New Zealand Tire Market Overview
New Zealand tire market is projected to cross $ 1 billion by 2024 on account of surging sales of vehicles and rising disposable income of people in the region. Several road infrastructural projects, such as Waitemata Harbour Crossing and Puhoi Wellsford, by the government are further pushing the sales of automobiles across the country, which is subsequently driving New Zealand tire market. Moreover, rapid industrialization, expanding vehicle fleet size and rising urbanization are positively influencing the growth of the market.
New Zealand Tire Market Segments
On the basis of vehicle type, New Zealand tire market is segmented into passenger cars, light commercial vehicle, medium & heavy commercial vehicle, two-wheelers and off-the road vehicles. Passengers cars accounted for the dominant share in 2018 and the segment is expected to continue its dominance during forecast period as well on account of rising sales of passenger cars and increase in standard of living of people. Among demand category, New Zealand tire market is categorized into original equipment manufacturer (OEM) and replacement. Replacement is the dominating category and is anticipated to maintain its dominance as demand for replacement continues to grow as tires undergo wear and tear, thereby resulting in need to replace them. Moreover, improvements in infrastructure in New Zealand is resulting in increased number of miles driven which is further boosting demand for replacement in New Zealand tire market.
New Zealand Tire Market Regional Insights
In terms of regional analysis, New Zealand tire market is segmented into Auckland, Canterbury, Waikato, Wellington and Rest of New Zealand. Auckland tire market registered the highest growth in 2018 and the segment is poised to grow at high rate during forecast period as well owing to investments by the government bodies for rapid transport projects in the region.
New Zealand Tire Market Competitive Landscape
Major companies operating in New Zealand tire market recorded high volume sales in 2018 financial year and the trend is likely to remain same during forecast period. List of major players operating in New Zealand tire market include Compagnie G?n?rale des ?tablissements Michelin (CGEM), Goodyear Dunlop Tyres (NZ) Limited, Bridgestone Corporation, Hankook Tire Co., Ltd., Continental Pty. Ltd., The Yokohama Rubber Co., Ltd., Toyo Tire & Rubber Co., Ltd., Kumho Tire Co., Inc., Pirelli & C. S.p.A., Balkrishna Industries Limited, etc. Bridgestone was the last company to manufacture tires in New Zealand. Most of the companies have their distributor network in the country and tires are imported from Japan, Korea, etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report:
Historical Years: 2013-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020–2024
Objective of the Study:
- To analyze and forecast the market size of New Zealand tire market.
- To classify and forecast New Zealand tire market based on vehicle type, by radial vs bias, by demand category, by offline vs online and regional distribution.
- To identify drivers and challenges for New Zealand tire market.
- To conduct the pricing analysis for New Zealand tire market.
- To identify and analyze the profile of leading players involved in New Zealand tire market.
Some of the leading players in New Zealand tire market include Compagnie G?n?rale des ?tablissements Michelin (CGEM), Goodyear Dunlop Tyres (NZ) Limited, Bridgestone Corporation, Hankook Tire Co., Ltd., Continental Pty. Ltd., The Yokohama Rubber Co., Ltd., Toyo Tire & Rubber Co., Ltd., Kumho Tire Co., Inc., Pirelli & C. S.p.A., Balkrishna Industries Limited, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, distribution channels and presence of all major manufacturers across the country.
TechSci Research calculated the market size of New Zealand tire market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, OICA, World Bank, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Tire manufacturers, distributors and other stakeholders
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to tire market
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, New Zealand tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, By Vehicle Type:
o Passenger Car
o Light Commercial Vehicle
o Medium & Heavy Commercial Vehicle
- Market, By:
- Market, By Demand Category:
- Market, By:
- Market, By Region:
o Rest of New Zealand
- Market, By Company:
o Compagnie G?n?rale des ?tablissements Michelin (CGEM)
o Goodyear Dunlop Tyres (NZ) Limited
o Bridgestone Corporation
o The Yokohama Rubber Co., Ltd.
o Hankook Tire Co., Ltd.
Company Profiles: Detailed analysis of the major companies present in New Zealand tire market.
With the given market data, TechSci Research offers customizations according the company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).