Tire key trends and strategies explained

 
  • Currently 3/5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
12 votes
Share

Global Tire Industry

 

The global tire industry is set to record close to 5% yearly growth in volume demand through 2015 to reach almost 3.5 billion units, according to research from Freedonia. The industry is expected to witness close to 7% yearly growth in revenue to reach $220 billion in 2015. Between 2010 and 2015, the global tire industry is forecast to recover from the five-year period of slow growth ending 2010. The tire industry is part of the automotive part and supplies market.

 

 

 

 

Key Segments

 

  • More than 60% of global tire demand was for motor vehicles in 2010. Tires for motor vehicles are forecast to maintain the top market segment spot in 2015, reports Freedonia. Increased demand is a result of increasing global vehicle use prompted by rising levels of income, leading to higher rates of vehicle ownership. OEM and replacement motor vehicle tires demand, in particular for light vehicles, will continue to grow in tandem with car ownership.

 

  • The highest rate of growth within the tire industry through 2015 will be recorded in the industrial and other tire market segment. Demand for bicycle and motorcycle tires in emerging nations represents the largest percentage of sales in the industrial and other tire market segment. Asia-pacific will account for as much as 90% of growth through 2015 in terms of volume.

 

  • Tires for use in other sectors – such as for airplanes, mining equipment, agriculture, and construction – will also contribute to overall industry growth. Tires used in these sectors account for less of the global tire market than motorcycle and bicycle tires. Asia-Pacific is set to witness the fastest rate of growth through 2015, with China representing almost 65% of world tire output volume gains through to 2015. Tire market growth in this region will benefit from foreign investment in tire manufacturing. Industry players will continue to move to the Asia-Pacific region due to room to boost local market sales together with the low cost of labor throughout the region.

 

 

Regional Market Share

 

  • The global tire industry has been negatively impacted by the economic recession, with the EU market facing significant challenges through 2015. As the market is mature, there is unlikely to be much change over coming years. Industry players will seek to boost sales through new product distribution opportunities and by improving their product mix. MarketLine underlines the importance of new 2012 tire labeling legislation in determining how specific players will fare in the EU tire market. Eastern and Northern Europe represent the region with the best growth potential. Ukraine’s tire market witnessed 12% growth in 2011.

 

  • India’s tire market is expected to witness 12% yearly growth between 2011 and 2015, according to research from TechNavio. Market growth will be driven by rising demand for automobile products. Obstacles to growth in the Indian tire industry include rising raw material prices. Leading players currently operating in India’s tire market include CEAT, Apollo Tyres, MRF, and Tyre and Industries.

 

  • Saudi Arabia’s tire market continues to grow due to rising rates of automobile ownership, increasing GDP and a booming used-car industry, reports TechSci Research. Global tire industry gains exceeded the $150 billion market in 2011.

 

  • Asia-Pacific leads the global tire market, with more than 50% of worldwide sales in 2010, reports Freedonia. Moreover, the Asia-Pacific region is expected to record the highest tire demand growth through 2015. China’s tire market accounted for over 25% of global demand in 2010 and is expected to record the highest gains through 2015. Most of China’s tire demand is for non-motor vehicle tires, though the country represents the second-highest sales of motor vehicle tires after the US.

 

 

Industry Leaders

 

  • Michelin, Goodyear and Bridgestone are among the largest companies currently operating in the global tire market. Leading middle-sized players include Continental, Cooper Tire and Pirelli. Xerfi points to the significant growth in Taiwanese and Chinese tire outfits, accounting for 15% of the overall market in 2010, up from 5% in 2000.

 

 

Market Outlook

 

Automotive production will continue to drive growth in the original equipment manufacturer (OEM) market, reports Global Industry Analysts, while increasing average vehicle life will fuel demand in the replacement market.

 

The overall tire market will benefit from rising automotive manufacturing linked to economic recovery, especially in emerging markets such as Korea, India and China. Similarly, this recovery will benefit freight movement and commercial activity, boosting demand for aircraft tires and heavy truck tires.

 

 

Leading Industry Associations

 

 

 

 

You might be interested in these related markets



Automotive Electronic & Electric Equipment
Brakes
Automobile Engine

Get an overview of the key car tire data to carry out your analysis. Scan the latest data & statistics.
1-10 of about 700 reports

Global Tire Industry Weekly Update

  • November 2014
    9 pages
  • Tire  

  • United States  

    Japan  

    Europe  

View report >

Tire Markets in the US

  • January 2015
    14 pages
  • Tire  

  • United States  

    China  

    North America  

View report >

Tire Market Demand in Europe and Asia Forecast

  • October 2014
    9 pages
  • Tire  

  • Europe  

    Asia  

View report >

Tire Market Demand in Europe and Asia Forecast

  • October 2014
    9 pages
  • Tire  

    Truck Tire  

  • Europe  

    Asia  

View report >

Tire Markets in Japan Forecast

  • January 2013
    6 pages
  • Tire  

    Adhesive And Se  

  • Japan  

    Asia  

    China  

View report >

Tire Industry in Germany

  • September 2014
    10 pages
  • Cancer  

  • Germany  

    Europe  

View report >

Tire Markets in the US and the UK

  • January 2014
    17 pages
  • Tire  

  • United States  

    United Kingdom  

    North America  

View report >

Tire Industry in Russia

  • April 2014
    21 pages
  • Tire  

  • Russian Federat  

    Europe  

View report >

Tire market shares in India Forecast

  • January 2014
    5 pages
  • Tire  

  • India  

View report >

Tire Industry in China

  • November 2014
    21 pages
  • Tire  

  • China  

View report >


About 500 reports

Purchase Reports From Reputable Market Research Publishers
(From $ 55 - $ 21 113)

Rubber Tyre Markets in the World to 2019 - Market Size, Trends, and Forecasts

Rubber Tyre Markets in the World to 2019 - Market Size, Trends, and Forecasts

  • $ 22 464
  • Industry report
  • February 2015
  • by Global Research & Data Services

The expansion of the global rubber tyre industry is forecast to reach 4.5% p.a. in the coming years. Between 2008 and 2014 the market increased with an average annual growth of 9.3%. Currently, new pneumatic ...

Rubber Tyre Markets In Europe To 2019 - Market Size, Tr ...

February 2015 $ 11 824

Rubber Tyre Markets In Asia To 2019 - Market Size, Tren ...

February 2015 $ 8 765

Rubber Tyre Markets In Eastern Europe To 2019 - Market ...

February 2015 $ 7 435

Rubber Tyre Markets In Western Europe To 2019 - Market ...

February 2015 $ 6 903

2015 Market Research Report On Global Auto Tyre Industr ...

January 2015 $ 5 600

Rubber Tyre Markets In Americas To 2019 - Market Size, ...

February 2015 $ 5 174

Global Rubber Tyre Market To 2019 - Market Size, Top 10 ...

February 2015 $ 5 174

Tires World Report

March 2015 $ 4 609

Tire Dealers World Report

March 2015 $ 4 609


ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - quickly, in one place.