According to www.techsciresearch.com report “Vietnam Tire Market Forecast & Opportunities, 2021”, tire market in Vietnam is projected to cross US$ 3 billion by the end of 2021.

1. Vietnam Tire Market
Forecast & Opportunities, 2021
M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

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Ta b l e o f C o n t e n t s
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Vietnam Tire Market Outlook
4.1. Market Size & Forecast
4.1.1. By Value & Volume
4.2. Market Share & Forecast
4.2.1.
By Vehicle Type (Two-Wheeler, Passenger Car, Light Truck, Medium Truck, Heavy Truck, Bus,
and OTR)
4.2.2. By Tire Type (Radial Vs. Bias)
4.2.3. By Company
4.2.4. By Region
4.2.4. By Demand Category (OEM Vs. Replacement)
5. Vietnam Two-Wheeler Tire Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value & Volume
5.2. Market Share & Forecast
5.2.1. By Vehicle Type (Motorcycle Tire, Scooter Tire, and Electric & Hybrid Two-Wheeler Tire)
5.2.2. By Demand Category (OEM Vs. Replacement)
5.3. Popular Tire Sizes
6. Vietnam Passenger Car Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume

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6.2. Market Share & Forecast
6.2.1. By Demand Category (OEM Vs. Replacement)
6.2.2. By Vehicle Type (Sedan, SUV, Hatchback & Hybrid)
6.3. Popular Tire Sizes
7. Vietnam Light Truck Tire Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value & Volume
7.2. Popular Tire Sizes
8. Vietnam OTR Tire Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value & Volume
8.2. Market Share & Forecast
8.2.1. By Vehicle Type (Agriculture Tire, Construction, Mining & Industrial Tire, and Others)
8.3. Popular Tire Sizes
9. Vietnam Bus Tire Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value & Volume
9.2. Market Share & Forecast
9.2.1. By Tire Type (Radial Vs. Bias)
9.3. Popular Tire Sizes

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Ta b l e o f C o n t e n t s
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10. Vietnam Heavy Truck Tire Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value & Volume
10.2. Market Share & Forecast
10.2.1. By Demand Category (OEM Vs. Replacement)
10.2.2. By Tire Type (Radial Vs. Bias)
10.3. Popular Tire Sizes
11. Vietnam Medium Truck Tire Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value & Volume
11.2. Market Share & Forecast
11.2.1. By Demand Category (OEM Vs. Replacement)
11.2.2. By Tire Type (Radial Vs. Bias)
11.3. Popular Tire Sizes
12. Supply Chain Analysis
13. Import-Export Analysis
14. Market Dynamics
14.1. Drivers
14.2. Challenges
15. Market Trends & Developments
15.1. Radial Tires: A Popular Choice of Vehicle Owners

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S. No. Contents
15.2. Increasing Online Tire Sales
15.3.
Easy Availability of Natural Rubber Attracting Foreign Companies to Set Up Manufacturing Plants in
Vietnam
15.4. Surging Tire Exports
15.5. Rising Usage of New Tire Technologies
15.6. Increasing Demand for Mini Bus Tires
16. Policy & Regulatory Landscape
17. Vietnam Economic Profile
18. Competitive Landscape
18.1. Danang Rubber Joint Stock Company
18.2. The Southern Rubber Industry JSC
18.3. Bridgestone Tire Sales Vietnam Limited Liability Company
18.4. Yokohama Tyre Vietnam Inc.
18.5. Michelin Vietnam Co., Ltd
18.6. Sao Vang Rubber Joint Stock Company
18.7. Kumho Tire Co., Ltd. Vietnam
18.8. Continental Ag
18.9. Goodyear Vietnam Co. Ltd
18.10. Cheng Shin Rubber (Vietnam) Ind. Ltd
19. Strategic Recommendations
20. About Us & Disclaimer

