f C o n t e n t s
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Australia 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 (Passenger Cars, Light Commercial Vehicles, Medium & Heavy Commercial Vehicles, Two-wheelers & Off-the-Road Vehicles)
4.2.2. By Radial vs. Bias
4.2.3. By Company
4.2.4. By Region
4.3. Supply Chain Model
4.4. Market Attractiveness Index (By Vehicle Type)
5. Australia Passenger Car (PC) Tire Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (SUVs, Sedans & Small Cars/Hatchbacks)
5.2.2. By Radial vs. Bias
5.2.3. By Company
5.3. Popular Sizes/Price Analysis
5.4. Market Attractiveness Index (By Vehicle Type)
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T a b l e o f C o n t e n t s
S. No. Contents
6. Australia Light Commercial Vehicle (LCV) Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (Pick-ups, Vans and Light Buses)
6.2.2. By Radial vs. Bias
6.2.3. By Company
6.3. Popular Sizes/Price Analysis
6.4. Market Attractiveness Index (By Vehicle Type)
7. Australia Off-The-Road (OTR) Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Market Share & Forecast
7.2.1. By Vehicle Type (Mining, Construction & Industrial Equipment, Agriculture Vehicles & Others)
7.2.2. By Radial vs. Bias
7.2.3. By Company
7.3. Popular Sizes/Price Analysis
7.4. Market Attractiveness Index (By Vehicle Type)
8. Australia Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
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T a b l e o f C o n t e n t s
S. No. Contents
8.2. Market Share & Forecast
8.2.1. By Vehicle Type (Trucks, Buses & Tractor Trailers)
8.2.2. By Radial vs. Bias
8.2.3. By Company
8.3. Popular Sizes/Price Analysis
8.4. Market Attractiveness Index (By Vehicle Type)
9. Australia Two-Wheeler (2W) Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Vehicle Type (Road Bikes, Off-Road Bikes, All Terrain Vehicles & Scooters)
9.2.2. By Radial vs. Bias
9.2.3. By Company
9.3. Popular Sizes/Price Analysis
9.4. Market Attractiveness Index (By Vehicle Type)
10. Australia Retread Tire Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
11. Import-Export Analysis
12. Market Dynamics
12.1. Drivers
12.2. Challenges
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T a b l e o f C o n t e n t s
S. No. Contents
13. Market Trends & Developments
13.1. Growing Retread Tire Market
13.2. Increasing Online Tire Sales
13.3. Introduction of National Tyre Stewardship Scheme
13.4. Inclination for Nitrogen Gas Filling in Tires
13.5. Rising Demand for Tire Pressure Monitoring System
14. Policy & Regulatory Landscape
15. Australia Economic Profile
16. Competitive Landscape
16.1. Bridgestone Australia Ltd.
16.2. Goodyear & Dunlop Tyres (Australia) Pty Ltd.
16.3. Yokohama Tyre Australia Pty. Ltd.
16.4. Michelin Australia Pty Ltd.
16.5. Kumho Tyre Australia Pty Ltd
16.6. Hankook Tyre Australia Pty. Ltd.
16.7. Continental Tyres of Australia Pty Ltd
16.8. Pirelli Tyres Australia Pty Ltd
16.9. Toyo Tires & Rubber Australia Limited
16.10. Federal Tyres Australia
17. Strategic Recommendations
18. Annexure (Include Dealer/Distributor List for each Tire Company)
19. About Us & Disclaimer
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© TechSci Research
R e s e a r c h M e t h o d o l o g y
A
C
B
Primary Research
Company Analysis
Desk Research
Identifying Key Opinion
Leaders
Questionnaire Design
In-depth Interviews
Market Participants
Key Strengths
Tire Portfolio
OEM Tie-ups
Recent
Developments
Market Changing
Aspects/Dynamics
Government
Policies
Final Conclusion
LinkedIn TechSci Internal
Database
Factiva Hoovers
Paid Sources
Company Website Company Annual
Reports White Paper Study Financial Reports Investor
Presentations Regulatory Body, Associations, etc.
Secondary Research
Primary Research
Data Collection
Data Filter& Analysis
Research &Intelligence
ActionableInsights
BusinessSolution
•In-depth secondary research was used todetermine top players in Australia tire market,overall market size and to identify topautomobile tire manufactures.
Market Profiling
•In order to conduct industry expert interviews,TechSci formulated a detailed questionnaire.
Formulating Questionnaire
•List of industry players (manufacturers),distributors, retailers and industry specialistswas formulated.
Developing list of respondents
•TechSci conducted interviews with industryexperts, industry players for data collection andverification.
Data Collection
•Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.
Data Validation
•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis,etc., to obtain qualitative and quantitativeinsights about Australia tire market.
