NEW YORK, March 7, 2017 /PRNewswire/ -- Tires are an important component of the automobile industry where the production and sales of vehicles directly affect the dynamics of the tire industry. Owing to a continuous growth over the past decade, both in terms of volume and revenue, the tire industry currently represents a multibillion dollar industry. Driven by a rising population, urbanization, lifestyle changes and increase in disposable incomes, the purchasing capacity of consumers worldwide has increased significantly. This has propelled the demand of automobiles which in turn is driving the growth of the global tire market.
The global tire market reached figures worth more than 2.9 Billion units in 2016, growing at a CAGR of around 4.5% during the last seven years. This market can be broken into two sectors – the OEM and the replacement market. The demand from the OEM tire market is dependent upon the sales of new vehicles and is thus prone to a high degree of cyclicality. Demand in the replacement tire market depends upon the usage patterns and the replacement cycles of existing tires. The replacement tire market is comparatively less cyclical and represents a higher margin business. Region-wise, China currently represents the world's biggest market for tires. The Chinese automotive industry, in particular, has grown at a tremendous pace and has catalyzed the development of the country's tire industry, both in terms of production as well as consumption. China was followed by Europe, the United States and Japan.
The report titled "Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022" provides a comprehensive insight into the global tire market and the requirements to setup and run a tire manufacturing plant. This includes the analysis of the tire industry both at a global and regional level. The study, which is based both on desk research and multiple waves of qualitative primary research, is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the tire industry in any manner.
What we have achieved in this report?
Analysis of the global tire market
Focus of the analysis:
Current, historical and future trends in the global tire industry
Key players in the global market
Breakup of the global market by region
Breakup of the global market by application
Breakup of the global market by segment
Analysis of key developed and emerging tire markets
Regions Covered: China, European, US, Japanese, Indian, Russian and Brazilian
Focus of the analysis for each region:
Current and historical market trends
Market breakup by application
Understanding the requirements to setup and run a tire manufacturing plant
Key Questions Answered in This Report?
How has the tire market performed so far and how will it perform in the coming years?
What are the key regional markets in the global tire industry?
What are the various stages in the value chain of the tire industry?
What are the key driving factors and challenges in the tire industry?
What is the structure of the tire industry and who are the key players?
What is the degree of competition in the tire industry?
What are the profit margins in the tire industry?
What are the key requirements for setting up a tire plant?
How is tire manufactured?
What are the various unit operations involved in a tire plant?
What is the total size of land required for setting up a tire plant?
What are the machinery requirements for setting up a tire plant?
What are the raw material requirements for setting up a tire plant?
What are the packaging requirements for tire?
What are the transportation requirements for tire?
What are the utility requirements for setting up a tire plant?
What are the manpower requirements for setting up a tire plant?
What are the infrastructure costs for setting up a tire plant?
What are the capital costs for setting up a tire plant?
What are the operating costs for setting up a tire plant?
What will be the income and expenditures for a tire plant?
What is the time required to break-even?
Read the full report: http://www.reportlinker.com/p04715177-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.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/tire-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2017-2022-300419823.html