Rubber Tires Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019
The
world runs on wheels, and almost all automotive-wheels essentially need
tires.
Modern
pneumatic tire production fundamentally needs synthetic or natural rubber along
with other chemicals. A huge majority of the world rubber production is
consumed by the tire industry. The crucial performance requirements of
automotive-tires are to provide grip to the vehicle, resist abrasion, and carry
and transport loads, all the while providing reasonable safety and performance
to the vehicle. Different types of rubber are used for manufacturing tires for
different purposes. The tire industry has been growing tremendously over the
past decade, both in terms of volume and revenue, due to the increase in
demand.
To
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This
trend is likely to sustain in the future as well. The Asian market is expected
to provide a boost to the tire industry. The U.S. and European region is
projected to witness a growth below the global average, which is boosted by
rubber requirements in China. Latin America and the Middle East are also
expected to up the demand for tires due to increased automotive production in
the regions.
One
of the primary drivers for this market is the exponential increase in the
number of vehicles produced throughout the world. China, for example, is the
leading consumer of bicycles and motorcycle tires, and comes second only to the
USA in terms of motor vehicle tires. The population growth along with a
significant rise in income levels in Asia-Pacific is the reason for the growth
of the automobile industry, and indirectly the tire industry.
The
governments of many countries have doled out economic stimulus packages for the
automotive industry to add vigor to automobile manufacturing, which have led to
an increase in the level of production and demand for tires. Tires are not only
used in new vehicles, but need to be replaced in old vehicles as well due to
wear and tear, which is also a major market for rubber tires. Airplane
tires are a niche market, but is a high revenue contributor to the rubber tire
market. However, there are certain restraints to this market.
It
is highly susceptible to the prevailing macro-economic conditions of the world.
Rise in fuel prices can act as a deterrent to automobile production and affect
the tire industry. Due to financial burdens, several automobile manufacturers
in the past had implemented large-scale production cut-backs, which affected
the sales negatively.
Some
of the major players in this market are Bridgestone Corporation, Goodyear, MRF,
Continental AG, Maxxis International, and Eurogrip Tires among many others.
This
research report analyzes this market depending on its market segments, major
geographies, and current market trends. Geographies analyzed under this
research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This
report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This
report is a complete study of current trends in the market, industry growth
drivers, and restraints. It provides market projections for the coming years.
It includes analysis of recent developments in technology, Porter’s five force
model analysis and detailed profiles of top industry players. The report also
includes a review of micro and macro factors essential for the existing market
players and new entrants along with detailed value chain analysis.
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