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Developments in Modern Tire Engineering Including Innovations in Tire Tread Pattern Technology to Drive Growth in the Global Tires Market


Published: March 2018

REPORT STATISTICS


  • Code: MCP-2798
  • Pages: 553
  • Tables: 257
  • Companies: 140


TIRES: A RESEARCH BRIEF

The global market for Tires is forecast to reach 2.6 billion units by 2024, driven by continuous developments in tire engineering particularly innovations surrounding tire tread technology. Macro factors driving growth in the market include healthy upswing in agrarian economies focused on mechanization and the resulting strong demand for agricultural vehicle tires; healthy recovery in the global construction industry, increased spending on construction vehicles and a parallel increase in demand for construction tires in the OEM market; strong demand for commercial vehicle tires at the back of growing investments in fleet expansion in the logistics industry; government focus on smart transportation, increased investment in BRT (Bus Rapid Transit) systems and the ensuing healthy demand for bus tires; and rising vehicle density and a commensurate expansion of addressable market opportunities for replacement tires in the aftermarket. Poised to score the highest gains in the market in the coming years will be premium and specialty tires with high speed, low rolling resistance, high insulation to reduce road noise, additional cushioning, and innovative tread grooves and patterns. Asia-Pacific represents the largest and the fastest growing market with a CAGR of 6.1% over the analysis period led by factors such as growing population, transportation needs and a parallel rise in vehicle PARC; robust growth of the logistics industry and the resulting expansion of transport vehicle fleet; growing per capita car ownership among the expanding base of middle class population; strong aftermarket opportunities fed by bad road conditions in emerging Asian economies and the increased risk of punctures; falling oil prices, increase in vehicle miles travelled and wear and tear of tires and robust replacement demand; continued trend towards radialization of commercial vehicle and passenger car tires in most emerging southeast Asian countries; growing stringency of safety regulations and consumer awareness over the fact that healthy tires equals safe rides and the resulting demand for smart new tires upgrades; growing importance proactive maintenance and replacements; and rise in environmental awareness and emerging demand for green tires. 

COMPANY AND INDUSTRY NEWS & STORIES

  • Continental Expands Summer Car Tires Range with the Addition of SportContact 6, PremiumContact 6 and ContiEcoContact 5, Among Others
  • In a Move to Expand Presence in the Russian Market, Yokohama Rubber to Supply BluEarth-A AE-50 Tires for Volkswagen Tiguan
  • Continental Introduces TractorMaster and CombineMaster Agricultural Radial Tires Range
  • Cooper Enters into an Agreement with Sailun Vietnam, in a Bid to Produce TBR Tires for the Global Market
  • Yokohama Rubber Expands Production Capacity of Off-Highway Tires with the Addition of New Manufacturing Facility in India

OUTLOOK IN KEY MARKET SEGMENTS

  • Passenger Car Tires ranks as the largest market supported by large vehicle PARC and robust replacement opportunity.
  • Two-Wheeler Tires is projected to witness the fastest growth driven by growing preference for motorcycles as a convenient & affordable urban mobility solution in developing markets.

PRODUCT DEFINITION & SCOPE

  • Serving as the only point of contact between the road and the vehicle, a tire is defined as an air filled rubber component designed to fit around the wheel for providing traction required for vehicle movement. Components of a tire include the tread, carcass, cord, bead, belt, side wall and chafer, among others.

TIMELINE FOR ANALYSIS

  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

GEOGRAPHIC MARKETS ANALYZED

  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America)

MARKET SEGMENTATION & CLASSIFICATION

  • Segments:
    • Passenger Cars, Trucks (Light Trucks, Medium/Heavy Trucks), Buses {Two-Wheelers, Off-the-Road Vehicles (Industrial & Utility Vehicles, & Farm Implements)}.

MAJOR PLAYERS

  • Apollo Tyres Ltd.
  • Bridgestone Corporation
  • Continental AG
  • Cooper Tire & Rubber Company
  • Giti Tire Pte. Ltd.
  • Goodyear Tire & Rubber Company

KEY RESEARCH DELIVERABLES

  • Review of Industry/Market Structure
  • Analysis of Trends & Drivers
  • Insights on Macro Market Scenarios
  • Market SWOT Analysis
  • Latent Demand Forecasts & Projections
  • Comprehensive Geographic Market Analysis
  • Presentation Ready Facts & Statistical Data Findings
  • Coverage of Major/Niche Players, Market Shares & Competition
  • Coverage of major Company/Technology/Product/Financial Stories
  • Extensive Product/Service/End-Use/Technology Coverage Where Applicable







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