A tire should be critical to support the weight of the vehicle, transmit vehicle propulsion & braking, reduce the impact of weird road conditions and at the same time help to maintain the vehicles direction. The tire manufacturers need to modify the existing technology and introducing new manufacturing concepts to the marketplace to meet the increasing demands especially from the OEMs. The market for automotive tire is expected to grow at a CAGR of 7.47% by the end of 2020. The market from the Asia-Pacific is expected to drive the growth during the forecast period. The market from Asia-Pacific is expected to contribute about 27% of the global market by 2020.
Emerging trends in the market such as the increased use of bio-oils in the manufacturing process of tires would help to boost the growth in the light of demand for ecological tire manufacturing process. Orange oils, extracted from orange peels, are used in the process to help reduce the amount of petroleum used in tires. In addition, the tire market has also witnessed an increase in R&D investments. The use of nanotechnology is a recent invention used in the manufacture of tires. In addition, the demand of retreading of tires is increasing by a considerable rate. The retreading of tires helps to reduce the operating cost significantly in the aftermarket, as it helps to prevent the tires from a complete replacement, and thereby is a cost effective option. The casings can help to provide multiple life cycles, saving a significant amount especially for the fleet operators in the commercial vehicle market.
Suppliers to the tire industry are mainly classified into three sub-groups: rubber suppliers, filler suppliers (for tire reinforcement), and chemical suppliers. Suppliers play an important role in the supply chain of the tire manufacturer as raw material costs account for about 60% of the total costs incurred in manufacturing a tire. Raw rubber suppliers can be further segmented into two types: natural and synthetic rubber suppliers. Natural rubber suppliers are primarily concentrated in Asia because of the favorable climatic conditions for rubber tree plantations. Synthetic rubber is also used in tire manufacturing process, and it is purely an industrial product where price is determined by the price of oil. A dip in crude oil prices has benefited synthetic rubber manufacturers to a significant extent.
OEMs, have an approved list of tire manufacturers from whom they source tires and other components. The approval process carried out by OEMs is comprehensive and has defined and prescribed standards. Tire manufacturers are required to cater all these conditions to qualify as an approved vendor for the OEMs. The vendor approval process tests tire manufacturers on a variety of parameters, including quality of products, packaging standards, and on-time delivery. Tire manufacturers face several risks including operational, financial, and legal and political risks. Most tire manufacturers usually get their raw material supplies from countries such as China and India. In addition, logistics issues can disrupt raw material supplies to tire manufacturers. Almost all tire manufacturers practice the lean management principle in their manufacturing process, where the companies tend to emphasize increased focus on high-quality production by cutting down on waste at each possible step.
The report classifies and defines the automotive tire market size, in terms of value. It provides a comprehensive analysis and insights (both, qualitative and quantitative) into automotive tires segments. The market is segmented on the basis of tire type-summer, winter, all-season tires; end consumers- OEMs and Aftermarket; vehicle type- Passenger, LVs, HCVs, Ultra-high Performance tires, Two-wheeler and others. The report showcases potential growth opportunities in the forecast period, while also reviewing the market drivers, restraints, opportunities, market dynamics, competitive landscape, and other key aspects like supply chain with respect to automotive tires. The report also covers qualitative aspects such as value chain analysis, Technological Roadmap, and Porter’s five force analysis for the global market. The key players in this market have also been identified and profiled. Some of the key players mentioned in the report are Bridgestone Group, Continental Group, Goodyear Tire & Rubber Company, Michelin Group, Sumitomo, and Pirelli.
WHAT THE REPORT OFFERS
Market Definition and Scope along with identification of key drivers and restraints for each segments in the market.
Market analysis with specific studies and theoretical analysis on the tire market for each region
Identification of factors that has been instrumental in changing the market dynamics, prospective opportunities for each segments and identification of key factors, influencing the market.
Extensively researched competitive landscape segment with the market dynamics for each major player across the region.
Identification and analysis of the macro and micro factors that affect the growth of the industry for each region as well as for countries.
Complete report details @ https://www.wiseguyreports.com/reports/440182-global-automotive-tires-market-overview-and-forecast
Key points in table of content
1.1 Research Methodology
1.2 Key Findings of the Study
2. KEY FINDINGS
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW AND TECHNOLOGY TRENDS
4.1 Current Market Scenario
4.2 Technology Trends
4.3 Porter’s Five Forces Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the industry
5. MARKET DYNAMICS
5.4 Procurement Strategies
6. GLOBAL AUTOMOTIVE TIRES MARKET, BY TIRE TYPE (Growth, Innovations and Feasibility )
6.1 Winter Automotive Tires
6.2 Summer Automotive Tires
6.3 All-Season Automotive Tires
6.4 Luxury/Performance Automotive Tires
7. GLOBAL AUTOMOTIVE TIRES MARKET, BY END CONSUMERS (Growth, Trends, Forecasts)
8. GLOBAL AUTOMOTIVE TIRES MARKET, BY VEHICLE TYPE (Growth, Trends and Durability)
8.1 Passenger Vehicles
8.4 Ultra High Performance/Touring Automotive Tires
9. GLOBAL AUTOMOTIVE TIRES MARKET ,BY GEOGRAPHY
9.1 North America (NA)
9.2 Europe (EU)
9.3 Asia-Pacific (APAC)
9.4 Middle-East and Africa (MEA)
9.4.2 South Africa
9.4.3 Saudi Arabia
9.4.5 Rest of the MEA
9.5 Latin America
9.5.5 Rest of Latin America
10. COMPETITIVE LANDSCAPE
10.2 Value Chain Analysis
10.3 Market Share Analysis
10.4 Developments of Key players
11. KEY VENDOR ANALYSIS
11.3 Cooper Tire & Rubber Company
11.4 Goodyear Dunlop Tires
11.5 Hankook Tire Co. Ltd.
11.6 Maxxis International
11.7 Michelin Group
11.8 MRF Tires
11.9 Pirelli & C. S.P.A.
11.10 Sumitomo Rubber Industries, Ltd.
11.11 Yokohama Rubber Co., Ltd.
11.12 Zhongce Rubber Group
12. FUTURE AND INVESTMENT OUTLOOK
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