Product Code: AT 3223
"Increasing average miles driven by vehicle and growing vehicle parc would drive the tires aftermarket"
The tires aftermarket, by value, is projected to grow to USD 113.1 billion by 2025 from USD 101.7 billion in 2019, at a CAGR of 1.8%. The growth in automobile ownership per capita and the shifting demand of customers towards use of low rolling resistance tires and increase in average miles driven by the vehicle will boost the future growth of the tires market.
North America to be the largest market for retreading
The higher fleet of light commercial vehicles, as well as heavy commercial vehicle coupled with relatively higher average miles, is driving the demand of the retreading market. Additionally, the growing retreading facilities in this region is further projected to bolster the retreaded tires demand during the forecast period.
"Section width of >230 mm is the fastest-growing segment in the tires replacement market."
Demand for low profile tires is increasing, and they have a more extensive section width than section height. More full section width gives increased vehicle stability, lighter weight, ability to handle increased payload weight, and improved fuel economy. In passenger cars segment, usually premium cars have section width >230 mm, for instance, in North America GM group Cadillac, FCA Dodge Challenger, Tata Range Rover Sport, BMW 5 series, Audi Q5 and other models have >230 mm section width tires. Premium cars are observed to be the segment with maximum tire replacement cycles. Around 85%-90% of heavy commercial vehicles have section width >230 mm.
Asia Pacific to be the largest market by volume for automotive tire aftermarket
Asia Pacific is estimated to dominate the automotive tire aftermarket by volume during the forecast period. This growth can be attributed to the improving socio-economic conditions in emerging economies such as China, India, Indonesia, and Thailand. An increase in the number of vehicle production and an increase in tire production is huge in this region. Also, the average miles driven by the all vehicle types is more in countries such as China and India. The region is home to leading Tier-1 manufacturers and OEM such as Bridgestone Corporation (Japan), Kumho Tire Co. (South Korea), Toyo Tire & Rubber Co., Ltd. (Japan), The Yokohama Rubber Co., Ltd. (Japan), Sumitomo Rubber Industries Ltd. (Japan), Hankook Tires (South Korea) have setup their manufacturing plants in the region. Thus, below factors are responsible for increase in the number in volume of tire aftermarket in the region.
The automotive tire market is dominated by global players and comprises several regional players as well. The key players in the Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France) and Sumitomo Rubber Industries (Japan).
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the blockchain in the telecom marketplace.
- By Companies: Tier 1 - 90%, Tier 2 - 10%
- By Designation: C-Level Executives - 20%, Manager level - 80%
- By Region: Asia Pacific- 35%, Europe - 30%, North America - 15%, Latin America - 10%, and MEA - 10%
The automotive tire market is dominated by global players and comprises several regional players. The key players in the automotive tire market are Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan). The study includes an in-depth competitive analysis of these key players in the automotive tire market with their company profiles, SWOT analysis and MnM view of the top 5 companies, recent developments, and key market strategies of the top 10 companies.
The report provides a picture of tires market across different verticals and regions. It aims at estimating the market size and future growth potential of the tires OE by rim size, tire type and region, and aftermarket by rim size, aspect ratio, section width, season, tire retreading, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Key Benefits of Buying the Report:
- The study provides a qualitative and quantitative analysis of the automotive tire market, by OE market, in volume (units) and value (USD million), at the regional level.
- The study provides a qualitative and quantitative analysis of the automotive tire market, by Aftermarket, in volume (units) and value (USD million), at the regional level.
- The study provides a qualitative and quantitative analysis of the automotive tire market, by vehicle type, in volume (units), and value (USD million), at the regional level.
- The study includes the profiles of 10 key companies and an additional ten companies, which have a significant impact on the market, along with their financial structure, recent developments, and product portfolio.
- The report covers the competitive landscape that reflects the market ranking analysis of leading players, along with the dominant strategies adopted by these stakeholders to retain their position.
