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World Tires Market

  • November 2015
  • -
  • Freedonia
  • -
  • 442 pages

World demand to rise 4.1% annually through 2019

Worldwide demand for tires is projected to increase 4.1 percent per year to 3.0 billion units in 2019. In value terms, sales of tires are forecast to grow 7.1 percent per annum to $258 billion. Increasing incomes in developing regions will spur growth in the number of vehicles in use, fueling demand for tires. Higher income levels and expanding economic activity will also contribute to increases in average annual vehicle mileage, boosting the frequency of tire replacement. However, growth will be constrained somewhat by rising tire quality, which will exert downward pressure on replacement rates.

Motor vehicles to remain dominant market for tires

The motor vehicle market will remain the largest outlet for tire demand, accounting for over half of the total in 2019. Demand for tires in this market will rise to 2.0 billion units, at an annual rate that will trail the global average. Western Europe and North America are particularly significant in the motor vehicle market, representing 40 percent of demand in this market compared to 10 percent in other markets. This is a reflection of the wealth of these regions, which support high levels of motor vehicle ownership and consequently sizable replacement tire demand. Demand for tires in motorcycle and other applications is projected to outpace the global average and reach 990 million units in 2019. Tire sales in this market are concentrated in fast growing developing regions, where motorcycles see heavy use as a low-cost substitute for motor vehicles. Sales of tires in other applications, such as aircraft, tractors, and industrial vehicles, will also grow at a healthy pace as manufacturing and usage of these vehicles increase.

Asia/Pacific region to offer best growth opportunities

The Asia/Pacific region holds the largest share of the world tire market and is forecast to post the fastest growth in demand through 2019. China, which accounted for one-fourth of global tire demand in 2014, will remain one of the most rapidly increasing national markets for tires. Several other countries in the Asia/Pacific region are also projected to achieve rapid advances in tire demand, particularly in India, Indonesia, Thailand, and Vietnam. However, the regional pace of growth will be constrained by a contraction in Japan, which holds the world’s fourth largest market for tires. The developing Africa/Mideast region and Central and South America will also register above average gains in tire sales, although both of these regions will remain below six percent of the global total in 2019.

Growth in North America, Western Europe to trail global average

Growth in demand for tires in North America and Western Europe is projected to trail the global average through 2019. Replacement tire markets in these regions are mature, as vehicle ownership rates are already very high. In addition, motor vehicle manufacturers have shifted their emphasis to siting facilities in developing regions, and many plants in Western Europe have been permanently closed, limiting opportunities for tires in OEM applications. Demand for tires in Eastern Europe will trail the global average but comfortably outperform Western Europe, fueled by increased manufacturing of vehicles for export.

Study coverage

This upcoming industry study, World Tires, presents historical data for 2004, 2009 and 2014, plus forecasts for 2019 and 2024 for supply and demand by market (e.g., light vehicle, medium and heavy vehicle, motorcycle, industrial) for six world regions and 25 major countries. The study also considers market environment factors, evaluates company market share and profiles 31 industry participants worldwide such as Goodyear, Michelin and Bridgestone.