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P r o d u c t O v e r v i e w
Global tire supplier Michelin defines tire as, “A precisely engineered assembly of rubber,
chemicals, fabric, and metal, designed to provide traction, cushion road shock and
carry a load under varying conditions”.
Classification According to Vehicle Type
Product Definition
Vehicle Segment Sub-Segment Customer Segment
Passenger Car
Sedan
Individuals
SUV
Hybrid
Hatchback/Small Car
Light Truck -NA-
Transport Companies, Logistics,
Micro Small and Medium Enterprises
Medium Truck -NA-
Logistics Companies, Construction
Companies, etc.
Heavy Truck -NA-
Logistics Companies, Construction
Companies, etc.
Two-Wheeler
Motorcycle
Individuals
Scooter
Electric & Hybrid Two-Wheeler
Off-the-Road Vehicle
Mining, Construction and Industrial
Equipment
Mining Companies, Construction
companies and Industries
Agriculture Vehicle Farmers
Others (Go-cart Vehicles, Golf Cart
Vehicles, Special Purpose Vehicles, etc. )
Sports Companies, Adventure
Activity Industries, etc.

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R e s e a r c h M e t h o d o l o g y
A
C
B
Primary
Research
Company
Analysis
Desk
Research
 Identifying Key Opinion
Leaders
 Questionnaire Design
 In-depth Interviews
 Market Participants
 Key Strengths
 Tire Portfolio
 Recent Developments
 Market Changing
Aspects/Dynamics
 Government Policies
 Final Conclusion
 LinkedIn
 TechSci Internal
database
 Factiva
 Hoovers
Paid Sources
 Company Website
 Company Annual
Reports
 White Paper Study
 Financial Reports
 Investor
Presentations
 Regulatory Body,
 Associations, etc.
Secondary
Research
Primary
Research
Data
Collection
Data Filter
& Analysis
Research &
Intelligence
Actionable
Insights
Business
Solution
•In-depth secondary research was used to
determine top players in Vietnam tire market,
overall market size and to identify top
automobile tire manufactures.
Market Profiling
•In order to conduct industry experts interviews,
TechSci Research formulated a detailed
questionnaire.
Formulating Questionnaire
•List of industry players (manufacturers),
distributors, retailers and industry specialists
was developed.
Developing list of respondents
•TechSci Research conducted interviews with
industry experts, industry players, for data
collection and verification.
Data Collection
•Data obtained as a result of primary and
secondary research was validated through
rigorous triangulation.
Data Validation
•The data was scrutinized using MS-Excel and
statistical tools such as Time Series analysis, etc.
to obtain qualitative and quantitative insights
about the Vietnam tire market.
Data Analysis

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R e s e a r c h M e t h o d o l o g y
Baseline Methodology:
For the study, TechSci Research has gathered information through primary research surveys with
leading tire companies operating in Vietnam. We also put through an exhaustive search of credible paid
databases such as Business Week, Factiva, Hoovers, etc., including our internal database. Our team of
analysts has then prudently evaluated all the collected information and presented the same in
chronological order to depict a meaningful and clear picture of the tire market in Vietnam.
While compiling the data, we have also cross checked all the collected information from multiple sources
and data warehouses, so as to present the most accurate and precise information of the concerned
industry. We use innovative business model that focuses on improving productivity, which ensuring
creation of high-quality reports. The reports are prepared with in-depth primary research, followed by
exhaustive secondary research.
Few of the Companies Interviewed Few of Sources of Secondary Research
S. No. Company Names
1. Kumho Tire Co., Ltd. Vietnam
2. Danang Rubber Joint Stock Company
3 Yokohama Tyre Vietnam Inc.
4. Michelin Vietnam Co., Ltd.
5. Kubota Vietnam Co., Ltd .
6. Truong Hai Automobile Co., Ltd.
7. Hino Motors Vietnam
8. Fuso Vietnam
S. No. Secondary Sources
1. ASEAN Automotive Federation
2. OICA
3
Vietnam Automobile Manufacturers’
Association
4.
United States of America Department of
Commerce
5. World Bank
6. International Monetary Fund
7. UN Comtrade
8. Vietnam Customs

