DUBLIN--July 13, 2012: Research and Markets (Research and Markets) has announced the addition of the "Global Automotive Tire Industry 2012-2017: Trends, Profits and Forecast Analysis" report to their offering.
“Global Automotive Tire Industry 2012-2017: Trends, Profits and Forecast Analysis”
The global automotive tire industry holds significant opportunities for industry players due to strong demand for replacement tires and increasing sales of passenger and commercial vehicles in developing countries. The market is forecast to reach an estimated US $187 billion in 2017 with a CAGR of 4% over the next five years (2012-2017).
Lucintel, a leading global management consulting and market research firm, has analyzed the global automotive tire market and presents its findings in Global Automotive Tire Industry 2012-2017: Trend, Profit and Forecast Analysis.
Lucintel's research indicates that although volatile raw material prices and higher dependency of the suppliers on the OEMs are market challenges, the increasing per capita income in developing nations, population growth, new infrastructural projects, urbanization, increase in middle class population, and the green movement all are expected to drive growth in the industry.
In the global automotive tire industry, the passenger car segment is forecast to see the highest growth over the next five years. Regionally, APAC is anticipated to experience lead growth during the forecast period. APAC is expected to attain the strongest growth in rubber demand through 2012, reflecting strength in China, India, Thailand and Vietnam.
The global automotive tire market is highly consolidated and consists of passenger car tires, heavy truck ties, and others segments. North America dominates this market with approximately 30% of the global total. In 2011, Europe emerged as the highest potential market followed by APAC and North America. Competition in the global automotive tire industry is high. A combination of factors such as vehicle sales, government regulations, and environmental factors impacts market dynamics significantly.
This research report from Lucintel is a cost-effective tool that presents key aspects and provides and overview of the automotive tire industry. The report tracks three market segments for four regions, NA, Europe, APAC, and ROW.
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