베트남의 타이어 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the Vietnam tire market size was valued at USD 3.26 billion in 2025, is estimated at USD 3.43 billion in 2026, and is projected to reach USD 4.43 billion by 2031, registering a CAGR of 5.21% between 2026 and 2031.

This report is Segmented by Season (Summer and More), Tire Design (Radial, Bias, and More), Vehicle Type (Two-Wheelers, Passenger Cars and More), Application (On-Road and Off-Road), End User (OEM and Aftermarket), Rim Size (Below 15 Inches, 15 To 20 Inches, and Above 20 Inches), and Propulsion (Internal-Combustion Vehicles and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

Vietnam Tire Market Trends and Insights

Rising Vehicle PARC and Disposable Income Growth

In 2024, vehicle registrations experienced significant growth, contributing to an expanding installed base of vehicles that continues to drive consistent demand in the aftermarket segment. The annual GDP growth rate of nearly 10% has enhanced household purchasing power, resulting in shorter replacement cycles, particularly for premium-branded tires in key urban centers such as Hanoi and Ho Chi Minh City. While motorcycles remain the dominant choice for individuals entering the personal mobility market, the adoption of passenger cars is accelerating. This trend is supported by improved access to financing options and the ongoing expansion of urban road infrastructure. Increased vehicle utilization has led to higher tread wear, which in turn is generating a steady and predictable demand for high-quality replacement tires across dealership networks and quick-fit service outlets..

Logistics and E-Commerce Boom Increasing CV Tire Demand

Vietnam's e-commerce sector has experienced significant growth, driving substantial changes in the logistics and transportation landscape. This expansion has resulted in the proliferation of dense urban last-mile delivery fleets and the extension of intra-regional trunk routes. Delivery vans and refrigerated trucks, which operate with high daily mileage, are experiencing accelerated tire wear compared to private vehicles. Additionally, infrastructure developments, such as the North-South Expressway and ongoing highway projects connecting to border gates, are enhancing road accessibility. These improvements are encouraging operators to optimize fuel efficiency by leveraging the newly developed routes. In the seafood export segment, specialized cold-chain vehicles are increasingly utilizing high-load, low-temperature tread compounds, which are priced at a premium due to their advanced performance characteristics.

Natural Rubber Price Volatility

In 2024, Vietnam, despite maintaining its position as a leading global player, faced challenges stemming from aging plantations and unpredictable rainfall patterns, which resulted in a tightened supply of rubber. The Vietnam Rubber Group's estate proved insufficient in mitigating the impact of global price volatility, prompting tire manufacturers to adopt strategies such as hedging or diversifying their reliance on synthetic rubber inputs. The sharp increase in raw material costs significantly influenced consumer behavior, particularly in the rural motorcycle segment, where high price elasticity led to a noticeable delay in purchase decisions.

Other drivers and restraints analyzed in the detailed report include:

1. Government Incentives for Domestic Tire Manufacturing
2. Rapid Electrification of Two-Wheelers
3. Price Competition from Low-Cost Chinese Imports

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

In 2025, all-season tires accounted for 43.47% of Vietnam's tire market share. Concurrently, summer tires are projected to experience steady growth, with a CAGR of 5.23% during the forecast period. Vietnam's relatively consistent temperature profile supports the preference for single-pattern tires, enabling motorists to reduce costs associated with storage and seasonal tire changes. Winter tire designs, however, remain niche, primarily serving specific applications such as mountain-pass buses and cold-storage forklifts, where temperatures occasionally fall below 10 °C. This climate uniformity provides manufacturers with the advantage of streamlining their compound portfolios and optimizing distribution inventory management.

Premium tire brands are actively conducting consumer education campaigns to highlight the superior hydroplaning resistance and braking performance of purpose-engineered summer tire patterns. These initiatives are gradually encouraging a shift among consumers from entry-level all-season stock-keeping units (SKUs) to more specialized options. Retailers in key regions such as Da Nang and Can Tho report increased opportunities for upselling, particularly through targeted safety messaging during the monsoon season. Furthermore, the expanding car-rental sector is increasingly favoring higher-speed-rated summer tires to meet the requirements of corporate fleet insurers. This trend is fostering the development of new business-to-business (B2B) channels, characterized by predictable ordering patterns and consistent demand cycles.

