Vietnam tire market is estimated to grow at CAGR of 6.27% through 2025 on account of increasing automobile production & assembly, expanding fleet size and easy availability of natural rubber in the country. Booming construction and logistics sectors are expected to drive the demand for heavy, medium and light trucks in the country, and consequently boost tire sales as well over the next five years. In addition to this, rise in foreign investments in the country’s automotive sector is also providing profitable growth opportunities for tire manufacturers. 

Vietnam tire market is segmented based on vehicle type, demand category, radial vs bias, and region. Based on demand category, the market can be categorized into OEMs vs replacement. Among the two, replacement segment dominated the Vietnam tire market in 2019 with a market share of 67.16% due to high demand and the trend is likely to continue until 2025.

Major companies operating in Vietnam tire market are Danang Rubber Joint Stock Company, The Southern Rubber Industry JSC, Bridgestone Tire Sales Vietnam Limited Liability Company, Yokohama Tyre Vietnam Inc., Michelin Vietnam Co., Ltd., SAO VANG RUBBER JOINT STOCK COMPANY, Kumho Tire Co., Ltd. Vietnam, Continental Ag, Goodyear Vietnam Co. Ltd. and Cheng Shin Rubber (Vietnam) Ind. Ltd. Tire manufacturers or companies are continuing investment in developing nations such as Vietnam due to low cost of labor and reduced manufacturing costs, in order to offer tires at competitive prices. Besides, companies are engaging in product launches, mergers, and partnerships to increase their share in the market.

Years considered for this report:

Historical Years: 2015-2018

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2021–2025

Objective of the Study:

  • To analyze and forecast the market size of Vietnam tire market.
  • To classify and forecast Vietnam tire market based on vehicle type, demand category, radial vs bias, company and region.
  • To identify drivers and challenges for Vietnam tire market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam tire market.
  • To identify and analyze the profile of leading players involved in the manufacturing tires in Vietnam.

 

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To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of tire dealers operating in the country. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings, distribution channels and regional presence of all major tire suppliers across Vietnam.

TechSci Research calculated the market size for Vietnam tire using a bottom-up technique, wherein manufacturers’ volume sales data for different applications, was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, databases such as ASEAN Automotive Federation, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Tire manufacturers, suppliers, distributors and other stakeholders
  • Vehicle manufacturing companies
  • Raw material suppliers
  • Associations, organizations, forums and alliances related to tires
  • Government bodies such as regulatory authorities and policy makers
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as vehicle manufacturers, distributors and dealers, and policy makers. The study would also help the stakeholders to target the growing segments over the coming years, thereby aiding them in taking investment decisions and facilitating their expansion.

Report Scope:

In this report, Vietnam tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Vietnam Tire Market, By Vehicle Type:

o    Passenger Car

o    Two-Wheeler

o    Medium & Heavy Commercial Vehicle

o    Light Commercial Vehicle

o    Off-The-Road Vehicle (OTR)

o    Three-Wheeler

  • Vietnam Tire Market, By Demand Category:
    • OEM
    • Replacement
  • Vietnam Tire Market, By Radial vs Bias
  • Vietnam Tire Market, By Region:
    • North Vietnam
    • South Vietnam
    • Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Vietnam tire market.

Available Customizations:

With the given market data, TechSci Research offers customizations according a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Profit Margin Analysis

  • Profit margin analysis in case of direct and indirect sales channel.

