Market Research Report
Global Tire Market by Vehicle Type, By Demand Category, By Radial Vs Bias, By Region, Competition Forecast & Opportunities, 2013 - 2025F
|Published by||TechSci Research||Product code||963434|
|Published||Content info||563 Pages
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|Global Tire Market by Vehicle Type, By Demand Category, By Radial Vs Bias, By Region, Competition Forecast & Opportunities, 2013 - 2025F|
|Published: October 1, 2020||Content info: 563 Pages||
Global Tire Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two-Wheeler, Three Wheeler and OTR), By Demand Category (OEM vs. Replacement), By Radial Vs Bias, By Region, Competition Forecast & Opportunities, 2013 - 2025F.
In 2019, the global tire market stood around 2,240 million units in terms of volume and is expected to grow at a moderate pace during forecast period and cross 2,740 million units by 2025. Factors driving demand for automobile tires include rising tire sales from OEMs on the back of increasing production of vehicles with various technological advancements in automotive industry, shifting demand towards better lifespan, light weight, environmental friendly tires, coupled with growing tire sales in the replacement segment across the globe owing to continuous increase in the vehicle fleet size.
Global tire market is mainly classified based on vehicle type, demand category, radial vs bias, and regions. The global tire market has also captured the preferred tire sizes of 80 countries, combined with details of tire plants such as production capacities and greenfield or brownfield type located across the globe. Based on the vehicle type, the market is bifurcated into passenger car tire, light commercial vehicle (LCV) tire, medium & heavy commercial vehicle (M&HCV) tire, two-wheeler tire, three-wheeler tire and OTR tire segments. Passenger car tires accounted for the largest share and the segment is poised to grow at an impressive rate during the projected period as well, as the demand for passenger cars has been increasing in all the regions across the globe.
In terms of demand category, replacement market has dominated the global tire market with an estimated market share of over 70% and is expected to continue its dominance through 2025. However, in the future years, it is expected that the market share of OEM will rise owing due to the rising production of vehicles and technological advancements in automotive industry across the globe. In terms of technology type, the market is largely accounted for by radial tires and the segment is forecast to hold its dominance during forecast period.
Major players operating in the Global tires market include Bridgestone Corporation, Compagnie Generale des Etablissements Michelin SCA, Goodyear Tire & Rubber Company, Continental AG, among others.
To perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of tires players operating globally. Subsequently, TechSci Research conducted primary research surveys, which include primary calls, email responses, etc., with the identified companies. While interviewing, the respondents were also asked about their major competitors. Through this technique, TechSci Research could include manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed product offerings and regional presence of all major tire suppliers across the globe.
TechSci Research calculated the market size for global tires by using a bottom-up technique, wherein manufacturers' volume sales data for different applications, were recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated through analysing historical sales data of respective manufacturers to arrive at the overall market size. Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also studied by TechSci Research.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as tires manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years, thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, Global tires market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Company Profiles: Detailed analysis of the major companies present in tires.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Figure 265; Chile Tire Market Share, By Demand Category, By Volume, 2013-2025F
Figure 276; Middle East Tire Market Share, By Company, By Volume, 2017 & 2019