Global Pneumatic Tire Market Size, Share - Industry Trend and Forecast 2016 - 2024
Latest
industry research report on: Global Pneumatic Tire Market | Industry
Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
Global Pneumatic Tire
Market: Overview
The global market for pneumatic
tires is expected to surge exponentially between 2016 and 2024 due to
the rising demand from the automotive industry. The market is
anticipated to expand significantly owing to the increasing vehicle
production in countries such as India, Indonesia, Mexico, China,
South Korea, Japan, Germany, and the U.S.
Pneumatic tires exhibit
significant advancement over conventional tires used in automobiles.
The former offer improved performance in terms of better traction,
fuel economy, and efficiency, which subsequently fuels their demand
in the automotive industry. The report on the global pneumatic tire
market aims to evaluate the key factors propelling the market. It
also presents insights into the various restraints that the market
may face in the near future.
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The
global market for pneumatic tires is broadly classified on the basis
of sale type, product type, vehicle type, and geography. Based on
type of sale, the market has been segmented into (original equipment
manufacturer) OEM and replacement. Of these, the replacement segment
accounted for a major share in the market.
The
report presents a holistic overview of the market, covering details
regarding the most lucrative market segments. It is compiled with
exhaustive information, interspersed with relevant graphs,
statistics, and infographics to assist market players in determining
strategies for future.
Global
Pneumatic Tire Market: Key Opportunities and Threats
Despite
witnessing impressive growth opportunities, stringent regulations
governing the use and disposal of pneumatic tires threaten the growth
prospects of the market. For instance, the U.S. Centers for Disease
Control and Prevention has recommended to remove discarded tires from
housing properties to stop them from becoming breeding grounds for
mosquitoes. Additionally, the Environmental Protection Agency (EPA)
in the U.S. has classified tires as municipal solid waste in place of
hazardous waste.
The
market for pneumatic tires is also facing threats from substitutes
such as semi- and airless pneumatic tires that are filled with
compressed polymers and provide less suspension and high rolling
resistance. However, to the advantage of pneumatic tires, their
substitutes generate high heat while driving and also increase the
vehicle’s wheel weight. Hence, vehicle manufacturers around the
world are recommending the use of pneumatic tires compared to their
substitutes, which subsequently will augment the market’s growth
during the forecast period.
Global
Pneumatic Tire Market: Region-wise Outlook
Regionally,
Asia Pacific dominates the global pneumatic tires market owing to the
sizeable automotive production and demand in India and China. Robust
economic growth, increasing government spending, improvements in road
infrastructure, and paradigm shift in consumer preferences toward
personal vehicles are the primary factors boosting the demand for
pneumatic tires in Asia Pacific. The regional market is estimated to
benefit from the increasing associations between the key market
participants and local entrepreneurs. This trend is likely to
continue during the forecast period.
Other
regional markets of the global pneumatic tire market are North
America, Europe, and Rest of the World. Among these regions, the
pneumatic tire market in North America is anticipated to witness
significant rise in CAGR between 2016 and 2024 driven by the strong
demand for four-wheeled vehicles.
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Global Pneumatic Tire
Market: Competitive Insight
In order to present an in-depth
analysis on the prevailing competitive landscape, the report profiles
companies such as Michelin, Bridgestone Corporation, Continental AG,
Pirelli & C.S.p.A., and Cooper Tire & Rubber Company. The
most prominent manufacturers primarily focus on launching new
products to gain traction in the market.
This research report analyzes
this market on the basis of its market segments, major geographies,
and current market trends. Geographies analyzed under this research
report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
This report provides
comprehensive analysis of
Market growth drivers
Factors limiting market
growth
Current market trends
Market structure
Market projections for
upcoming years
This report is a complete study
of current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It
includes analysis of recent developments in technology, Porter’s
five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with
detailed value chain analysis.
Reasons for Buying this
Report
This report provides
pin-point analysis for changing competitive dynamics
It provides a forward
looking perspective on different factors driving or restraining
market growth
It provides a six-year
forecast assessed on the basis of how the market is predicted to grow
It helps in understanding
the key product segments and their future
It provides pin point
analysis of changing competition dynamics and keeps you ahead of
competitors
It helps in making informed
business decisions by having complete insights of market and by
making in-depth analysis of market segments
It provides distinctive
graphics and exemplified SWOT analysis of major market segments
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