Tyre aftermarket to grow 9.7% to RM1.3b this year teamcar - The Malaysian tyre aftermarket (tyre replacement market) is expected to see a 9.7% growth in revenue to US$353.6 million (RM1.3 billion) in 2006 from US$322.3 million (RM1.19 billion), driven by the launch of new car models and growth in the used car market, global consulting company Frost & Sullivan said.

Frost & Sullivan said the Malaysian tyre aftermarket would likely reach US$388.2 million (RM1.43 billion) in revenue in 2007 and US$627.5 million (RM2.31 billion) in 2012.

It said the launch of new car models and growth in the used car markets have been one of the most significant factors in driving demand for the Malaysian tyre replacement market.

Frost & Sullivan automotive and transport Asia Pacific research associate Brijesh Sheregar in a statement yesterday said the Malaysia tyre aftermarket was in the growth stage and has the potential to expand further.

“Opportunities for market participants are increasing in tandem with better product and value offerings to customers,” he said.

Sheregar said the passenger car segment, which includes sports utility vehicles (SUV) and multi-utility vehicles (MUV), generates nearly half of the revenues in the tyre aftermarket.
(source-the edge daily)  ¶ 9:47 PM