Philippines Tire Market (2019-2025) | Outlook, industry, Size, Share, Value, Growth, Trends & Revenue

Market Forecast By Origin (Local Manufacturing and Imports), By Vehicle Types (Trucks (Radial and Bias), Light Trucks (Radial and Bias), Passenger Cars and Two-Wheelers )) and by Competitive Landscape

Product Code: ETC000577	Publication Date: Feb 2023	Updated Date: May 2024	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 100	No. of Figures: 56	No. of Tables: 5

Philippines Tire Market Competition 2023

Philippines Tire market currently, in 2023, has witnessed an HHI of 2306, Which has increased slightly as compared to the HHI of 2089 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Philippines Export Potential Assessment For Tire Market (Values in USD Thousand)

Latest 2023 Development of the Philippines Tire Market

Philippine Tire Market has been undergoing several developments in recent years. For instance, the expansion of local tire manufacturers to meet the growing demand for tires in the country. For example, a Philippine oil and gas company has recently announced plans to invest in a new tire manufacturing facility. Additionally, several new tire brands have entered the Philippine market and offering consumers a wide array of options. The Philippine Tire Industry is becoming more focused on sustainability and many manufacturers are investing in eco-friendly technologies and materials to reduce their carbon footprint.

The popularity of online shopping is increasing and tire sales through e-commerce platforms are expected to grow in the years to come. Moreover, tire manufacturers are developing smart tires that are equipped with sensors and other advanced technologies. These features provide real-time data on tire pressure and performance. The government has been supporting the tire industry in the Philippines through initiatives such as tax incentives and investment in research and development. These developments are projected to proliferate the growth of the Philippine tire market in the upcoming years and offer several new opportunities for manufacturers and suppliers as well.

Philippines Tire Market Synopsis

The Philippines has witnessed strong growth in tire sales in recent years on account of the rising automotive fleet due to the growing income of the middle-class population coupled with the developing transportation infrastructure. An increase in vehicle sales and consumer spending would continue to be the key drivers behind the growth of the Philippines tire market over the coming years. In addition, government plans such as the "Build, Build, Build" program are also expected to present a vast business potential for the tire industry in the country.

According to 6Wresearch, The Philippines Tire Market Size is projected to grow at a CAGR of 13.3% during 2019-2025. Increasing disposable income of vehicle owners, growing automotive demand and the rapidly growing requirement for electric vehicles in the region would offer favourable opportunities for the tire market growth in the Philippines during the forecast period. On account of increasing sales of all kinds of vehicles owing to low life cycle cost and better puncture resistance, radial tires would be the major revenue-generating segment in the Philippines tire market forecast period.

Philippines Tire Market Overview

Truck tires are the leading revenue-generating segment in the overall Philippines tire market share. Further, the government's push for infrastructure development in the country would lift the demand for trucks which would eventually lead to higher demand for truck tires during the forecast period. However, with increasing consumer spending, the passenger cars segment is expected to grow at the fastest rate among all kinds of vehicles during the forecast period.

The Philippines tire market report thoroughly covers the market by tire types, vehicle types and by origin. The Philippines tire market outlook report provides an unbiased and detailed analysis of the ongoing Philippines tire market trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics

Philippines tire market is anticipated to register sound revenues is projected to register sound revenues in the forthcoming years on the back of the rising registration of passenger vehicles owing to an increased domestic population and tourist influx in the country which is estimated to instigate the growth of the tire market in the coming timeframe. Also, the rising commercial vehicles movement in the country is leading to leave a positive impact on the Philippines tire market in the upcoming six years.

