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Australia Tire Market Forecast & Opportunities, 2021 Market Intelligence . Consulting

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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

2

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

© TechSci Research

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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)

© TechSci Research

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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

© TechSci Research

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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

© TechSci Research

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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

7

© 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

9

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

12

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.

© TechSci Research

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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

© TechSci Research

14

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

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Report Price

Report Name: Australia Tire Market Forecast & Opportunities, 2021

License Type Price

Electronic Access - Single User License $2500

CD-ROM Mail Delivery $3000

Hard Copy Mail Delivery $3500

Electronic Access - Multi-User License $5000

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© TechSci Research

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About Us

TechSci Research is a global market research and consulting company with offices in 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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