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Vietnam Tire Market

4.    Executive Summary

5.    Voice of Customer

5.1.  Brand Awareness & Recall

5.2.  Brand Satisfaction

5.3.  Challenges & Unmet Needs

6.    Vietnam Tire Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-wheeler and Three -wheeler)

6.2.2.     By Demand Category (OEM Vs. Replacement)

6.2.3.     By Radial Vs Bias

6.2.4.     By Company (2019)

6.2.5.     By Region

6.3.  Market Attractiveness Index

6.3.1.     By Vehicle Type

7.    Vietnam Passenger Car Tire Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Vehicle Type

7.2.2.     By Demand Category

7.2.3.     By Radial Vs Bias

7.2.4.     By Tire Size

7.3.  Market Attractiveness Index

7.3.1.     By Price Segment

8.    Vietnam Two-Wheeler Tire Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Vehicle Type

8.2.2.     By Demand Category

8.2.3.     By Radial Vs Bias

8.2.4.     By Tire Size

8.3.  Market Attractiveness Index

8.3.1.     By Price Segment

9.    Vietnam Medium & Heavy Commercial Vehicle Tire Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value & Volume

9.2.  Market Share & Forecast

9.2.1.     By Vehicle Type

9.2.2.     By Demand Category

9.2.3.     By Radial Vs Bias

9.2.4.     By Tire Size

9.3.  Market Attractiveness Index

9.3.1.     By Price Segment

10.  Vietnam Light Commercial Vehicle Tire Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value & Volume

10.2.              Market Share & Forecast

10.2.1.  By Vehicle Type

10.2.2.  By Demand Category

10.2.3.  By Radial Vs Bias

10.2.4.  By Tire Size

10.3.              Market Attractiveness Index

10.3.1.  By Price Segment

11.  Vietnam OTR Tire Market Outlook

11.1.              Market Size & Forecast

11.1.1.  By Value & Volume

11.2.              Market Share & Forecast

11.2.1.  By Vehicle Type

11.2.2.  By Demand Category

11.2.3.  By Radial Vs Bias

11.2.4.  By Tire Size

11.3.              Market Attractiveness Index

11.3.1.  By Price Segment

12.  Vietnam Three-Wheeler Tire Market Outlook

12.1.              Market Size & Forecast

12.1.1.  By Value & Volume

12.2.              Market Share & Forecast

12.2.1.  By Vehicle Type

12.2.2.  By Demand Category

12.2.3.  By Radial Vs Bias

12.2.4.  By Tire Size

12.3.              Market Attractiveness Index

12.3.1.  By Price Segment

13.  Market Dynamics

13.1.              Drivers

13.2.              Challenges

14.  Import Export Analysis

15.  Market Trends & Developments

16.  Policy and Regulatory & Landscape

17.  Vietnam Economic Profile

18.  Competitive Landscape

18.1.              Competition Outlook

18.2.              Players Profiled (Leading Companies)

18.2.1.  Danang Rubber Joint Stock Company

18.2.1.1.      Company Overview

18.2.1.2.      Products & Services

18.2.1.3.      Financials (If available)

18.2.1.4.      Current & Future Strategy

18.2.1.5.      Key Management

18.2.1.6.      Contact Details

18.2.2.  The Southern Rubber Industry JSC

18.2.3.  Bridgestone Tire Sales Vietnam Limited Liability Company

18.2.4.  Yokohama Tyre Vietnam Inc.

18.2.5.  Michelin Vietnam Co., Ltd.

18.2.6.  SAO VANG RUBBER JOINT STOCK COMPANY

18.2.7.  Kumho Tire Co., Ltd. Vietnam

18.2.8.  Continental Ag

18.2.9.  Goodyear Vietnam Co. Ltd.

18.2.10.                Cheng Shin Rubber (Vietnam) Ind. Ltd.

15. Strategic Recommendations

16. About Us & Disclaimer

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

  • List of Figures

     

    Figure 1: Vietnam Tire Market - Factors Influencing Purchase Decision (N=75)

    Figure 2: Vietnam Tire Market - Aided Brand Recall (N=75)

    Figure 3: Vietnam Tire Market - Unaided Brand Recall (N=75)

    Figure 4: Vietnam Tire Market - Brand Switching (N=75)

    Figure 5: Vietnam Tire Market - Brand Switching Attributes (N=75)

    Figure 6: Vietnam Tire Market - Brand Satisfaction Level, By Stability on Road (N=75)

    Figure 7: Vietnam Tire Market - Brand Satisfaction Level, By Vehicle Compatibility (N=75)

    Figure 8: Vietnam Tire Market - Brand Satisfaction Level, By Performance (N=75)

    Figure 9: Vietnam Tire Market - Brand Satisfaction Level, By Pricing (N=75)