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R e s e a r c h M e t h o d o l o g y
For the preparation of Vietnam tire report, bottom-up model has been used, which has been later cross
validated by using top down approach.
Vehicle Sales & Fleet Size
The basic data points that are needed for the analysis of Vietnam tire market are the historical, current
and forecast figures for vehicle sales and fleet size. The data for vehicle sales and fleet size has been
extracted through various secondary sources and credible data portals. TechSci Research has also
maintained a database for vehicle sales and fleet size for each vehicle segment (passenger cars, light
trucks, medium & heavy trucks, two-wheelers, & off-the-road vehicles), which is regularly updated
through various primary research surveys and secondary sources such as automotive associations &
government publications.
Vehicle Production
TechSci has gathered vehicle production data from credible sources such as ASEAN Automotive
Federation and OICA. TechSci Research has also maintained a database for vehicle production for each
vehicle segment (passenger cars, light trucks, medium & heavy trucks, two-wheelers, & off-the-road
vehicles), which is regularly updated through various primary research surveys and secondary sources
such as automotive associations & government publications.
Tire Demand
OEM Tire Sales
OEM tire demand in Vietnam is directly dependent on country’s vehicle production. The OEM demand is
therefore extracted by multiplying the vehicle produced with the number of tires fitted in the vehicle. For
example, in case of passenger car, five tires are fitted by the OEM during manufacturing process.

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R e s e a r c h M e t h o d o l o g y
Tire Demand
Replacement Tire Sales
Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet size and
historical vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleet
with the replacement tire ratio, which is obtained by conducting a series of surveys with car owners to
understand the frequency of tire replacement as it varies for different countries depending upon factors
such as road conditions, climate, economic and regulatory policies applicable in a country. The
replacement ratio is expressed as a percentage. For example, in case of passenger cars, replacement
ratio is considered to be 100% if four tires are replaced per vehicle per year.
Example for passenger car replacement tire demand calculation:
Passenger Car
Fleet Size
(Volume)
X
Replacement Ratio
(%)
X No. of Tires =
Replacement Tire
Demand
X X 100% X 4 = 400,000 Tires
The calculated replacement tire demand data is further analyzed by TechSci Research through Delphi
technique i.e. multiple rounds of telephonic interviews were conducted with tire companies in Vietnam.
The information thus gathered through primary interviews was cross-verified through industry experts
and secondary sources such as annual reports and paid databases to generate meaningful results.
Total Tire Market
OEM Tire Sales +
Replacement Tire
Sales
= Total Tire Market

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R e s e a r c h M e t h o d o l o g y
Tire Trade (Import & Export)
TechSci Research has analyzed tire imports in Vietnam. The data has been gathered through credible
databases. The total tire trade has been segmented in accordance with below mentioned HS codes:
HS Code Description Tire Type
XXXX Motor Cars Passenger Car Tire
XXXX Bus or Lorries Tires Commercial Vehicle Tire
XXXX Motorcycle Tire Two-Wheeler Tire
XXXX Tire Having a "Herring Bone"
OTR Tire
XXXX Tire Having a "Herring Bone"
XXXX Tire Having a "Herring Bone"
XXXX Tire Having a "Herring Bone"
XXXX Tire Having a "Herring Bone"
XXXX Agriculture Tire
XXXX Construction/Industrial Tire
XXXX Construction/Industrial Tire
XXXX Others Other Tires
The import figures for each vehicle type (Passenger Car, Commercial Vehicle, Two-Wheeler, & OTR) have
been depicted in Value (USD Million).
Forecast
For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis,
followed by judgmental analysis as certain factors would always differ in Vietnam such as infrastructure
condition, economic outlook, etc.

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R e s e a r c h M e t h o d o l o g y
Sampling Technique:
While conducting the study, TechSci followed the stratified random sampling technique to shortlist the Key Opinion
Leaders (KOLs) in various tire companies in the country. KOLs, out of the prominent tire companies, were
interviewed to identify the size of Vietnam tire market along with the market shares of leading tire players across
different tire segments.
Sample Size:
KOL No. of Respondents
Personnel in Tire Companies / Tire Dealer & Distributors X
Personnel in Automobile Companies/
Dealers/Distributors
X
Industry experts / Government Bodies (Import Export
Department, Associations, etc.)
X
Total X

