Automotive Tyre Market 2018 Top Key Players Aeolus, Bangkok Metropolis Motor, Barez Industrial, Bridgestone, Carlisle Companies, Banteng Industrial, CEAT, Casumina, Danang Rubber, DMACK
Automotive Tyre Market is classifies on the basis of vehicle types including passenger car, light and heavy commercial vehicle. End users of product are OEM’s and Aftermarket. Based on its type they are bifurcated into bias and radial. Various applications of these tyre include cars, trucks, two wheelers, machinery in various industries, airplanes, tractors and forklifts.
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Commercial and passenger car industry will grow annually at over 10% and 9% respectively in near future. Increasing global population is expected to propel automotive tyre market. The system is used as an essential part of car to provide with strength, support and direction. Passenger and commercial car are one of the fastest growing sector of the economy. 2016 was a record breaking year for global car sales. Growing demand for high end luxury cars is anticipated to fuel automotive tyre market.
Top Key Players:-
The key players of global Automotive Tyre Market are Aeolus Co. Ltd., Bangkok Metropolis Motor Co. Ltd., Barez Industrial Group, Bridgestone Corporation, Carlisle Companies, Banteng Industrial Group, CEAT, Casumina, Danang Rubber Company and DMACK.
Asia Pacific followed by Japan and China will witness decent growth in automotive tyre market. The countries are home to many big manufacturers that include Toyota and Baolong. These are among the highly populated countries in the world that increases congestion, road traffic and triggers the two wheelers demand.
Automobile industry contributes majorly in Europe’s economy. Germany is major hub for passenger car and accounts for over 20% of total European car sector. France provides employment to over 300, 00 employees in automobile sector. It hosts companies including Renault and Bugatti, that are leading in the industry. Increasing demand for luxury car segment and commodity demand is anticipated to grow at higher speed.
North America, especially the U.S. has the oldest share in automobile sector. Ford is a U.S. based company, oldest in the automobile sector. Being an ancient company, it holds a strong position in the industry. With these companies, the region will contribute fairly in automotive tyre market.
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Restrains pertaining to automotive tyre market includes environmental challenges such as impact of climate change. Economic challenges including shortage of resources, changing customer demand, mobility, urbanization, stringent policies and ease availability of public transportation are certain factors impacting the product penetration.
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