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Monday, February 8, 2016

Growth opportunity in automotive tire industry: Lucintel anticipates that Asia Pacific and Rest of the World regions will grow at a faster pace within the next five years based on advanced tire technologies, and strong recovery in vehicle sales



According to a new market report published by Lucintel, the future of the global automotive tire industry looks strong with opportunities in the passenger car, commercial vehicle, two-wheeler, and specialty tire. The global automotive tire industry is forecast to grow at a CAGR of 5.3% from 2015 to 2020. The major drivers of growth for this market are increase in the production of medium and heavy-duty vehicles and rise in replacement tire demand.

In this market, passenger car tire, commercial vehicle tire, two-wheeler tire, and specialty tire are some of the major segments. On the basis of its comprehensive research, Lucintel forecasts that the two-wheeler tire and passenger car tire segments are expected to show above average growth during the forecast period. 

Within the global automotive tire market, the passenger car tire segment is expected to remain as the largest market. Availability of credit and attractive vehicle prices are expected to drive vehicle sales, which would spur growth for this segment over the forecast period.

Asia Pacific is expected to remain the largest market due to high vehicle production, improvement in the economic conditions and increasing investment by the industry players within the APAC region. 

North America and Rest of the World are expected to witness significant growth over the forecast period because of increase in the passenger car and light commercial vehicle production in the US and Brazil.
For market expansion, report suggests innovation and new product development to improve the tire performance. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for the end user.

Emerging trends, which have a direct impact on the dynamics of the industry, include the introduction of fuel efficient tires and evolution of green tires. Bridgestone Corporation, Michelin SCA, Goodyear Tire & Rubber Company, Continental AG, and Pirelli & C. SpA are the major tire manufacturers in the global automotive tire industry. Some companies are opting for merger & acquisition as strategic initiatives for driving growth.

Lucintel, a leading global strategic consulting and market research firm, has analyzed opportunities for tires in the global automotive industry by  application and region  and has come up with a comprehensive research report, “Growth Opportunities in Global Automotive Tire Industry 2014-2019: Trend, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategies, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the automotive tires through 2020, segmented by application and region as follows:
 
By application ($ billion from 2008 to 2019)

·         Passenger Car Tire
·         Commercial Vehicle Tire
·         Two-Wheeler Tire
·         Specialty Tire

By region ($ billion from 2008 to 2019)

·         North America
·         Europe
·         Asia Pacific
·         Rest of the World

This 122-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/reports/mass_transportation/global_automotive_tire_industry_2014_2019_trend_profit_and_forecast_analysis_july_2014.aspx or   helpdesk@lucintel.com. 

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.


This report answers following 11 key questions:

Q. 1     How big the opportunities for automotive tire industry by applications and regions?
Q. 2.    Which segments will grow at a faster pace and why? 

Q. 3.    Which region will grow at a faster pace and why? 

Q.4      What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5.     What are the business risks and threats of this market?
Q.6      What are emerging trends in this market and reasons behind them?
Q.7      What are some changing demands of customers in the market?
Q.8      What are the new developments in the market? Which companies are leading these developments?
Q.9      Who are the major players in this market? What strategic initiatives are taken by key players for business growth?
Q.10    How is the competitive rivalry and threat of substitution in this market?
Q.11.   How many M & A activities happened during last 1- 2 years and what are their impacts?

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