In 2025, radials accounted for 89.73% of Vietnam's tire market share and are anticipated to grow at a 5.32% CAGR by 2031. This growth is primarily attributed to the enforcement of low-emission truck standards. Fleet cost analyses emphasize the benefits of extended retread cycles and reduced fuel consumption, which justify the premium pricing of radials over bias alternatives. Furthermore, since 2023, OEMs have exclusively adopted radial fitments, driving a significant increase in aftermarket conversions as factory warranties expire.

Leading brands have introduced non-pneumatic prototypes targeting urban last-mile vans, where puncture-related downtimes result in substantial operational costs. However, the commercial viability of these prototypes is expected to take several years to materialize. Concurrently, Chinese manufacturers are launching advanced belt-package radials incorporating graphene and recycled rubber. These innovations not only enhance sustainability credentials but also align with the growing pressures of Extended Producer Responsibility (EPR) compliance. Such technological advancements are raising the competitive benchmark, presenting significant challenges for domestic second-tier producers aiming to penetrate the budget motorcycle segment.

In 2025, two-wheelers accounted for a significant 43.35% share of Vietnam's tire market, maintaining their dominance in the sector. Passenger cars, supported by aggressive dealer financing strategies and an expanding range of models from key players such as VinFast, Hyundai, and Toyota, exhibited a strong 5.27% CAGR. The tire market share for passenger cars is projected to exceed two-fifths by 2031, driven by the increasing prevalence of multi-car households, particularly in Vietnam's growing second-tier cities.

Light commercial vans and pickups, which play a critical role in sustaining the e-commerce sector, contributed to nearly one-fifth of tire sales in 2025. These vehicles are increasingly adopting all-terrain radial designs, which are well-suited for mixed-road conditions. Heavy trucks and buses are benefiting from infrastructure projects associated with the Belt and Road Initiative (BRI). However, the growth of ultra-heavy-spec vehicles remains constrained by axle-load restrictions. The specialty off-road tire segment, encompassing vehicles such as mining trucks and combine harvesters, is expanding from a relatively small base. This segment offers high-margin opportunities for domestic manufacturers, particularly those leveraging efficient and localized supply chains to meet the rapid demands of plantation clients.

Complete Report Scope:

• By Season
  • Summer
  • Winter
  • All-Season
• By Tire Design
  • Radial
  • Bias
  • Non-pneumatic/Airless
• By Vehicle Type
  • Two-Wheelers
  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Trucks and Buses
  • Off-the-Road and Specialty (OTR, Agriculture, Mining, Racing)
• By Application
  • On-Road
  • Off-Road
• By End User
  • OEM
  • Aftermarket
• By Rim Size
  • Below 15 inches
  • 15 to 20 inches
  • Above 20 inches
• By Propulsion
  • Internal-Combustion Vehicles
  • Battery-Electric Vehicles
  • Hybrid and Fuel-Cell Vehicles

List of Companies Covered in this Report:

1. Bridgestone Corporation
2. Michelin SCA
3. Yokohama Rubber Co., Ltd.
4. Kumho Tire Co., Inc.
5. Sailun Group Co., Ltd.
6. The Southern Rubber Industry JSC (Casumina)
7. Danang Rubber Company (DRC)
8. Pirelli & C. S.p.A.
9. Goodyear Tire and Rubber Company
10. Continental AG
11. Apollo Tyres Ltd.
12. Cheng Shin Rubber Ind. Co. (Maxxis)
13. Hankook Tire and Technology
14. Toyo Tire Corporation
15. Triangle Tyre Co., Ltd.
16. Double Coin Holdings Ltd.
17. Linglong Tire Co., Ltd.
18. JK Tyre & Industries Ltd.
19. Giti Tire Pte. Ltd.
20. Cheng Shin Rubber Vietnam (CST)

