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Automotive Tire Market by Vehicle Type (passenger car, light commercial vehicle, heavy commercial vehicle, and two-wheeler), by Type (radial tire, and bias tire): Global Opportunity Analysis and Industry Forecast, 2014-2022
Update Available On-Demand

AU_17924
Pages: 77
Jan 2017 | 10434 Views
 
Author(s) : Komal Sharma
Tables: 55
Charts: 10
 

Automotive Tire Industry Overview:

The global automotive tire market size is projected to reach $306 billion by 2022, growing at a CAGR of 7.6% from 2016 to 2022. Automotive tire covers the wheel’s rim, externally to protect it and withstand the tractive force between the road surface and vehicle. Since, it is manufactured from rubber, it provides flexible cushion, thereby, reducing the impact of vibrations and absorbing shock. The demand for tire has exponentially increased due to rise in demand for vehicles across all segments. Thus, the tire demand is ultimately governed by automobile production, supplementing the growth of automotive tire industry. 

Moreover, intense competition between tire manufacturers to produce highly sustainable, durable, and affordable tires are anticipated to propel the growth of automotive tire market. 
In addition, the adoption of advanced technology in the manufacturing process of tires in order to offer high product differentiation to the consumer leads to a high level of performance and durability, which is also likely to drive the growth of the market. Further, an increase in the lifespan of vehicles is likely to project the aftermarket growth of the global automotive tire market.

Automotive Tire Market Outlook

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However, growth in retreading tires market in which tread are replaced by worn out tires may inhibit the automotive tire market growth as the material cost required for the process of retreading tires is much less than manufacturing new tires. Therefore, surge in industries reclining on the retreading process of tires could prove to be a threat to this market. In addition, the fluctuation in prices of raw material such as natural rubber and reinforcing materials could hinder the growth of automotive tire industry. The improving economy of emerging countries such as China, India, Brazil, and South Africa among others may create an opportunity to expand the global automotive tire market share.

Automotive Tire Market Regional Analysis

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Asia-Pacific leads the automotive tire market

Asia-Pacific holds nearly 42% of the global market share and is expected to grow at a notable CAGR. Owing to improving economy of most of the emerging countries in this region, the manufacturing sector of automotive tires and components is enjoying growth phase. Furthermore, the global market forecasted from year 2014-2022 by considering all the driving factors that influence equally to the Automotive Tire Market.

Automotive Tire Market by Type

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Top Impacting Factors

The global automotive tire market is segmented on the basis of vehicle type, type, and geography. On the basis of application, the market is further segmented into passenger car tire, light commercial vehicle (LCV) tire, high commercial vehicle (HCV) tire, and two wheelers tire. Based on type it is bifurcated into radial tire and bias tire. Based on geography, the automotive tire market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America is further divided into the U.S., Canada, and Mexico, whereas Europe covers UK, Russia, Germany, France, Italy, and the Rest of Europe. Asia-Pacific is segmented into India, China, Japan, Taiwan, South Korea, and Rest of Asia-Pacific, while LAMEA is categorized into Latin America, the Middle East, and Africa.

 

Automotive Tire Market by Application

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Increase in automotive sales across different segments

Recently, the automobile industry has been growing at a rapid pace owing to speedy industrialization, which has led to an increase in the sale of commercial vehicles such as trucks, tractors, and trailers among others. In addition, rise in the disposable income of people and standard of living is improving. This factor is responsible for an increase in the sale of luxurious passenger cars and premium segment bikes. Thus, increase in the demand for vehicles across all segments among consumers leads to a rise in the production of automobiles. Moreover, the global consolidation of the automotive sector that results in mergers and acquisitions among international and domestic vehicles manufacturers boosts the growth of the automotive sector influencing the automotive tire market.

Rise in competition among the tire manufacturers

The global tire industry consists of well-established players that are engaged in tire manufacture along with domestic players in several regions. Owing to less product differentiation in the tire industry, manufacturers find it difficult to grab a major customer base and maintain the brand loyalty. Almost, every segment of the tire market is manufactured by all tire manufacturers in this industry. The latest automotive tire market trends will boost the market growth in near future. Pricing is the only factor that remains with the key players to deal with to occupy a large market share and generate revenue. This scenario of the tire industry results in a rise in competition among key players of the industry.

