Advances in tire technology continued with the advent of new and existing companies. Present day tire vendors manufacture tires to suit the needs of multiple automobile classes and hence, the market is segmented in terms of application and technology. There are specific tires for definite weather conditions, including all-season, winter, and summer tires. There is a broad spectrum of both global and local tire vendors present in the tire market. This makes it very competitive.
The analysts forecast the global passenger vehicle replacement tire market to grow at a CAGR of 7.24% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global passenger vehicle replacement tire market for 2016-2020. To calculate the market size, the report considers a top down approach.
The market is divided into the following segments based on geography:
The report, Global Passenger Vehicle Replacement Tire Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Other prominent vendors
- Cooper Tire and Rubber Company
- Decrease in the price of gasoline by 60% in the US: Driving demand for gasoline-powered vehicles
- Growing market of retreading tires: Replacement tire market under pressure
- Tire brands influencing buying preferences: Michelin ranked highest for satisfaction in luxury segment and Pirelli ranked highest in performance sports segment
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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- Report coverage
- Top-vendor offerings
- Research methodology
- Economic indicators
- Key market highlights
- Value chain analysis
- Other business models in replacement tire ecosystem
- Regulatory Framework
- Market overview
- Market size and forecast
- Manufacturing process
- Five forces analysis
PART 07: Market challenges
PART 08: Market trends
PART 09: Market segmentation by geography
- Global passenger vehicle replacement tire market by geography
- Global passenger vehicle replacement tire market by type
- Competitive benchmarking
- Other prominent vendors
PART 13: Appendix
- List of abbreviations
List of Exhibits
Exhibit 01: Scope of the report
Exhibit 02: Products offerings
Exhibit 03: Market highlights
Exhibit 04: Tire load-speed ratio comparison by application
Exhibit 05: Tire load capacity for respective load indexes
Exhibit 06: Various types of tire rolling resistance in the context of fuel consumption
Exhibit 07: Value chain involved in automotive tire manufacturing
Exhibit 08: Tire manufacturing industry best practices 2015
Exhibit 09: Regulatory framework for tire manufacturers
Exhibit 10: Global passenger vehicle replacement tire market 2016-2020 (millions of units)
Exhibit 11: Segmentation of global passenger vehicle replacement tire market
Exhibit 12: Racing tire manufacturing process
Exhibit 13: Five forces analysis
Exhibit 14: Drivers in global passenger vehicle replacement tire market
Exhibit 15: Challenges in global passenger vehicle replacement tire market
Exhibit 16: Trends in global passenger vehicle replacement tire market
Exhibit 17: US tire satisfaction index ranking for various tire brands 2016
Exhibit 18: Global passenger vehicle tire replacement tire market segmentation by geography
Exhibit 19: Passenger vehicle replacement tire market 2016-2020: EMEA (millions of units)
Exhibit 20: European vehicle parc 2015-2020 (millions of units)
Exhibit 21: Passenger vehicle replacement tire market 2016-2020: Americas (millions of units)
Exhibit 22: US Replacement tire sales 2014
Exhibit 23: US, units shipped (imports included): Passenger tires
Exhibit 24: US passenger car tire market 2014
Exhibit 25: US replacement consumer tire brands share 2014
Exhibit 26: Original equipment tire brand shares in 2014: BMW
Exhibit 27: Original equipment tire brand share in 2014: Mercedes-Benz
Exhibit 28: Passenger vehicle replacement tire market 2016-2020: APAC (millions of units)
Exhibit 29: Global passenger vehicle replacement tire market segmentation by type
Exhibit 30: Passenger vehicle replacement tire market 2016-2020: OEM (millions of units)
Exhibit 31: Michelin's tire market 2015
Exhibit 32: Passenger vehicle replacement tire market 2016-2020: Aftermarket (millions of units)
Exhibit 33: Comparison of performance ratings of Falken tires
Exhibit 34: Comparison of performance ratings of Kumho tires
Exhibit 35: Competitive benchmarking
Exhibit 36: Product offerings of Bridgestone
Exhibit 37: Product offerings of Goodyear
Exhibit 38: Product portfolio of Michelin
Exhibit 39: Product portfolio of Firestone
The author of the report recognizes the following companies as the key players in the global passenger vehicle replacement tire market: Bridgestone, Goodyear, Michelin, and Firestone.
Other Prominent Vendors in the market are: Yokohama, Hankook, Dunlop, and Cooper Tire and Rubber Company.
Commenting on the report, an analyst from the research team said: “Taxi cabs are not a modern concept as they have been in use in many countries since the beginning of 19th century, like the famous London black cabs, New York yellow cabs, and Uber to name a few. They are a convenient alternative to commute without the need of driving a personal vehicle or using public transport. In the last decade, the automotive industry witnessed a trend of almost every household having two cars instead of one. But with the advent and popularity of new modes of vehicle ownership, such as car sharing and pooling, people are happy with one vehicle and prefer to use taxi instead of a second car.”
According to the report, the growth of the automotive industry (especially in passenger cars and commercial vehicles) is also powered by financing flexibility options, which increase consumer-spending confidence and sales. In countries like India and China (where 75%-80% of new vehicle purchases are based on car loans), car financing is a major driver aiding market expansion.
Further, the report states that the global passenger vehicle tire market is witnessing a continuous trend toward large diameter, lower profile tires. This has impacted tire costs. It has also affected replacement tire parameters and manufacturer product offerings. For example, the success of Euro-style vans, especially in the past couple of years, has exceeded the total sales of traditional body-on-frame vans. Hence, it is evident that fleets that moved on to new-generation cargo vans will see higher tire prices, which is driven by new euro-metric and unique tire sizes. More euro-metric tire sizes, which are rated P or T in the load range prefix, are being introduced. Therefore, replacing these tires can be a challenge due to their limited availability and significantly higher price.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.