Global Tires & Rubber industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Essential resource for top-line data and analysis covering the Global tires & rubber market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.
The tires and rubber market consists of the manufacturers revenues generated through the sales of both aftermarket (replacement) and original equipment manufacturer (OEM) tires for passenger cars and commercial vehicles, earthmoving equipment, motorcycles, scooters, bicycles, and aircraft. The volume represents the number of tires produced for passenger cars and commercial vehicles only, including OEM and aftermarket tires. For the purpose of this report, pickups and SUVs are classified as commercial vehicles even when used primarily as private passenger cars. All currency conversions used in the creation of this report have been calculated using constant 2016 average exchange rates.
The global tires & rubber market had total revenues of $ 1,103,195.2m in 2016, representing a compound annual growth rate (CAGR) of 3.5% between 2012 and 2016.
Regulation in the European market is far stricter as compared to many other parts of the world, and players in the German tires and rubber market have to ensure their products meet the eco-friendly standards set by EU regulations such as regulation 1222/2009. The Union also introduced in 2012 an “EU label” for tires deemed to be environment friendly, and many manufactures such as Continental have introduced tires such as the “SportContact 5” brand that qualify for this label. The reason for this is the increasing awareness amongst German consumers of the benefits of eco-friendly products, and players in the market have as such introduced products that will meet the demand of such consumers.
The United Steelworkers union (USW) launched a petition in 2016 to urge increased duties be imposed on imported Chinese tires which they claimed were damaging the US tires & rubber market. In February 2017 however the U.S. International Trade Commission in 3:2 vote, found that the US tires and rubber market was not damaged by the alleged “dumping” of Chinese tires into the US market. This is positive news from the point of view of Chinese tire manufacturers. Allowing continued import of Chinese tires will also keep prices in the US market down due to a diversity of tire manufacturers having access to the market. Decreased supply as would have happened in the case of a duty imposed on Chinese tire imports, would have caused prices to go up.
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What was the size of the Global tires & rubber market by value in 2016?
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How has the market performed over the last five years?
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