Growth Opportunities in the Global Automotive Tire Market
The future of the global automotive tire market looks promising with opportunities in the passengercar and light commercial vehicle. The global automotive tire market is expected to reach anestimated $257.5 billion by 2021 and it is forecast to grow at a CAGR of 4.6% from 2016 to 2021.
The major drivers of growth for this market are increasing vehicle production, increasing demandfor less rolling resistance tires led by stringent government regulations, increasing average age ofvehicles in operation, and growing demand for green tires.
In this market, passenger car, light commercial vehicle, and heavy commercial vehicle are themarket segments by vehicle type. On the basis of end user, the market is segmented into OEMsand aftermarket. The report also categorizes the market by tire type, which includes bias and radialtires. Based on its comprehensive research, Lucintel forecasts that the OEMs and heavycommercial vehicle segments are expected to show above average growth during the forecastperiod.
Within the global automotive tire market, the aftermarket segment is expected to remain the largestmarket segment. Increasing average age of vehicle in operation in the developed nations and higheconomic growth in the emerging nations are expected to drive the automotive tire sales globally,which would spur growth for this segment over the forecast period.
For business expansion, the report suggests innovation and new product development to produceeco-friendly tires, which reduces rolling resistance of vehicles and ensures passenger safety andcomfort. The report further suggests the development of partnerships with customers to create winwinsituations and development of low-cost solutions for customers.
This unique report from Lucintel will provide you with valuable information, insights, and toolsneeded to identify new growth opportunities and operate your business successfully in this market.
This report will save hundreds of hours of your own personal research time and will significantlybenefit you in expanding your business in this market. In today’s challenging economy, you needevery advantage that you can find.
Scope and Features of This Report:
To make critical business, investment, or strategic decisions, you need timely useful information.
This market report fulfills this core need and is an indispensable reference guide for materialsuppliers, product manufacturers, investors, executives, distributors, and more that operate in thismarket. Some of the features and scope of this report include the following:
Market size estimates: Growth opportunities in the global automotive tire market in terms of value ($B) and volume (Million Units) shipment
Trend and forecast analysis: Global automotive tire market trend (2010-2015) and forecast (2016-2021) by region and segment
Segmentation analysis: Global automotive tire market size from 2010 to 2021 by vehicle type, vehicle end user type, and tire type as follows:
Global automotive tire market size by vehicle type:
Light Commercial Vehicle
Heavy Commercial Vehicle
Global automotive tire market size by vehicle end user type:
Global automotive tire market size by tire type:
Regional analysis: Global automotive tire market breakdown by key regions of North
America, Europe, Asia Pacific, and the Rest of the World Growth opportunities: Analysis of growth opportunities in different vehicle, vehicle end user, tire, and regions.
Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global automotive tire market suppliers.
Emerging applications: Emerging applications of the automotive tire in the global automotive tire market.
Analysis of the competitive intensity of the industry based on Porter’s Five Forces model.