Table Of Contents

World Tires Market
TABLE OF CONTENTS
INTRODUCTION xi
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
World Economic Overview 5
Recent Historical Trends 5
World Economic Outlook 6
World Population Overview 9
World Motor Vehicle Production 12
World Motor Vehicles in Use 15
Pricing Patterns 18
Technology 21
Retreaded, Regrooved, and Used Tires 23
Legal and Regulatory Overview 24
III. OVERVIEW 29
General 29
Regional Overview 30
Demand 30
Production 35
Production Capacity 37
International Trade 40
Demand by Market 42
Light Vehicle 44
Medium and Heavy Vehicle 47
Motorcycle 51
Industrial and Other 54
IV. NORTH AMERICA 56
General 56
Tire Supply and Demand 57
Tire Market Outlook 60
Tire Production Capacity 62
United States 63
Canada 75
Mexico 80
V. WESTERN EUROPE 88
General 88
Tire Supply and Demand 89
Tire Market Outlook 93
Tire Production Capacity 94
Germany 96
France 103
Italy 110
United Kingdom 117
Spain 123
Other Western Europe 128
VI. ASIA/PACIFIC 137
General 137
Tire Supply and Demand 138
Tire Market Outlook 142
Tire Production Capacity 144
China 146
India 159
Japan 168
Indonesia 175
South Korea 184
Thailand 191
Vietnam 200
Malaysia 207
Australia 214
Taiwan 218
Other Asia/Pacific 226
VII. OTHER REGIONS 234
Central and South America 234
General 234
Tire Supply and Demand 235
Tire Market Outlook 238
Tire Production Capacity 239
Brazil 240
Argentina 247
Other Central and South America 253
Eastern Europe 261
General 261
Tire Supply and Demand 263
Tire Market Outlook 265
Tire Production Capacity 266
Russia 268
Poland 276
Other Eastern Europe 281
Africa/Mideast 290
General 290
Tire Supply and Demand 292
Tire Market Outlook 294
Tire Production Capacity 296
Turkey 297
Iran 304
South Africa 311
Other Africa/Mideast 318
VIII. INDUSTRY STRUCTURE 327
General 327
Market Share and Industry Concentration 328
Acquisitions, Divestitures, and Industry Restructuring 334
Cooperative Agreements 337
Marketing and Distribution 342
Competitive Strategies 343
Research and Development 345
Company Profiles 346
Aeolus Tyre Company Limited 347
Apollo Tyres Limited 348
Belshina OJSC 350
Bridgestone Corporation 351
CGS Holding as 357
Cheng Shin Rubber Industries Company Limited 360
Continental AG 362
Cooper Tire and Rubber Company 367
Cordiant JSC 371
Double Coin Holdings Limited 373
Giti Tire Private Limited 374
Goodyear Tire and Rubber Company 377
GTY Tire, see Continental and Yokohama Rubber
Hangzhou Zhongce Rubber Company Limited 383
Hankook Tire Company Limited 384
JK Tyre and Industries Limited 387
Kumho Tire Company Incorporated 388
Michelin Group 391
MITAS as, see CGS Holding as
MRF Limited 398
NEXEN Corporation 400
NEXEN Tire Corporation 401
Nokian Tyres plc 402
Pirelli and C. SpA 405
PT Evoluzione Tyres, see Pirelli and C.
PT Gajah Tunggal Tbk, see Giti Tire Private
Qingdao Doublestar Tire Industrial Company Limited 410
Shandong Linglong Tire Company Limited 411
Sumitomo Rubber Industries Limited 412
TATNEFT JSC 417
Titan International Incorporated 418
Toyo Tire and Rubber Company Limited 420
Triangle Group Company Limited 423
Vianor Holding, see Nokian Tyres
Voltyre-Prom JSC, see Titan International
Xingyuan Group 424
Yokohama Rubber Company Limited 425
Other Companies Mentioned in Study 430

LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 World Gross Domestic Product by Region 9
2 World Population by Region 11
3 World Motor Vehicle Production 14
4 World Motor Vehicles in Use 17
5 World Tire Pricing 20
SECTION III -- OVERVIEW
1 World Tire Demand by Region 32
2 World Tire Production by Region 36
3 World Tire Production Capacity by Region, Year-End 2014 39
4 World Tire Net Exports by Region 41
5 World Tire Demand by Market 43
6 World Light Vehicle Tire Demand by Application and Region 45
7 World Medium and Heavy Vehicle Tire Demand by Application
and Region 49
8 World Motorcycle Tire Demand by Application and Region 53
9 World Industrial and Other Tire Demand by Region 55
SECTION IV -- NORTH AMERICA
1 North America: Tire Supply and Demand 58
2 North America: Tire Demand by Market 61
3 North America: Tire Production Capacity by Country,
Year-End 2014 63
4 United States: Tire Supply and Demand 67
5 United States: Tire Demand by Market 70
6 United States: Tire Production Capacity by Company,
Year-End 2014 74
7 Canada: Tire Supply and Demand 77
8 Canada: Tire Demand by Market 79
9 Canada: Tire Production Capacity by Company,
Year-End 2014 80
10 Mexico: Tire Supply and Demand 83
11 Mexico: Tire Demand by Market 85
12 Mexico: Tire Production Capacity by Company,
Year-End 2014 87
SECTION V -- WESTERN EUROPE
1 Western Europe: Tire Supply and Demand 91
2 Western Europe: Tire Demand by Market 94
3 Western Europe: Tire Production Capacity by Country,
Year-End 2014 96
4 Germany: Tire Supply and Demand 99
5 Germany: Tire Demand by Market 101
6 Germany: Tire Production Capacity by Company,
Year-End 2014 103
7 France: Tire Supply and Demand 106
8 France: Tire Demand by Market 108
9 France: Tire Production Capacity by Company,
Year-End 2014 110
10 Italy: Tire Supply and Demand 113
11 Italy: Tire Demand by Market 115
12 Italy: Tire Production Capacity by Company,
Year-End 2014 116
13 United Kingdom: Tire Supply and Demand 119
14 United Kingdom: Tire Demand by Market 121
15 United Kingdom: Tire Production Capacity by Company,
Year-End 2014 122
16 Spain: Tire Supply and Demand 125
17 Spain: Tire Demand by Market 127
18 Spain: Tire Production Capacity by Company,
Year-End 2014 128
19 Other Western Europe: Tire Supply and Demand 132
20 Other Western Europe: Tire Demand by Market 134
21 Other Western Europe: Tire Production Capacity
by Country and Company, Year-End 2014 136
SECTION VI -- ASIA/PACIFIC
1 Asia/Pacific: Tire Supply and Demand 140
2 Asia/Pacific: Tire Demand by Market 144
3 Asia/Pacific: Tire Production Capacity by Country,
Year-End 2014 146
4 China: Tire Supply and Demand 151
5 China: Tire Demand by Market 154
6 China: Tire Production Capacity by Company,
Year-End 2014 157
7 India: Tire Supply and Demand 162
8 India: Tire Demand by Market 164
9 India: Tire Production Capacity by Company,
Year-End 2014 167
10 Japan: Tire Supply and Demand 171
11 Japan: Tire Demand by Market 173
12 Japan: Tire Production Capacity by Company,
Year-End 2014 175
13 Indonesia: Tire Supply and Demand 178
14 Indonesia: Tire Demand by Market 180
15 Indonesia: Tire Production Capacity by Company,
Year-End 2014 183
16 South Korea: Tire Supply and Demand 187
17 South Korea: Tire Demand by Market 189
18 South Korea: Tire Production Capacity by Company,
Year-End 2014 191
19 Thailand: Tire Supply and Demand 194
20 Thailand: Tire Demand by Market 196
21 Thailand: Tire Production Capacity by Company,
Year-End 2014 198
22 Vietnam: Tire Supply and Demand 203
23 Vietnam: Tire Demand by Market 205
24 Vietnam: Tire Production Capacity by Company,
Year-End 2014 207
25 Malaysia: Tire Supply and Demand 210
26 Malaysia: Tire Demand by Market 212