Key Highlights of the Report:

Philippines Tire Market Overview
Philippines Tire Market Outlook
Philippines Tire Market Size and Philippines Tire Market Forecast
Historical Data of Philippines Tire Market Revenues & Volume for the Period 2016-2018
Philippines Tire Market forecast of Revenues & Volume for the Period 2019-2025
Historical Data of Philippines Tire Market Revenues & Volume for the Period 2016-2018, By Local Manufacturing
Market Size and Forecast of Philippines Tire Market Revenues & Volume for the Period 2019-2025, By Local Manufacturing
Historical Data of Philippines Tire Market Revenues & Volume for the Period 2016-2018, By Import
Philippines Tire Market Forecast Revenues & Volume for the Period 2019-2025, By Import
Historical Data of Philippines Radial Tire Market Revenues & Volume for the Period 2016-2018
Market Size and Forecast of Philippines Radial Tire Market Revenues & Volume for the Period 2019-2025
Historical Data of Philippines Bias Tire Market Revenues & Volume for the Period 2016-2018
Market Size and Forecast of Philippines Bias Tire Market Revenues & Volume for the Period 2019-2025
Historical Data of Philippines Trucks Tire Market Revenues & Volume for the Period 2016-2018
Market Size and Forecast of Philippines Trucks Tire Market Revenues & Volume for the Period 2019-2025
Historical Data of Philippines Light Trucks Tire Market Revenues & Volume for the Period 2016-2018
Market Size and Forecast of Philippines Light Trucks Tire Market Revenues & Volume for the Period 2019-2025
Historical Data of Philippines Passenger Cars Tire Market Revenues & Volume for the Period 2016-2018
Market Size and Forecast of Philippines Passenger Cars Tire Market Revenues & Volume for the Period 2019-2025
Historical Data of Philippines Two-Wheeler Tire Market Revenues & Volume for the Period 2016-2018
Market Size and Forecast of Philippines Two-Wheeler Tire Market Revenues & Volume for the Period 2019-2025
Market Drivers and Restraints
Philippines Tire Market Trends and Developments
Philippines Tire Market Share, By Players, Vehicle Type
Philippines Tire Market Overview on Competitive Benchmarking
Recommendations

Market Segmentation

The Philippines Tire Market report offers a detailed analysis of the following market segments:

By Origin

Local Manufacturing
Imports

By Vehicle Types

o Trucks
              ? Radial
              ? Bias
    o Light Trucks
              ? Radial
              ? Bias
    o Passenger Cars
    o Two-Wheeler

Philippines Tire Market: FAQs

What are the primary growth drivers of the Philippines Tire Industry?

What are the current trends in the tire market?

What is the future outlook for the tire market in the Philippines?

What are the challenges faced by the tire industry?

How does 6W market outlook report help businesses in making decisions?

Do you also provide customisation in the market study?

