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Global Tyre Market: By End Use: Passenger Car or Light Truck, Commercial Tyres (Trucks), Commercial Tyres (Off-Highway); By Region: North America, Europe, Asia Pacific Latin America, Middle East and Africa; Historical Supply and Demand (2014-2018); Supply and Demand Forecast (2019-2024); Regional Price Trends; Market Drivers, Opportunities and Threats; Competitive Landscape; Cost Analysis

Global Tyre Market Key Insights:

  • Segments: OEM, Replacement
  • Market Overview
  • Price Trends 2018
  • Market Analysis & Outlook 2019-2024
  • Value Chain Analysis
  • Breakup by Application
  • Competitive Landscape
  • Capacity Addition & Plant Turnarounds
  • Mergers & Acquisitions

 

Market Outlook

The global tyre market is being driven by the rising demand of tyres across the world. In 2018, the global demand for tyres reached nearly 3112 million units, growing at a CAGR of 4.4% between 2014 and 2018. It is expected to grow at an almost similar rate between 2019-2024, growing at CAGR of 4%, attaining a volume of 4014 million units by 2024.

In 2017, China was the leading tyre market accounting for almost 49% of the global tyre industry. China was followed by Europe, United States, India, and Japan as some of the significant tyre markets in the world. China’ s market is aided by its robustly growing car industry. It is one of the largest car markets increasing its share by almost 21% since 2007 and accounted for 30% of the global car industry in 2016. A strong GDP growth and a growing demand for cars in the emerging middle class along with a tax break implemented for cars with smaller engines are driving the increase in car production in China.

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The tyre industry in India is also projected to be driven by the domestic demand for automobiles. India is expected to become the third largest market for automobiles by 2021. The automobiles industry will also be one of the fastest growing industries in the country. All these factors will aid the growth of the tyre industry in India, with its demand projected to grow between 7% to 9% in the forecast period. The goods and service tax (GST), increased infrastructure activities, and a growing demand are driving the replacement tyre industry in India. The India tyre industry is also being aided by the increasing tyre exports due to a rise in demand from overseas in 2017. India accounted for more than 5% of the global tyre market in 2017.

Properties and Applications

Tyre is a thick ring of rubber that is usually inflated and placed over the outer edge or the rim of the vehicle wheel. It provides traction and allows the vehicle to travel over the road more easily. While most tyres are made of natural rubber, tyres have also started to incorporate materials like synthetic rubber, steel wires, fabric, and carbon black.

Tyres can be bifurcated into:

  • OEM 
  • Replacement

Tyres find their applications in the following automobile segments:

  • Passenger Car or Light Truck 
  • Commercial Tyres (Trucks)
  • Commercial Tyres (Off-Highway)

The EMR report analyses the tyre industry in North America, Europe, LATAM, Middle East and Africa, and Asia Pacific.

Market Analysis

The global tyre market is being driven by the expansion in the global production and sales of vehicles. Rising incomes in emerging economies will lead to an increase in the number of vehicles in use, thus, spurring the growth of the tyre industry. The growing middle class in countries undergoing industrialisation will also aid the tyre market with an increasing vehicle ownership leading to the rising demand for light-weight vehicles tyres. There has been a rise in the production of tyres due to the declining prices of rubber. The replacement tyre industry, in particular, is estimated to see healthy growth in the coming years due to higher profit margins.

Segment-wise, the global tyre market was led by the OEM (original equipment manufacturer) tyres, which accounted for more than half of the market in 2018. Globally, tyres find their maximum utility in passenger cars and light trucks. Passenger car/light trucks were followed by applications in commercial vehicles like trucks and off-highway vehicles.

The rising demand in the Asia market is projected to drive the tyre industry in the coming year. The Asia tyre industry is not just being driven by the increase in the automobile industry but also by the reduced cost of production. The reduced production costs are due to the lower labour costs and lesser natural rubber content (with more synthetic rubber content) in tyres. With rising automotive production in Latin America and Middle East regions, it is expected to witness robust growth in the two regions.

Competitive Landscape

The report gives a detailed analysis of the following key players in the global tyre market, looking into their capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions:

  • Bridgestone Corporation 
  • Groupe Michelin France
  • Goodyear Tire & Rubber Co 
  • Continental AG Germany
  • Pirelli & C.S.p.A.
  • Sumitomo Rubber Industries, Ltd.
  • The Hankook Tire group
  • Yokohama Rubber Company, Limited
  • Cheng Shin Rubber Industry Co
  • Zhongce rubber group Co. Ltd
  • Madras Rubber Factory Limited

The EMR report provides a SWOT analysis as well as an analysis of Porter’s Five Forces.