TABLE OF CONTENTS
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 PRODUCT DEFINITION
- 1.3 MARKET SCOPE
- 1.4 LIMITATIONS
- 1.5 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.2 SECONDARY DATA
- 2.2.1 KEY SECONDARY SOURCES FOR VEHICLE PRODUCTION
- 2.2.2 KEY SECONDARY SOURCES FOR MARKET SIZING
- 2.2.3 KEY DATA FROM SECONDARY SOURCES
- 2.3 PRIMARY DATA
- 2.3.1 SAMPLING TECHNIQUES & DATA COLLECTION METHODS
- 2.3.2 PRIMARY PARTICIPANTS
- 2.4 MARKET SIZE ESTIMATION
- 2.4.1 BOTTOM-UP APPROACH: AUTOMOTIVE TIRE OE MARKET (RIM SIZE AND REGIONAL/ COUNTRY LEVEL)
- 2.4.2 TOP-DOWN APPROACH: AUTOMOTIVE TIRE OE MARKET (TIRE TYPE)
- 2.4.3 BOTTOM-UP APPROACH: AUTOMOTIVE TIRE AFTERMARKET (BY VEHICLE TYPE AND REGION)
- 2.4.4 TOP-DOWN APPROACH: AUTOMOTIVE TIRE AFTERMARKET (BY SECTION WIDTH, ASPECT RATIO, RIM SIZE, AND SEASON)
- 2.4.5 BOTTOM-UP APPROACH: AUTOMOTIVE TIRE RETREADING MARKET
(BY REGION AND VEHICLE TYPE) 34
- 2.5 MARKET BREAKDOWN AND DATA TRIANGULATION
- 2.6 ASSUMPTIONS & ASSOCIATED RISKS
- 2.6.1 AVERAGE NUMBER OF TIRES EMPLOYED, BY VEHICLE TYPE
- 2.6.2 AVERAGE NUMBER OF TIRES REPLACED IN A SINGLE SERVICE CYCLE,
BY VEHICLE TYPE 37
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 AUTOMOTIVE TIRE OE MARKET: TREND, FORECAST, OPPORTUNITY
- 4.2 AUTOMOTIVE TIRE OE MARKET, BY REGION
- 4.3 AUTOMOTIVE TIRE AFTERMARKET, BY REGION
- 4.4 AUTOMOTIVE TIRE OE MARKET, BY VEHICLE TYPE
- 4.5 AUTOMOTIVE TIRE OE MARKET, BY TYPE
- 4.6 AUTOMOTIVE TIRE AFTERMARKET, BY SEASON
- 4.7 AUTOMOTIVE TIRE AFTERMARKET, BY SECTION WIDTH
- 4.8 AUTOMOTIVE TIRE AFTERMARKET, BY ASPECT RATIO
- 4.9 AUTOMOTIVE TIRE AFTERMARKET, BY RIM SIZE
- 4.10 AUTOMOTIVE TIRE AFTERMARKET, BY VEHICLE TYPE
- 4.11 AUTOMOTIVE TIRE RETREADING MARKET, BY VEHICLE TYPE
5 RECOMMENDATIONS BY MARKETSANDMARKETS
- 5.1 ASIA PACIFIC IS THE PRIORITY MARKET TO FOCUS FOR AUTOMOTIVE TIRE MANUFACTURERS
- 5.2 COMPANIES SHOULD ENHANCE FOCUS ON HIGH PERFORMANCE AND GREEN TIRES
- 5.3 LARGE-SCALE RETREADING OF HEAVY COMMERCIAL VEHICLE TIRES
- 5.4 CONCLUSION
6 MARKET OVERVIEW
- 6.1 INTRODUCTION
- 6.2 MARKET DYNAMICS
- 6.2.1 DRIVERS
- 22.214.171.124 Increasing average life of vehicles and average annual miles driven by light-duty vehicles
- 126.96.36.199 Increase in demand for high-performance tires
- 188.8.131.52 High demand for low rolling resistance tires
- 6.2.2 RESTRAINTS
- 184.108.40.206 Volatility in raw material prices
- 220.127.116.11 Increasing longevity of tires affecting aftermarket sales
- 6.2.3 OPPORTUNITIES
- 18.104.22.168 Demand for eco-friendly tires owing to stringent regulations
- 22.214.171.124 Increased use of bio-oils in the manufacturing process of tires
- 126.96.36.199 Connected/Smart Tires for Autonomous Cars
- 6.2.4 CHALLENGES
- 188.8.131.52 Increasing number of mandatory tests to be performed before commercial use of tires
- 184.108.40.206 Investing in R&D for effective and sustainable waste management solutions to incur additional cost
- 6.3 PORTER'S FIVE FORCES ANALYSIS
- 6.3.1 THREAT OF NEW ENTRANTS
- 6.3.2 THREAT 0F SUBSTITUTES
- 6.3.3 BARGAINING POWER OF SUPPLIERS
- 6.3.4 BARGAINING POWER OF BUYERS
- 6.3.5 INTENSITY OF COMPETITIVE RIVALRY
- 6.4 FUTURE TECHNOLOGIES
- 6.4.1 MATERIAL TRENDS
- 6.4.2 NEW TIRE TYPES
- 220.127.116.11 Smart Tires
- 18.104.22.168 3D Printed Tires
- 22.214.171.124 Run-Flat Tires
- 126.96.36.199 Contisense and Contiadapt by Continental
- 188.8.131.52 Noise Cancelling System by Pirelli
- 6.5 REVENUE SHIFT & NEW REVENUE POCKETS FOR TIRE MANUFACTURERS
- 6.6 AUTOMOTIVE TIRE MARKET, SCENARIOS (2019-2025)
- 6.6.1 AUTOMOTIVE TIRE MARKET, MOST LIKELY SCENARIO
- 6.6.2 UTOMOTIVE TIRE OE MARKET, OPTIMISTIC SCENARIO
- 6.6.3 AUTOMOTIVE TIRE OE MARKET, PESSIMISTIC SCENARIO
- 6.7 IMPACT OF COVID-19 ON AUTOMOTIVE TIRE MARKET
7 AUTOMOTIVE TIRE AFTERMARKET, BY SECTION WIDTH & VEHICLE TYPE
- 7.1 INTRODUCTION
- 7.2 RESEARCH METHODOLOGY
- 7.2.1 ASSUMPTIONS
- 7.2.2 INDUSTRY INSIGHTS
- 7.3 <200 MM
- 7.4 200-230 MM
- 7.5 >230 MM
8 AUTOMOTIVE TIRE AFTERMARKET, BY ASPECT RATIO & VEHICLE TYPE
- 8.1 INTRODUCTION
- 8.2 RESEARCH METHODOLOGY
- 8.2.1 ASSUMPTIONS
- 8.2.2 INDUSTRY INSIGHTS
- 8.3 <60
- 8.4 60-70
- 8.5 >70
9 AUTOMOTIVE TIRE AFTERMARKET, BY RIM SIZE & VEHICLE TYPE
- 9.1 INTRODUCTION
- 9.2 RESEARCH METHODOLOGY
- 9.2.1 ASSUMPTIONS
- 9.2.2 INDUSTRY INSIGHTS
- 9.3 13"-15"
- 9.4 16"-18"
- 9.5 19"-21"
- 9.6 21"-26"
10 AUTOMOTIVE TIRE AFTERMARKET, BY SEASON
- 10.1 INTRODUCTION
- 10.2 RESEARCH METHODOLOGY
- 10.2.1 ASSUMPTIONS
- 10.2.2 INDUSTRY INSIGHTS
- 10.3 SUMMER TIRES
- 10.4 WINTER TIRES
- 10.4.1 STUDDED TIRES
- 10.4.2 NON-STUDDED TIRES
- 10.5 ALL-SEASON TIRES
11 AUTOMOTIVE TIRE AFTERMARKET, BY VEHICLE TYPE
- 11.1 INTRODUCTION
- 11.2 RESEARCH METHODOLOGY
- 11.2.1 ASSUMPTIONS
- 11.2.2 INDUSTRY INSIGHTS
- 11.3 PASSENGER CAR
- 11.4 LIGHT COMMERCIAL VEHICLE
- 11.5 HEAVY COMMERCIAL VEHICLE
12 AUTOMOTIVE TIRE RETREADING MARKET, BY VEHICLE TYPE
- 12.1 INTRODUCTION
- 12.2 RESEARCH METHODOLOGY
- 12.2.1 ASSUMPTIONS
- 12.2.2 INDUSTRY INSIGHTS
- 12.3 PASSENGER CAR
- 12.4 LIGHT COMMERCIAL VEHICLE
- 12.5 HEAVY COMMERCIAL VEHICLE
13 AUTOMOTIVE TIRE OE MARKET, BY VEHICLE TYPE AND RIM SIZE
- 13.1 INTRODUCTION
- 13.2 RESEARCH METHODOLOGY
- 13.2.1 ASSUMPTIONS
- 13.2.2 INDUSTRY INSIGHTS
- 13.3 PASSENGER CAR
- 13.3.1 13"-15"
- 13.3.2 16"-18"
- 13.3.3 19"-21"
- 13.3.4 >21"
- 13.4 LIGHT COMMERCIAL VEHICLES
- 13.4.1 13"-15"
- 13.4.2 16"-18"
- 13.4.3 19"-21"
- 13.4.4 >21"
- 13.5 BUS
- 13.5.1 16"-18"
- 13.5.2 19"-21"
- 13.5.3 >21"
