Rapid changes are taking place in tire and auto industries as well as in the markets in which they operate. The changes are attributed to factors including globalization, economic cycles, fluctuation in raw material costs, and variations in automobile demand, among others. Global OEM market for tires is projected to grow at a compounded annual rate of nearly 3.1%.
San Jose, CA (PRWEB) March 18, 2008 -- Global tire market is projected to grow at a compounded annual rate of over 3.0%. Europe represents the largest market accounting for a share of 29.5% of the global tire market. OEM tire shipments, estimated at 415 million units, account for 28.5% of the global tire market. Asia-Pacific represents the fastest growing OEM tires market, registering a CAGR of 6.85% over the period 2001-2010. OEM shipments for passenger car tires are expected to be over 293 million units in 2010. Global market for light trucks replacement tires is expected to reach 188 million units in 2010. Replacement tire shipments in Europe are estimated at 309 million units for 2007.
Key players listed in the report include Bridgestone Corporation, Bridgestone Americas Holding, Inc., Continental AG, Cooper Tire & Rubber Company, Goodyear Tire & Rubber, Hankook Tire Co., Ltd., Kumho Tires Co. Inc., Michelin, Nokian Tyres plc, Pt Gajah Tunggal Tbk, Pirelli SpA, Sumitomo Rubber Industries, Toyo Tire and Rubber Co., Ltd., and Yokohama Rubber Co., Ltd.
"Tires: A Global Strategic Business Report" published by Global Industry Analysts, Inc., analyzes the global market with hard-to-find data and analytics for key regional markets such as the United States, Europe and Asia-Pacific, alongside up and coming markets such as Latin America and Middle East & Africa. The report provides a comprehensive review of market trends and issues, drivers, business profile, players, competitive landscape, recent developments, mergers, acquisitions, alliances, product launches and other strategic industry activities. Analytical estimates and projections are presented in terms of annual shipments in units for OEM and Replacement product categories over the years 2001 through 2015. Historic data is also provided for an insight into market evolution over the period 1991-2000. Product groups/segments independently analyzed include Passenger Car Tires, Truck Tires (Light Truck Tires and Heavy/Medium Truck Tires), Two Wheelers Tires, Aircraft Tires and Off-the-Road Vehicle Tires (Industrial & Utility Vehicle Tires and Farm Implement Tires).
For more details about this research report, please visit
http://www.strategyr.com/Tires_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
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