A tire is a flexible, strong rubber casing attached to the rim of a wheel. They provide a gripping surface for traction and acts as a cushion for the wheels of a vehicle. Tire industry currently represents a lucrative market for the investors as it holds significant opportunities for industry players due to a strong demand for replacement tires and an increasing sales of commercial and passenger vehicles in developing countries. During 2014-2018, the global tire market grew at a CAGR of around 4%. The market is currently being driven by the exponential increase in the number of vehicles produced throughout the world. This report by Expert Market Research, entitled “Tire Market Report and Forecast 2019-2024”, provides a comprehensive analysis for anyone who plans to foray into the tire market.
Historical market trends for the global tire industry have been provided from 2014-2018 and forecasts have been presented till 2024. On a regional level, the report has segmented the global tire market into the following major countries – China, Europe, United States, Japan and India. China currently represents the largest market. On the basis of the market type, the global tire market has been segmented as OEM market and Replacement market. Based on end-use industries, the report has also segmented the global tire market into passenger cars, commercial tires for trucks and commercial tires for off-highway vehicles.
The value chain analysis of the tire industry, encompassing all the activities such as procurement, manufacturing, sales and distribution, has also been covered in this report. Furthermore, the study assesses the market based on Porter’s five forces model, which evaluates the level of competition in the market by analyzing factors such as bargaining power of buyers and suppliers, threat from substitutes and new entrants. A thorough evaluation of the competitive landscape of the tire industry has also been provided. Some of the key players in this market include Bridgestone Corporation, Groupe Michelin France, Goodyear Tire and Rubber, Continental AG Germany and Pirelli & C. SpA.
This report provides an exhaustive insight for setting-up and running a tire manufacturing plant. Factors such as land requirement, construction requirement, raw material requirement, labour requirement, machinery requirement, manufacturing process, utility requirement, total capital investment, total operating costs, prices, income projections, expenditure projections, profit margins, net present value, return on investment, payback period, etc. have been comprehensively covered in this report.
The following are the key questions answered by this report:
- What are the market trends for the global tire market?
- Which are the biggest markets (regions) for tire?
- What are the major market types of tires?
- What are the key application areas for tires?
- Who are the key manufacturers in the tire market?
- What are the land and construction requirements to start a tire manufacturing plant?
- What are the machinery requirements to start a tire manufacturing plant?
- How is tire priced? What are the profit margins at various stages of the supply chain?
- What is the total capital investment required to start a tire manufacturing plant?
- What are the running costs of a tire manufacturing plant?
- How much revenue can a tire manufacturing plant generate?
In order to prepare this research report, Expert Market Research conducted face to face and telephonic interviews with numerous industry participants in the tire industry. They included manufacturers, distributors, end users, consultants, marketing professionals, researchers, etc. Primary research accounted for the bulk of the research efforts, complemented by an extensive secondary research. Secondary sources included annual reports, press releases, books, journals, white papers, newspapers, magazines, government sources and various proprietary databases.
Expert Market Research uses its comprehensive database of macroeconomic and industry specific data to produce its market forecasts. The initial baseline forecast is produced with the most recent market data. After an initial baseline forecast, all future macroeconomic and sector-specific events and assumptions are taken into account to generate the final forecast.