World Tire Market Outlook 2020-2025 - Global Market Forecast to Reach 2.7 Billion Units by 2025

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Sep 08, 2020, 11:00 ET

DUBLIN, Sept. 8, 2020 /PRNewswire/ -- 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/vwa2fh

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