Dublin, Oct. 4, 2013 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/9mp5mn/global_tire)
has announced the addition of the "Global
Tire Market 2011-2015" report to their offering.
TechNavio's analysts forecast the Global Tire market to grow at a
CAGR of 5.01 percent over the period 2011-2015. One of the key
factors for this growth is the growing Global Motorcycle market.
The Global Tire market has also been witnessing the growing Global
Automotive Tire market, which includes light, medium and heavy
vehicles during forecast period. However, the increasing cost of
raw materials and commodity products are acting as a barrier to the
growth.
Key vendors dominating this market space include Bridgestone Corp.,
Compagnie Generale des Etablissements Michelin SCA, The Goodyear
Tire and Rubber Co., and Continental AG.
Other vendors mentioned in the report: Pirelli and C. SpA, Sumitomo
Rubber Industries Ltd., Yokohama Rubber Co. Ltd., Hankook Tire Co.
Ltd., Cooper Tire and Rubber Co., Cheng-Shin Rubber Industries Co.
Ltd., and HangZhou ZhongCe Rubber Co. Ltd.
Commenting on the report, an analyst from TechNavio's Automotive
team said: ''The growing Global Automotive Tire market, which
includes light, medium and heavy vehicles, is one of the major
trends that will lead to the growth of the Global Tire
market. The increasing demand for tires from the Global
Automotive market directly influences the demand for tires globally
and hence impacts the Global Tire market.''
According to the report, the growing demand for motorcycles is one
of the key drivers of the growth of the Global
Tire market. The increasing demand for motorcycles positively
influences the demand for tires and hence leads to the growth of
the Global Tire market. The demand for motorcycles comes from
developing and under-developed countries where the penetration rate
of cars is low. Also, it is expected that the adoption of tubeless
tires in the Global Motorcycle market will increase and will have a
positive impact on the Global Tire market.
Further, the report also discusses that the increased cost of raw
material and commodity products is one of the major challenges in
the Global Tire market.
For more information visit http://www.researchandmarkets.com/research/9mp5mn/global_tire
Research and Markets
Laura Wood, Senior Manager.
press@researchandmarkets.com
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector:
Tyres