Harrisburg, NC -- (SBWIRE) -- 10/09/2018 -- The research report presents a comprehensive assessment of the Tires & Rubber market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and deal landscapes.
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Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the Tires & Rubber market. This research report offers in-depth analysis of the market size (revenue), market share, major market segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and challenges.
Key Highlights
- The tires and rubber market consists of the manufacturers revenues generated through the sales of both aftermarket (replacement) and original equipment manufacturer (OEM) tires for passenger cars and commercial vehicles, earthmoving equipment, motorcycles, scooters, bicycles, and aircraft. The volume represents the number of tires produced for passenger cars and commercial vehicles only, including OEM and aftermarket tires. For the purpose of this report, pickups and SUVs are classified as commercial vehicles even when used primarily as private passenger cars. All currency conversions used in the creation of this report have been calculated using constant 2017 average exchange rates.
- The global tires & rubber market had total revenues of $638.5bn in 2017, representing a compound annual growth rate (CAGR) of 6.1% between 2013 and 2017.
- Regulation in the European market is far stricter as compared to many other parts of the world, and players in the German tires and rubber market have to ensure their products meet the eco-friendly standards set by EU regulations such as regulation 1222/2009. The Union also introduced in 2012 an EU label for tires deemed to be environment friendly, and many manufactures such as Continental have introduced tires such as the Sport Contact 5 brand that qualify for this label. The reason for this is the increasing awareness amongst German consumers of the benefits of eco-friendly products, and players in the market have as such introduced products that will meet the demand of such consumers.
- The United Steelworkers union (USW) launched a petition in 2016 to urge increased duties be imposed on imported Chinese tires which they claimed were damaging the US tires & rubber market. In February 2017 however the US International Trade Commission in a 3:2 vote, found that the US tires and rubber market was not damaged by the alleged dumping of Chinese tires into the US market. This is positive news from the point of view of Chinese tire manufacturers, as it ensures that a major export destination for players in the Chinese tire and rubber market remains available.
- Commodity prices fluctuate wildly, making cost control difficult. Companies that backwards integrate are particularly at risk
- Leading tire manufacturers are increasingly forward integrating into the automotive aftermarket space.
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This report provides in-depth analysis of the Tires & Rubber and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2018 – 2022, considering 2017 as the base year. It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. This study also provides key insights about market drivers, restraints, opportunities, new product launches, approvals, regional outlook, and competitive strategies.
Scope of The Report
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the tires & rubber market
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global tires & rubber market
- Leading company profiles reveal details of key tires & rubber market players global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Global tires & rubber market with five year forecasts by both value and volume
- Quickly and easily identify the key stages and sub-stages of the global tires & rubber market value/supply chain
- See examples of companies active at each stage of the global tires & rubber market value/supply chain
- Examine trends and burning issues impacting the global tires & rubber market value/supply chain
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