13. I n d u s t r y B r i e f
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Vietnam Tire Market to Cross $ 3 Billion by 2021
According to recently released TechSci Research report, “Vietnam Tire Market Forecast & Opportunities, 2021”,
the tire market in Vietnam is projected to cross $ 3 billion by 2021. Over the last five years, Vietnam has emerged
as one of the fastest developing economies in the Asia-Pacific region. Increasing automobile production/assembly,
expanding fleet size and easy availability of natural rubber are few of the major factors boosting the country’s tire
market. Several automobile companies in Vietnam are planning to expand their manufacturing capacities in the
coming years. For instance, Truong Hai Automobile Co., Ltd., which is one of the major automobile players in
Vietnam, plans to invest US$ 1.33 billion over a period of three years to expand the company’s production
capacity in the country. Another major automobile player operating in the country, Hyundai Thanh Cong, is also
planning to establish new plants in Vietnam.
Vietnam construction industry is expected to generate revenues worth US$ 10.76 billion in 2016, and the sector is
anticipated to grow at a CAGR of over 10% over the next five years. Apart from the construction sector, the
country’s logistics industry is also forecast to register healthy growth rate owing to anticipated growth in the
MSME sector. Booming construction and logistics sectors are expected to drive robust growth in demand for
heavy, medium and light trucks in the country, and consequently boost tire sales as well over the next five years.
Vietnam tire market is dominated by two-wheeler tire segment, followed by passenger car tire segment, and this
trend is expected to continue during the forecast period. South Vietnam is the leading regional market for tires in
the country, due to high population density, large vehicle fleet size and high concentration of industries and
businesses in the region.
“In order to boost the country’s economy, Vietnam is signing trade agreements with various countries across the
globe. For instance, Free Trade Agreement was signed between Vietnam and the European Union in 2015. Under
this agreement, nearly all the trade tariffs between Vietnam and the European Union will be
eliminated. Moreover, in 2015, the Government of Vietnam, inked AFTA (ASEAN Free Trade Agreements) with
neighboring countries to encourage foreign investments into the country. AFTA is expected to bring down tariff
levied on vehicle imports, which is expected to boost the country’s tire market in the coming years.”, said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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S a m p l e D a t a - S n a p s h o t
1 2 3 4 5 7 8 9 10 11 12
3 5 7 9 11 15 17 19 21 23 25
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Value (USD Billion) Volume (Million Units)
Vietnam Tire Market Size, By Value (USD
Billion), By Volume (Million Units), 2011-2021F 1% 1% 1% 1% 1% 1% 1%
2% 2% 2% 2% 2% 2% 2%3% 3% 3% 3% 3% 3% 3%
4% 4% 4% 4% 4% 4% 4%
5% 5% 5% 5% 5% 5% 5%
6% 6% 6% 6% 6% 6% 6%
7% 7% 7% 7% 7% 7% 7%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Cheng Shin Rubber Inoue Rubber Vietnam Kumho
Yokohama DRC, CSM & SRC Michelin
Bridgestone
Vietnam Tire Market Share, By Company, By Value, 2011-2021F
Vietnam Two-Wheeler Tire Market Size, By Value (USD
Billion), By Volume (Million Units), 2011-2021F
1 2 3 4 5 7 8 9 10 11 12
3 5 7 9 11 15 17 19 21 23 25
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Value (USD Billion) Volume (Million Units)
33% 33% 33% 33% 33% 33% 33%
34% 34% 34% 34% 34% 34% 34%
33% 33% 33% 33% 33% 33% 33%
2015 2016E 2017F 2018F 2019F 2020F 2021F
Motorcycle Tire Scooter Tire Electric & Hybrid Two-Wheeler Tire
Vietnam Two-Wheeler Tire Market Share, By
Vehicle Type, By Volume, 2015-2021F
South Vietnam
2015 2021F
X% X%
North Vietnam
2015 2021F
X% X%
Central Vietnam
2015 2021F
X% X%
Vietnam Tire Market Share, By Region, By Value, 2011-2021F
Vietnam Passenger Car Tire Market Share, By
Vehicle Type, By Volume, 2011-2021F
10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%
30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
40% 40% 40% 40% 40% 40% 40% 40% 40% 40% 40%
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Sedan SUV Hatchback Hybrid
Vietnam Light Truck Tire Market Size, By Value (USD
Billion), By Volume (Million Units), 2011-2021F
1 2 3 4 5 7 8 9 10 11 12
3 5 7 9 11 15 17 19 21 23 25
2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F
Value (USD Billion) Volume (Million Units)

15. R e p o r t O r d e r i n g
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