Southeast Asia Tire Market to Hit $14.48 Billion by 2030, Driven by Thailand's Dominance and 6.1% CAGR Growth

High rubber production in the Southeast Asian region, growth in automotive exports, and rise in passenger car sales drive the growth of the Southeast Asian tire market. Based on country, Thailand contributed to the highest share in terms of revenue in 2020, holding nearly one-third of the total market share. However, the outbreak of the COVID-19 pandemic has had a negative impact on the Southeast Asian tire market.

According to the report published by Allied Market Research, the Southeast Asian tire market generated $8.21 billion in 2020, and is projected to reach $14.48 billion by 2030, witnessing a CAGR of 6.1% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Thailand dominates the market in terms of revenue, followed by Indonesia, Malaysia, Vietnam, and Philippines. Thailand led the southeast Asian tire market share in 2020 and is expected to grow at a significant rate during the forecast period due to the wide presence of automotive manufacturers across the country.

Automobile tires are used to improve the vehicle's safety and drivability, as well as to make the driver more comfortable and keep passengers safe while driving. Automobile tires are available in a wide range of sizes and types, as well as for a wide range of applications. A tire is a durable, flexible rubber casing that is placed to the wheels of vehicles such as passenger cars, commercial vehicles, and two-wheelers, among other automobiles, to provide a gripping surface for traction and to cushion the moving vehicle's wheels. The booming automotive fleet, growing middle-income population, expanding transportation infrastructure, and rising automotive exports in Southeast Asian countries have all contributed to strong increase in tire production across the region in recent years. Furthermore, the development of several export hubs in the region offers a promising opportunity for automobile tire manufacturers to expand their production capacities.

The report offers detailed segmentation of the Southeast Asian tire market based on type, vehicle type, rim size, and country.

Based on type, the all season segment held the highest market share in 2020, holding 92% of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the summer segment is estimated to register the highest CAGR of 7.5% from 2021 to 2030.

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Based on vehicle type, the two wheeler segment held the largest market share in 2020, holding around more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the electric vehicle segment is projected to register the highest CAGR of 10.8% from 2021 to 2030.

The factors, such as high rubber production in the Southeast Asian region, and growing automotive exports, and rising passenger car sales, are expected to drive the Southeast Asian tire market. However, development in the market of retreading tires and lack of infrastructure are expected to restrict the growth of the market during the forecast period. Moreover, rise in southeast Asian government initiatives to increase automotive component manufacturing, and advancement in technology are the factors anticipated to supplement the southeast Asian tire market growth.

🌏 Country-wise Insights: Thailand Leads, Vietnam Accelerates

Thailand: Market Leader
Thailand emerged as the top revenue contributor in the Southeast Asian tire market in 2020, accounting for nearly one-third of the total market share, valued at $2.68 billion.

✅ Position: Regional leader in tire manufacturing and exports

🔮 Outlook: Expected to maintain dominance, reaching $4.59 billion by 2030

📊 CAGR: Steady growth at 5.8% during the forecast period

Vietnam: Fastest Growing Market
Vietnam is projected to register the fastest compound annual growth rate (CAGR) in the region.

🚀 Growth Rate: Leading with a CAGR of 7.3% from 2020 to 2030

🌱 Drivers: Rapid industrialization, rising vehicle ownership, and investment in domestic tire production

📈 Future Outlook: Poised to emerge as a key growth hotspot in ASEAN's tire market landscape

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🏭 Key Players in the Southeast Asian Tire Market

🌐 Global Tire Manufacturers

Bridgestone Corporation

Continental AG

Dunlop Tires

Goodyear Tire & Rubber Company

Hankook Tire & Technology Co., Ltd.

Michelin Group

Pirelli & C. S.p.A

Sumitomo Rubber Industries, Ltd.

The Yokohama Rubber Co., Ltd.

🌏 Regional & ASEAN-Based Leaders

PT Gajah Tunggal Tbk (Indonesia)

PT Multistrada Arah Sarana Tbk (Indonesia)

PT. Suryaraya Rubberindo Industries (Indonesia)

PT Tiga Berlian Mandiri (Indonesia)

Inoac Corporation (With operations across ASEAN)

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