Welcome!

News Feed Item

Supportive Government Policies and Fuel-Efficient Tyres to Drive Malaysian Tyre Market Says TechSci Research

BURNABY, British Columbia, January 20, 2014 /PRNewswire/ --

Growing demand for hybrid cars as a result of government initiatives to drive the tyre market in Malaysia over the next five years

Malaysia's favorable government policies, coupled with political and economic stability, and the presence of well-developed infrastructural facilities, have attracted major international automotive and component manufacturers to invest in the country. As Malaysia is also centrally located in the ASEAN region, the country offers immense opportunities for global automotive players to set up their manufacturing operations. Abundant natural rubber production and the membership of AFTA and ASEAN continue to attract the global tyre companies to establish their production plants in Malaysia.

     (Logo: http://photos.prnewswire.com/prnh/20140117/663730 )

According to a recently published report by TechSci Research "Malaysia Tyre Market Forecast and Opportunities 2018", the tyre market in Malaysia is expected to grow at a CAGR of around 10%, in revenue terms, during 2013-18. Malaysia's tyre sales have received major contribution from the passenger car segment as the country is the largest market for passenger cars in the ASEAN region. Though Malaysia is the world's third largest producer for natural rubber, the country does not have too many tyre manufacturing plants due to the bilateral trade agreements with Indonesia and Thailand, from where tyres can be imported at very low tariffs.

The automobile production in Malaysia is increasing at a rapid pace and as a result, tyre companies operating in Malaysia are also expanding their business operations. The automobile production in Malaysia is also encouraged by the government of Malaysia through various incentive plans and tax benefits. The hybrid car sales in the country registered a year-on-year growth of around 84% in 2012 and are set to grow further on the back of extended duty exemption, anticipated launch of new models and growing customer acceptance. The tyre market in Malaysia is also witnessing a rapid increase in demand for fuel efficient and eco-friendly tyres.

The report indicates that Goodyear, Continental, Bridgestone and Michelin are the major tyre companies in Malaysia's tyre industry, while Toyo Tyre, Pirelli, and Yokohama are also setting up their businesses and expanding product portfolio to increase their share in the growing tyre market in the country.

"The market for passenger cars is expected to continue dominating tyre market in Malaysia during next five year period, however, the growing agricultural, construction and mining sectors are boosting the demand for OTR tyres in the country. Additionally, the Malaysian government's incentive schemes for automotive manufacturers are also anticipated to drive the growth of automobile production, which would consequently contribute towards propelling the demand for tyres in Malaysia" said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"Malaysia Tyre Market Forecast and Opportunities 2018" has evaluated the future growth potential of Malaysia's tyre industry and provides statistics and information on market structure, exports and future growth of the tyre industry. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available for the tyre industry in Malaysia.

Contacts: Ken Mathews, Email: [email protected] Contact : +1-646-360-1656

SOURCE Techsci Research

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
DX World EXPO, LLC, a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"Space Monkey by Vivent Smart Home is a product that is a distributed cloud-based edge storage network. Vivent Smart Home, our parent company, is a smart home provider that places a lot of hard drives across homes in North America," explained JT Olds, Director of Engineering, and Brandon Crowfeather, Product Manager, at Vivint Smart Home, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that Conference Guru has been named “Media Sponsor” of the 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to gre...
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develop...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structures and systems with limitations. Until now. As the cloud toolkit to analyze data has evolved, GPUs have stepped in to massively parallel SQL, visualization and machine learning.
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices to ...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...