The future of the global automotive tire market looks promising with opportunities in the passenger car and light commercial vehicle. The global automotive tire market is expected to reach an estimated $257.5 billion by 2021 and it is forecast to grow at a CAGR of 4.6% from 2016 to 2021. The major drivers of growth for this market are increasing vehicle production, increasing demand for less rolling resistance tires led by stringent government regulations, increasing average age of vehicles in operation, and growing demand for green tires.
Emerging trends, which have a direct impact on the dynamics of the automotive tire market, include focus on fuel-efficient tires, evolution of green tires, development of TPMS systems, and development of non-pneumatic tires.
A total of 248 figures / charts and 86 tables are provided in this 284-page report to help in your business decisions. Sample figures with some insights are shown below. To learn the scope of, benefits, companies researched and other details of automotive tire market report, download the report brochure.
The study includes a forecast for the growth opportunities in the global automotive tire market by vehicle type, end-user, tire type, and region, as follows:
Automotive tire market by Vehicle Type ($ billion and million units from 2010 to 2021)
Small car Compact car Mid-size car Large car Light Commercial Vehicle
Pickup trucks SUV MPV Vans Heavy Commercial VehicleAutomotive tire market by vehicle End-User ($ billion and million units from 2010 to 2021)
OEMs AftermarketAutomotive tire market by Tire Type ($ billion and million units from 2010 to 2021)
Bias RadialAutomotive tire market by Region ($ billion and million units from 2010 to 2021)
North America Europe Asia Pacific Rest of the World Automotive tire companies profiled in this market report include Bridgestone Corporation, Michelin SCA, Goodyear Tire & Rubber Co, Continental AG, and Pirelli are the major automotive tire manufacturers in this market. Of these, several automotive tire suppliers are seeking mergers and acquisitions as strategic initiatives to drive growth.
Based on its comprehensive research, Lucintel forecasts that the OEMs and heavy commercial vehicle segments are expected to show above average growth during the forecast period.
Within the global automotive tire market, the aftermarket segment is expected to remain the largest market segment. Increasing average age of vehicle in operation in the developed nations and high economic growth in the emerging nations are expected to drive the automotive tire sales globally, which would spur growth for this segment over the forecast period.
Asia Pacific is expected to overtake the North American automotive tire market during the forecast period due to its high vehicle production, improvement in the economic conditions and increasing investment by the industry players within the APAC region.
Some of the features of “Growth Opportunities in the Global Automotive Tire Market 2016-2021: Trends, Forecast, and Opportunity Analysis” include:
Market size estimates: Growth opportunities in the global automotive tire market size in terms of value ($B) and volume (Million Units) shipmentTrend and forecast analysis: Global automotive tire market trend (2010-2015) and forecast (2016-2021) by region and segment.Segmentation analysis: Global automotive tire market size from 2010 to 2021 by vehicle type, vehicle end user type, and tire type.Regional analysis: Global automotive tire market breakdown by key regions of NorthAmerica, Europe, Asia Pacific, and the Rest of the World.Growth opportunities: Analysis of growth opportunities in different vehicle, vehicle end user, tire, and regions.Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global automotive tire market suppliers. Emerging applications: Emerging applications of the automotive tire in the global automotive tire market. Analysis of the competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the automotive tire market by vehicle type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle ), end-user (OEMs and Aftermarket), tire type (Bias and Radial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
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, challenges and business risks in automotive tire market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some of the changing demands of customers in the automotive tire market?
Q.8. What are the new developments in the market? Which automotive tire companies are leading these developments?
Q.9. Who are the major automotive tire suppliers ? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products and processes of automotive tire companies in this area and how big of a threat do they pose for loss of market share by materials / product substitution?
Q.11. What M&A activity by the major automotive tire suppliers in the last 5 years and what is its impact on the industry?