Global Specialty Tire Market 2016-2020
About Specialty Tire
Tires are manufactured using raw materials such as natural or synthetic rubber, including styrene-butadiene rubber and poly-butadiene rubber; nylon tire cord fabric; and carbon black.
Specialty tires are designed for specific weather conditions or specific vehicles. These tires are used in aircraft, two-wheelers, OTR vehicles, and agricultural, mining, construction, earthmoving, and industrial equipment.
Technavio’s analysts forecast the global specialty tire market to grow at a CAGR of 3.68% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global specialty tire market for 2016-2020. To calculate the market size, the report considers the total production of specialty tires for OEMs and aftermarket sales.
The market is divided into the following segments based on application:
Technavio Announces the Publication of its Research Report – Global Specialty Tire Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Specialty Tire Market: Alliance Tire Group, Bridgestone, Continental, Goodyear Tire and Rubber and Michelin.
Other Prominent Vendors in the market are: Armour Tires, Akuret, American Farmer, BalKrishna Industries, Carlisle, Harvest King, and Mitas.
Commenting on the report, an analyst from Technavio’s team said: “Specialty tires are manufactured with a focus on specific applications that require better durability and safety. As these are used in aircraft, mining trucks, agricultural machines, construction equipment, and heavy trucks, the tires are exposed to extreme conditions.”
According to the report, the mining and construction industries are major users of specialty tires. Currently, investments in the mining industry are increasing, as there is high demand for metals and other related commodities. Demand for large and ultra-large radials for mining equipment and construction machinery is also growing rapidly.
Further, the report states that the biggest concern in the tire industry is to reduce the impact of used tires on the environment.
Alliance Tire Group, Bridgestone, Continental, Goodyear Tire, Rubber, Michelin.