1. Executive Summary
2. Introduction
    2.1 Report Description
    2.2 Key Highlights of The Report
    2.3 Market Scope & Segmentation
    2.4 Research Methodology
    2.5 Assumptions
3. Philippines Tire Market Overview
    3.1 Philippines Country Indicators
    3.2 Philippines Tire Market Revenues and Volumes, 2016-2025F
    3.3 Philippines Tire Market - Industry Life Cycle, 2018
    3.4 Philippines Tire Market - Porter's Five Force Model
    3.5 Philippines Tire Market Revenues and Volume Share, By Origin, 2018 & 2025F
4. Philippines Tire Market Dynamics
    4.1 Impact Analysis
    4.2 Market Drivers
    4.3 Market Restraints
5. Philippines Tire Market Overview, By Origin
    5.1 Philippines Local Manufactured Tire Market Revenues and Volume, 2016-2025F
    5.2 Philippines Import Tire Market Revenues and Volume, 2016-2025F
6. Philippines Tire Market Overview, By Vehicle Types
    6.1 Philippines Passenger Car Tire Market Revenues and Volume, 2016-2025F
          6.1.1 Philippines Passenger Car Tire Market Revenues and Volume Share, By Origin, 2018 & 2025F
          6.1.2 Philippines Passenger Car Tire Market Revenues and Volume, By Origin, 2016-2025F
    6.2 Philippines Truck Tire Market Revenues and Volume, 2016-2025F
          6.2.1 Philippines Truck Tire Market Revenues and Volume Share, By Origin, 2018 & 2025F
          6.2.2 Philippines Truck Tire Market Revenues and Volume, By Origin, 2016-2025F
                    6.2.2.1 Philippines Local Manufactured Truck Tire Market Revenues and Volume, By Types, 2016-2025F
                    6.2.2.2 Philippines Import Truck Tire Market Revenues and Volume, By Types, 2016-2025F
    6.3 Philippines Light Truck Tire Market Revenues and Volume, 2016-2025F
          6.3.1 Philippines Light Truck Tire Market Revenues and Volume Share, By Origin, 2018 & 2025F
          6.3.2 Philippines Light Truck Tire Market Revenues and Volume, By Origin, 2016-2025F
                    6.3.2.1 Philippines Local Manufactured Light Truck Tire Market Revenues and Volume,
                                By Types, 2016-2025F
                    6.3.2.2 Philippines Import Light Truck Tire Market Revenues and Volume, By Types, 2016-2025F
    6.4 Philippines Two Wheeler Vehicle Tire Market Revenues and Volume, 2016-2025F
          6.4.1 Philippines Two Wheeler Vehicle Tire Market Revenues and Volume Share, By Origin, 2018 & 2025F
          6.4.2 Philippines Two Wheeler Vehicle Tire Market Revenues and Volume, By Origin, 2016-2025F
7. Philippines Tire Market - Key Performance Indicators
8. Philippines Tire Market Opportunity Assessment
    8.1 Philippines Tire Market Opportunity Assessment, By Origin, 2025F
    8.2 Philippines Local Manufactured Tire Market Opportunity Assessment, By Vehicle Type, 2025F
    8.3 Philippines Import Tire Market Opportunity Assessment, By Vehicle Type, 2025F
9. Philippines Tire Market - Competitive Landscape
    9.1 Competitive Benchmarking, By Tires
    9.2 Philippines Tire Market Revenue Share, By Company, 2018
          9.2.1 Philippines Tire Market Revenue Share, By Company, By Origin, 2018
          9.2.2 Philippines Tire Market Revenue Share, By Company, By Vehicle Type, 2018
10. Company Profiles
      10.1 General Company Establishment MICHELIN
      10.2 Bridgestone Corporation
      10.3 The Goodyear Tire & Rubber Company
      10.4 The Yokohama Rubber Co., Ltd.
      10.5 Giti Tire Corporation
      10.6 Cheng Shin Rubber Ind. Co., Ltd.
      10.7 MRF Limited
      10.8 Apollo Tyres Ltd.
      10.9 Sumitomo Rubber Industries, Ltd.
      10.10 Toyo Tire & Rubber Co., Ltd.
      10.11 Continental AG
11. Key Strategic Recommendations
12. Disclaimer

