COMPANY PROFILE -Nankang Rubber Tire
Business Sector :Automotive Tires
Operating Geography :Taiwan, Asia, Global
About Nankang Rubber Tire :
Nankang Rubber Tire Corp is a prominent tire manufacturer based in Taiwan. Established in 1959, Nankang has grown into a reputable global player in the tire industry. Known for its commitment to quality and innovation, the company produces a wide range of tires for various vehicles, from passenger cars to commercial trucks. Nankang has manufacturing plants in Taiwan, China, Indonesia, and Vietnam. It also has sales and marketing offices in over 100 countries around the world. The company is a subsidiary of Tireco, Inc., a USA based tire distributor. Nankang's dedication to research and development, combined with a focus on customer satisfaction, has solidified its position as a trusted choice for reliable and high-performance tires worldwide. The company had over 5,000 employees as of early 2023.
Nankang Rubber Tire Corp's unique selling proposition lies in its decades of tire expertise, crafting high-quality and innovative tires for diverse vehicles, offering exceptional performance, safety, and durability. Its mission is to provide reliable and cutting-edge tire solutions to enhance vehicle performance and safety. Through continuous innovation and customer-centric focus, they aim to exceed expectations and drive automotive excellence. It also envisions becoming a global leader in tire manufacturing, known for setting new industry standards. They strive to contribute to safer, more efficient transportation by delivering state-of-the-art tire technology and solutions worldwide.
Nankang Rubber Tire Revenue :
¥ 7.4 billion - FY ending 31st December 2022 (y-o-y growth -8.24%)
¥ 8.1 billion - FY ending 31st December 2021
Competitive Analysis of Nankang Rubber Tire
The SWOT analysis for Nankang Rubber Tire Corp is presented below in a matrix followed by the detailed analysis report:
Strengths | Weaknesses |
1. Long-standing industry leader in Taiwan known for its high-quality tires for over 60 years.
2. Wide tire products portfolio with 8 main product categories catering to various vehicle types.
3. Strong international presence with distribution networks in more than 100 countries.
4. Significant revenue generation from almost all geographic segments.
5. Strong focus on innovation, launching new technologies or products every year.
| 1. Decreasing trends in operating income from last 4 years.
2. Limited market share in the premium segment.
3. Highly dependent on the export market, which is nearly 92%.
|
Opportunities | Threats |
1. Rise of autonomous vehicles presents opportunity for the tire industry boosting innovation.
2. Development of specialty tires for EVs can help differentiate its products from competitors’.
3. Expand into emerging markets like Indonesia, India, Vietnam & Japan.
4. Invest in development of premium products to gain significant market share in that segment
| 1. Long-term lockdowns during uncertainties like COVID-19 may negatively impact export sales.
2. The tire industry is highly competitive, with numerous players offering similar products.
|
Nankang Rubber Tire Corp SWOT & PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed SWOT Analysis of Nankang Rubber Tire
Strength
This section is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
1. Rise of autonomous vehicles presents opportunity for the tire industry boosting innovation: The shift towards autonomous vehicles has the potential to reshape the tire industry and drive the need for advanced tire technologies. Autonomous vehicles require tires that can meet the unique demands of self-driving systems, including enhanced traction, durability, and safety features. These vehicles also require tires with improved sensor capabilities, specialized tread designs, and advanced materials to ensure optimal performance and safety. To capitalize on this opportunity, tire manufacturers are investing in research and development to develop innovative tire solutions tailored to autonomous vehicles. This includes the integration of sensor technologies, tire monitoring systems, and advanced rubber compounds to enhance performance and responsiveness in self-driving scenarios. Moreover, this also presents an opportunity for tire manufacturers to explore new business models. As autonomous vehicle fleets become more prevalent, companies like Nankang can consider partnerships with ride-hailing services or autonomous vehicle manufacturers to provide specialized tires and maintenance services.
The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.
Threat
1. Long-term lockdowns during uncertainties like COVID-19 may negatively impact sales: COVID-19 pandemic has posed challenges to the rubber industry worldwide. During prolonged lockdowns, many businesses faced temporary closures, and consumer spending on non-essential items, such as automotive products, declined. This reduced demand for tires as vehicle usage decreased and new tire purchases were postponed. Additionally, restrictions on international trade and shipping have hindered the export and distribution of tires, further impacting sales for companies in the industry. To mitigate the negative effects of long-term lockdowns, companies in the rubber industry had been exploring innovative strategies. This includes focusing on e-commerce channels, implementing cost-saving measures, and adapting production processes to ensure employee safety and continuity of operations. Strengthening online sales platforms, exploring local and regional markets where restrictions are less severe, and maintaining communication with customers to understand their changing needs is also critical.