    Figure 10: Vietnam Tire Market - Brand Satisfaction Level, By Lifetime (N=75)

    Figure 11: Vietnam Tire Market Size, By Value (USD Billion), By Volume (Million Units) 2015-2025F

    Figure 12: Vietnam Tire Market Share, By Vehicle Type, By Volume, 2015-2025F

    Figure 13: Vietnam Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 14: Vietnam Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 15: Vietnam Tire Market Share, By Rim Size (In Inches), By Volume, By Vehicle Type, 2019 & 2025F

    Figure 16: Vietnam Tire Market Share, By Rim Size (In Inches), By Volume, By Vehicle Type, 2019 & 2025F

    Figure 17: Vietnam Tire Market Share, By Rim Size (In Inches), By Volume, By Vehicle Type, 2019 & 2025F

    Figure 18: Vietnam Tire Market Share, By Rim Size (In Inches), By Volume, By Vehicle Type, 2019 & 2025F

    Figure 19: Vietnam Tire Market Share, By Price Segment, By Volume, By Vehicle Type, 2019 & 2025F

    Figure 20: Vietnam Tire Market Share, By Price Segment, By Volume, By Vehicle Type, 2019 & 2025F

    Figure 21: Vietnam Tire Market Share, By Price Segment, By Volume, By Vehicle Type, 2019 & 2025F

    Figure 22: Vietnam Tire Market Share, By Price Segment, By Volume, By Vehicle Type, 2019 & 2025F

    Figure 23: Vietnam Tire Market Share, By Company, By Volume, 2019-2025F

    Figure 24: Vietnam Tire Market Share, By Region, By Volume, 2019-2025F

    Figure 25: Vietnam Tire Market Share, By Region, By Volume, 2019 & 2025F

    Figure 26: Vietnam Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2019-2025F

    Figure 27: Vietnam Two-Wheeler Tire Market Size, By Value (USD Million), By Volume (Million Units) 2015-2025F

    Figure 28: Vietnam Two-wheeler Tire Market Share, By Vehicle Type, By Volume, 2019-2025F

    Figure 29: Vietnam Two-Wheeler Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 30: Vietnam Two-Wheeler Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 31: Vietnam Two-Wheeler Tire Market Share, By Rim Size (In Inches), By Volume, 2019-2025F

    Figure 32: Vietnam Two-Wheeler Tire Market Share, By Tire Size, By Volume, 2019

    Figure 33: Vietnam Two-Wheeler Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2019-2025F

    Figure 34: Vietnam Passenger Car Tire Market Size, By Value (USD Million), By Volume (Million Units) 2015-2025F

    Figure 35: Vietnam Passenger Car Tire Market Share, By Vehicle Type, By Volume, 2019-2025F

    Figure 36: Vietnam Passenger Car Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 37: Vietnam Passenger Car Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 38: Vietnam Passenger Car Tire Market Share, By Rim Size (In Inches), By Volume, By Vehicle Type, 2019-2025F

    Figure 39: Vietnam Passenger Car Tire Market Share, By Tire Size, By Volume, 2019

    Figure 40: Vietnam Passenger Car Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2019-2025

    Figure 41: Vietnam Light Truck Tire Market Size, By Value (USD Billion), By Volume (Million Units) 2015-2025F

    Figure 42: Vietnam Light Truck Tire Market Share, By Vehicle Type, By Volume, 2019-2025F

    Figure 43: Vietnam Light Truck Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 44: Vietnam Light Truck Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 45: Vietnam Light Truck Tire Market Share, By Rim Size (In Inches), By Volume, 2019-2025F

    Figure 46: Vietnam Light Truck Tire Market Share, By Tire Size, By Volume, 2019

    Figure 47: Vietnam Light Truck Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2019-2025F

    Figure 48: Vietnam OTR Tire Market Size, By Value (USD Billion), By Volume (Million Units) 2015-2025F

    Figure 49: Vietnam OTR Tire Market Share, By Vehicle Type, By Volume, 2019-2025F

    Figure 50: Vietnam OTR Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 51: Vietnam OTR Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 52: Vietnam OTR Tire Market Share, By Rim Size (In Inches), By Volume, 2019-2025F

