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Global Automotive Summer Tire Market: About this marketSpeak directly to the analyst to clarify any post sales queries you may have.
Automotive summer tires are made from softer composite materials and have fewer grooves compared with all-season tires. Automotive summer tires offer high performance with enhanced traction and reduced rolling resistance. The automotive summer tire market analysis considers sales of tires through replacement and OEM distribution channels. Our analysis also considers the provision of automotive summer tire in APAC, Europe, MEA, North America, and South America. In 2018, the replacement segment held the highest market share, which is expected to remain prevalent over the forecast period. Factors such as rising vehicle miles driven annually and preference for winter tires during the winter season, especially in most of the European countries, are augmenting tire replacement needs. As a result, the replacement segment will maintain its leading market position over the forecast period. Also, our global automotive summer tire report has observed market growth factors such as a preference for summer tires as OE fitment by vehicle manufacturers, increase in demand for high-performance tires, and increase in sales of luxury vehicles. However, challenges such as availability of alternatives, volatility in raw material prices, and product recalls may hamper the growth of the automotive summer tire industry over the forecast period.
Global Automotive Summer Tire Market: Overview
Increase in demand for high-performance tires
The automotive industry has been incorporating advanced features into vehicles owing to the advent of new technologies. In line with this, automotive tires are also undergoing advances; anti-locking braking system, electronic brakeforce distribution, electronic stability control, and traction control are a few of the high-performance tire attributes. As a result, automotive summer tire vendors must continue to match the automotive industry standards and offer high-performance tires as OE fitment and replacement. Furthermore, the rising awareness about the performance of these features in tires will increase their demand rate among vehicle owners and automotive manufacturers. As a result, the global automotive summer tire market is expected to record a CAGR of almost 5% during 2019-2023.
The emergence of intelligent tires
Vendors are innovating products to increase sales and maintain pace with the growing adoption of autonomous technologies in the automotive industry. The rising sales and demand for automated and electric vehicles will increase sales of intelligent tires, contributing to the market growth during the forecast period. Vendors have started incorporating sensor technologies in tires to monitor road conditions, tire pressure, and temperature. The emergence of intelligent tires is one of the key automotive summer tire market trends.
Competitive Landscape
With the presence of several major players, the global automotive summer tire market is fragmented. The robust vendor analysis is designed to help clients in improving their market positions, and in line with this, this report provides a detailed analysis of several leading vendors such as Apollo Tyres Ltd., Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Hankook Tire Co. Ltd., Michelin Group, Pirelli & C. Spa, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Co., and The Yokohama Rubber Co. Ltd.
Also, the automotive summer tire market analysis report includes information on upcoming trends and challenges that will influence market growth. This will help companies to stratege and leverage on all forthcoming growth opportunities.
Table of Contents
PART 01: EXECUTIVE SUMMARYPART 07: CUSTOMER LANDSCAPEPART 09: DECISION FRAMEWORK
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
PART 08: GEOGRAPHIC LANDSCAPE
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
List of Exhibits
Executive Summary
The following companies are recognised as the key players in the global automotive summer tire market: Apollo Tyres Ltd., Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Hankook Tire Co. Ltd., Michelin Group, Pirelli & C. Spa, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Co., and The Yokohama Rubber Co. Ltd.Commenting on the report, an analyst from the research team said: “The latest trend gaining momentum in the market is the emergence of intelligent tires.”
According to the report, one of the major drivers for this market is the increase in demand for high-performance tires.
Further, the report states that one of the major factors hindering the growth of this market is the availability of alternatives.
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.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Apollo Tyres Ltd.
- Bridgestone Corp.
- Continental AG
- Cooper Tire & Rubber Co.
- Hankook Tire Co. Ltd.
- Michelin Group
- Pirelli & C. Spa
- Sumitomo Rubber Industries Ltd.
- The Goodyear Tire & Rubber Co.
- The Yokohama Rubber Co. Ltd.