The global automotive tire market is expected to reach $257.5 billion by 2021

IRVING, Texas, Dec. 21, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global automotive tire market looks promising with opportunities in the passenger car and light commercial vehicle. The global automotive tire market is expected to reach an estimated $257.5 billion by 2021 and it is forecast to grow at a CAGR of 4.6% from 2016 to 2021.

This report has 248 figures/charts and 86 tables spread through 284 pages. For more detail please click http://www.lucintel.com/automotive_tire_market_2016_2021.aspx

Asia Pacific is expected to overtake the North American automotive tire market during the forecast period due to its high vehicle production, improvement in the economic conditions and increasing investment by the industry players within the APAC region.

Emerging trends, which have a direct impact on the dynamics of the market, include focus on fuel-efficient tires, evolution of green tires, development of TPMS systems, and development of non-pneumatic tires. Bridgestone Corporation, Michelin SCA, Goodyear Tire & Rubber Co, Continental AG, and Pirelli are the major automotive tire manufacturers in this market. Of these, several are seeking mergers and acquisitions as strategic initiatives to drive growth.  

The study includes a forecast for the growth opportunities in the global automotive tire market by vehicle type, end-user, tire type, and region, as follows:

By Vehicle Type ($ billion and million units from 2010 to 2021)

• Passenger Car
  • Small car
  • Compact car
  • Mid-size car
  • Large car

Light Commercial Vehicle

• Pickup trucks
• SUV
• MPV
• Vans

Heavy Commercial Vehicle

By vehicle End-User ($ billion and million units from 2010 to 2021)

• OEMs
• Aftermarket

By Tire Type ($ billion and million units from 2010 to 2021)

• Bias
• Radial

This 284-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/automotive_tire_market_2016_2021.aspx or   [email protected].

About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

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Roy Almaguer  
Director of Client Engagements  
Tel. +1-210-878-7693  
[email protected]

SOURCE Lucintel

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