1. Market Research
  2. > Automotive
  3. > Tire Market Trends

South Korea Tire Industry Outlook to 2017 - Export Dominance to Drive Future Growth

  • April 2013
  • 43 pages
  • Ken Research Private Limited
Report ID: 1171804

Summary

Table of Contents

EXECUTIVE SUMMARY

The report titled “South Korea Tire Industry Outlook to 2017 – Export Dominance to Drive Future Growth” provides a comprehensive analysis of the various aspects such as market size of the South Korea tire industry and several operating segments in the South Korea tire market. The report also covers the market shares of major players in South Korea.

Tire market in South Korea, which is hugely driven by the sales of passenger cars, registered revenues of USD ~ million in 2012. With the advent of new varieties of tires and owing to A strong financial performance by several tire majors in the industry, the revenues increased by 42.7% compared to 2011 where the total revenues were USD ~ million. South Korea has been the fastest growing tire market in Asia, primarily influenced by a gamut of different factors such as automobile production, prices of natural rubber and crude oil, disposable incomes and others. South Korea was the fourth largest manufacturer of tires in terms of revenue, having recorded sales of USD ~ million in 2012. The South Korea tire industry has grown at a CAGR of 22.9% from USD ~ million in 2008 to USD ~ million in 2012.

The tire market in South Korea represents an oligopoly, with the presence of three major tire manufacturers that specialize in designing and producing tires for a range of vehicles. Tire industry in South Korea was led by Hankook, which registered revenues of USD ~ million in 2012. Kumho and Nexen were the second and third largest tire manufacturers in 2012 respectively.

Historically, exports have been the primary focus of tire enterprises in South Korea. Along with their presence in the domestic market, tire manufacturers in South Korea also hold a share of the markets in foreign countries including China. Total exports of tires from South Korea were valued at USD ~ million in 2012. Compared to exports, imports represent a minor portion of the overall consumption of tires in South Korea.

A major development in the tire space has been the inception of tire labeling by the European Union. With the introduction of strict manufacturing standards, numerous companies have had to incorporate radical changes in their tire production so as to conform to the strict prerequisites for tire exports to Europe.
The market for tires in South Korea is growing at a brisk rate. Technological advancements and demand of tires across a wide array of vehicles as well as competitive pressures amongst tire producers have been significantly changing the market. Revenues from the tire industry in South Korea are expected to expand to USD ~ million in 2017, growing with a CAGR of ~% from 2012 to 2017.
?
KEY TOPICS COVERED IN THE REPORT

- The market size of the South Korea tire industry.
- Market segmentation of the South Korea tire industry on the basis of replacement, OEM and exports and passenger and commercial vehicles.
- Trends and Development in the South Korea tire industry.
- Competitive landscape and detailed company profiles of the major manufacturers of South Korea.
- Future outlook and projections of the South Korea tire industry on the basis of revenues.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Global Tire Market Forecast & Opportunities, 2022

  • $ 10000
  • Industry report
  • April 2017
  • by TechSci Research

Global tire market witnessed a marginal growth during 2012-16, predominantly due to prevailing effects of Eurozone Crisis and slump in the crude oil prices which impacted the global automobile industry. ...

Tires Market for OE & Replacement by Rim Size, Replacement Market, Aspect Ratio, Section Width, Retreading Market and OHV Tires Market, Application, and Region - Global Forecast to 2021

  • $ 5650
  • Industry report
  • March 2017
  • by MarketsandMarkets

“Increasing demand for low rolling resistance tires driving the tires OE (Original Equipment) market” The tires OE market is projected to grow at a CAGR of 5.48% from 2016 to 2021, to reach a market ...

Africa Tire Market Forecast & Opportunities, 2012 - 2022

  • $ 5000
  • Industry report
  • February 2017
  • by TechSci Research

Tire market in Africa grew at a moderate pace over the past few years, owing to rising passenger car and commercial vehicles sales, coupled with expanding replacement tire market. Moreover, increasing ...


Download Unlimited Documents from Trusted Public Sources

Tire Industry in China - Forecast

  • June 2017
    5 pages
  • Tire  

  • China  

    World  

View report >

Synthetic Pigment Markets in the Netherlands

  • June 2017
    2 pages
  • Synthetic Pigme...  

    Tire  

    Rubber Recyclin...  

  • Netherlands  

View report >

Tire Industry in the US

  • May 2017
    4 pages
  • Tire  

    Steel  

  • United States  

View report >

Tire Supply

27 days ago

Related Market Segments :

Tire

ref:plp2013

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.