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Tires - Market Analysis, Trends, and Forecasts

  • ID: 338787
  • Report
  • March 2020
  • Region: Global
  • 618 Pages
  • Global Industry Analysts, Inc
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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
  • CEAT
  • 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
  • Michelin
  • MITAS A.S.
  • MRF
  • 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.
Note: Product cover images may vary from those shown
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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
EXHIBIT 1: Tire Composition: Percentage Breakdown of Components by Weight for Passenger Car and Truck Tires
Types of Automotive Tires
Radial Tires
Bias Tires
EXHIBIT 2: Belt Cord Construction for Passenger Tires for Replacement and OEM Market: Percentage Composition by Material Type
EXHIBIT 3: Body Cord Construction for Passenger Tires for Replacement and OEM Market: Percentage Composition by Material Type for Radial and Bias Ply 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
EXHIBIT 4: Growing Volumes of Reclaimed Rubber Highlights the Progressive Improvements Made in Scrap Tire Recycling: Global Reclaimed Rubber Market (in Kilo Tons) for the years 2014, 2016 and 2022
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
EXHIBIT 5: World Tires Market by Region: Percentage Breakdown of Revenues for China, Other Emerging Regions and Developed Regions for the Years 2019 & 2025
EXHIBIT 6: World Tires Market: Geographic Regions Ranked by Value CAGR for 2018-2025
Stable Economic Scenario to Positively Influence Automotive Tires Market
EXHIBIT 7: Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
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
EXHIBIT 8: Bridgestone & Next Door Rival Michelin Fight It Out for Market Supremacy: Market Share Breakdown of Leading Players in the Global Tires Market for the Year 2019

2. FOCUS ON SELECT PLAYERS
Apollo Tyres Ltd. (India)
Avon Tyres (UK)
Bridgestone Corporation (Japan)
CEAT (India)
Cheng Shin Rubber Ind. Co. Ltd. (China)
Continental AG (Germany)
Cooper Tire & Rubber Company (USA)
Giti Tire Pte. Ltd. (Singapore)
Goodyear Tire & Rubber Company (USA)
Hankook Tire Co., Ltd. (South Korea)
JK Tyre & Industries Ltd. (India)
Kumho Tire Co., Inc. (South Korea)
Maxxis International (Taiwan)
Michelin (France)
MITAS A.S. (Czech Republic)
MRF (India)
Nexen Tire Corporation (South Korea)
Nokian Tyres Oyj (Finland)
Pirelli & C. S.p.A. (Italy)
Shandong Linglong Tire Co., Ltd. (China)
Sumitomo Rubber Industries, Ltd (Japan)
Techking Tires Ltd. (China)
Titan International, Inc. (USA)
Toyo Tire & Rubber Co., Ltd. (Japan)
Trelleborg Wheel Systems Americas, Inc. (USA)
Yokohama Rubber Co., Ltd. (Japan)
Zhongce Rubber Group Co., Ltd. (China)

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
EXHIBIT 9: China Leads Tire Radialization Growth in terms of Domestic Consumption and Exports: Chinese Production of Passenger Car Radial (PCR) and Light Truck Radial (LTR) Tires (In Million Units) for the Years 2012, 2015, 2018, 2020 and 2025
Airless Tires Emerge Over the Horizon
Tire Replacement Needs among the Growing Global Vehicle Population Drives Opportunities in the Aftermarket
EXHIBIT 10: Rising Vehicle Density Expands the Addressable Market for Replacement Tires in the Aftermarket: Global Passenger Car & Commercial Vehicle Population (In Million Units) for the Years 2017 and 2020
EXHIBIT 11: Tire Aftermarket, a Cyclical Market Dependent on the Replacement Cycle: Automotive Tire Replacement Cycle (in Number of Years) by Region for the Year 2019
Retreaded Tires: An Important Niche in the Aftermarket
Automobile Production Trends Dictate Growth in the OEM Tires Market
EXHIBIT 12: Surplus Automobile Production Capacity Especially in China Bodes Well for Tire Demand in the OEM Market: Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
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
EXHIBIT 13: A Futuristic Eco-Friendly Tire Concept, Airless Tires Continue to Elicit Development Focus from Leading Tire Manufacturers: Global Market for Airless Tires (In US$ Million) for the Years 2018 and 2024
eCommerce Catalyzes Urban Logistics
What Does it Mean for the CV Tires Market?
