Description
The Automotive tires market is expected to grow in the near future owing to the increasing demand and production of automobiles.The increase in research and technological developments so as to provide high-quality tires to increase the fuel-efficiency of automobiles, the increasing standard of living, growing passenger cars segment, the decrease in rubber pricesare contributing to the growth of market. The decline in exports, the government regulations like taxation on foreign tires and fluctuations in the availability of raw materials and their prices pose some challenge to the growth of the market. One of the major drivers of the growth of this market is the increasing demand of eco-friendly tires. The eco-friendly tires are a means to make the automobiles fuel-efficient as these tires have less rolling resistance and hence lead to less fuel consumption.
End-user/Technology
The end-users of automotive tires are the automotive vehicle end-users i.e. OEM and aftermarket. OEMs are the Original Equipment manufacturers who manufacture the tires to match the tire specifications of a particular car’s make and model. Whereas the aftermarkets are the third party manufacturers who manufacture the tires in high volume to fit the tire specifications of more than a one vehicle, and not just one car’s make and model.
The technology which is showing boom in the automotive tires market is the use of passive RFID tags in tires. The passive tags are used as they do not require any battery. Commercial truck tire manufacturers have started implanting radio frequency identification i.e. RFID tags in the tires while manufacturing them. This technology is beneficial to both the manufacturer as well as the truck fleets to track the tire performance. The RFID tag contains a microchip and an antenna. The microchip is used to store and process information and the antenna is used to transmit and receive signals. The RFID tag is surrounded by a transmitter, a receiver and a reader. Also. Bio-oils are now being used in tires to provide ecological tires for fuel-efficient driving experience.
Market Dynamics
The Automotive tires market has presence of well-established international, regional and local players. The large and medium vendors compete intensely for market share. The increasing demand for automobiles and increasing standard of living of the people in emerging economies is also attributing to the growth of this market, specially the passenger car segment. The opportunities of technological advances like use of bio-fuels to develop eco-friendly tires and RFID tags in the tires also drive the competitive advantage in this market.
Market Segmentation
The market is segmented mainly in terms of the application (vehicle type), geography and end-users.
By application, the market is segmented into:
• Passenger cars
• Light Commercial Vehicles (LCVs)
• Medium and Heavy Commercial Vehicles (M&HCVs)
By geography, the market is segmented into:
• Asia Pacific excluding Japan
• North America
• Western Europe
By end-users, the market is segmented into:
• OEMs
• Aftermarket
Regional/Geographic Analysis
The APAC region except Japan has many emerging economies with high demand for automobiles and hence the automotive tires. APAC is the highest revenue generating region for the automotive tires market and is expected to show high growth in this market in near future. Also, Western Europe is expected to show similar growth rate pattern which is followed by North America.
Opportunities
The market has several opportunities with regard to development of technologies for providing ecofriendly tires so as to increase the fuel-efficiency of automobile vehicles. The passenger car and LCV segment also offers future opportunities in this market. Emerging trends like development of non-pneumatic tires and TPMS system have an impact on the future opportunities in the automobile tires market.
Key Players
Some of the major players in the market include:
• Bridgestone Group
• Continental Group
• Goodyear Tire & Rubber Company
• Michelin Group
The other players in the market include Sumitomo Rubber Industries, Pirelli, Apollo Tyres, Hankook Tire, MRF, Cooper Tire & Rubber Company, JK Tyre, and Yokohama Tire Corporation.
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage
