Market Overview

Tires Market Procurement Research – Market Trends and Spend Analysis by SpendEdge

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Global procurement intelligence advisory firm, SpendEdge,
has announced the release of their ‘Tires
Market Procurement Research Report
.
' The insights and data in
this report provide a strategic analysis of the supply markets, factors
influencing purchasing decisions, procurement best practices, pricing
models, supplier landscape, and an analysis of the supplier capability
matrix for the components
and spares industry
. This report breaks down the data and
analysis behind the procurement of tires and acts as an all-inclusive
guide for making smart purchasing decisions.

This press release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20180104005689/en/

Global Tires Procurement Market Intelligence Report (Graphic: Business Wire)

Global Tires Procurement Market Intelligence Report (Graphic: Business Wire)

"The global demand for tires is expected to increase due to the
growing passenger vehicle sales in developing countries and the rise in
specialty vehicle sales across different industrial segments such as
agricultural and mining sectors," says SpendEdge procurement analyst
Tridib Bora. "Also, suppliers are increasingly investing in R&D to build
tires that can provide value to their buyers by improving fuel
efficiency and performance of their vehicles," added Tridib.

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Procurement analysts at SpendEdge highlight the following top three
market trends that are contributing to the growth of the Global Tires
Market:

  • Countries are promoting tire labeling regulations
  • Suppliers are trying to reduce rolling resistance in tires
  • Chinese government seeks a reduction in tire production through
    consolidation

This report is available at USD 1000 discount for a limited time only:
View
the report snapshot before purchasing

Countries are promoting tire labeling regulations:

Nations across various geographies are increasingly promoting tire
labeling regulations that require manufacturers to mention factors such
as wet grip rating, fuel efficiency, and external rolling noise
performance. China has adopted labeling regulations based on EU label
requirements, this only measures wet grip, fuel economy, and external
noise. Adopting this practice enables the buyers and end-users to make
informed purchasing decisions based on the labeling provided on tires.

Suppliers are trying to reduce rolling resistance in tires:

Reducing the rolling resistance of tires helps the tires to spin freely,
which will result in the vehicle using less energy while moving forward.
Suppliers across geographies are trying to maintain a balance between
low resistance and endurance, as the cost of building a tire with less
rolling resistance will be relatively higher. Using tires with
low-rolling-resistivity also helps the buyers enhance vehicles' fuel
efficiency. Moreover, with the improvements in technology, the buyers
will not have to trade-off between low-resistance and quality of ride.

Chinese government seeks a reduction in tire production through
consolidation:

China had been experiencing overcapacity in the tire sector. This
overcapacity is a result of increased number of smaller tire
manufacturers in the country, to consolidate the tire market in the
country, the government plans to introduce stringent regulations on new
tire manufacturers. Also, this will help them set high barriers for new
entrants and small manufacturers, which might enable consolidation in
the tire market in China. This helps to ensure that suppliers are
compliant with regulations prevalent in their region of operation.

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement
excellence. We are a preferred procurement market intelligence partner
for Fortune 500 firms and other leading companies across numerous
industries. Our strength lies in delivering robust, real-time
procurement market intelligence that helps sourcing and procurement
professionals make informed decisions. These innovative procurement
solutions help enterprises transform structural capabilities, improve
execution efficiency, and fast-track time to savings.

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