Global Automotive Tire Market Information Report by Type (Radial, Bias/ Cross Ply), By Section Width (<200 Mm, 200-230mm, <230mm), By End Market (OEM’s, Aftermarket), By Application (Passenger Cars, Commercial Vehicle) and By Region – Global Forecast To 2022
The rise in disposable income and the standard of living of consumers is leading to the increase in sales of cars which directly leads to the growth of the automotive tire market. The introduction of advanced technology in the tire manufacturing is also contributing in the growth of the market. The increase in the operating life of automobiles raises the need of changing the tire during the life of the vehicle. This leads to the increase in sales of the tire manufacturers thereby, driving the growth of the industry. The existence of large number of players in the market and the low differentiation in the process of tire manufacturing creates intense competition among the existing players. This leads the automotive tire market to be nearly stable in terms of pricing by the suppliers.
Market Research Analysis
Based on the end market, aftermarket is expected to be the highest growing segment. The increase in the average life of the vehicle in operation and the high economic growth in developing nations are expected to drive the sales of the automobile tires globally. This is expected to eventually drive the growth of the aftermarket.
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Asia-Pacific is expected to dominate the global automotive tire market due the rapidly increasing domestic consumption and the availability of cheap labor in the region. Due to the rising demand in rural areas, India is the fastest growing country in the region, in passenger cars segment. This contributes to the growth of the Asia-pacific region in automotive tire market. Europe region is the second highest in the global automotive tire market. This demand is driven by the booming sport utility vehicles which require high quality automotive tires.
Asia-Pacific region is expected to dominate the market due to increase in number of vehicle manufacturing facilities in the developing nations such as India and China. The number of vehicle manufacturing facilities is increasing owing to factors such as low production cost, increasing production capabilities and the easy availability of labor and raw material in the region. The North America region is expected to grow at a very slow growth rate as the automobile industry in the region has already reached maturity stage.
The key players of Automotive Tire Market are Continental AG (Germany), Cooper & Rubber Company (U.S.), Hankook Co. Ltd. (South Korea), Goodyear & Rubber Company (U.S.), Michelin Group(France), Pirelli & C. S.p.A.(Italy), Sumitomo Rubber Industries, Ltd. (Japan), Bridgestone Corporation (japan), Toyo Tire & Rubber Co., Ltd. (Japan), Yokohama Rubber Co. Ltd.(Japan) and others.
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Scope of the Report
This study provides an overview of the Global Automotive tire market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Automotive tire market by its type, section width, end market, application and region.
- Bias/cross ply
By Section Width
- <200 mm
- 200-230 mm
By End Market
- After market
- Passenger cars
- Commercial vehicle
- North America
- Asia Pacific
- Rest of the World
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