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Opportunities for the global automotive tire market to reach $257.5 billion by 2021 -USD 75,039

Publish Date: 11-01-2018 03:38:40 | Contact name: Lucintel | Location: USA | 156 times displayed |



According to a new market report published by
Lucintel, 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.



In this market, passenger car, light
commercial vehicle, and heavy commercial vehicle are the market segments by
vehicle type. On the basis of end user, the market is segmented into OEMs and
aftermarket. The report also categorizes the market by tire type, which
includes bias and radial tires. 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.



For business expansion, the report suggests
innovation and new product development to produce eco-friendly tires, which
reduces rolling resistance of vehicles and ensures passenger safety and comfort.
The report further suggests the development of partnerships with customers to
create win-win situations and development of low-cost solutions for customers.





Emerging trends, which have a direct impact on
the dynamics of the market, include focus on fuel-efficient tires, evolution of
green tires, development of TPMS systems, and development of non-pneumatic tires.
Bridgestone Corporation, Michelin SCA, Goodyear Tire & Rubber Co,
Continental AG, and Pirelli are the major automotive tire manufacturers in this
market. Of these, several are
seeking mergers and acquisitions as strategic initiatives to drive growth.





Lucintel, a leading global strategic
consulting and market research firm, has analyzed growth opportunities in the
global automotive tire market by vehicle type, end-user, tire type, and region,
and has compiled a comprehensive research report entitled “Growth
Opportunities in the Global Automotive Tire Market 2016-2021: Trends, Forecast,
and Opportunity Analysis
.”
The Lucintel report serves as a springboard for growth strategy, as it provides
a comprehensive data and analysis on trends, key drivers, and directions. 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:





By Vehicle Type ($ billion and million units from
2010 to 2021)



·
Passenger Car



o Small car



o Compact car



o Mid-size car



o Large car



·
Light Commercial Vehicle



o Pickup trucks



o SUV



o MPV



o Vans



·
Heavy Commercial Vehicle



By vehicle End-User ($ billion and million
units from 2010 to 2021)



·
OEMs



·
Aftermarket



By Tire Type ($ billion and million units from
2010 to 2021)



·
Bias



·
Radial



By Region ($ billion and million units from 2010 to
2021)



·
North America



·
Europe



·
Asia Pacific



·
Rest of the World



This
284-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or
helpdesk@lucintel.com. Lucintel
offerings include Mass
Transportation
, Transportation
Market Report
, SWOT
Matrix
,
Due Diligence and
Mergers & Acquisitions.



About
Lucintel



Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.



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 this
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 market?



Q.8.
What are the new developments in the
market? Which companies are leading these developments?



Q.9.
Who are the major players in this
market? What strategic initiatives are key players pursuing for business
growth?



Q.10.
What are some of the competing products
in this market and how big of a threat do they pose for loss of market share by
materials / product substitution?



Q.11.
What M&A activity has occurred in
the last 5 years and what is its impact on the industry?



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