South Korea has emerged as a major market for automotive tires in Asia-Pacific over the last few years. On account of significant industrial growth, the country’s automotive industry has been flourishing at a rapid pace. This is evident from the fact that South Korea is the fifth largest passenger car manufacturer in the world. As a result, the country has been registering significant growth in tire volume sales over the last five years. The government’s announcement of reduction in individual consumption tax on car purchase is expected to further boost tire sales in the country in the coming years. However, the country lacks in indigenous tire manufacturing units due to scarcity of natural rubber, and hence, depends largely on natural rubber imports from Thailand, Indonesia, Vietnam, Malaysia and the Philippines. 

According to “South Korea Tyre Market Forecast & Opportunities, 2020”, the tire market in South Korea is forecast to reach around US$ 5 billion in 2017. Growing vehicle exports, increasing adoption of electric vehicles and favorable government initiatives are expected to propel the market over the next five years. With a majority share in South Korea’s tire market, the passenger car tire segment is the most dominant tire segment in the country’s tire market. Since major global automobile manufacturers like Hyundai, General Motors, Renault Samsung, Daelim and Doosan have a significant presence in South Korea, the demand for tires from the OEM segment exceeds replacement sales. Northern region comprising Seoul, Incheon, Gyeonggi province and Gangwon province is the largest tire market in South Korea as the region is the political and industrial hub of the country, which makes it an attractive investment destination for leading global players operating in diverse industry segments including automobile and allied industries. “South Korea Tyre Market Forecast & Opportunities, 2020” discusses the following aspects about the tire market in South Korea:

  • South Korea Tire Market Size, Share & Forecast
  • Segmental Analysis – Passenger Car Tires, Commercial Vehicle Tires, Two-Wheeler Tire & OTR Tires
  • Policy and Regulatory Landscape
  • Changing Market Trends & Emerging Opportunities
  • Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
  • To gain an in-depth understanding of tire market in South Korea
  • To identify the on-going trends and segment wise anticipated growth in the coming years
  • To help industry consultants, tire companies and other stakeholders align their market-centric strategies
  • To obtain research based business decision and add weight to presentations and marketing material
  • To gain competitive knowledge of leading players
  • To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer’s specific needs
Report Methodology 

The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tire distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

1.     Research Methodology

2.     Analyst View

3.     Tyre Market & Product Overview

4.     South Korea Tyre Market Outlook

4.1.   Market Size & Forecast

4.1.1. By Value

4.1.2. By Volume

4.2.   Market Share & Forecast

4.2.1. By Vehicle Type

4.2.2. By Company

4.2.3. By Region

5.     South Korea Passenger Car Tyre Market Outlook

5.1.   Market Size & Forecast

5.1.1. By Value

5.1.2. By Volume

5.2.   Market Share & Forecast

5.2.1. By Vehicle Type

6.     South Korea Commercial Vehicle Tyre Market Outlook

6.1.   Market Size & Forecast

6.1.1. By Value

6.1.2. By Volume

6.2.   Market Share & Forecast

6.2.1. By Vehicle Type

7.     South Korea Two-Wheeler Tyre Market Outlook

7.1.   Market Size & Forecast

7.1.1. By Value

7.1.2. By Volume

7.2.   Market Share & Forecast

7.2.1. By Vehicle Type

8.     South Korea OTR Tyre Market Outlook & Forecast

8.1.   Market Size & Forecast

8.1.1. By Value

8.1.2. By Volume

8.2.   Market Share & Forecast

8.2.1. By Vehicle Type

9.     South Korea Tyre Market Raw Material Analysis

10.  Tyre Trade Analysis

10.1.Export Analysis

10.2.Import Analysis

11.  Market Dynamics

11.1.Market Drivers

11.2.Market Challenges

12.  Policy & Regulatory Landscape

13.  Market Trends & Developments

13.1.Winter Tyres

13.2.Tyre Pressure Monitoring System

13.3.Growth in Retreaded Tyre Market

14.  South Korea Economic Profile

15.  Competitive Landscape

15.1.Hankook Tire Co.

15.2.KumhoTyre Co. Inc.

15.3.NexenTyre Corporation

15.4.Bridgestone Tire Sales Korea Co., Ltd.

15.5.Michelin Korea Co. Ltd.

15.6.Goodyear Korea Co. Ltd.

15.7.Continental Automotive Korea Ltd.

15.8.Pirelli & C. SpA

15.9.Yokohama Tire Korea Co. Ltd.

