Dublin, Sept. 04, 2020 (GLOBE NEWSWIRE) -- The "Tires - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for tires is forecast to reach 2. 7 billion units by 2025, driven by continuous developments in tire engineering particularly innovations surrounding tire tread technology. Macro factors driving growth in the market include healthy upswing in agrarian economies focused on mechanization and the resulting strong demand for agricultural vehicle tires; healthy recovery in the global construction industry, increased spending on construction vehicles and a parallel increase in demand for construction tires in the OEM market; strong demand for commercial vehicle tires at the back of growing investments in fleet expansion in the logistics industry; government focus on smart transportation, increased investment in BRT (Bus Rapid Transit) systems and the ensuing healthy demand for bus tires; and rising vehicle density and a commensurate expansion of addressable market opportunities for replacement tires in the aftermarket.
Poised to score the highest gains in the market in the coming years will be premium and speciality tires with high speed, low rolling resistance, high insulation to reduce road noise, additional cushioning, and innovative tread grooves and patterns. Replacement demand remains critical to the market’s growth given that most tires wearing out well before they get old. Smart tires with in-built sensors for improved tire management capability will grow in prominence in the coming years.
Tire recycling also represents an important theme in the market given that most of the tires, after the end of their life cycle, end up in land fill sites, which in turn pose a major threat to the environment and human health as stockpiling and tire build-up results in leakage of toxins into the ground under damp conditions. The EU leads the race in implementing effective tire recycling systems by introducing regulatory mandates. The tire recycling percentage in EU is around 95% and is followed by Japan with 89% and Canada with 80%. The EU has already banned landfills, a strategy which is being followed by various countries in the world. Recycling in Europe is a massive and lucrative business and companies continuously invest in the development of innovative new recycling technologies. Tire manufacturers in the region are either taxed for the environmental pollution caused by tires or are obligated to participate in the deposit-and-return approach developed for generating funds to meet collection and recycling costs. Against a backdrop of rising emphasis on waste management, extended producer responsibility (EPR) is growing in popularity as governments seek to integrate the environmental costs of a product’s lifecycle into the market price of the product.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Automotive Tires: An Introduction
- Definitions of Key Tire components
- Elements of Tire Designing
- Dynamics of Design Element of Tires
- Trade-Off between Fuel-Efficient and Non-Fuel-Efficient Tires
- Developments in Design
- Tire Composition: Percentage Breakdown of Components by Weight for Passenger Car and Truck Tires
- Belt Cord Construction for Passenger Tires for Replacement and OEM Market: Percentage Composition by Material Type
- Advantages of Radial Tires over Bias Tires
- Tire Classification and Segmentation by Vehicle Type
- Growing Volumes of Reclaimed Rubber Highlights the Progressive Improvements Made in Scrap Tire Recycling: Global Reclaimed Rubber Market (in Kilo Tons) for the years 2014, 2016 and 2022
- Tires: The Most Important Part of the Automobile
- Rising Automobile Production and Technological Advances Set Perfect Stage for Growth of Global Tire Market
- China and Other Developed Regions Exhibit Faster Growth Pace
- World Tires Market by Region: Percentage Breakdown of Revenues for China, Other Emerging Regions and Developed Regions for the Years 2019 & 2025
- World Tires Market: Geographic Regions Ranked by Value CAGR for 2018-2025
- Stable Economic Scenario to Positively Influence Automotive Tires Market
- Global Economic Outlook: Real GDP Growth Rates in % by Country/Region for the Years 2018 through 2021
- Key Growth Drivers in Nutshell
- Anticipated Increase in Vehicle Production
- Increasing Automotive Sales
- Rising Adoption of High-Performance Tires
- Rising LCV Sales to Benefit Radial Tires
- Extended Operating Lifespan of Vehicles
- Increasing Competition and Sophisticated Manufacturing Processes
- Coronavirus Outbreak Catches Automotive and Tire Industries Off-Guard
2. FOCUS ON SELECT PLAYERS
- Apollo Tyres Ltd.
- Avon Tyres
- Bridgestone Corporation
- CEAT
- Cheng Shin Rubber Ind. Co. Ltd.
- Continental AG
- Cooper Tire & Rubber Company
- Giti Tire Pte. Ltd.
- Goodyear Tire & Rubber Company
- Hankook Tire Co., Ltd.
- JK Tyre & Industries Ltd.
- Kumho Tire Co., Inc.
- Maxxis International
- Michelin
- MITAS A.S.
- MRF
- Nexen Tire Corporation
- Nokian Tyres Oyj
- Pirelli & C. S.p.A.
- Shandong Linglong Tire Co., Ltd.
- Sumitomo Rubber Industries, Ltd
- Techking Tires Ltd.
- Titan International, Inc.
- Toyo Tire & Rubber Co., Ltd.
- Trelleborg Wheel Systems Americas, Inc.
- Yokohama Rubber Co., Ltd.
- Zhongce Rubber Group Co., Ltd.
3. MARKET TRENDS & DRIVERS4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/exo8vt
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