Malaysia Automotive Tire Market Outlook

malaysia has emerged as a fast-growing vehicle and tire market over the last few years. the automotive tire market is influenced by various factors such as economic growth, increased foreign direct investment, new product launches and developments in tire technology. the demand for tires is anticipated to increase in the coming years owing to growing automobile production, rising per capita incomes and the expansion of malaysia’s automotive sector. this means that the demand for tires is projected to remain strong in the short to medium-term. as the automotive industry in malaysia continues to expand, the demand for tires is steadily increasing. in the last decade, vehicle sales in malaysia have witnessed a steady annual growth rate. this has led to an increase in demand for automotive tires due to the increasing fleet size of vehicles. furthermore, the rapid technology shift in the automotive industry has resulted in the introduction of new models of vehicles. this means an increase in tire sales as each vehicle requires a minimum of four tires to function. in order to make better decisions regarding their business operations, tire manufacturers need to stay abreast of the latest trends in the automotive tire market. as such, growth in the malaysian automotive tire market is likely to be driven by key trends. for instance, tire manufacturers must pay heed to the shift in preference towards oem (original equipment manufacturer) tires. this is due to the increase in demand for oem tires which come pre-fitted with vehicles. consumers are increasingly drawn towards oem tires because of their convenience and quality assurance. furthermore, the rising popularity of high-performance tires is expected to drive demand for high-end tire manufacturing processes. these high-end tires are often fitted with technologically advanced materials and unique tread designs. as such, there has been an increase in demand for high-performance tires which insulate vehicles from shock and ensure stability. to conclude, the malaysian automotive tire market is projected to grow in the coming years owing to increased demand for automotive tires and related services. this indicates that tire manufacturers in malaysia need to stay abreast of the latest trends in the automotive tire market. the key trends to pay attention to include the shift in preference towards oem tires, the rising popularity of high-performance tires and the focus on quality assurance and convenience.