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Nankang Rubber Tire Corp SWOT & PESTLE Analysis

ID : 521758453| Aug 2023| 21 pages

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

SWOT
PESTLE
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.
SWOT & PESTLE (combined)
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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.

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
SWOT & PESTLE (combined)
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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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