Introduction of advanced technology in the manufacturing process

Owing to a rise in competition among key players of the tire industry, technology is the crucial factor, which plays a vital role in increasing the productivity. Thus, established players of the automotive tire market aim to introduce more automation in the manufacturing process in order to increase the production quantity, which will in turn increase the net sales volume. The adoption of advanced technology is an effective strategy to sustain in the competition of the tire industry, which is anticipated to rise in future.

Increase in the operating life of automobiles

Continuous growth of the automobile sector is a major challenge as there would be a need to raise the operating life of automobiles for key players of the automobile industry. In addition, the automobile sector is engaged in highly engineered operations to manufacture vehicles, which has enhanced the lifespan of vehicles. Also, improvement of manufacturing processes and continuous advancements of technology is a major responsible factor to increase the life of vehicles. Moreover, in order to maintain customer loyalty and increase their consumer base, vehicle manufacturers aim to manufacture vehicles that have a large operating life.

Growing market of retreading tires

Retreading is the process that replaces the tread on worn tires. It is also known as recap or remold and is recognized as the re-manufacturing process of tires. This re-manufacturing process of the tire preserves high amounts of material when compared to manufacturing a new tire. Therefore, the material costs required for this process is less. Due to this factor, the retreading tire market is increasing at a rapid pace, thereby impacting the world automotive tire market.

Fluctuating costs of raw material

 Raw materials to manufacture tires include petroleum reinforcing materials such as nylon and polyester, among others. Also, rubber (natural and synthetic) is the basic element required to manufacture tires, which witnessed high fluctuations in costs. Crude oil prices always vary in the international market, which causes frequent changes in petroleum derived products. This variation in oil prices majorly influences the world automotive tire market.

Top Winning Strategies

The automotive tire market is principally driven by business expansion strategy; however, joint venture, merger & acquisition, product launch, and partnership are some other major strategies adopted by key players to gain competitive advantage.

Key Benefits for Automotive Tire Market:

  • This study presents analytical depiction of the automotive tire market analysis along with the current trends and future estimations to depict the imminent investment pockets.
  • The report offers a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities.
  • Competitive intelligence highlights the business practices followed by leading players across various regions.

Automotive Tire Market Key Segments

By Type

  • Radial Tire
  • Bias Tire

By Vehicle Type

  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Two-Wheeler

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • Italy
    • UK
    • Rest of Europe
  • Asia-Pacific
    • China
    • Australia
    • Japan
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Prominent Market Players In Value Chain

  • Bridgestone Corporation
  • Continental AG
  • Pirelli & C. S.p.A.
  • Michelin
  • The Goodyear Tyre & Rubber Co.
  • Sumitomo Rubber Industries Ltd.
  • Madras Rubber Factory Limited 
  • The Yokohama Rubber Co. Ltd.
  • JK Tyre & Industries Ltd.
  • CEAT Ltd.
 

CHAPTER 1 Introduction

1.1 Report Description
1.2 Key Benefits for Stakeholders
1.3 Key Market Segments
1.4 Research Methodology

1.4.1 Secondary Research
1.4.2 Primary Research
1.4.3 Analyst Tools and Models

CHAPTER 2 Executive Summary

2.1 Market Snapshot
2.2 CXO Perspective

CHAPTER 3 Market Overview

3.1 Market Definition and Scope
3.2 Key Findings

3.2.1 Top Impacting Factor
3.2.2 Top Winning Strategies
3.2.3 Top Investment Pockets

3.3 Porters Five Forces Analysis
3.4 Market Share Analysis, 2015
3.5 Drivers

3.5.1 Increase Automotive Sales Across Different Segments
3.5.2 Rise in Competition Among Global Tire Manufacturers
3.5.3 Introduction of Advanced Technology in Manufacturing Process
3.5.4 Increase in Operating Life of Automobiles

3.6 Restraints

3.6.1 Growing Market of Retreading Tires
3.6.2 Fluctuating Cost of Raw Material

3.7 Opportunities

3.7.1 Improving Economy Resulting Into Favorable Conditions for Manufacturing Sector
3.7.2 Anticipated Rise in Automobile Sector

