LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent port and industrial tire market in Asia Pacific 2016-2020 report. This research report also lists 10 prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
All major players in the market are upgrading to a new range of products designed for sea and airport handling equipment, in a bid to tap potential market opportunity. Research reveals that sea and airport terminal operators (that are consumers of the port and airport handling equipment and in turn end users of port and industrial tires) focus on boosting operating safety, efficiency, and costs -- in that order of importance. Therefore, companies are enhancing their capabilities in these areas in a bid to serve their customers better.
“Tire manufacturers are working to reduce the quantity of raw materials and solvents used in the manufacturing process in a bid to reduce emissions of volatile organic compounds (VOCs). These sustainability solutions help vendors build brand reputation and remain competitive in the open market,” says Siddharth Jaiswal, lead analyst at Technavio for wheels and tires research.
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Alliance Tire Group (ATG)
Alliance Tire Group, established in 1950, is headquartered in Hadera, Israel. It operates as a subsidiary of Kohlberg Kravis Roberts, a New York-based multinational private equity firm. The company produces agricultural, forestry, industrial, and OTR tires, and offers them under the brands, Alliance, Galaxy, and Primex, to OEMs and aftermarket customers.
ATG, along with its subsidiaries and affiliates, operates in 120 countries, including Argentina, Brazil, Australia, France, Canada, China, Germany, Iberia, India, Scandinavia, Israel, Italy, South Africa, the Netherlands, and the US.
Balkrishna Industries, established in 1987, is headquartered in Mumbai, India. It supplies a variety of tires for both the OEM and replacement markets, and is a leading manufacturer in the off-highway tire market.
With over 6,000 employees, the company has 10 subsidiaries and five production facilities and distribution networks in over 130 countries across the Americas, Europe, and APAC.
Continental, established in 1871, is headquartered in Hanover, Germany. It sells passenger cars, light trucks, industrial tires, and related products. The company also specializes in tachographs, brake systems, tires, automotive safety, powertrain components, chassis components, and other related parts for the automotive and transportation industries. Continental manufactures soft rubber products, rubberized fabrics, and solid tires for carriages and bicycles.
Michelin, founded in 1889, is headquartered in Clermont-Ferrand, France. The company manufactures a wide-range of tires for cars, vans, trucks, earthmovers, motorcycles, farm machinery, aircraft, construction, mining equipment, and subway trains.
In FY2014, the company employed about 112,300 people, and had a strong operational network of over 3,500 service centers, dealers, and 67 production facilities in more than 17 countries. It serves customers in over 170 countries across the Americas, EMEA, and APAC.
Nokian Tyres, founded in 1932, is headquartered in Nokia, Finland. The company focuses on products and services that facilitate safe transportation in northern conditions. It manufactures a wide range of tires for passenger cars, trucks, and heavy-duty machinery. Nokian's products are mainly marketed in areas that have snow, forest, and changing seasons – all of which make for demanding driving conditions.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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