Malaysia Tires Market 2021-2026

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    MALAYSIA TIRES MARKET

     

    INTRODUCTION

    Tires are strong and flexible based rubber casings which are present and used within various industrial segments as required to have a sturdy support on vehicular movements. Tyres for most vehicles are pneumatic; air is held under pressure inside the tire. Until recently, pneumatic tires had an inner tube to hold the air pressure, but now pneumatic tires are designed to form a pressure seal with the rim of the wheel.

     

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    Tires can also be found on heavy duty trucks, buses, aircraft landing gear, tractors and other farm equipment, industrial vehicles such as forklifts, and common conveyances such as baby carriages, shopping carts, wheelchairs, bicycles, and motorcycles. Natural rubber is the main raw material used in manufacturing tires, although synthetic rubber is also used. In order to develop the proper characteristics of strength, resiliency, and wear-resistance, however, the rubber must be treated with a variety of chemicals and then heated.

     

    As part of a basic and maximised usage, the tires are manufactured by wrapping multiple layers of specially formulated rubber around a metal drum in a tire-forming machine. The different components of the tire are carried to the forming machine, where a skilled assembler cuts and positions the strips to form the different parts of the tire, called a “green tyre” at this point. When a green tyre is finished, the metal drum collapses, allowing the tire assembler to remove the tire. The green tire is then taken to a mould for curing.

     

    MALAYSIA TIRES MARKET DEVELOPMENTS AND INNOVATIONS

    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Retreader Maxrubber seeking a “strong presence” in Europe Malaysian firm Maxrubber Industries Sdn Bhd claims to be the fastest-growing manufacturer of tyre retreading materials, and the company has Europe firmly in its sights. Malaysia This would enhance better Emission Controls
    Apollo Tyres steps up focus on Malaysia It has set up an office in Malaysia, the third largest automotive market in the ASEAN region, as the company eyes expanding its presence in the country. The company already has a presence in Thailand and Indonesia. Malaysia This would enhance better Development Controls

     

    MALAYSIA TIRES MARKET DYNAMICS

    Tyres are the only contact of cars with the road surface, and are, therefore, extremely important for safety, rolling resistance, rolling noise and other performances of the vehicle. Better quality tyres save lives, reduce fuel consumption, exhaust gas emissions (CO2 and air pollution) and noise emissions. This is permitted under EU law, as the current tyre limits are significantly below the current state of the art.

     

    Tire purchasing  and  disposal  impose  considerable  cost  and  waste  burdens  on  private  vehicle owners and fleet managers. The tire maintenance management practices and tire-related vehicle technologies that have the potential to relieve some of the vehicular burdens. Alongside these, the behaviour, attitudes, and practices of fleet personnel and individual drivers relate to tire  attributes and technologies.

     

    Passenger car demand is expanding due to its use for everyday commuting, and as a result, the country’s vehicle fleet is growing, pushing the Malaysian Tire Market. Furthermore, rising per capita expenditure is leading in vehicle upgrades, raising demand for technologically sophisticated replacement tyres in the country. Continuous commercial expansion of the world’s major tyre firms in the nation by expanding their product range and consumer outreach through increased dealer addition is expected to increase competitiveness in the Malaysian Tire Market over the next five years.

     

    However, according to the Tyre Retreading Firms Association of Malaysia (TRMAM), certain tyre retreading manufacturers continue to operate without the necessary product certification. Without product certification, these tyre retreading companies operate by delivering uncertified tyres to the market. Furthermore, several tyre retreading companies acquired product certification marks from qualified manufacturers and affixed them to their non-certified retreaded tyres. The retreaded tyre may only be deemed safe if it was done in line with the appropriate standard, since the use of non-certified tyres is not.

     

    RECENT MARKET TECHNOLOGICAL TRENDS IN MALAYSIA TIRES MARKET

    The Vehicular tyres are of major importance in recent days as they propel the capability and the requirements to run upon varied terrains and surfaces of operation. Therefore it’s important to have an efficient technology to recycle and integrate new features for better compliance to the latest requirements. One of the most comprehensive technological innovations of the modern tire era is run-flat tire technology. Run-flat technology allows drivers who sustain air loss due to a puncture or cut in their tire to drive approximately 50 miles at 50 m.p.h. so they can reach a safe location to change the tire.

     

    There has been developments done to decrease the operational sound produced during the running of tyres wherein the attempts to reduce the sound perception within the vehicle has been focused. There has been a ponderable amount of around 10 dBA reduction in the sound perception within the vehicle. Vehicle technology is changing very rapidly and so is tyre technology. New kinds of vehicles create new challenges for tyre makers, while new material research and tyre designs are creating greener and more sustainable products. The introduction of the latest EV and Hybrid based vehicles as propulsion units have been the major focus.

     

    There has been recent inclusion of intelligent tyres with sensors which is being placed under the pilot projects in most of the tire manufacturing stakeholder establishments. These are to be retrofitted with various customer requirements and sensory technologies. Alongside these, there has been a considerable amount of sustainable sources-based production being focused upon for the tire production.

     

     

    COMPETITIVE LANDSCAPE

    The Tyre Manufacturers face a global level of competition within the European union and have considerable advantages as well in terms of the internal regulations and presence of high alignment towards research and development of new prospects of technology within the European union nations.

     

    Goodyear Malaysia is playing an important role as part of continual innovation and development. It has most recently brought in the Goodyear Assurance Duraplus 2 which is focused upon the performance in Mileage Tread Design That Is Innovative And Has A Cavity The wearable rubber volume is increased with a new symmetrical tread pattern with a larger hollow shape and smaller grooves. This ensures a longer tread life. Tread Design That Is Unique The symmetrical tread pattern design allows for greater flexibility in tyre rotation, which increases tyre longevity. It has been built with 2 layers of high modulus low shrinkage ply material in the sidewall to ensure better resistance against external impacts. The sidewall compound is further upgraded to enhance long term resistance against environmental influences.

     

    Hankook Tyres Malaysia operates one of the best SUV and Truck Tires which are innovated based upon all terrain operable conditions. The DynaPro Series of SUV Tyres has been one of the most notable innovations amongst these, which boasts multi-directional traction, excellent grip, acceleration, and anti-puncture capability. Even under harsh off-road conditions expect the best possible driving performance with excellent handling and stability on any road type. It has also been integrated with a side protection block from the tread pattern to the centre of the sidewall has a rugged finish and shields against the shock of protruding objects. This also improves traction in soft dirt and protects against pothole damage. The Nylon Reinforced Belts give an additional strength of durability and integrity at all times based on harsh terrains.

     

    COMPANIES PROFILED

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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