CHAPTER 4 World Automotive Tire Market, By Vehicle Type

4.1 Introduction
4.2 Passenger Car Tire Market

4.2.1 Key Market Trends, Growth Factors and Opportunities
4.2.2 Market Size and Forecast
4.2.3 North America Passenger Car Tire Market, ($Million), Growth (%) 2014-2022
4.2.4 Europe Passenger Car Tire Market, ($Million), Growth (%) 2014-2022
4.2.5 Asia-Pacific Passenger Car Tire Market, ($Million), Growth (%) 2014-2022
4.2.6 LAMEA Passenger Car Tire Market, ($Million), Growth (%) 2014-2022

4.3 Light Commercial Vehicle (Lcv) Tire Market

4.3.1 Key Market Trends, Growth Factors and Opportunities
4.3.2 Market Size and Forecast
4.3.3 North America Lcv Tire Market, ($Million), Growth (%) 2014-2022
4.3.4 Europe Lcv Tire Market, ($Million), Growth (%) 2014-2022
4.3.5 Asia-Pacific Lcv Tire Market, ($Million), Growth (%) 2014-2022
4.3.6 LAMEA Lcv Tire Market, ($Million), Growth (%) 2014-2022

4.4 Heavy Commercial Vehicle (Hcv) Tire Market

4.4.1 Key Market Trends, Growth Factors and Opportunities
4.4.2 Market Size and Forecast
4.4.3 North America Hcv Tire Market, ($Million), Growth (%) 2014-2022
4.4.4 Europe Hcv Tire Market, ($Million), Growth (%) 2014-2022
4.4.5 Asia-Pacific Hcv Tire Market, ($Million), Growth (%) 2014-2022
4.4.6 LAMEA Hcv Tire Market, ($Million), Growth (%) 2014-2022

4.5 Two Wheelers Tire Market

4.5.1 Key Market Trends, Growth Factors and Opportunities
4.5.2 Market Size and Forecast
4.5.3 North America Two Wheeler Tire Market, ($Million), Growth (%) 2014-2022
4.5.4 Europe Two Wheeler Tire Market, ($Million), Growth (%) 2014-2022
4.5.5 Asia-Pacific Two Wheeler Tire Market, ($Million), Growth (%) 2014-2022
4.5.6 LAMEA Two Wheeler Tire Market, ($Million), Growth (%) 2014-2022

CHAPTER 5 World Automotive Tire Market, By Type

5.1 Introduction
5.2 Radial Tire Market

5.2.1 Key Market Trends, Growth Factors and Opportunities
5.2.2 Market Size and Forecast
5.2.3 Key Player Positioning
5.2.4 North America Radial Tire Market, ($Million), Growth (%) 2014-2022
5.2.5 Europe Radial Tire Market, ($Million), Growth (%) 2014-2022
5.2.6 Asia-Pacific Radial Tire Market, ($Million), Growth (%) 2014-2022
5.2.7 LAMEA Radial Tire Market, ($Million), Growth (%) 2014-2022

5.3 Bias Tire Market

5.3.1 Key Market Trends, Growth Factors and Opportunities
5.3.2 Market Size and Forecast
5.3.3 Key Player Positioning
5.3.4 North America Bias Tire Market, ($Million), Growth (%) 2014-2022
5.3.5 Europe Bias Tire Market, ($Million), Growth (%) 2014-2022
5.3.6 Asia-Pacific Bias Tire Market, ($Million), Growth (%) 2014-2022
5.3.7 LAMEA Bias Tire Market, ($Million), Growth (%) 2014-2022