List of Figures
Figure1. Philippines Tire Market Revenues and Volume, 2016-2025F ($ Billion/Million Units)
Figure2. Expenditure Allocation on Infrastructure by Philippines Government
Figure3. Philippines Tire Market Revenue Share, By Origin, 2018 & 2025F
Figure4. Philippines Tire Market Volume Share, By Origin, 2018 & 2025F
Figure5. Philippines Local Manufactured Tire Market Revenue Share, By Vehicle Types, 2018 & 2025F
Figure6. Philippines Local Manufactured Tire Market Volume Share, By Vehicle Types, 2018 & 2025F
Figure7. Philippines Import Tire Market Revenue Share, By Vehicle Types, 2018 & 2025F
Figure8. Philippines Import Tire Market Volume Share, By Vehicle Types, 2018 & 2025F
Figure9. Philippines Passenger Car Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure10. Philippines Passenger Car Tire Market Revenue Share, By Origin, 2018 & 2025F
Figure11. Philippines Passenger Car Tire Market Volume Share, By Origin, 2018 & 2025F
Figure12. Philippines Local Manufactured Passenger Car Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure13. Philippines Import Passenger Car Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure14. Philippines Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure15. Philippines Truck Tire Market Revenue Share, By Origin, 2018 & 2025F
Figure16. Philippines Truck Tire Market Volume Share, By Origin, 2018 & 2025F
Figure17. Philippines Local Manufactured Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure18. Philippines Import Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure19. Philippines Local Manufactured Truck Tire Market Revenue Share, By Types, 2018 & 2025F
Figure20. Philippines Local Manufactured Truck Tire Market Volume Share, By Types, 2018 & 2025F
Figure21. Philippines Local Manufactured Radial Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure22. Philippines Local Manufactured Bias Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure23. Philippines Import Truck Tire Market Revenue Share, By Types, 2018 & 2025F
Figure24. Philippines Import Truck Tire Market Volume Share, By Types, 2018 & 2025F
Figure25. Philippines Import Radial Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure26. Philippines Import Bias Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure27. Philippines Light Truck Radial Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure28. Philippines Light Truck Tire Market Revenue Share, By Origin, 2018 & 2025F
Figure29. Philippines Light Truck Tire Market Volume Share, By Origin, 2018 & 2025F
Figure30. Philippines Local Manufactured Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure31. Philippines Import Truck Light Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure32. Philippines Local Manufactured Light Truck Tire Market Revenue Share, By Types, 2018 & 2025F
Figure33. Philippines Local Manufactured Light Truck Tire Market Volume Share, By Types, 2018 & 2025F
Figure34. Philippines Local Manufactured Radial Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure35. Philippines Local Manufactured Bias Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure36. Philippines Import Light Truck Tire Market Revenue Share, By Types, 2018 & 2025F
Figure37. Philippines Import Light Truck Tire Market Volume Share, By Types, 2018 & 2025F
Figure38. Philippines Import Radial Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure39. Philippines Import Bias Light Truck Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure40. Philippines Two Wheeler Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure41. Philippines Two Wheeler Tire Market Revenue Share, By Origin, 2018 & 2025F
Figure42. Philippines Two Wheeler Tire Market Volume Share, By Origin, 2018 & 2025F
Figure43. Philippines Local Manufactured Two Wheeler Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure44. Philippines Import Two Wheeler Tire Market Revenues and Volume, 2016-2025F ($ Million/Million Units)
Figure45. Philippines Actual Government Spending Vs Actual Government Revenues, 2014-2023F (Philippines peso Trillion)
Figure46. Philippines Urban Population Percentage, (2010-2050F)
Figure47. Philippines Tire Market Opportunity Matrix, By Origin, 2025F
Figure48. Philippines Local Manufactured Tire Market Opportunity Matrix, By Vehicle Type, 2025F
Figure49. Philippines Import Tire Market Opportunity Matrix, By Vehicle Type, 2025F
Figure50. Philippines Import Radial Truck Tire Market Revenue Share, By Company, 2018
Figure51. Philippines Import Bias Truck Tire Market Revenue Share, By Company, 2018
Figure52. Philippines Import Radial Light Truck Tire Market Revenue Share, By Company, 2018
Figure53. Philippines Import Bias Light Truck Tire Market Revenue Share, By Company, 2018
Figure54. Philippines Import Truck Tire Market Revenue Share, By Company, 2018
Figure55. Philippines Import Truck Tire Market Revenue Share, By Company, 2018
Figure56. Tire Market - Ansoff Matrix

List of Tables
Table1. Passenger Car Sales, 2014-17 (in Units)
Table2. Philippines Upcoming Transportation Projects
Table3. Upcoming Road and Highway Construction Projects
Table4. Philippines Vehicle Sales Data, 2014-17 (in units)
Table5. Philippines Vehicle Production Data, 2014-17 (in units)