- 13.6 TRUCK
- 13.6.1 16"-18"
- 13.6.2 19"-21"
- 13.6.3 >21"
14 AUTOMOTIVE TIRE OE MARKET, BY TYPE
- 14.1 INTRODUCTION
- 14.2 RESEARCH METHODOLOGY
- 14.2.1 ASSUMPTIONS
- 14.2.2 INDUSTRY INSIGHTS
- 14.3 RADIAL TIRES
- 14.3.1 TUBE TIRES
- 14.3.2 TUBELESS TIRES
- 14.4 BIAS TIRES
15 AUTOMOTIVE TIRE OE MARKET, BY REGION
- 15.1 INTRODUCTION
- 15.1.1 RESEARCH METHODOLOGY
- 15.1.2 ASSUMPTIONS
- 15.2 ASIA PACIFIC
- 15.2.1 CHINA
- 184.108.40.206 Increasing production of passenger cars is driving the growth of tires market
- 15.2.2 INDIA
- 220.127.116.11 Relatively less penetration of premium vehicles can impact the demand for high-performance tires in India
- 15.2.3 JAPAN
- 18.104.22.168 High demand for premium vehicles is likely to boost the demand for large rim size tires in Japan
- 15.2.4 SOUTH KOREA
- 22.214.171.124 Automotive tire OE market in Korea is largely driven by passenger cars
- 15.2.5 THAILAND
- 126.96.36.199 High production of pickup trucks in Thailand is estimated to drive the market for tires
- 15.2.6 REST OF ASIA PACIFIC
- 15.3 NORTH AMERICA
- 15.3.1 CANADA
- 188.8.131.52 Decreased production of passenger cars can impact tire market
- 15.3.2 MEXICO
- 184.108.40.206 Increase in demand for large pickup trucks and small cars is likely to boost the tire market in Mexico
- 15.3.3 US
- 220.127.116.11 Increasing number of CUVs is likely to drive the tire market
- 15.4 EUROPE
- 15.4.1 GERMANY
- 18.104.22.168 Tire demand in Germany for bus is anticipated to grow at a fast rate
- 15.4.2 FRANCE
- 22.214.171.124 Increasing demand for subcompact cars is likely to boost the tire market
- 15.4.3 UK
- 126.96.36.199 Passenger car segment accounts for 83% of tire market share
- 15.4.4 SPAIN
- 188.8.131.52 Passenger car and truck are the fastest growing segments of tire market in Spain
- 15.4.5 RUSSIA
- 184.108.40.206 Buses and trucks are growing at a fast rate despite less market share
- 15.4.6 ITALY
- 220.127.116.11 Passenger car tire market is likely to decrease with slight decrease in production
- 15.4.7 TURKEY
- 18.104.22.168 Trucks are likely to drive the automotive tire market in Turkey
- 15.4.8 REST OF EUROPE
- 15.5 LATIN AMERICA
- 15.5.1 BRAZIL
- 22.214.171.124 Bus segment with less market share is likely to grow at significant rate
- 15.5.2 ARGENTINA
- 126.96.36.199 Less production of vehicles leads to limited demand for tires
- 15.5.3 REST OF LATIN AMERICA
- 15.6 MIDDLE EAST AND AFRICA
- 15.6.1 SOUTH AFRICA
- 188.8.131.52 Bus segment with less market share is likely to grow at significant rate
- 15.6.2 IRAN
- 184.108.40.206 Light commercial vehicles are likely to drive the automotive tire market in Iran
- 15.6.3 REST OF MIDDLE EAST AND AFRICA
16 COMPETITIVE LANDSCAPE
- 16.1 OVERVIEW
