Pneumatic Tires Market 2019 By Regional Trend & Growth Forecast To 2025
Category: #business  By Partha Ray  Date: 2019-08-14
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Pneumatic Tires Market 2019 By Regional Trend & Growth Forecast To 2025

North America holds a substantial share in the pneumatic tires market owing to rising motor vehicle production in the region. The motor vehicle production in USA reached about 7.7 million units in 2010 which increased to 11.3 million units by 2018. Rising production of commercial vehicles in this region is another reason behind this growth. For instance, total commercial vehicles manufactured in USA accounted to be about 5 million units in 2010 which increased to more than 8 million units by 2018. The rising aircraft manufacturing activities in the U.S. has resulted in propelling the growth in commercial vehicle sector. Rapid innovation in ballistic technology and rising developments in the U.S. defense industry is likely to augment the demand for pneumatic tires in the coming years. For instance, out of the various weapons exported by U.S., major share was occupied by aircrafts followed by armored vehicles. Hence, North America would be a significant regional pneumatic tires market in the future.

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Rising production of commercial vehicles would be another growth enabler in the pneumatic tires market due to developments in the aerospace industry. The active global commercial fleet was estimated to be around 26,000 aircrafts in 2018 which is likely to increase to about 37,000 in the next ten years. Demand for defense aircrafts has also been increasing at a fast rate owing to increasing investment by governments of developed and developing countries in their defense sectors. Such rising trends would increase the demand for pneumatic tires in the forecast timeframe.

The various applications in the pneumatic tires market are passenger cars, motorcycles & bicycles, light commercial vehicles and heavy commercial vehicles. The motorcycle & bicycle segment is likely to portray a significant growth rate in the coming years due to rise in its production. The global two-wheeler sales reached more than 60 million units in 2018 which grew by 1.8% as compared to last year. This production trend was majorly driven by the Indian market. The motorcycle production in India has increased from 11 million units in 2010 to more than 20 million units in 2017-18. Such rising production would propel the demand for pneumatic tires in this segment.

Pneumatic Tires Market size would portray a rising trend in its growth from 2019 to 2025 due to increasing vehicle production in the Asia Pacific region. Global motor vehicle production in 2018 accounted for more than 95 million units. Out of this, major Asia Pacific countries like China, India, Japan, South Korea, Thailand, etc. accounted for more than 50% of this production.

Some of the major pneumatic tires market participants are Trelleborg Group, Continental AG, Camso Solideal, Hankook Tire & Technology Co., Ltd. etc.

Pneumatic Tires Market, By Product Type, 2014-2025 (USD Million)

  • Radial tyres
  • Crossply Tires (Bias Tires)

Pneumatic Tires Market, By Application, 2014-2025 (USD Million)

  • Passenger cars
  • Motorcycle & bicycle
  • Light commercial vehicles
  • Heavy commercial vehicles

The above information has been provided for the following regions and countries:

  • North America
  • Europe
  • APAC
  • Latin America
  • MEA

 

Methodology used in this report: -

our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the Pneumatic Tires Market. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc.  Primary objectives of data mining include:

  • Pneumatic Tires Market Definition and scope of research
  • Pneumatic Tires Market dynamics, growth drivers and industry pitfalls
  • Pneumatic Tires Market Regulatory and political guidelines for the industry
  • Pneumatic Tires Market Demographics and statistical data

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive Pneumatic Tires Market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:

  • Leadership figures such as CEOs, CSOs, VPs etc. in key companies
  • Supply-chain participants, distributors and domain experts
  • Pneumatic Tires Market Key customers and B2B clients

Market Insight Coverage|

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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