The Tires market worldwide is projected to grow by 731.6 Million Units, driven by a compounded growth of 4.6%.
Radial, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.7%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over 2.2 Billion Units by the year 2025, Radial will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 3.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over 34.9 Million Units to the region's size and clout in the next 5 to 6 years. Over 35.4 Million Units worth of projected demand in the region will come from Rest of Europe markets.
In Japan, Radial will reach a market size of 117.5 Million Units by the close of the analysis period. As the world's second largest economy and the new game changer in global markets, China exhibits the potential to grow at 6.1% over the next couple of years and add approximately 208.3 Million Units in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East.
All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others:
- Apollo Tyres Ltd.
- Avon Tyres
- Bridgestone Corporation
- Cheng Shin Rubber Ind. Co. Ltd.
- Continental AG
- Cooper Tire & Rubber Company
- Giti Tire Pte. Ltd.
- Goodyear Tire & Rubber Company
- Hankook Tire Co., Ltd.
- JK Tyre & Industries Ltd.
- Kumho Tire Co., Inc.
- Maxxis International
- MITAS A.S.
- Nexen Tire Corporation
- Nokian Tyres Oyj
- Pirelli & C. S.p.A.
- Shandong Linglong Tire Co., Ltd.
- Sumitomo Rubber Industries, Ltd
- Techking Tires Ltd.
- Titan International, Inc.
- Toyo Tire & Rubber Co., Ltd.
- Trelleborg Wheel Systems Americas, Inc.
- Yokohama Rubber Co., Ltd.
- Zhongce Rubber Group Co., Ltd.
Key Topics Covered
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Automotive Tires: An Introduction
- Definitions of Key Tire components
- Elements of Tire Designing
- Dynamics of Design Element of Tires
- Trade-Off between Fuel-Efficient and Non-Fuel-Efficient Tires
- Developments in Design
- Types of Automotive Tires
- Radial Tires
- Bias Tires
- Advantages of Radial Tires over Bias Tires
- Wide-Base Tires
- Tire Classification and Segmentation by Vehicle Type
- Passenger Car Tires
- Bus Tires
- Truck Tires
- Two Wheeler Tires
- Off-The-Road Tires
- Tire Recycling
- Tires: The Most Important Part of the Automobile
- Rising Automobile Production and Technological Advances Set Perfect Stage for Growth of Global Tire Market
- Recent Market Activity
- China and Other Developed Regions Exhibit Faster Growth Pace
- Stable Economic Scenario to Positively Influence Automotive Tires Market
- Key Growth Drivers in Nutshell
- Anticipated Increase in Vehicle Production
- Increasing Automotive Sales
- Rising Adoption of High-Performance Tires
- Rising LCV Sales to Benefit Radial Tires
- Extended Operating Lifespan of Vehicles
- Increasing Competition and Sophisticated Manufacturing Processes
- Coronavirus Outbreak Catches Automotive and Tire Industries Off-Guard
- Competitive Landscape
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Bad Road Conditions & Increased Risk of Punctures Drive Demand for Run-Flat Tires & Self-Sealing Tires
- Hitting Saturation in Developed Countries, Radialization Continues to Bulldoze Growth in Tire Markets in Emerging Countries
- Airless Tires Emerge Over the Horizon
- Tire Replacement Needs among the Growing Global Vehicle Population Drives Opportunities in the Aftermarket
- Retreaded Tires: An Important Niche in the Aftermarket
- Automobile Production Trends Dictate Growth in the OEM Tires Market
- Growing Investments in Fleet Expansion in the Logistics Industry Against the Backdrop of Improving Trade to Benefit Demand for CV Tires
- Improving Outlook for Intra-Regional & Inter-Regional Trade Expands Establishment of Inland Logistics Hubs
- eCommerce Catalyzes Urban Logistics
- What Does it Mean for the CV Tires Market?
- Focus on Smart Transportation & Increased Investments in BRT to Benefit Demand for Bus Tires
- Need for Convenient & Affordable Urban Mobility in Developing Markets Drives Demand for Two Wheelers & Two-Wheeler Tires
- An Overview on Off-The-Road (OTR) Tires Industry - The Niche Market Segment
- Strong Demand Cues and Rising Mechanization to Impel Off-The-Road Tire Market
- New Tire Materials Present Expansion Opportunities
- Construction & Mining Equipment Segment to Post Fastest Growth
- Healthy Recovery in Global Construction Industry Bodes Well for Tires for Off-Road Construction Vehicles
- Strong Demand for below 31-Inch Tires
- Original Equipment Continues to Hold Major Share
- USA and Asia: The Key Markets
- Technological Advancements Augment Market Growth
- Product Innovation & Capacity Expansion Remain Key Strategies
- Healthy Upswing in Agrarian Economies Drives Demand for Agricultural Vehicle Tires
- Continuous Innovation in Farm Tires Targeted to Improve Performance to Benefit Growth Patterns
- High Performance Advanced Tires: Rising Automotive Production and Favorable Regulations Fuel Growth
- Increasing Focus on Safety & Fuel Economy
- Stringent Regulations for Fuel Economy & Vehicular Emission
- Middle Class Population: An Indirect Growth Driver for Tires
- Technology Developments in Tire Cords Remain Crucial to the Tire Market
- Engineering Tire Tread Patterns, the Most Complex Part of Tire Engineering
- Growing Role of Nanotechnology Offers Benefits That Cover the Entire Life-Cycle of Tires
- Climate Change and Harsher Winters Drive Demand for Winter Tires
- Innovation in Green Tire Construction, Vitally Important For Sustainable Growth of the Tires Market
- Raw Material Pricing Scenario: A Major Determinant of Manufacturer Profitability
- Natural Rubber (NR) Prices Begin to Strengthen After 4 Years of Price Erosion
- Tight Supply of Synthetic Rubber (SR), Higher Prices Squeeze Manufacturer Profit Margins
- EU Tire Regulations to Give Established Players a Much Needed Boost
- Key Market Restraints and Challenges
- Rising Adoption of Retreading Tires
- Volatile Prices of Raw Materials
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
Total Companies Profiled: 119 (including Divisions/Subsidiaries - 168)
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