    Figure 53: Vietnam OTR Tire Market Share, By Tire Size, By Volume, 2019

    Figure 54: Vietnam OTR Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2019-2025F

    Figure 55: Vietnam Heavy Truck Tire Market Size, By Value (USD Billion), By Volume (Million Units) 2015-2025F

    Figure 56: Vietnam Heavy Truck Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 57: Vietnam Heavy Truck Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 58: Vietnam Heavy Truck Tire Market Share, By Rim Size (In Inches), By Volume, 2019-2025F

    Figure 59: Vietnam Heavy Truck Tire Market Share, By Tire Size, By Volume, 2019

    Figure 60: Vietnam Medium Truck Tire Market Size, By Value (USD Billion), By Volume (Million Units) 2015-2025F

    Figure 61: Vietnam Medium Truck Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 62: Vietnam Medium Truck Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 63: Vietnam Medium Truck Tire Market Share, By Rim Size (In Inches), By Volume, 2019-2025F

    Figure 64: Vietnam Medium Truck Tire Market Share, By Tire Size, By Volume, 2019-2025F

    Figure 65: Vietnam Bus Tire Market Size, By Value (USD Billion), By Volume (Million Units) 2015-2025F

    Figure 66: Vietnam Bus Tire Market Share, By Vehicle Type, By Volume, 2015-2025F

    Figure 67: Vietnam Bus Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

    Figure 68: Vietnam Bus Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

    Figure 69: Vietnam Bus Tire Market Share, By Rim Size (In Inches), By Volume, 2019-2025F

    Figure 70: Vietnam Bus Tire Market Share, By Tire Size, By Volume, 2019-2025F

    Figure 71: Vietnam Bus Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2019-2025F

    Figure 72: Vietnam Three-Wheeler Tire Market Size, By Value (USD Billion), By Volume (Million Units) 2015-2025F

     Figure 73: Vietnam Three-Wheeler Tire Market Share, By Vehicle Type, By Volume, 2015-2025F

      Figure 74: Vietnam Three-Wheeler Tire Market Share, By Demand Category (OEM Vs. Replacement), By Volume, 2015-2025F

     Figure 75: Vietnam Three-Wheeler Tire Market Share, By Radial Vs. Bias, By Volume, 2019-2025F

     Figure 76: Vietnam Three-Wheeler Tire Market Share, By Rim Size (In Inches), By Volume, 2019-2025F

     Figure 77: Vietnam Three-Wheeler Tire Market Share, By Tire Size, By Volume, 2019-2025F

     Figure 78: Vietnam Three-Wheeler Tire Market Attractiveness Index, By Vehicle Type, By Volume, 2019-2025F

     Figure 79: Vietnam Tire Imports, By Value, 2014-2019 (USD Million)

     Figure 80: Vietnam Passenger Car Tire Imports, By Value, 2014-2019 (USD Million)

     Figure 81: Vietnam Commercial Vehicle Tire Imports, By Value, 2014-2019 (USD Million)

    Figure 82: Vietnam Two-Wheeler Tire Imports, By Value, 2014-2019 (USD Million)

     Figure 83: Vietnam Tire Import Share, By Vehicle Type, By Value, 2018

     Figure 84: Vietnam Tire Exports, By Value, 2014-2019 (USD Million)

     Figure 85: Vietnam Passenger Car Tire Exports, By Value, 2014-2019 (USD Million)

     Figure 86: Vietnam Commercial Vehicle Tire Exports, By Value, 2014-2019 (USD Million)

     Figure 87: Vietnam Two-Wheeler Tire Exports, By Value, 2014-2019 (USD Million)

     Figure 88: Vietnam Tire Export Share, By Vehicle Type, By Value, 2018

     Figure 89: Vietnam Rubber Production, By Volume, 2014-2019 (Million Tons)

     

    List of Tables

     

    Table 1: Vietnam Tire Production, By Region, By Country, By Company & Plant Location, 2018

    Table 2: Vietnam Vehicle Fleet (Car, CV), By Volume, 2014-2015 (Thousand Units)