Global Tires Industry

Global Tires Industry

  • March 2020 •
  • 618 pages •
  • Report ID: 5379599 •
  • Format: PDF
Tires market worldwide is projected to grow by  731.6 Million Units, driven by a compounded growth of 4.6%. Radial, one of the segments analyzed and sized in this study, displays the potential to grow at over 4.7%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over  2.2 Billion Units by the year 2025, Radial will bring in healthy gains adding significant momentum to global growth.

- Representing the developed world, the United States will maintain a 3.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over   34.9 Million Units to the region’s size and clout in the next 5 to 6 years.  Over  35.4 Million Units worth of projected demand in the region will come from Rest of Europe markets. In Japan, Radial will reach a market size of  117.5 Million Units by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 6.1% over the next couple of years and add approximately  208.3 Million Units in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

- Competitors identified in this market include, among others,
  • Apollo Tyres Ltd.
  • Avon Tyres
  • Bridgestone Corporation
  • CEAT
  • Cheng Shin Rubber Ind. Co. Ltd.
  • Continental AG
  • Cooper Tire & Rubber Company
  • Giti Tire Pte. Ltd.
  • Goodyear Tire & Rubber Company
  • Hankook Tire Co., Ltd.
  • JK Tyre & Industries Ltd.
  • Kumho Tire Co., Inc.
  • Maxxis International
  • Michelin
  • MITAS A.S.
  • MRF
  • Nexen Tire Corporation
  • Nokian Tyres Oyj
  • Pirelli & C. S.p.A.
  • Shandong Linglong Tire Co., Ltd.
  • Sumitomo Rubber Industries, Ltd
  • Techking Tires Ltd.
  • Titan International, Inc.
  • Toyo Tire & Rubber Co., Ltd.
  • Trelleborg Wheel Systems Americas, Inc.
  • Yokohama Rubber Co., Ltd.
  • Zhongce Rubber Group Co., Ltd.