EXHIBIT 14: Projected Expansion of Vehicle Fleet Supported by the Growth in E-Commerce Logistics to Benefit Demand for Commercial Vehicle Tires: Global E-Commerce Logistics Market (In US$ Million) for the Years 2018 and 2023
Focus on Smart Transportation & Increased Investments in BRT to Benefit Demand for Bus Tires
EXHIBIT 15: Popularly Referred to as Rail on Rubber Tires, BRTs to Generate Strong Demand for Bus Tires: Global Number of Heavy Duty Transit Buses (In 000) by Country for the Year 2018 and 2022
Need for Convenient & Affordable Urban Mobility in Developing Markets Drives Demand for Two Wheelers & Two-Wheeler Tires
EXHIBIT 16: As the Smart Choice for Urban Mobility in Crowded Cities, Projected Gains in Sales of Two Wheelers Catalyzes Demand Opportunities for OEM Two Wheeler Tires: Global Spending on Two Wheelers (In US$ Billion) by Geographic Region for the Years 2018 and 2022
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
EXHIBIT 17: As a Key Underlying Demand Driver, the Stable Outlook for the Construction Industry Strengthens the Baseline Growth Forecasts of Construction Vehicle Tires: Global Construction Spending (In US$ Billion) for the Years 2019, 2022, and 2025
EXHIBIT 18: Projected Need for Construction Vehicles in line With the Expected Recovery in the Industry’s Outlook to Expand the Market Opportunity for Construction Tires in the OEM Market: Global Spending on Construction Vehicles (In US$ Billion) by Vehicle Type for the Years 2017 & 2020
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
EXHIBIT 19: Projected Growth in CAPEX Spending on Agricultural Vehicles & Machinery Provides the Cornerstone for Growth of OEM Agricultural Tires: Global Sales of Agricultural Vehicles (In US$ Billion) by Type for the Years 2016 and 2020
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
EXHIBIT 20: As the Key Demographic Driver of Automobile Growth, Middle Class Population in Asia Represents the Most Prominent Indirect Demand Driver for Tires : Global Middle Class Population (In Million) by Geographic Region for the Years 2017, 2022 & 2030
EXHIBIT 21: Breakdown of World Middle Class Spending (In US$ Trillion) by Region for the Years 2017 & 2030
Technology Developments in Tire Cords Remain Crucial to the Tire Market
EXHIBIT 22: Strong Growth of the Tire Cord Market Bodes Well for the Tire Industry: Global Consumption of Tire Cord (In Metric Tons) By Material Type for the Years 2018, 2022 and 2024
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
EXHIBIT 23: With Melting Oceans Causing Cold Winter Storms & Snowfalls, Demand for Winter Tires Receives a Major Boost: Global Sales of Winter Tire (In US$ Billion) for the Years 2015, 2017 and 2022
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
EXHIBIT 24: Accounting for Over 45% in Total Cost of Tire Production, Rubber Prices Remain the Prime Determinant of Competitive Tire Pricing Capabilities: Percentage of Tire Raw Material Cost Breakdown by Material Type
EXHIBIT 25: Firming Up of Rubber Prices, Price Sensitivity in the Retail Tires Market & the Resulting Inability to Pass on Increased Cost to the Customer to Deflate Tire Manufacturers’ Profit Margins: Thailand and Malaysian Natural Rubber Prices (In US$ Per Kg) for the Years 2012, 2014, 2016, 2017 and 2018
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
GEOGRAPHIC MARKET ANALYSIS
UNITED STATES
Market Facts & Figures
EXHIBIT 26: Leading Brands in the US Replacement Passenger Tires Market (2019): Percentage Share Breakdown of Unit Sales by Brand
