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.
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Key Players of Automotive Tire Market:
- 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)
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.
Asia-Pacific region is expected to dominate the automotive tire market with highest CAGR due to the volume of production and adoption of automobiles in the region. The rapid and huge investments by industry players of the region are further expected to spur the growth here. The improvement in the economic conditions of developing nations in the region is expected to drive the Asia- pacific automotive tire market.
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
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
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