New Zealand Tire Set to Grow at 3% CAGR by 2027 – MarkNtel

According to recent findings, the New Zealand Tire Market is projected to grow at a CAGR of around 3% during the forecast period, i.e., 2022-27.

At MarkNtel Advisors, we continuously monitor and analyze industry trends to provide reliable insights that support informed decision-making and the key factors contributing to the market's promising outlook.

New Zealand Tire Overview:

The increasing population, improving economic conditions, & the growing consumer inclination toward private ownership of vehicles are the prime aspects driving the tire industry in New Zealand. 

Besides, as the country is highly import-driven due to the absence of tire manufacturing units, the prevalence of Chinese tires is rising rapidly and, in turn, fueling the market growth. Moreover, the government is laying out favorable policies to attract foreign investments in the establishment of tire manufacturing facilities in the country and, in turn, strengthen the overall tire industry. 

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New Zealand Tire Segmentation Analysis:

By Type of Vehicles

• Passenger Car
• Light Commercial Vehicle
• Medium and Heavy Commercial Vehicles
• Off the Road (OTR)
• Two Wheelers

According to reports, Amongst them all, Light Commercial Vehicles are anticipated to contribute prominently to the expansion of the New Zealand Tire Market during 2022-27.

By Demand Category

• OEM
• Aftermarket

According to reports, Here, the aftermarket expects the largest share in the Tire Market of New Zealand during 2022-27, principally due to the absence of automotive OEMs.

By Type of Tire

• Radial
• Bias

By Sales Channel

• Dealer/Exclusive Outlets
• Online
• Direct

By Season

• All season
• Summer
• Winter

By Price Category

• Budget (Up to USD90)
• Economy (USD91-USD140
• Premium (Above USD140)

By Rim Diameter

• Upto 12”
• 1” to 15”
• 1.” to 18”
• 1” to 20”
• 1” to 22.5”
• 6” to 26”
• 1” to 35”
• 1” to 47”
• Above 47”.

For deeper insights into the market, explore the summary of the research report – https://www.marknteladvisors.com/research-library/new-zealand-tire-market.html

Some of the Market players in the New Zealand Tire are:

• Bridgestone
• Goodyear and Dunlop Tyres
• Continental
• Yokohama
• Michelin
• Pirelli
• Kumho
• Hankook
• Toyo
• Balkrishna Industries.

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Key Highlights of the Report – Unlock Valuable Market Insights

• Market Size, Share & Future Projections – Understand the current market dimensions and forecasted growth trajectory.
• In-Depth Pricing Analysis – Get clarity on pricing trends and cost structures across segments.
• Company Strategies & Developments – Discover recent mergers, acquisitions, partnerships, and innovations.
• Key Stakeholders & Value Chain Insights – Identify the main players and their roles within the industry ecosystem.
• Import & Export Dynamics – Analyze trade flows, regional export trends, and supply chain movements.
• Competitive Benchmarking – Gain a clear view of the leading companies and their market positioning.
• Emerging Growth Opportunities – Spot untapped areas and niche markets for potential investment.
• Market Trends & Growth Drivers – Stay ahead with insights into evolving consumer behavior and industry indicators.

Research Methodology Summary

A systematic approach is used to ensure accurate market insights, combining both bottom-up and top-down methods. Data triangulation validates findings from multiple angles.

Key Steps:

• Define objectives and research design
• Collect data through surveys and interviews
• Analyze and validate data using reliable tools
• Forecast trends and deliver actionable insights

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