16.  Strategic Recommendations

  • List of Figures

     

    Figure 1: South Korea Tyre Market Size, By Value, 2010-2014 (USD Million)

    Figure 2: South Korea Tyre Market Size, By Value, 2015E–2020F (USD Million)

    Figure 3: South Korea Tyre Market Size, By Volume, 2010–2014 (Million Units)

    Figure 4: South Korea Tyre Market Size, By Volume, 2015E–2020F (Million Units)

    Figure 5: South Korea Tyre Market Share, By Vehicle Type, By Volume, 2014

    Figure 6: South Korea Tyre Market Share, By Vehicle Type, By Volume, 2020F

    Figure 7: South Korea Tyre Market Share, By Company, By Volume, 2014

    Figure 8: South Korea Tyre Market Share, By Company, By Volume, 2020F

    Figure 9: South Korea Tyre Market Share, By Region, By Volume, 2014 & 2020F

    Figure 10: South Korea Passenger Car Tyre Market Size, By Value, 2010–2014 (USD Million)

    Figure 11: South Korea Passenger Car Tyre Market Size, By Value, 2015E–2020F (USD Million)

    Figure 12: South Korea Passenger Car Tyre Market Size, By Volume, 2010-2014 (Million Units)

    Figure 13: South Korea Passenger Car Tyre Market Size, By Volume, 2015E–2020F (Million Units)

    Figure 14: South Korea Passenger Car Tyre Market Share, By Vehicle Type, By Volume, 2014

    Figure 15: South Korea Passenger Car Tyre Market Share, By Vehicle Type, By Volume, 2020F

    Figure 16: South Korea Commercial Vehicle Tyre Market Size, By Value, 2010–2014 (USD Million)

    Figure 17: South Korea Commercial Vehicle Tyre Market Size, By Value, 2015E-2020F (USD Million)

    Figure 18: South Korea Commercial Vehicle Tyre Market Size, By Volume, 2010–2014 (Million Units)

    Figure 19: South Korea Commercial Vehicle Tyre Market Size, By Volume, 2015E–2020F (Million Units)

    Figure 20: South Korea Commercial Vehicle Tyre Market Share, By Vehicle Type, By Volume, 2014

    Figure 21: South Korea Commercial Vehicle Tyre Market Share, By Vehicle Type, By Volume, 2020F

    Figure 22: South Korea Two-Wheeler Tyre Market Size, By Value, 2010–2014 (USD Million)

    Figure 23: South Korea Two-Wheeler Tyre Market Size, By Value, 2015E–2020F (USD Million)

    Figure 24: South Korea Two-Wheeler Tyre Market Size, By Volume, 2010–2014 (Million Units)

    Figure 25: South Korea Two-Wheeler Tyre Market Size, By Volume, 2015E–2020F (Million Units)

    Figure 26: South Korea Two-Wheeler Tyre Market Share, By Vehicle Type, By Volume, 2014

    Figure 27: South Korea Two-Wheeler Tyre Market Share, By Vehicle Type, By Volume, 2020F

    Figure 28: South Korea OTR Tyre Market Size, By Value, 2010–2014 (USD Million)

    Figure 29: South Korea OTR Tyre Market Size, By Value, 2015E–2020F (USD Million)

    Figure 30: South Korea OTR Tyre Market Size, By Volume, 2010-2014 (Million Units)

    Figure 31: South Korea OTR Tyre Market Size, By Volume, 2015E-2020F (Million Units)

    Figure 32: South Korea OTR Tyre Market Share, By Vehicle Type, By Volume, 2014

    Figure 33: South Korea OTR Tyre Market Share, By Vehicle Type, By Volume, 2020F

    Figure 34: South Korea Tyre Exports, By Value (USD Million)

    Figure 35: South Korea Tyre Exports, By Volume (Million Units)

    Figure 36: South Korea Tyre Imports, By Value (USD Million)

    Figure 37: South Korea Tyre Imports, By Volume (Million Units)

     

    List of Tables

     

    Table 1: South Korea OEM Vs. Replacement WASP of Automotive Tyre, By Segment, 2014 & 2020F (USD)

    Table 2: South Korea Natural Rubber Imports and Exports, By Value (USD Million)

    Table 3: South Korea Natural Rubber Imports and Exports, By Volume (Million Kg)

    Table 4: South Korea Synthetic Rubber Imports and Exports, By Value (USD Million)

    Table 5: South Korea Synthetic Rubber Imports and Exports, By Volume (Million Kg)

    Table 6: South Korea Major Tyre Raw Material Producers & Consolidated Production in Value Terms, 2012 (USD Million)