NEW YORK, Oct. 25, 2016 /PRNewswire/ -- Globally, commercial vehicle tires are usually deployed in vehicles with the load limit of either 3.5 tons to 7 tons or over 7 tons. Commercial vehicles, comprising Light Commercial Vehicle (LCV) and Medium & Heavy Commercial Vehicle (M&HCV), are majorly used for public transportation, load carriage, long-haulage, logistics activities, etc. Construction and logistics industries are the major demand generators of commercial vehicles across the globe. Governments in various major developing and developed countries are continuously launching plans and programs for stimulating growth in infrastructure, construction & industrial sectors. This is expected to positively influence demand for LCVs and M&HCVs over the next five years, consequently boosting demand for LCV and M&HCV tires through 2021. During 2011-2015, global logistics market grew at a CAGR of over 32%, predominantly owing to robustly expanding e-commerce industry. Expanding logistics sector has been augmenting demand for commercial vehicle tires over the last five years, globally.
According to "Global Commercial Vehicle Tire Market By Vehicle Type, By Demand Category, By Region, Competition Forecast & Opportunities, 2021", the global market for commercial vehicle tires is projected to cross $ 117 billion by 2021. In 2015, Asia-Pacific dominated the global commercial vehicle tire market, followed by North America, Europe & CIS Countries, Middle East & Africa and South America. Asia-Pacific region is anticipated to maintain its dominance over the next five years as well owing to expanding commercial vehicle fleet in the major regional economies such as China, India and Japan. In 2015, China accounted for the largest share in Asia-Pacific commercial vehicle tire market on account of booming logistics and transportation sector. Pirelli, Continental, Goodyear, Bridgestone and Michelin are few of the leading global commercial vehicle tire companies. These companies are anticipated to continue their dominance through the forecast period, on account of their strong brand acceptance among consumers and widespread dealership network, globally. "Global Commercial Vehicle Tire Market By Vehicle Type, By Demand Category, By Region, Competition Forecast & Opportunities, 2021" discusses the following aspects of global commercial vehicle tire market:
- Global Commercial Vehicle Tire Market Size, Share & Forecast
- Segmental Analysis – By Vehicle Type (LCV and M&HCV), By Demand Category (OEM Vs Replacement)
- Regional Analysis - North America, Europe & CIS Countries, Asia-Pacific, Middle East & Africa and South America
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of global commercial vehicle tire market
- To identify the on-going trends and anticipated growth in the next five years
- To help industry consultants and commercial vehicle tire manufacturers, distributors and other stakeholders align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interviews with commercial vehicle tire manufacturers, OEM's, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
Read the full report: http://www.reportlinker.com/p03992033-summary/view-report.html
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-commercial-vehicle-tire-market-by-vehicle-type-lcv-and-mhcv-by-demand-category-oem-vs-replacement-by-region-apac-americas-europe--cis-and-mea-competition-forecast--opportunities-2021-300351285.html