Deerfield Beach, FL -- (SBWIRE) -- 07/27/2015 -- Passenger Car Tires Market in South Korea 2015-2019

South Korea is one of the leading automobile manufacturing countries in the world. Thus, South Korea is one of the most significant markets for tire manufacturers.

In 2011, South Korea had 284 passenger cars per 1,000 people and a total road network of 105,931 Km. The country's GNI per capita (PPP) increased by 39.16%, from $24,030 in 2005 to $33,440 in 2013. This was one of the factors that led to rise in sales of passenger cars.

The analysts forecast passenger car tire market in South Korea to grow at a CAGR of 3.78% over the period 2014-2019.

The future of passenger car tire market in South Korea is expected to be positive over the forecast period due to the optimistic outlook for the automotive industry. The tire market in South Korea is driven by growing demand for automobiles, overall growth of the economy, and growth of the replacement tire market.

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Covered in this Report

In this report, The covers present scenario and growth prospects of the passenger car tire market in South Korea for the period 2015-2019. This report provides data on the market based on the following segments:

Replacement segment
OEM segment

We also present the vendor landscape and a corresponding detailed analysis of the top vendors in the market. In addition, the report discusses the major drivers influencing market growth, outlines the challenges faced by vendors and the market as a whole, and identifies the key trends emerging in the market.

The report, Passenger Car Tire Market in South Korea 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the passenger car tire market landscape in South Korea and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.

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Prominent Vendors

Bridgestone Tire
Continental Tire
Goodyear Korea
Hankook Tire
Kumho Tire
Michelin
Nexen Tire
Pirelli
Yokohama Tire

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Market Driver

Growing Sales of Passenger Cars
For a full, detailed list, view our report

Market Challenge

Dependence on Imports of Natural Rubber
For a full, detailed list, view our report

Market Trend

Development of Alternative Sources of Natural Rubber
For a full, detailed list, view our report

Key Questions Answered in this Report

What will the market size be in 2019 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?