Data Analysis
© TechSci Research
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R e s e a r c h M e t h o d o l o g y
Baseline Methodology:
For the study, TechSci Research has gathered information through primary research surveys with leading
tire companies operating in Australia, and subsequently verified information from major dealers/distributors
of automobile tires 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 collected information and presented the same in chronological order to depict a
meaningful and clear picture of the tire market in Australia.
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 information of the concerned industry. The
report has been prepared with in-depth primary research, followed by exhaustive secondary research.
Primary Research – Companies Dealers & Distributors Interviewed
Few of Sources of Secondary Research
S. No.Tire Companies, Dealer, Distributor and
Associations
1. Tyre and Rim Association of Australia
2.Australian Tyre Dealers and Retreaders
Association
3 Toyo Tyre and Rubber Australia
4. Hankook Tire Australia
5. Bridgestone Australia Ltd.
6. Michelin
7. Titan
8. Federal Tyres Australia
S. No. Secondary Sources
1. Federal Chambers of Automotive Industries
2. OICA
3. Australia Bureau of Statistics
4. Australia Trade and Industry Commission
5.Organisation for Economic Co-operation and
Development (OECD)
6. World Bank
7. International Monetary Fund
8. UN Comtrade
R e s e a r c h M e t h o d o l o g y
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For the preparation of Australia tire report, bottom-up model has been used, which has been later crossvalidated by using top down approach.
Vehicle Sales & Fleet Size
The basic data points that are needed for the analysis of Australia tire market are the historical, currentand forecast figures for vehicle sales and fleet size. The data for vehicle sales and fleet size has beenextracted through various secondary sources and credible data portals. TechSci Research has alsomaintained a database for vehicle sales and fleet size for each vehicle segment (passenger cars, lightcommercial vehicles, medium & heavy commercial vehicles, two-wheelers, three-wheelers and off-the-road vehicles), which is regularly updated through various primary research surveys and secondarysources such as automotive associations & government publications.
Vehicle Production
TechSci Research has gathered vehicle production data from credible sources such as SIAM and OICA.TechSci Research has also maintained a database for vehicle production for each vehicle segment(passenger cars, light commercial vehicles, medium & heavy commercial vehicles, two-wheelers, three-wheelers & off-the-road vehicles), which is regularly updated through various primary research surveysand secondary sources such as automotive associations & government publications.
Tire Demand
OEM Tire Sales
OEM tire demand in Australia is directly dependent on the country’s vehicle production. The OEM demandis therefore extracted by multiplying vehicles produced with the number of tires fitted in the vehicle. Forexample, in case of passenger car, five tires are fitted by the OEM during manufacturing process.
© TechSci Research
R e s e a r c h M e t h o d o l o g y
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Tire Demand
Replacement Tire Sales
Replacement tire demand of a particular country is directly dependent on the country’s vehicle fleet sizeand historical vehicle sales. The replacement demand is therefore extracted by multiplying the vehiclefleet with the replacement tire ratio, which is obtained by conducting a series of surveys with car ownersto understand the frequency of tire replacement as it varies for different countries depending on variousfactors such as road conditions, climate, economic and regulatory policies applicable in a country. Thereplacement ratio is expressed as a percentage. For example, in case of passenger cars, replacementratio is considered to be 100% if four tires are replaced per vehicle per year.
Example for passenger car replacement tire demand calculation:
Passenger Car
Fleet Size
(Volume)
XReplacement Ratio
(%)X No. of Tires =
Replacement
Tire Demand
X X X% X X = X Tires
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 companiesdealers/distributors in Australia. The information thus gathered through primary interviews was cross-verified through industry experts and secondary sources such as annual reports and paid databases togenerate meaningful results.
Total Tire Market
OEM Tire Sales +Replacement Tire
Sales= Total Tire Market
© TechSci Research
R e s e a r c h M e t h o d o l o g y
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Tire Trade (Import & Export)
TechSci Research analyzed tire imports in Australia. The data has been gathered through governmentagencies and credible paid databases. The total tire trade has been segmented in accordance with belowmentioned HS codes:
HS Code Description Tire Type
XXXX Motor Cars Passenger Car Tire
XXXX Bus or Lorries Tires Commercial Vehicle Tire
XXXX Motorcycle Tire Two-Wheeler Tire
XXXX Tire Having a "Herring Bone"
OTR Tire
XXXX Tire Having a "Herring Bone"
XXXX Tire Having a "Herring Bone"
XXXX Tire Having a "Herring Bone"
XXXX Tire Having a "Herring Bone"
XXXX Agriculture Tire
XXXX Construction/Industrial Tire
XXXX Construction/Industrial Tire
XXXX Others Other Tire
The import figures for each vehicle type (Passenger Car, Commercial Vehicle, Two-Wheeler, Three-wheelers & OTR) have been depicted in value terms (USD Million).
Forecast
For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis, followedby judgmental analysis.