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Rising Vehicle PARC and Disposable Income Growth
  • 4.2.2 Logistics and E-Commerce Boom Increasing CV Tire Demand
  • 4.2.3 Government Incentives for Domestic Tire Manufacturing
  • 4.2.4 Rapid Electrification of Two-Wheelers
  • 4.2.5 Green Public-Sector Procurement Targets
  • 4.2.6 Truck and Bus Radialization Push by Toll/Fuel-Efficiency Policies
• 4.3 Market Restraints
  • 4.3.1 Natural Rubber Price Volatility
  • 4.3.2 Price Competition from Low-Cost Chinese Imports
  • 4.3.3 Extended Producer Responsibility (EPR) Compliance Costs
  • 4.3.4 Rural Infrastructure Gaps Limiting Off-Take
• 4.4 Value/Supply-Chain Analysis
• 4.5 Regulatory Landscape
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces
  • 4.7.1 Threat of New Entrants
  • 4.7.2 Bargaining Power of Suppliers
  • 4.7.3 Bargaining Power of Buyers
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Competitive Rivalry

5 Market Size and Growth Forecasts (Value (USD) and Volume (Units))

• 5.1 By Season
  • 5.1.1 Summer
  • 5.1.2 Winter
  • 5.1.3 All-Season
• 5.2 By Tire Design
  • 5.2.1 Radial
  • 5.2.2 Bias
  • 5.2.3 Non-pneumatic/Airless
• 5.3 By Vehicle Type
  • 5.3.1 Two-Wheelers
  • 5.3.2 Passenger Cars
  • 5.3.3 Light Commercial Vehicles
  • 5.3.4 Heavy Commercial Trucks and Buses
  • 5.3.5 Off-the-Road and Specialty (OTR, Agriculture, Mining, Racing)
• 5.4 By Application
  • 5.4.1 On-Road
  • 5.4.2 Off-Road
• 5.5 By End User
  • 5.5.1 OEM
  • 5.5.2 Aftermarket
• 5.6 By Rim Size
  • 5.6.1 Below 15 inches
  • 5.6.2 15 to 20 inches
  • 5.6.3 Above 20 inches
• 5.7 By Propulsion
  • 5.7.1 Internal-Combustion Vehicles
  • 5.7.2 Battery-Electric Vehicles
  • 5.7.3 Hybrid and Fuel-Cell Vehicles

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (Includes Global Level Overview, Market Level Overview, Core Segments, Financials as Available, Strategic Information, Market Rank/Share for Key Companies, Products and Services, SWOT Analysis, and Recent Developments)
  • 6.4.1 Bridgestone Corporation
  • 6.4.2 Michelin SCA
  • 6.4.3 Yokohama Rubber Co., Ltd.
  • 6.4.4 Kumho Tire Co., Inc.
  • 6.4.5 Sailun Group Co., Ltd.
  • 6.4.6 The Southern Rubber Industry JSC (Casumina)
  • 6.4.7 Danang Rubber Company (DRC)
  • 6.4.8 Pirelli & C. S.p.A.
  • 6.4.9 Goodyear Tire and Rubber Company
  • 6.4.10 Continental AG
  • 6.4.11 Apollo Tyres Ltd.
  • 6.4.12 Cheng Shin Rubber Ind. Co. (Maxxis)
  • 6.4.13 Hankook Tire and Technology
  • 6.4.14 Toyo Tire Corporation
  • 6.4.15 Triangle Tyre Co., Ltd.
  • 6.4.16 Double Coin Holdings Ltd.
  • 6.4.17 Linglong Tire Co., Ltd.
  • 6.4.18 JK Tyre & Industries Ltd.
  • 6.4.19 Giti Tire Pte. Ltd.
  • 6.4.20 Cheng Shin Rubber Vietnam (CST)

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-Need Assessment