Automotive Tires Market for OE & Replacement worth $113.1 billion by 2025 - PowerPoint PPT Presentation

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Automotive Tires Market for OE & Replacement worth $113.1 billion by 2025

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Automotive Tires Market for OE & Replacement by Rim Size (13-15, 16-18, 19-21,21 inches), Replacement Market, by Aspect Ratio (70), Section Width (230 mm), Season, Vehicle Type, Retreading Market, and Region - Global Forecast to 2025 – PowerPoint PPT presentation

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Title: Automotive Tires Market for OE & Replacement worth $113.1 billion by 2025


1
MarketsandMarkets Presents

Automotive Tires Market for OE Replacement
worth 113.1 billion by 2025
https//www.marketsandmarkets.com/Market-Reports/a
utomotive-tire-market-40166492.html
2
The report "Tires Market for OE Replacement by
Rim Size (13-15, 16-18, 19-21,gt21 inches),
Replacement Market, by Aspect Ratio (lt60, 60-70,
gt70), Section Width (lt200, 200-230,gt230 mm),
Season, Vehicle Type, Retreading Market, and
Region - Global Forecast to 2025", The tires
replacement market is projected to grow at a CAGR
of 1.8 to reach a market size of USD 113.1
billion by 2025 from 101.7 billion in 2019. The
replacement market is primarily driven by the
increasing average life of vehicles and average
annual miles traveled by light-duty
vehicles. Browse 143 market data Tables and 76
Figures spread through 253 Pages and in-depth TOC
on Automotive Tires Market for OE
Replacement The automotive tires market is
dominated by a few global players and comprises
several regional players. Some of the key
manufacturers operating in the market are
Bridgestone Corporation (Japan), Continental AG
(Germany), The Goodyear Tire Rubber Company
(The U.S.), Michelin (France), and Pirelli C.
S.p.A (Italy). There are certain key innovators
gaining attention in the tires market including
CODA Development (Czech Republic), Kumho Tires
(South Korea), and Nokian Tyres (Finland).
3
Passenger cars to be the largest vehicle type in
the tires market for OE and replacement. Passeng
er car vehicle type is expected to dominate the
tires market for OE and replacement. According to
OICA, the passenger car production is estimated
to be 58.7 million units. Also, the passenger car
production is expected to account for 70 of the
total vehicle production in 2019 for select
countries. With an increase in sales and
increased average life of passenger cars, the
passenger car fleet has also risen over the
period. Based on another report from OICA, the
passenger car parc is estimated to witness slight
growth in 2019 as compared to 2018. This rise in
sales and parc of passenger cars has influenced
the demand for tires in OE as well as in the
replacement market. However, factors such as
increased average replacement life of tires with
the advancement in the technologies, and
fluctuating raw material prices may hamper the
tire demand in the aftermarket. Get The PDF
Brochure For This Report _at_ https//www.marketsandm
arkets.com/pdfdownloadNew.asp?id40166492
4
Light commercial vehicles to witness significant
growth in the tires retreading market. Retreadin
g of tires has always been a popular concept with
heavy commercial vehicles, but with time the
potential benefits of using it for light
commercial vehicles have been noticed. In a
light-duty vehicle, single tire manufacturing
consumes on an average 26 liters of oil, however
retreading of the same tire consumes only 9
liters of oil which is almost 34 of the new
manufacturing process. On the other hand,
according to Retread Tire Association, for large
SUVs, a new set of four tires cost for around USD
1,000. Almost 50 of the cost is saved by
adopting retreading for light-duty vehicles. Thus
retreading suppliers are now focusing on
light-duty vehicle retreading along with certain
tire manufacturers entering into the retreading
business, such as The Goodyear Tire Rubber
Company (U.S.) which has more than 1,700 tire
retreading and service centers for commercial
vehicles. Request FREE Sample Report _at_
https//www.marketsandmarkets.com/requestsampleNew
.asp?id40166492 Asia-Oceania to grow at the
highest CAGR during the forecast period for tires
OE and replacement market. Asia-Oceania is
estimated to dominate the tires market for OE and
replacement. The growth in Asia-Oceania is
attributed to increasing vehicle production in
Asian countries, which includes China, India,
Japan, and South Korea. Asia Pacific spearheaded
by China and India holds the lions share in the
vehicle production across the globe.
5
  • The increase in sales of the vehicles is owing to
    various factors such as increasing per capita
    income coupled with the growing demand for SUVs
    and premium segment vehicles. On the other hand,
    the tires aftermarket is driven by growth in
    automobile ownership per capita and the shifting
    demand of customers towards the use of low
    rolling resistance tires.
  • To speak to our analyst for a discussion on the
    above findings, click Speak to Analyst
  • Key questions addressed by the report
  • How the OE and Aftermarket demand varies by
    region and vehicle type?
  • What would be the demand of tire rim size by
    vehicle type and region?
  • How will tires retreading market shape up in the
    future?
  • What are the current and future tire material
    trends in the market?
  • How the penetration of season tires varies by
    region (summer, winter, and all-season)?
  • Which are the key players in the global tire
    market?

6
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https//www.marketsandmarkets.com/Market-Reports/a
utomotive-tire-market-40166492.html
7
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