The remaining section under "Threat" is available only in the 'Complete Report' on purchase.
The PESTLE analysis for Nankang Rubber Tire Corp is presented below in a matrix followed by the detailed analysis report:
Political | Economical |
1. US anti-dumping measures on Chinese tires resulted in oversupply, intensifying competition in mid- and low-priced segments & impacting tire prices
2. The US tightening monetary policy lower vehicle sales, reducing the demand for tires
3. Public welfare participation through marketing activities like sponsorships & campaigns to enhance brand reputation
| 1. The US double-reverse tariffs on Asian countries prompted Taiwanese companies to invest in Southeast Asia and diversify market channels.
2. The slow economic recovery in Europe negatively impacted tire sales due to reduced consumer spending power.
3. Rising rubber prices are impacting the overall profit margin for businesses in the industry
|
Social | Technological |
1. Changing mobility patterns like rise of shuttle services impacts product demand. | 1. Adoption of automation & digitalization can enhance operational efficiency & product quality |
Legal | Environmental |
1. Compliance with global trade laws is critical to avoid any legal allegations. | 1. Addresses increasing environmental concerns through carbon absorption & electric equipment installations
2. Adoption of raw materials which are formulated to lower pollution emissions
|
Nankang Rubber Tire Corp SWOT & PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
Detailed Pestle Analysis of Nankang Rubber Tire
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
1. Changing mobility patterns like rise of shuttle services impacts product demand: As shared mobility gains popularity, more people are relying on services like ridesharing and shuttle services instead of owning personal vehicles. This shift in consumer behavior can have implications for the demand for tires. According to a McKinsey report on shared mobility and sustainable cities, the growth of shared mobility services is expected to have a substantial impact on the automotive industry. These services could reduce the overall demand for private vehicles, potentially leading to decreased tire sales. As shared mobility services typically operate with a fleet of vehicles, their tire replacement and maintenance needs may differ from individual vehicle owners. These services often prioritize cost efficiency and seek long-lasting, durable tires that can withstand the higher mileage and rigorous usage patterns of their fleets. To adapt to this changing landscape, businesses may need to assess the specific requirements of shuttle services and shared mobility providers. They may consider developing tires specifically tailored to the needs of these services, such as tires with enhanced durability, reduced rolling resistance for better fuel efficiency, and optimized performance for urban driving conditions.
The remaining section under "Social" is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Addresses increasing environmental concerns through carbon absorption & electric equipment installations: To address increasing environmental concerns, the company has implemented various measures, including carbon absorption and the installation of electric equipment. It has improved their exhaust gas treatment equipment by incorporating low-odor aromatic essence and utilizing dust collectors, scrubbers, and a self-refining process. They have also redesigned and optimized their air pollution prevention equipment's exhaust pipes to reduce odors and continuously minimize environmental pollution. The company also introduced their first natural gas boiler in 2018, gradually replacing oil-fired boilers. It is also planning to introduce the first nitrogen workstation in 2023. Moreover, it currently employs activated carbon-related adsorption equipment to treat process pollution sources, which has received verification and approval from competent authorities. Since 2015, it has been gradually replacing diesel stackers with more environmentally friendly electric stackers. By 2022, they have updated nearly 70% of their stackers. These actions contribute to their efforts to be more environmentally responsible and enhance their reputation as an environmentally conscious company.
The remaining section under "Environmental" is available only in the 'Complete Report' on purchase.
Major Competitors :
- Michelin
- Bridgestone
- Continental
- Zhengxin
- Taifeng
- Jianda
- Kumho
- Hankook
Major Brands :
- Passenger Tires
- SUV & 4*4 tires
- Winter tires
- All season tires
- Light truck tires
- Bus & trailer tires
- Motorcycle
Nankang Rubber Tire Corp SWOT & PESTLE Analysis PDF Report is a custom report and will be delivered to your email inbox within 2 business days from purchase.
TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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References used in Nankang Rubber Tire SWOT & PESTLE Analysis Report
1. History of Nankang - https://www.nankang-tyre.com/en/about/history
2. About Nankang - https://www.nankang-tyre.com/en/about/brand_story/about
3. Nankang Product series - https://www.nankang-tyre.com/en/product/series
4. Investors shareholders info - https://www.nankang-tyre.com/files/investors_shareholder_info/1684721981595.pdf
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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Nankang Rubber Tire SWOT and PESTLE analysis has been conducted by Sindhu and reviewed by senior analysts from Barakaat Consulting.
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