Australia Tire Market to Grow with a CAGR of 4.2% during the forecast period.
The Australia Tire Market
is driven by the growing demand for advanced and eco-friendly tire solutions, a
rise in vehicle ownership, and the growing automotive aftermarket sector. These
are the factors driving the market in the forecast period 2026-2030.
According to TechSci Research report, “Australia Tire Market By
Vehicle Type, By Tire Construction Type, By Sales Channel, By Region,
Competition Forecast & Opportunities”, The Australia Alloy Wheels
Market was valued at USD 2.40 Billion in 2024 and is expected to reach USD 3.08
Billion by 2030 with a CAGR of 4.2% during the forecast period. The growth of
the Australia tire market is primarily supported by the increase in vehicle
sales and ownership in the region. The automotive aftermarket sector has also
seen a rise, contributing to the growing demand for tire replacements and the
availability of more specialized products. Alongside this, tire technology
advancements are playing a crucial role, as consumers seek more durable and
energy-efficient tires. The eco-friendly aspect of these innovations, such as
those designed for electric vehicles, has gained considerable attention.
There is also a noticeable shift in consumer purchasing habits. Many are
turning to online platforms for tire purchases due to the convenience and
competitive prices available. This trend is fostering greater access to tires
and tire-related services. The market is also being driven by increased
consumer demand for tires with enhanced fuel efficiency, long lifespan, and
lower environmental impact. However, the market does face challenges, such as
the volatility in raw material prices, particularly in rubber. This, combined
with fluctuating fuel costs, can impact overall market demand. Despite these
hurdles, opportunities remain in tire innovations, particularly those geared
toward sustainability. These opportunities are expected to help drive market
growth in the coming years.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on "Australia Alloy Wheels Market"
Australia
Alloy Wheels Market Is Segmented by Vehicle Type, Tire Construction Type, Sales
Channel, and By Region.
The Australia tire market is divided into two main sales channels:
offline and online. Offline sales continue to dominate, driven by the strong
presence of tire retailers, automotive service providers, and physical tire
dealers. Consumers who prefer to inspect products physically, get expert
advice, and have the tires installed on-site typically opt for this channel.
Offline sales also benefit from the network of local dealers and workshops
offering tire-related services, providing a sense of trust and reliability to
consumers. On the other hand, online sales are rapidly growing due to
convenience and competitive pricing. Online platforms offer consumers the
ability to shop for tires from the comfort of their homes, with a wide range of
options and detailed product specifications. The increasing number of online
tire retailers, coupled with consumer preference for e-commerce, is
contributing to the growing popularity of this sales channel. Additionally,
online platforms often provide delivery services, further enhancing the customer
experience by offering home installation options or partnerships with local
service providers. Both sales channels are essential for the tire market in
Australia, with the offline segment continuing to be the more traditional
method of purchase, while online sales are experiencing rapid growth due to
changing consumer behaviors and technological advancements.
In terms of regional growth, the Asia-Pacific region is expected to be
the fastest-growing in 2024. This growth is primarily driven by the rising
demand for automotive products, including tires, in emerging economies like
China, India, and Southeast Asian countries. The region's expanding automotive
market, particularly the increase in vehicle sales, has directly contributed to
the increased demand for tires. Furthermore, the growing interest in electric
vehicles (EVs) in this region is fostering the need for specialized tires
designed for EVs. The Asia-Pacific market is also experiencing a shift towards
the adoption of advanced tire technologies that enhance fuel efficiency and
reduce environmental impact. These factors combined have positioned
Asia-Pacific as a key growth region within the global tire market. Moreover,
ongoing infrastructural developments and increasing disposable income are
fueling the demand for new vehicles and, consequently, tires, further
propelling growth in the Asia-Pacific region.
Major Market Players
Operating in Australia Alloy Wheels Market Are:
- Bridgestone Corporation
- Michelin Group
- Goodyear Tire & Rubber Company
- Continental AG
- Pirelli & C. S.p.A.
- Toyo Tire Corporation
- Hankook Tire & Technology Co., Ltd.
- Cooper Tire & Rubber Company
- Yokohama Rubber Company
- Sumitomo Rubber Industries, Ltd.
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The growing demand for durable and high-performance
tires in Australia, driven by the expansion of the automotive and aftermarket
sectors, is fueling the growth of the Australia Tire Market. Manufacturers are
focusing on developing tires with improved durability, fuel efficiency, and
performance characteristics to meet consumer needs. With the increasing
adoption of electric and hybrid vehicles, alongside stricter government
regulations on fuel efficiency and emissions, there is a shift towards incorporating
advanced tire technologies. These innovations are designed to enhance vehicle
performance, improve safety, and reduce environmental impact. As both consumers
and vehicle manufacturers prioritize efficiency, sustainability, and
performance, the demand for high-tech, eco-friendly tire solutions is expected
to rise steadily. This trend is expected to significantly contribute to market
growth in the coming years, according to Mr. Karan Chechi, Research Director at
TechSci Research, a global management consulting firm.
The report titled “Australia Tire Market By Vehicle
Type (Passenger Car, LCV, M&HCV, OTR and Two-Wheeler), By Tire Construction
Type (Radial and Bias), By Sales Channel (Offline and Online), By Region,
Competition Forecast & Opportunities, 2020-2030F”, assesses the market's
future growth potential and provides data on market size, trends, and
forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the Australia
Alloy Wheels Market.
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