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Apr 27, 2017 3:00 PM ET

Archived: -Global Tire Market to Surpass $319 Billion by 2022 – Increasing Inflow of Chinese Tire Brands Across All Major Geographies

iCrowdNewswire - Apr 27, 2017

M2 PRESSWIRE-April 27, 2017-Global Tire Market to Surpass $319 Billion by 2022 – Increasing Inflow of Chinese Tire Brands Across All Major Geographies


Dublin – Research and Markets has announced the addition of the “Global Tire Market Forecast & Opportunities, 2022” report to their offering.

The global tire market is forecast to surpass $ 319 billion by 2022 on account of anticipated rise in vehicle sales and expanding vehicle fleet, especially in Asia-Pacific region, during the forecast period. In 2016, the global tire market was also dominated by Asia-Pacific region. The region accounts for more than 60% of the tire manufacturing plants due to ample rubber production, low labor cost and favorable government policies.

Global tire market witnessed a marginal growth during 2012-16, predominantly due to prevailing effects of Eurozone Crisis and slump in the crude oil prices which impacted the global automobile industry. These factors cumulatively resulted in weak demand for tires across Europe, Africa and Middle-East, which restricted the growth of global tire market over the last five years. However, the tire market in Asia-Pacific region exhibited a steady growth during the same period. Apart from the increasing penetration of flagship tire brands such as Bridgestone, Michelin, Goodyear, Continental, Yokohama, Kumho, etc., the global tire market is witnessing increasing inflow of Chinese tire brands across all major geographies.

Demand for Chinese tires has been growing across the globe over the last five years, majorly due to lower prices of Chinese tires compared to flagship tire brands. Additionally, increasing per capita income and anticipated increase in new vehicle launches are few of the other factors expected to drive global tire demand over the next five years.

Companies Mentioned

– Bridgestone
– Michelin
– Goodyear
– Continental
– Yokohama
– Kumho

Key Topics Covered:

1. Product Overview

2. Research Methodology

3. Global Tire Market Outlook

4. Asia-Pacific Tire Market Outlook

5. Europe & CIS Tire Market Outlook

6. North America Tire Market Outlook

7. South America Tire Market Outlook

8. Middle East Tire Market Outlook

9. Africa Tire Market Outlook

For more information about this report visit http://www.researchandmarkets.com/research/rvvfwn/global_tire

Contact Information:

Research and Markets,
Laura Wood,
Senior Manager.
Fax from USA: 646-607-1907
Fax from rest of the world: +353-1-481-1716
Related Topics: Automotive Tires (http://www.researchandmarkets.com/categories.asp?cat_id=267&campaign_id=rvvfwn)

((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.m2.com on the world wide web. Inquiries to info@m2.com)).

Via iCrowdNewswire
Tags: , Wire, M2 Presswire
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