EXHIBIT 27: Leading Brands in the US Replacement Light Truck Tires Market (2019): Percentage Share Breakdown of Unit Sales by Brand
EXHIBIT 28: Leading Brands in the US Replacement Medium/Heavy Truck Tires Market (2019): Percentage Share Breakdown of Unit Sales by Brand
EXHIBIT 29: US Market for Rear Farm Tires by Type (2019): Percentage Share Breakdown of OEM and Replacement by Radial and Bias Tires
EXHIBIT 30: Leading Brands in the US Radial Rear Replacement Farm Tires Market (2019): Percentage Share Breakdown of Shipments by Brand
EXHIBIT 31: Leading Brands in the US Bias Rear Replacement Farm Tires Market (2019): Percentage Share Breakdown of Shipments by Brand
EXHIBIT 32: US Market for Consumer Tires (2019): Percentage Share Breakdown of Retail Sales by Distribution Channel
EXHIBIT 33: North American Tires Manufacturing Plant Capacities (in Thousand Units Per Day) by Select Leading Tire Manufacturers As of January 2018
United States: An Important Market for Tires
Onshoring of Tire Manufacturing to Infuse New Optimism
A Glimpse of Recent Tire CAPEX Announcements in the US
EXHIBIT 34: US Tire Market (2019): Percentage Share Breakdown of Consumer Sales by Brand Type
EXHIBIT 35: US Truck Tire Replacement Market (2019): Percentage Breakdown of Annual Revenue by Category
Market Analytics
CANADA
JAPAN
Overview of Japanese Tire Industry
EXHIBIT 36: Japanese Production of Automotive Tires (in Million Units) for the Period 2011-2018
Market Analytics
CHINA
Market Overview
Presence of Huge Automotive Manufacturing Industry Makes China a Lucrative Market for Tires
Challenges Imposed on Chinese Tire Manufacturers by the EU Labeling System
Will Automotive Manufacturing Including Tires Shift From China to the United States?
Chinese Ministry to Push for Achieving Optimum Radialization
Market Analytics
EUROPE
A Major Regional Market for Tires
Factors Influencing the European Tires Market
Major Trends in Tire Manufacture
Low Rolling Resistance Truck and Bus Radial Tire Market
Small Companies Dominate in Specialized Niches
Government Laws Push Demand for Winter Tires
Upward Brand Mobility to Benefit in the Long Term as Grading System for Car Tires Take Effect in EU
Market Analytics
FRANCE
GERMANY
A Brief Insight into German Automobile Market
Market Overview
Market Analytics
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
Market Overview
Leading Tire Manufactures Invest in Russian Market
Passenger Car and OTR Tires Boost Market Demand
Market Analytics
REST OF EUROPE
ASIA-PACIFIC
Automotive Industry in Asia-Pacific to Witness Steady Growth Helping Sustain Demand for OEM Tires
Market Analytics
INDIA
Automobile Industry in India
Radialization Gains Prominence in India
EXHIBIT 37: Indian Tires Market (2019): Percentage Breakdown of Volume Production by Vehicle Segment
EXHIBIT 38: Percentage Penetration of Radial Truck and Bus Tires in the Indian Market for the years 2012, 2017 and 2020 by Category
India to Emerge as a Hub for Radial Tire Manufacturing
High Rate of Luxury Car Adoption Drives Demand for Radial Tires
Two Wheeler Tire - A Growing Market
TBR Tires Gain Consumer Attention
India: A Niche Market for Tire Materials
Competition
Market Analytics
REST OF ASIA-PACIFIC
LATIN AMERICA
Overview of Automobile Industry in Latin America
Market Analytics
BRAZIL
REST OF LATIN AMERICA
REST OF WORLD
Saudi Arabia: High Demand for Replacement Tires
Market Analytics

IV. COMPETITION
Total Companies Profiled : 119 (including Divisions/Subsidiaries - 168)
Note: Product cover images may vary from those shown
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