The Global Pneumatic Tire Market Demand and Sales Projections 2014 - 2020

Allied Market Research has recently published an in-depth report on the global pneumatic tire market. The projections made in the study reflect that the global industry is expected to gather revenue worth $287.5 billion by 2020. In addition, the industry would register a CAGR of 7.0% during the forecast period of 2015–2020. Expert analysts evaluate the market size and share based on the primary and secondary inputs pertinent to the industry, considering 2014 as the base year. They perform an impact analysis to project the future financial tendencies of the market with regard to the latest trends and drivers.

Access Full Summary at: https://www.alliedmarketresearch.com/pneumatic-tyre-market

The global pneumatic tire market report has been segmented based on type of sales and vehicles. Replacement tires and original equipment manufacturers are the two types of sales activities that engage the industry vendors. Among the various vehicle types covered within the scope of the study include two-wheelers, four-wheelers, aircraft, industrial vehicles, agricultural vehicles, and off-road vehicles. Experts suggest that the increase in production, as well as consumption, of vehicles around the world acts as a primary driver for the global pneumatic tire industry. Out of the different types of vehicles, the four-wheeler segment was accounted for the highest revenue in 2014. The segment is expected to maintain its lead among the others throughout the analysis period. Asia-Pacific region is observed as the largest market, followed up close by Europe. In terms of growth, the LAMEA region would emerge as the fastest growing market, registering a CAGR of 8% during 2015–2020.

As per the findings of the global pneumatic tire report, the radial tires segment accounted for 68.8% of the total market by value in 2014. The segment is expected to register a CAGR of 7.2% over the forecast period. This is primarily owing to its increased demand across Asian countries such as China, Japan, and India. The OEM tires segment is expected to experience rapid growth in near future owing to the progressive global economy and subsequent rise in automotive manufacturing. At the same time, the replacement tire segment was held accountable for 74.6% of total market revenue in 2014, and is estimated to continue its market dominance in near future. Major factors that contribute to the market growth are growing automotive sector and increased prices of the tires. In addition, consumer issues with vehicle overload, poor road maintenance, and extreme weather conditions add a considerable boost to the replacement tire market segment.

The global pneumatic tire market report highlights key consumer trends and factors that have a direct impact on the industry growth. It stresses on the technological progress in pertinent field of research and its effect on the market offerings. The introduction of radial tires revolutionized the pneumatic tires industry. At present, radial tires are designed and developed with innovative features to improve the durability and performance of vehicles. For instance, Bridgestone developed an advanced radial tire under the name Revolutionarily Reinforced Radial, which exhibits an improved tire durability. This is due to the distributive optimization of the inflation pressure.

Key findings of pneumatic tire market report

• The rapid rise of automobile demand would supplement the global pneumatic tire market growth.
• The radial tire segment accounts for highest sales volume in the pneumatic tire industry owing to its various property advantages over cross-ply tires.
• Asia-Pacific is estimated to maintain its dominance as the largest geographical contributor in terms of revenue share over the forecast period.

The global pneumatic tire market report outlines the competitive environment prevalent within the industry channels. The study provides a comprehensive discussion on the business strategies adopted by the leading players. Some of the prominent companies profiled in the report include, Michelin, Continental AG, Bridgestone Corporation, Cooper Tire & Rubber Company, The Goodyear Tire and Rubber Company, Hankook Tire Co. Ltd., The Yokohama Rubber Co. Ltd., Sumitomo Rubber Industries Ltd., Pirelli & C.S.p.A, and Kumho Tire USA, Inc.

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Direct: +1-503-894-6022
Toll Free: +1 (800) 792-5285 (U.S. & Canada)
Fax: +1 (855) 550-5975
E-mail: sales@alliedmarketresearch.com

This release was published on openPR.