1    Preface
2    Research Methodology
3    Executive Summary

    3.1    Market Overview
    3.2    Key Demand Drivers
    3.3    Top Global Suppliers
    3.4    Supply Market Change
4    Global Tyre Market Outlook
5    Global Tyre Market
    5.1    Global Tyre Market Analysis

        5.1.1    Figure: Global Tyre Historical Market (2014-2018) & Forecast (2019-2024)
        5.1.2    Figure: Global Tyre Market Breakup by Segments: Historical Market (2014-2018) & Forecast (2019-2024)
            5.1.2.1    OEM Market
            5.1.2.2    Replacement Market
        5.1.3    Figure: Global Tyre Market Breakup by Applications: Historical Market (2014-2018) & Forecast (2019-2024)
            5.1.3.1    Passenger Car or Light Truck 
            5.1.3.2    Commercial Tyres (Trucks)
            5.1.3.3    Commercial Tyres (Off-Highway)
        5.1.4    Chart: Global Tyre Market Breakup by Region
            5.1.4.1    China
            5.1.4.2    Europe
            5.1.4.3    USA
            5.1.4.4    India
            5.1.4.5    Japan
            5.1.4.6    Brazil
            5.1.4.7    Russia
        5.1.5    Figure: Global Tyre Market Regional Overview
            5.1.5.1    China
                5.1.5.1.1    Historical Market (2014-2018) & Forecast (2019-2024)
                5.1.5.1.2    Breakup by Application (%)
                5.1.5.1.3    Key Players Market Share (%)
            5.1.5.2    Europe
                5.1.5.2.1    Historical Market (2014-2018) & Forecast (2019-2024)
                5.1.5.2.2    Breakup by Application (%)
                5.1.5.2.3    Key Players Market Share (%)
            5.1.5.3    USA
                5.1.5.3.1    Historical Market (2014-2018) & Forecast (2019-2024)
                5.1.5.3.2    Breakup by Application (%)
                5.1.5.3.3    Key Players Market Share (%)
            5.1.5.4    India
                5.1.5.4.1    Historical Market (2014-2018) & Forecast (2019-2024)
                5.1.5.4.2    Breakup by Application (%)
                5.1.5.4.3    Key Players Market Share (%)
            5.1.5.5    Japan
                5.1.5.5.1    Historical Market (2014-2018) & Forecast (2019-2024)
                5.1.5.5.2    Breakup by Application (%)
                5.1.5.5.3    Key Players Market Share (%)
            5.1.5.6    Brazil
                5.1.5.6.1    Historical Market (2014-2018) & Forecast (2019-2024)
                5.1.5.6.2    Breakup by Application (%)
                5.1.5.6.3    Key Players Market Share (%)
            5.1.5.7    Russia
                5.1.5.7.1    Historical Market (2014-2018) & Forecast (2019-2024)
                5.1.5.7.2    Breakup by Application (%)
                5.1.5.7.3    Key Players Market Share (%)
    5.2    SWOT Analysis
        5.2.1    Overview
        5.2.2    Strengths
        5.2.3    Weaknesses 
        5.2.4    Opportunities
        5.2.5    Threats
    5.3    Value Chain Analysis
    5.4    Porter’s Five Forces Analysis

        5.4.1    Overview
        5.4.2    Buyer’s Power
        5.4.3    Supplier’s Power
        5.4.4    New Entrants
        5.4.5    Degree of Rivalry
        5.4.6    Substitutes
    5.5     Global (HS Code-4011) Trade Analysis (2018)
        5.5.1    Major Exporting Countries by Value & Volume
        5.5.2    Major Importing Countries by Value & Volume
    5.6    Regional Tyre Price Analysis
        5.6.1    China Tyre Historical Price trends (2014-2018) & Forecast (2019-2024)
        5.6.2    Europe Tyre Historical Price Trends (2014-2018) & Forecast (2019 – 2024) 
        5.6.3    USA Tyre Historical Price Trends (2014-2018) & Forecast (2019 - 2024)
        5.6.4    India Tyre Historical Price Trends (2014-2018) & Forecast (2019 – 2024) 
        5.6.5    Japan Tyre Historical Price Trends (2014-2018) & Forecast (2019 – 2024) 
        5.6.6    Brazil Tyre Historical Price Trends (2014-2018) & Forecast (2019 – 2024) 
        5.6.7    Russia Tyre Historical Price Trends (2014-2018) & Forecast (2019 – 2024)
6    Manufacturing Process
    6.1    Detailed Process Flow
    6.2    Operations Involved
    6.3     Mass Balance
7    Cost Analysis
    7.1    Land, Location and Site Development
    7.2    Construction
    7.3    Plant Machinery
    7.4    Cost of Raw Material
    7.5    Packaging
    7.6    Transportation
    7.7    Utilities
    7.8    Manpower
    7.9    Other Capital Investment
8    Competitive Landscape 
    8.1    Market Structure
    8.2    Key Players Market Shares (%)
    8.3    Key Players Company Profile
        8.3.1    Bridgestone Corporation 
        8.3.2    Groupe Michelin France
        8.3.3    Goodyear Tyre & Rubber Co 
        8.3.4    Continental AG Germany
        8.3.5    Pirelli & C.S.p.A.
        8.3.6    Sumitomo Rubber Industries, Ltd.
        8.3.7    The Hankook Tyre group
        8.3.8    Yokohama Rubber Company, Limited
        8.3.9    Cheng Shin Rubber Industry Co
        8.3.10    Zhongce rubber group Co. Ltd
        8.3.11    Madras Rubber Factory Limited
9    Events and Developments

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