Global Vehicle Tire Market Overview:
The tyre offers a cushion between the vehicle and the road to reduce the transmission of road shocks. It also provides resistance and allow the vehicle perform its normal operations. Modern tyres are manufactured from a range of materials. The rubber is mainly synthetic to which they owe a large part of their grip capacity. The tyres transfer the horizontal and vertical forces acting on the vehicle as a result of steering, braking and driving in combination with possible road instabilities or external turbulences like aerodynamic forces due to for example cross-wind.
Growth Drivers
- Increasing Demand of High Clearance and Sport Appeal Vehicles
- Growing Penetration of Premium and Luxury Vehicles
Roadblocks
- Natural Rubber Is Weaker Than the Synthetic Version
Opportunities
- Increasing Demand of Automobiles
Challenges
- Cracks and Bulges Can Appear In Tyre from Hitting a Pothole or Curb
Competitive Landscape:
Some of the key players profiled in the report are Bridgestone Corporation (Japan), Continental AG (Germany), Michelin (France), The Goodyear Tire & Rubber Company (United States), Pirelli & C.S.p.A. (Italy), Apollo Tyres Ltd. (India), CEAT Ltd. (India), Giti Tire (Singapore), Hankook Tire (South Korea), JK Tyre & Industries Ltd. (India), Nexen Tire Corporation (South Korea), Nokian Tyres plc (Finland), Sumitomo Rubber Industries, Ltd. (Japan) and Toyo Tire & Rubber Co., Ltd. (Japan). Additionally, following companies can also be profiled that are part of our coverage like Qingdao Fullrun Tyre Corp., Ltd. (China), Kumho Tire Co., Inc. (South Korea) and China National Tire & Rubber Co., Ltd. (China). Analyst at AMA Research see Japanese and South Korea Vendors to retain maximum share of Global Vehicle Tire market by 2026. Considering Market by Rim Size, the sub-segment i.e. 12”- 17” will boost the Vehicle Tire market. Considering Market by Sales Channel, the sub-segment i.e. OEM will boost the Vehicle Tire market. Considering Market by Material, the sub-segment i.e. Natural Rubber will boost the Vehicle Tire market.
On June 14, 2019- Apollo Tyres has introduced Endumaxx brand of tyres for this segment of vehicles. As per company estimates, the light truck radial category has a potential and it is growing at a much faster pace than any other segment. and On May 29, 2019- Hankook Tire has announced it will start providing original equipment tires to the All-New 2020 Toyota Corolla, one of the best-selling cars in the United States. Kinergy GT tires demonstrates outstanding key performance in all aspects including wet, dry, and winter performance with excellent water evacuation, improved stiffness, and consistent grip. Comfort and noise reduction are also striking features.
What Can be Explored with the Vehicle Tire Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Vehicle Tire Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Vehicle Tire
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Vehicle Tire market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Vehicle Tire market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Vehicle Tyre, Suppliers of Vehicle Tyre, Wholesalers, Distributors and Retailers of Vehicle Tyre, Automobile Industry and Governmental Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.