Super Swamper Tires Market to Garner Brimming Revenues by 2017- 2027
As the demand for SUV’s, Light Trucks’ and ATV’s increases, demand for super swamper tires is on the rise. Thus, the global super swamper tires market is expected to expand with an impressive CAGR over the forecast period.
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Super Swamper TiresMarket: Drivers & Restraints
The major factors boosting the growth of Super Swamper Tires market is rising growth in the demand for SUV’s and large vehicles. Globally, consumers in developed nations are showing high preference for more powerful and bigger vehicles, thus significantly fuelling the demand for super swamper tires. Furthermore, with moderate crude oil prices consumers are spending on these vehicles without worrying about gasoline prices and poor mileages. Moreover, as companies in SUV’s and Light Truck space are rapidly innovating and coming up with newer models, demand for these vehicles is further increasing. Thus, fuelling significant demand for super swamper tires from the OEM segment. However, as in many regions usage of these vehicles become unavoidable demand from after market segment is also on the rise.
With increasing concerns regarding fuel efficiency, and rising trends towards electric vehicles, demand for super swamper tires is expected to get a sluggish growth in the first few years of the forecast period. However, as PHEV’s SUV’s flood the market, growth in the demand for super swamper tires is expected to revive.
Super Swamper TiresMarket: Market Segmentation
The Super Swamper Tires Market is segmented on the basis of two factors, on vehicle type and sales channel:
Based on vehicle type, the Super Swamper Tires market is segmented into:
Heavy Motor Vehicles
Agricultural & Industrial Tires
Based on sales channel, the Super Swamper Tires market is segmented into:
Super Swamper Tires Market: Regional Outlook
Geographically, Super Swamper Tires market has been categorized into seven key regions including North America, Western Europe, Eastern Europe, APEJ, Japan, Latin America, and the Middle East & Africa.
North America currently dominates the global super swamper tires market, amid presence of large number of SUV’s and high preference for light trucks and ATV’s in many states. The classic American lifestyle often incorporates the usage of such vehicles, and demand from the US is expected to witness continuous growth over the forecast period. However, as Asia Pacific Exc. Japan (APEJ), is becoming a global leader in automotive production as well as consumption, demand from the region is expected to see continuous growth on the back drop of China’s and India’s ever growing disposable income, and rising preference for automotive vehicles. Many countries in Middle East and Africa (MEA) region, particularly such as Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, are prominent market for the sales for super swamper tires, amid regions high preference for powerful and bigger vehicles. The region is expected to retain its market share over the forecast period, due to lack of environmental norms regarding fuel efficiency, which is the prime restraint for growth in other markets such as Western Europe. In Western Europe, demand for super swamper tires is expected to be sluggish throughout the forecast period, amid stringent norms and high preference for fuel efficient vehicles.
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Super Swamper Tires Market: Key Players
Some of the players identified in Global Super Swamper Tires market are:-
The Goodyear Tire & Rubber Company
Interco Tire Corporation
Cheng Shin Rubber
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