Video Exclusives


Michelin Vision concept

Sentury

This forward-looking concept is made from bio-sourced, biodegradable materials, using 3D printing.

Click here to watch the video


Advanced driving simulator

Sentury

The new VDS developed by McLaren Applied Technologies and MTS Systems Corporation can accommodate mechanical HIL technology, which offers the potential for real-time integration of difficult-to-model hardware – such as tires – directly into simulations

Click here to watch the video


The Jaguar XJ220 legend lives on

Sentury

Experts at Bridgestone and Don Law reveal more on the development regime behind the new bespoke XJ220 rubber

Click here to watch the video


Web Exclusive Articles

« back to listing

Data directory: Replacement tire market witnesses growth

Technavio assesses key factors affecting growth in the replacement tire market including falling rubber prices and increased vehicle sales, particularly in Asia

 

Tires are one of the most-replaced components of a vehicle, due to high wear and tear. The replacement tire market consists of players that provide the following solutions: OEM replacements and aftermarket replacements. The global replacement tire market is witnessing continuous growth in both areas. Analysts from global technology research and advisory company Technavio expect the market to increase by 372 million units by 2020, growing at a CAGR of 7.24%.

There are several key factors driving this growth in the global automotive replacement tire market, including falling rubber prices, decreasing gasoline prices, and a boost in automotive sales, especially in Asia. APAC was the most dominant region in 2015 with 55% of the total automotive replacement tire market, followed by the Americas with 27%, and EMEA with 18%.

The Asia-Oceanic region is dominated by countries like China, India and Japan, where the automotive industry is growing at a rapid rate when compared with mature markets such as the USA and Western Europe. The increasing number of foreign brand vehicle manufacturing plants and facilities in the Asia-Oceanic region – which is due to low production costs, increasing production capacity, and the growing demand for light and heavy vehicles – is driving the market for automotive replacement tires in these countries.
 

The global passenger car market is expected to reach 84 million units by 2020, with high volume demand from developing countries in Asia, including Vietnam, Thailand and Indonesia in addition to China, India and Japan. In 2015, passenger car sales recorded 70 million units, mainly driven by APAC countries, showing a healthy growth rate of over 5%.

The automotive tire replacement market is fragmented with numerous players, offering a variety of shapes and sizes to the customers. It is already witnessing huge demand as increasing sales of passenger cars are driven by emerging economies and the popularity of high-performance tires is on the rise. The key vendors include Bridgestone, Michelin, Continental and Goodyear.

July 28, 2016

 

Read Latest Issue

Read Latest Issue

Read Latest Issue

Web Exclusives

Goodyear to supply British Truck Racing Championship
Challenges tackled in truck race tire development could lead to the creation of advanced new road tire technologies
Read Now

Interview: Terry Gettys, executive VP of R&D, Michelin Group
The executive VP of R&D on how supplier collaborations are enhancing materials development and why confidentiality is important for business
Read Now

Original equipment development at Giti
Giti experts reveal how the company works in close collaboration with vehicle OEMs to develop bespoke original equipment rubber
Read Now

Conference interview: Mika Lahtinen, Nynas
The Nynas senior advisor and former Nokian Tyres winter tire expert reveals how environmental legislation has impacted on the production of popular tire oils
Read Now

Yokohama unveils iceGuard iG65
Extensive simulation has enabled the development of a special pin shape for improved on-ice performance
Read Now


Supplier Spotlight

Supplier SpotlightWe are building a list of leading suppliers covering all aspects of the tire industry. Want to see your company included? Contact olivia.campbell@ukimediaevents.com for more details.

فروشگاه اینترنتی فروشگاه اینترنتی سیستم همکاری در فروش کانال تلگرام چت روم دانلود فیلم فروشگظ;ه اینترنتی

Submit your industry opinion

Industry BlogDo you have an opinion you'd like to share with the tire technology community? We'd like to hear your views and opinions on the leading issues shaping the industry. Share your comments by sending up to 500 words to rachel.evans@ukimediaevents.com

Submit Your Recruitment Ad

Recruitment AdTo send us your recruitment advertising or to receive information on placing a banner please email olivia.campbell@ukimediaevents.com