Global Tire Market Share | Size | Industry Analysis & Forecast 2017-2022

Global Tire Market Stimulated by Growth in the
Automobile Industry
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Report Description and Highlights
Report Description
Global Tire Market Stimulated by Growth in the Automobile Industry
A surge in the sales of passenger and commercial vehicles has been witnessed on account of rampantly
rising population, especially in developing regions. This has acted as a major catalyst for the growth of
the global tire market.
The latest report by IMARC Group, titled “Tire Market - Global Industry Trends, Share, Size,
Growth, Opportunity and Forecast 2017-2022”, finds that the global tire market has grown at a
CAGR of 4.5% during 2009-2016, reaching a volume of 2.9 Billion Units in 2016. Tires are made
from synthetic rubber, natural rubber, carbon black, fabric & wire and other chemical compounds.
They consist of a tread and a body wherein the tread provides traction while the body provides
containment for a quantity of compressed air. Tires encircle the wheel's rim in order to provide a
strong grip between the vehicle and the road. This helps in protecting and enabling the vehicle for
better performance, meanwhile providing a flexible cushion to absorb shock.
There are various growth inducing factors which have contributed to the demand for tires globally.
One of the major factors is a strong growth in the automobile industry, which has led to an
increase in the sales of commercial and passenger vehicles, particularly in developing regions.
Some of the other factors covered in the report include growing population, increasing disposable
incomes and improving standards of living. According to the report, the market is further expected
to reach a volume of 3.6 Billion Units by 2022.

Report Description and Highlights
Report Description

Report Description and Highlights
Report Description
The report has segmented the market on the basis of application. Some of the major applications of
tires lie in passenger car/light truck, commercial tires (trucks) and commercial tires (off-highway). In
2016, passenger car/light truck tire occupied the largest share in the global tire market and is expected
to exhibit a high growth in the coming years. The report has bifurcated the market into Original
Equipment Manufacturing (OEM) market and Replacement Manufacturing market. In 2016, the
Replacement Manufacturing market accounted for the majority of the global market share.
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Apart from this, the report has also segmented the market on a regional basis. The key regions
covered in the report are the United States, Japan, India, China, Europe and Brazil. Currently, China
represented the world’s largest tire market as there has been an exponential increase in the number
of vehicles produced in the region. An analysis of the competitive landscape is also presented with
some of the key players being Continental AG Germany, Pirelli & C SpA, Sumitomo Rubber Industries
Ltd., Hankook Tyre Co., Yokohama Rubber Corp., Cheng Shin Rubber, Hangzhou Zhongce Rubber Group
Co., Bridgestone Corporation, Groupe Michelin, Goodyear Tyre & Rubber Co., etc.

Report Description and Highlights
Report Description

Report Description and Highlights
Report Description
The report gives a detailed roadmap for starting a tire manufacturing plant. The study, done by one
of the leading research and advisory firms, covers all the requisite aspects of the global tire
market. This ranges from a comprehensive view of the market to minute details of the industry
performance, processing & manufacturing requirements, project cost, project funding, project
economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain
and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the
competitive landscape. This report is a must-read for entrepreneurs, investors, researchers,
consultants, business strategists, and all those who are planning to foray into the tire market in any
manner.
Browse full report @ http://www.imarcgroup.com/tyre-manufacturing-plant

Report Description and Highlights
Report Description
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