The aftermarket can anticipate to witnessing the automotive tubeless tire segments continue with steady and evolutionary growth in coming years.
Global automotive tubeless tire market is expected to expand at a compound annual growth rate (CAGR) of 6.2% over the forecast period i.e. 2016-2024. Moreover, global demand for tires is estimate to upsurge 4.3% per year to 3.1 billion units in 2018.
Market Landscape
Major factors such as optimistic growth in automotive industry, expanding sales of passenger vehicles and growing research and development activities within the tire industry have positively impact on the growth of automotive tubeless tires market. Replacement volumes of tires account globally for about 70% of the passenger tire market and 85% of the commercial vehicle market. Growth in the automotive tire market will continue to be driven by the developing countries in the Asia/Pacific region, particularly China and India.Accommodated by an estimated 230 large and small tire manufacturers, the Chinese automotive tire industry has amazed the global tire industry with its unparalleled growth. Within the rapidly growing Chinese automobile market, the global automotive tire giants have positioned production bases in China and further amplified investment in expansion in the last two years.
Vigorous research and development activities in rubber technology and innovative machinery involved in the manufacturing of automotive tubeless tires further upsurge the cost of final product which is likely to limit the growth of automotive tubeless tire market across the globe. Moreover, rising market competition in automotive tubeless tire industry on the back of presence of well-established global players is also a major challenge for the new entrants.
“Global Automotive Tubeless Tire Market Outlook, 2016-2024” covers the present ground scenario and future opportunity prospects for the market players to analyze the target markets across the globe. Moreover, competitive analysis includes the in-depth analysis of the major players and leaders in tubeless tire industry. The market study conducted on the basis of primary as well as secondary research where the analysts fragment the data from various databases such as Bloomberg, Factiva, Owler and others. Our primary research team conducted various interviews, surveys and group discussions of industry professionals, electric vehicle manufacturers, aftermarket vendors and component suppliers to analyze the future prospects of the overall automotive tubeless tire industry.
Global Automotive Tubeless Tire Segmentation can be classified on the basis of:-
- By Tire Type
- Radial Tubeless Tire
- Bias Tubeless Tire
- By Vehicle Type
- Passenger Car
- Commercial Vehicles
- Others
- By Distribution Channel
- Original Equipment manufacturer (OEMs)
- Aftermarket
- By Region
- North America Tubeless Tire Market (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
- Latin America Tubeless Tire Market (Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
- Europe Tubeless Tire Market (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
- Asia-Pacific Tubeless Tire Market (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
- Middle East and Africa (MEA) Tubeless Tire Market {Market Size, Growth Analysis and Opportunity Analysis}
Market Trends, Drivers and Challenges
Raw material cost forms the largest cost head in the tubeless tire industry accounting for about 65-70% of the total value. The key raw materials used to manufacture tires are natural rubber, poly butadiene rubber (PBR), styrene butadiene rubber (SBR) and nylon tire cord fabric. However, the value of rubber is disposed to to fluctuations and in 2016-17, international rubber prices amplified by about 28% after falling by 24% and 15% y-o-y for two consecutive years. Over the past couple of years, the trend in automotive tire production and supply for OEM market has been in line with the automobile sales for the period. Production of automotive tubeless tires has been about 1.5 times that of automobiles produced. While the demand from replacement market has relatively been higher the automotive tubeless tire sales are expected to grow in the range of 10-11% of CAGR over the forecast period in developing countries.
“Global Automotive Tubeless Tire Market Report” has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the market space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global automotive tubeless tire market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
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