DUBLIN--June 28, 2012: Research and Markets: Research and Markets
has announced the addition of the "Light Vehicle Tire Aftermarket in the US 2011-2015" report to their offering.“Light Vehicle Tire Aftermarket in the US 2011-2015”
One of the key factors contributing to this market growth is the increasing demand for high-performance tires. The Light Vehicle Tire Aftermarket in the US has also been witnessing the demand for lower cost tires. However, the emerging threat from stringent environment regulations could pose a challenge to the growth of this market.
Key vendors dominating this market space include Bridgestone Corp., Cooper Tire and Rubber Co. Michelin SCA, The Goodyear Tire and Rubber Co. Other vendors mentioned in the report: Pirelli Tire, and Continental Corp., Accuride Corp., TBC Corp., The General Tire and Rubber Co., Yokohama Tire Corp., Hankook Tire Co. Ltd., Toyo Tire U.S.A. Corp., Falken Tire Corp., Kumho Tires Co. Inc.
Commenting on the report, an analyst from TechNavio's Automotive team said; The Light Vehicle Tire aftermarket in the US continues to undergo consolidation as a means of enhancing competitiveness. Slow market growth and declining profit margins have increased the need for higher volume production and broader product portfolios. Thus, the Light Vehicle Tire aftermarket in the US is expected to witness consolidation in the near future.
According to the report, the Light Vehicle Tire aftermarket in the US is witnessing growing demand for good-quality, high-performance tires. As a result of the increasing number of vehicles on the road and lack of public transportation, the usage of personal vehicles has increased, consequently pushing the demand for automotive parts and accessories. The maintenance and servicing of older vehicles also contributes to the demand for good-quality tires. Furthermore, aggressive driving habits lead to faster wearing out of tires, which drives the aftermarket. All these factors contribute to the growth of the Light Vehicle Tire aftermarket in the US.
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