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
·
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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