Tire Market – Overview
This report analyzes and forecasts the tire market for automotive at the global and regional level. The market has been forecasted, based on revenue (US$ Mn) and volume (Million Units) from 2018 to 2026. The study involves the effect of all the factors that can contract or expand the tire market, globally as well as regionally. The report also highlights opportunities in the tire market for automotive at the global and regional level.
The report contains value chain analysis, which provides a comprehensive view of the global tire market for automotive. The Porter’s Five Forces analysis for the tire market for automotive has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein end-users are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global tire market for automotive by segmenting the market in terms of rim size, aspect ratio, material, season, tube, ply, sales channel, vehicle, and region. These segments have been analyzed, based on present and future trends. Regional segmentation comprises current scenario along with forecast of the tire market for automotive. The forecast provided is based on the compilation of current trends as well as expected scenario in the future, due to change in technological, geographical, political, and economic factors such as rising preference toward sports utility vehicles, globally, is expected to boost the demand for tires between 18” to 21” rim sizes during the forecast period.
The study includes profiles of major companies operating in the global tire market for automotive. The global tire market for automotive is dominated by a few major tire manufacturers which include Bridgestone Corporation, Continental AG, Michelin, The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A., Apollo Tyres Ltd., CEAT Ltd., China National Tire & Rubber Co., Ltd., Cooper Tire & Rubber Co., Ltd., Giti Tire, Hangzhou Zhongce Rubber Co., Ltd., Hankook Tire, JK Tyre & Industries Ltd., Kumho Tire Co., Inc., Nexen Tire Corporation, Nokian Tyres plc, Qingdao Fullrun Tyre Corp., Ltd., Sumitomo Rubber Industries, Ltd., Toyo Tire & Rubber Co., Ltd., and Yokohoma Tire Corporation. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments. The tire market for automotive is primarily driven by rising production of vehicles and high dependency of society on vehicles, which is booting the aftermarket of the tires due to rapid wear and tear of tires.
The report provides the estimated market size of tire market for automotive 2017 and forecast for the next nine years. The global market size of tire market for automotive has been provided in terms of revenue (US$) and volume (Million Units). Market figures have been estimated, based on rim size, application, vehicle type, and regional segments of the tire market for automotive. Market size and forecast for each major segment have been provided in terms of global and regional/country markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
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Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, and webcasts specific to companies operating in the market, National government documents, statistical databases, and market reports, American Automobile Association, European Automobile Manufacturers Association, Automotive Research Association of India, Organisation Internationale des Constructeurs d’Automobile (OICA), Factiva, etc.
Primary research involves e-mail interactions, and telephonic interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.