© TechSci Research
I n d u s t r y B r i e f
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Tire Market in Australia Set to Surpass AUD 5.2 billion by 2021
Expanding vehicle fleet, increasing industrialization and rising urbanization to drive Australia tire market during 2016-2021
According to TechSci Research report, “Australia Tire Market Forecast & Opportunities, 2021’’, tire market in Australia isforecast to reach US$ 3.9 billion (AUD 5.2 Bn) by 2021, on account of expanding vehicle fleet size, rising urbanization, rapidindustrialization and robust pace of infrastructure developments. In February 2016, government launched its first long terminfrastructure plan, with major focus on filling infrastructure gaps and improving road, rail as well as port connectivity. This isprojected to fuel demand for tires from commercial and OTR vehicle segments in the coming years. Due to imposition of highimport duties, passenger car OEMs such as Ford, Toyota and Holden have announced closure of their manufacturing facilitiesin the country, and consequently, demand from replacement segment is anticipated to dominate the country’s tire marketthrough 2021.
Vehicle sales in Australia grew at a CAGR of more than 3% during 2011-2015, with unit sales increasing from 1.12 millionunits in 2011 to 1.26 million units in 2015. The automobile vehicle fleet size in Australia also increased from 15.19 millionunits in 2011 to 18.01 million units in 2015. Expanding fleet size boosted replacement demand for tires in the country duringthe same period. Further, Australia tire market is dominated by passenger car tire segment, followed by light commercialvehicle tire segment, and this trend is expected to continue during the forecast period. Booming construction and logisticssectors are projected to drive robust growth in demand for medium and heavy commercial vehicles and related tire productsin the country, over the next five years. Australian Capital Territory and New South Wales are the leading regional markets fortires in Australia, due to high population density, large vehicle fleet size and high concentration of industries and businessesin the region.
“Of late, people in Australia are demonstrating increasing inclination towards SUVs, on account of rising disposable incomelevels of consumers and continuing improvements in road infrastructure. This is projected to augment demand for SUV tiresin the country during the forecast period. Growing consumer demand for enhanced tire performance and safety is alsoprojected to increase adoption of technologies such as Tire Pressure Monitoring System in the coming years. TPMStechnology aids in monitoring tire inflation pressure on real time basis, with the help of sensors and alerts the driver in caseof an emergency.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global managementconsulting firm.
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S a m p l e D a t a - S n a p s h o t
Australia Tire Market Size, By Value (USD Billion),
By Volume (Million Units), 2011-2021F
1.00 1.20 1.40 1.60 1.80 2.00 2.20 2.40 2.60 2.80 3.003.00 3.20 3.40 3.60 3.80 4.00 4.20 4.40 4.60 4.80 5.00
2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F
Value (USD Billion) Volume (Million Units)
Australia Tire Market Share, By Vehicle Type, By Volume, 2011-2021F
3% 3% 3% 3% 3% 3% 3% 3% 3% 3% 3%
7% 7% 7% 7% 7% 7% 7% 7% 7% 7% 7%5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5%
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%
60% 60% 60% 60% 60% 60% 60% 60% 60% 60% 60%
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Passenger Cars Light Commercial Vehicles
Medium & Heavy Commercial Vehicles Two-Wheelers
Off-the-Road Vehicles
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
0.00 0.50 1.00 1.50 2.00 2.50 3.00
Passenger Car Tire
Medium & Heavy Commercial Vehicles Tire
Light Commercial Vehicles Tire
Off-the-Road Tire
Two-Wheeler Tire
Australia Tire Market Attractiveness Index,
By Type, By Volume, 2015-2021F
Australia Tire Market Share, By Radial
vs. Bias, By Volume, 2015-2021F
10% 10% 10% 10% 10% 10% 10%
90% 90% 90% 90% 90% 90% 90%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Radial Tires Bias Tires
Australia Tire Market Share, By Company, By Volume, 2015-2021F
6% 6% 6% 6% 6% 6% 6%
14% 14% 14% 14% 14% 14% 14%10% 10% 10% 10% 10% 10% 10%5% 5% 5% 5% 5% 5% 5%
15% 15% 15% 15% 15% 15% 15%
20% 20% 20% 20% 20% 20% 20%
30% 30% 30% 30% 30% 30% 30%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Others* Bridgestone Goodyear & Dunlop
Yokohama Michelin Kumho
Australia Passenger Car Tire
Average Selling Prices, By
Prominent Tire Size, 2015 (USD)
175/70R13
185/65R14
185/65R15
205/65R15
265/70R17
1020
3040
5060
7080
90100
Passenger Car Tire Prominent SizesPC, 25.00%
CV, 25.00%
OTR, 25.00%
Two Wheeler, 25.00%
Australia Tire Imports
Share, By Vehicle Type,
By Value, 2015
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R e p o r t O r d e r i n g
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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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