CHAPTER 6 World Automotive Tire Market, By Geography

6.1 Introduction
6.2 North America Automotive Tire Market

6.2.1 Key Market Trends, Growth Factors and Opportunities
6.2.2 Market Size and Forecast

6.3 Europe Automotive Tire Market

6.3.1 Key Market Trends, Growth Factors and Opportunities
6.3.2 Market Size and Forecast

6.4 Asia-Pacific Automotive Tire Market

6.4.1 Key Market Trends, Growth Factors and Opportunities
6.4.2 Market Size and Forecast

6.5 LAMEA

6.5.1 Key Market Trends, Growth Factors and Opportunities
6.5.2 Market Size and Forecast

CHAPTER 7 RELATED INDUSTRY INSIGHTS

7.1. Global Air Quality Monitoring Market

7.1.1. Executive Summary

7.2. Global Automotive Interiors Market

7.2.1. Executive Summary

7.3. Global Automotive Lighting Market

7.3.1. Executive Summary

7.4. Global Air Freshener Market

7.4.1. Executive Summary

7.5. Global Air Compressor Market

7.5.1. Executive Summary

CHAPTER 8 Related Industry Insights

8.1. Global Air Quality Monitoring Market

8.1.1. Executive Summary

8.2. Global Automotive Interiors Market

8.2.1. Executive Summary

8.3. Global Automotive Lighting Market

8.3.1. Executive Summary

8.4. Global Air Freshener Market

8.4.1. Executive Summary

8.5. Global Air Compressor Market

8.5.1. Executive Summary

CHAPTER 9 Company Profiles

9.1. Bridgestone Corporation

9.1.1. Company Overview
9.1.2. Operating Business Segments
9.1.3. Key Strategic Moves and Developments

9.2. Continental Ag

9.2.1. Company Overview
9.2.2. Operating Business Segments
9.2.3. Key Strategic Moves and Developments

9.3. Pirelli & C. S.P.A.

9.3.1. Company Overview
9.3.2. Operating Business Segments
9.3.3. Key Strategic Moves and Developments

9.4. Michelin

9.4.1. Company Overview
9.4.2. Operating Business Segments
9.4.3. Key Strategic Moves and Developments

9.5. The Goodyear Tire & Rubber Co. Ltd.

9.5.1. Company Overview
9.5.2. Operating Business Segments
9.5.3. Key Strategic Moves and Developments

9.6. Sumitomo Rubber Industries Ltd.

9.6.1. Company Overview
9.6.2. Operating Business Segments
9.6.3. Key Strategic Moves and Developments

9.7. MRF Tyres

9.7.1. Company Overview
9.7.2. Operating Business Segments
9.7.3. Key Strategic Moves and Developments

9.8. The Yokohama Rubber Co. Ltd.

9.8.1. Company Overview
9.8.2. Operating Business Segments
9.8.3. Key Strategic Moves and Developments

9.9. JK Tyre & Industries Ltd.

9.9.1. Company Overview
9.9.2. Operating Business Segments
9.9.3. Key Strategic Moves and Developments

9.10. Ceat Ltd.

9.10.1. Company Overview
9.10.2. Operating Business Segments
9.10.3. Key Strategic Moves and Developments

LIST of TABLES

TABLE 1 WORLD PASSENGER CAR TIREMARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 2 NORTH AMERICAPASSENGER CAR TIREMARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 3 EUROPEPASSENGER CAR TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 4 ASIA-PACIFIC PASSENGER CAR TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 5 LAMEA PASSENGER CAR TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 6 WORLD LCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 7 NORTH AMERICA LCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 8 EUROPE LCV TIREMARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 9 ASIA-PACIFIC LCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 10 LAMEA LCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 11 WORLD HCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 12 NORTH AMERICA HCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 13 EUROPE HCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 14 ASIA-PACIFIC HCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 15 LAMEA HCV TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 16 WORLD TWO WHEELER TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 17 NORTH AMERICA TWO WHEELER TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 18 EUROPE TWO WHEELER TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 19 ASIA-PACIFIC TWO WHEELER TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 20 LAMEA TWO WHEELER TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 21 WORLD RADIAL TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 22 NORTH AMERICA RADIAL TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 23 EUROPE RADIAL TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 24 ASIA-PACIFICRADIAL TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 25 LAMEARADIAL TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 26 WORLD BIAS TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 27 NORTH AMERICA BIAS TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 28 EUROPE BIAS TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 29 ASIA-PACIFIC BIAS TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 30 LAMEA BIAS TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 31 NORTH AMERICAAUTOMOTIVE TIREMARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 32 EUROPE AUTOMOTIVE TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 33 ASIA-PACIFIC AUTOMOTIVE TIREMARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 34 LAMEA AUTOMOTIVE TIRE MARKET, ($MILLION), GROWTH (%) 2014-2022
TABLE 36. BRIDGESTONE CORPORATION: COMPANY SNAPSHOT
TABLE 37. BRIDGESTONE CORPORATION: OPERATING SEGMENTS
TABLE 38. CONTINENTAL AG: COMPANY SNAPSHOT
TABLE 39. CONTINENTAL AG: OPERATING SEGMENTS
TABLE 40. PIRELLI & C. S.p.A.: COMPANY SNAPSHOT
TABLE 41. PIRELLI & C. S.p.A.: OPERATING SEGMENTS
TABLE 42. MICHELIN: COMPANY SNAPSHOT
TABLE 43. MICHELIN: OPERATING SEGMENTS
TABLE 44. THE GOODYEAR TYRE & RUBBER CO. LTD.: COMPANY SNAPSHOT
TABLE 45. THE GOODYEAR TYRE & RUBBER CO. LTD.: OPERATING SEGMENTS
TABLE 46. SUMITOMO RUBBER INDUSTRIES LTD.: COMPANY SNAPSHOT
TABLE 47. SUMITOMO RUBBER INDUSTRIES LTD.: OPERATING SEGMENTS
TABLE 48. MRF TYRES: COMPANY SNAPSHOT
TABLE 49. MRF TYRES: OPERATING SEGMENTS
TABLE 50. THE YOKOHAMA RUBBER CO. LTD.: COMPANY SNAPSHOT
TABLE 51. THE YOKOHAMA RUBBER CO. LTD.: OPERATING SEGMENTS
TABLE 52. JK TYRE & INDUSTRIES LTD.: COMPANY SNAPSHOT
TABLE 53. JK TYRE & INDUSTRIES LTD.: OPERATING SEGMENTS
TABLE 54. CEAT LTD.: COMPANY SNAPSHOT
TABLE 55. CEAT LTD.: OPERATING SEGMENTS

LIST of FIGURES

FIG. 1 TOP IMPACTING FACTORS
FIG. 2 TOP WINNING STRATEGIES in THE TIRE MARKET (20142016)
FIG. 3 TOP WINNING STRATEGIES (%) (20142016)
FIG. 4 TOP INVESTMENT POCKETS
FIG. 5 PORTERS FIVE FORCES ANALYSIS of AUTOMOTIVE TIRE MARKET
FIG. 6 GROWTH in THE SALES of CARS WORLDWIDE
FIG. 7 GROWTH in THE SALES of COMMERCIAL VEHICLES WORLDWIDE
FIG. 8 WORLD AUTOMOTIVE TIRE MARKET BY APPLICATION, 2015(%)
FIG. 9 WORLD AUTOMOTIVE TIRE MARKET BY TYPE, 2015(%)
FIG. 10 WORLD AUTOMOTIVE TIRE MARKET BY GEOGRAPHY, 2015(%)

 
 

The global automotive tire market is witnessing a steady growth due to increase in automotive sales across different segments and rise in competition among global tire manufacturers. Introduction of advanced technology in manufacturing process is another key factor that drives the automotive tire market.

By vehicle, the two wheeler segment of automotive sector has witnessed a rise in demand, especially from youth and rural market supplementing the growth of two wheeler tire market. On the basis of product type segmentation, the bias tire is a steadily growing segment of tire market and is projected to grow at a notable CAGR by 2022.

The Asian market is most promising market as most of the emerging countries are the part of this region such as China, India, and Indonesia, and others. This was the largest market occupying market share of around 42% in 2015 and is expected to grow at a CAGR of 7.4%. The y-o-y growth of this segment is projected to show increasing trend during the forecast period and net sales volume is also estimated to increase in the coming years. Owing to the improving economy of most of the emerging countries in this region, the manufacturing sector is at growing at a steady phase. Thus, tire manufacturers are keen to gain competitive advantage and expand their business. Increase in automobile sales in this region is the key growth factor for the automotive tire market.

 

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