- 16.2 MARKET RANKING ANALYSIS - KEY TIRE MANUFACTURERS, 2018
- 16.3 MARKET COMPETITIVE LEADERSHIP MAPPING
- 16.3.1 TERMINOLOGY
- 16.3.2 VISIONARY LEADERS
- 16.3.3 INNOVATORS
- 16.3.4 DYNAMIC DIFFERENTIATORS
- 16.3.5 EMERGING COMPANIES
- 16.4 COMPANY-WISE PRODUCT OFFERING ANALYSIS
- 16.5 COMPANY-WISE BUSINESS STRATEGY ANALYSIS
- 16.6 WINNERS VS. LOSERS
- 16.6.1 WINNERS
- 16.6.2 TAIL-ENDERS/LOSERS
- 16.7 COMPETITIVE SCENARIO
- 16.7.1 NEW PRODUCT DEVELOPMENTS/LAUNCHES
- 16.7.2 EXPANSION, 2018-2019
- 16.7.3 ACQUISITION/JOINT VENTURE
- 16.7.4 PARTNERSHIPS/CONTRACTS, 2017-2018
- 16.8 RIGHT TO WIN
17 COMPANY PROFILES
- 17.1 BRIDGESTONE CORPORATION
(Business Overview, Roducts Offered, Recent Developments, SWOT Analysis, and MNM View)*
- 17.2 CONTINENTAL AG
- 17.3 GOODYEAR TIRE & RUBBER COMPANY
- 17.4 MICHELIN
- 17.5 PIRELLI & C. S.P.A
- 17.6 SUMITOMO RUBBER INDUSTRIES LTD.
- 17.7 HANKOOK TIRE
- 17.8 YOKOHAMA RUBBER CO. LTD.
- 17.9 COOPER TIRE & RUBBER COMPANY
- 17.10 TOYO TIRE CORPORATION
- 17.11 ADDITIONAL COMPANIES
- 17.11.1 NORTH AMERICA
- 220.127.116.11 TITAN INTERNATIONAL INC.
- 17.11.2 EUROPE
- 18.104.22.168 CODA DEVELOPMENT
- 22.214.171.124 DUNLOP
- 17.11.3 ASIA OCEANIA
- 126.96.36.199 KUMHO TIRE
- 188.8.131.52 NOKIAN TYRES PLC
- 184.108.40.206 APOLLO TYRES LTD.
- 220.127.116.11 MRF LTD.
- 18.104.22.168 JK TYRE & INDUSTRIES LTD.
- 22.214.171.124 CEAT LTD.
- 126.96.36.199 NEXEN TIRE CORPORATION
Details on Business Overview, Roducts Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies.
- 18.1 INSIGHTS OF INDUSTRY EXPERTS
- 18.2 DISCUSSION GUIDE
- 18.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 18.4 AVAILABLE CUSTOMIZATIONS
- 18.4.1 ADDITIONAL COMPANY PROFILES (BUSINESS OVERVIEW, SWOT ANALYSIS, RECENT DEVELOPMENTS, AND MNM VIEW)
- 18.4.2 AUTOMOTIVE TIRE AFTERMARKET, BY VEHICLE TYPE (COUNTRY LEVEL)
- 188.8.131.52 Passenger Car
- 184.108.40.206 Light Commercial vehicle
- 220.127.116.11 Heavy Commercial vehicle
- 18.4.3 AUTOMOTIVE TIRE OE MARKET, BY SEASON
- 18.104.22.168 Summer
- 22.214.171.124 Winter
- 126.96.36.199.1 Studded
- 188.8.131.52.2 Non-studded
- 184.108.40.206 All-season
- 18.4.4 AUTOMOTIVE TIRE OE MARKET, BY SECTION WIDTH
- 220.127.116.11 <200MM
- 18.104.22.168 200-230MM
- 22.214.171.124 >230MM
- 18.4.5 AUTOMOTIVE TIRE OE MARKET, BY ASPECT RATIO
- 126.96.36.199 <60
- 188.8.131.52 60-70
- 184.108.40.206 >70
- 18.4.6 AUTOMOTIVE TIRE OE MARKET, BY MATERIAL AND REGION
- 220.127.116.11 Polymers
- 18.104.22.168 Fillers
- 22.214.171.124 Softeners
- 126.96.36.199 Curatives
- 188.8.131.52 Others
- 18.4.7 AUTOMOTIVE TIRE RETREADING MARKET, BY RETREAD PROCESS (COMMERCIAL VEHICLE)
- 184.108.40.206 Mold Cure
- 220.127.116.11 Pre-Cure
- 18.5 RELATED REPORTS
- 18.6 AUTHOR DETAILS