27 Malaysia: Tire Production Capacity by Company,
Year-End 2014 213
28 Australia: Tire Supply and Demand 216
29 Australia: Tire Demand by Market 218
30 Taiwan: Tire Supply and Demand 221
31 Taiwan: Tire Demand by Market 223
32 Taiwan: Tire Production Capacity by Company,
Year-End 2014 225
33 Other Asia/Pacific: Tire Supply and Demand 228
34 Other Asia/Pacific: Tire Demand by Market 230
35 Other Asia/Pacific: Tire Production Capacity by Country
and Company, Year-End 2014 232
SECTION VII -- OTHER REGIONS
1 Central and South America: Tire Supply and Demand 237
2 Central and South America: Tire Demand by Market 239
3 Central and South America: Tire Production Capacity
by Country, Year-End 2014 240
4 Brazil: Tire Supply and Demand 243
5 Brazil: Tire Demand by Market 245
6 Brazil: Tire Production Capacity by Company,
Year-End 2014 247
7 Argentina: Tire Supply and Demand 250
8 Argentina: Tire Demand by Market 252
9 Argentina: Tire Production Capacity by Company,
Year-End 2014 253
10 Other Central and South America: Tire Supply and Demand 256
11 Other Central and South America: Tire Demand by Market 258
12 Other Central and South America: Tire Production Capacity
by Country and Company, Year-End 2014 260
13 Eastern Europe: Tire Supply and Demand 264
14 Eastern Europe: Tire Demand by Market 266
15 Eastern Europe: Tire Production Capacity by Country,
Year-End 2014 268
16 Russia: Tire Supply and Demand 271
17 Russia: Tire Demand by Market 273
18 Russia: Tire Production Capacity by Company,
Year-End 2014 275
19 Poland: Tire Supply and Demand 278
20 Poland: Tire Demand by Market 280
21 Poland: Tire Production Capacity by Company,
Year-End 2014 281
22 Other Eastern Europe: Tire Supply and Demand 284
23 Other Eastern Europe: Tire Demand by Market 286
24 Other Eastern Europe: Tire Production Capacity by Country
and Company, Year-End 2014 288
25 Africa/Mideast: Tire Supply and Demand 293
26 Africa/Mideast: Tire Demand by Market 295
27 Africa/Mideast: Tire Production Capacity by Country,
Year-End 2014 297
28 Turkey: Tire Supply and Demand 300
29 Turkey: Tire Demand by Market 302
30 Turkey: Tire Production Capacity by Company,
Year-End 2014 304
31 Iran: Tire Supply and Demand 307
32 Iran: Tire Demand by Market 309
33 Iran: Tire Production Capacity by Company,
Year-End 2014 311
34 South Africa: Tire Supply and Demand 314
35 South Africa: Tire Demand by Market 316
36 South Africa: Tire Production Capacity by Company,
Year-End 2014 317
37 Other Africa/Mideast: Tire Supply and Demand 321
38 Other Africa/Mideast: Tire Demand by Market 323
39 Other Africa/Mideast: Tire Production Capacity
by Company, Year-End 2014 325
SECTION VIII -- INDUSTRY STRUCTURE
1 World Tire Sales by Company, 2014 330
2 Selected Acquisitions and Divestitures 336
3 Selected Cooperative Agreements 339

LIST OF CHARTS
SECTION II -- MARKET ENVIRONMENT
1 World Motor Vehicle Production by Region 15
2 World Motor Vehicles in Use by Region 18
3 World Tire Pricing, 2004-2024 20
SECTION III -- OVERVIEW
1 World Tire Demand by Region, 2014 33
2 Increase in Annual Tire Demand Between 2014 and 2019
by Region 33
3 World Tire Demand: Projected 2014-2019 Annual Rate
of Growth 34
4 World Tire Production by Region, 2014 37
5 World Tire Production Capacity by Country, Year-End 2014 40
6 World Tire Demand by Market, 2014 43
SECTION IV -- NORTH AMERICA
1 North America: Tire Supply and Demand by Country, 2014 59
SECTION V -- WESTERN EUROPE
1 Western Europe: Tire Supply and Demand by Country, 2014 92
SECTION VI -- ASIA/PACIFIC
1 Asia/Pacific: Tire Supply and Demand by Country, 2014 141
SECTION VIII -- INDUSTRY STRUCTURE
1 World Tire Market Share, 2014 331

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