Market Overview

Global Tire Market to Surpass $319 Billion by 2022 - Increasing Inflow of Chinese Tire Brands Across All Major Geographies - Research and Markets

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Research and Markets has announced the addition of the "Global
Tire Market Forecast & Opportunities, 2022"
report to their
offering.

The global tire market is forecast to surpass $ 319 billion by 2022 on
account of anticipated rise in vehicle sales and expanding vehicle
fleet, especially in Asia-Pacific region, during the forecast period. In
2016, the global tire market was also dominated by Asia-Pacific region.
The region accounts for more than 60% of the tire manufacturing plants
due to ample rubber production, low labor cost and favorable government
policies.

Global tire market witnessed a marginal growth during 2012-16,
predominantly due to prevailing effects of Eurozone Crisis and slump in
the crude oil prices which impacted the global automobile industry.
These factors cumulatively resulted in weak demand for tires across
Europe, Africa and Middle-East, which restricted the growth of global
tire market over the last five years. However, the tire market in
Asia-Pacific region exhibited a steady growth during the same period.
Apart from the increasing penetration of flagship tire brands such as
Bridgestone, Michelin, Goodyear, Continental, Yokohama, Kumho, etc., the
global tire market is witnessing increasing inflow of Chinese tire
brands across all major geographies.

Demand for Chinese tires has been growing across the globe over the last
five years, majorly due to lower prices of Chinese tires compared to
flagship tire brands. Additionally, increasing per capita income and
anticipated increase in new vehicle launches are few of the other
factors expected to drive global tire demand over the next five years.

Companies Mentioned

  • Bridgestone
  • Michelin
  • Goodyear
  • Continental
  • Yokohama
  • Kumho

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Global Tire Market Outlook

4. Asia-Pacific Tire Market Outlook

5. Europe & CIS Tire Market Outlook

6. North America Tire Market Outlook

7. South America Tire Market Outlook

8. Middle East Tire Market Outlook

9. Africa Tire Market Outlook

For more information about this report visit http://www.researchandmarkets.com/research/g2sh2p/global_tire

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