Press Release

China to Continue Dominating APAC Ultra High-Performance (UHP) Tire Market through 2023

Rising demand for premium vehicles along with enhanced performance and safety features UHP tires to boost UHP tires across Asia-Pacific through 2023

According to TechSci Research report, APAC Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2013-2023, UHP tire market in Asia-Pacific is projected to cross $ 8 billion by 2023 on account of increasing sales of premium (passenger cars and motorcycles) vehicles due to rising per capita and living standards of people in various countries of the Asia-Pacific region. Moreover, UHP tires offer better performance and have enhanced safety features in comparison to other tires, which is further expected to fuel their demand across Asia-Pacific in the coming years. Rising presence of various companies such as Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental AG, etc., and their increasing operations in Asia-Pacific tire industry is anticipated to intensify competition in the country’s UHP tire market over the next five years.

Browse 53 market data Figures and Tables spread through 80 Pages and an in-depth TOC on "Asia-Pacific Ultra High-Performance (UHP) Tire Market"

Among countries, China dominated Asia-Pacific UHP tire market with majority of the market  share in 2017.  The country is anticipated to maintain its dominance during forecast period as well on the back of rising inclination of people towards premium vehicles and increasingly strong and efficient road infrastructure of the country. On the basis of vehicle type, Asia-Pacific UHP tire market is segmented into passenger cars and two-wheelers, of which the former accounts for the lion’s share in the market due to expanding passenger car fleet backed by rising per capita income and growing number of nuclear families across the region. 

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“Increasing passenger car sales and production across various countries of Asia-Pacific is pushing demand for UHP tires across the region. Moreover, a growing number of leading automakers are showing increasing inclination towards UHP tires, which is expected to positively influence OEM demand in Asia-Pacific UHP tire market over the next five years. Additionally, growing demand for SUVs and CUVs would steer growth in the region’s UHP tire market during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

APAC Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2013-2023 has analyzed the potential of UHP tire market across Asia-Pacific, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by Asia-Pacific UHP tire market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.



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