The global automotive tire industry holds opportunities for industry players due to the strong demand for replacement tires and increasing sales of passenger and commercial vehicles in developing countries. The market is forecast to reach an estimated US $187billionin 2017 with a CAGR of 4%over the next five years (2012–2017).
Lucintel, a leading global Management Consulting and market research firm, has analyzed the global automotive tire marketand presents its findings in “Global Automotive Tire Industry Analysis 2012-2017:Industry Trend, Profit and Forecast Analysis.”
The global automotive tire market is highly consolidated and consists of passenger car tires, heavy trucktires, and others segments. North America dominates this market and represents approximately 30% of the global revenue.Europe emerged as the highest potential market, followed by APAC and North America in 2011.Competition among the top market players isstrongdue to product design, core technology, performance, price and terms, reputation, warranty terms, customer service, and consumer convenience. A combination of factors, such as vehicle sales, government regulations,and environmental concerns, impacts market dynamics significantly.
In the global automotive tire industry, APAC is expected to have the highest growth over the forecast period. APAC is expected to lead in rubber demand through 2012, reflecting market strength in China, India, Thailand, and Vietnam. The passenger car segment is forecast to growth the fastest during the next five years.The growing Indian tractor market provides an opportunity to the US farm tire market in terms of more exports.
This research report from Lucintel is a cost-effective tool that portrays the key aspects of the automotive tire industry.The study provides an overview of the global automotive tire market. The report tracks three market segments for four regions, NA, Europe, APAC, and ROW; thus, it tracks 12 segments of the global automotive tire market. The scope of this study is limited to annual trends for the past five years (2006-2011) and forecasts for the next five years (2012-2017).
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