Tires Market for OE & Replacement Expected to Reach 30.26 Billion USD by 2021

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MarketsandMarkets Presents
Tires Market for OE Replacement worth 30.26
Billion USD by 2021
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The report "Tires Market for OE Replacement by
Rim Size (13-15,16-18,19-21,22-26 inch),
Replacement Market, Aspect Ratio (35-55, 60-70,
75-85), Section Width (lt200,200-230,gt230 mm),
Retreading Market and OHV Tires Market,
Application, and Region - Global Forecast to
2021", The tires market for Original Equipment
(OE) is projected to grow at a CAGR of 5.48 from
2016 to 2021, to reach a market size of USD 30.26
Billion by 2021. The OE market is primarily
driven by the demand for improved fuel economy,
low rolling resistance tires, eco-friendly and
smart tires, and other factors. Browse 120
market data Tables  71 Figures 234 pages and
in-depth TOC on "Tires Market. You can speak
to our analyst_at_ http//www.marketsandmarkets.com/s
peaktoanalyst.asp?id40166492
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Source MarketsandMarkets Analysis
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The tires market for Original Equipment (OE) is
projected to grow at a CAGR of 5.48 during the
forecast period, and is projected to reach USD
30.26 Billion by 2021. The key factors driving
the tires OE market are stringent fuel economy
norms leading to the demand for low rolling
resistance tires, demand for high performance
tires with aspect ratio lt60 in passenger cars and
rim size above 19 inches, and other
factors. Light Commercial Vehicle (LCV) segment
is the fastest growing market in tires retreading
globally. Retreaded tires give the same mileage
as compared to new replacement tires, at 30-50
less cost, and are supplied with same warranties
as that of new tires. For light commercial
vehicle, the manufacturing of a single tire
consumes, on an average, 26.4 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 pickup
trucks, new set of four tires cost almost double
to that of retreaded tires. A few of the leading
tire manufacturers have entered the tire
retreading business. For instance, the Goodyear
Tire and Rubber Company (U.S.) has more than
1,700 tire retreading and service centers around
the globe for commercial trucks. Hence, to cut
down the cost, the trend of tire retreading in
LCV is increasing gradually. Asia-Oceania is
estimated to be the fastest growing market in the
tires market for original equipment (OE).
Asia-Oceania has emerged as a hub for automotive
production, owing to changing consumer
preferences, increasing disposable income of the
middle class population, and cost advantages for
OEMs. Manufacturers such as BMW AG (Germany) and
Volkswagen Group (Germany) have already set up
manufacturing units in these countries. Factors
such as low production costs, availability of
economical labor, lenient emission and safety
norms, and government initiatives for FDIs, have
led to the region witnessing higher growth than
the matured markets of Europe and North America. 
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• The tire market ecosystem consists of tire
  manufacturers such as Continental AG (Germany),
  Bridgestone Corporation (Japan), The Goodyear
  Tire Rubber Company (U.S.), and Michelin
  (France). These tires are supplied to major OEMs
  in the automotive industry including Nissan
  (Japan), Tesla Motors (U.S.), Honda (Japan) and
  others.
• Target Audience
• Manufacturers of automotive tires
• Manufacturers of off-highway tires
• Raw-material manufacturers of tires/tire
  components (suppliers for tier I)
• Traders, distributors, and suppliers of tires or
  tire components or raw materials
• Regional manufacturer associations
• Aftermarket and tire retreading associations
• Automotive OEMs
• Organized and unorganized aftermarket suppliers
• Tire retreading companies
• Governments national and regional environmental
  regulatory agencies or organizations
• Stringent End-OF-Life Vehicle (ELV) regulations,
  which lead to scrapping of a vehicle at a defined
  age, are a key factor restraining the growth of
  the tires replacement market. For instance, SIAM
  (Society of Automobile Manufacturers) proposed
  that vehicles above 15 years age should get
  scrapped and owners will get incentive for
  scrapping their vehicle. 

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• Scope of the Report
• Automotive Tires OE Aftermarket, By Region
  Rim Size
• 13-15
• 16-18
• 19-21
• 22-26
• Automotive Tires Aftermarket, By Section Width
• lt200 mm
• 200-230 mm
• gt230 mm
• Automotive Tires Aftermarket, By Aspect Ratio
• 35-55
• 60-70
• 75-85

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• Automotive Tires Retreading Market, By Region
• North America
• Europe
• Asia-Oceania
• Rest of the World
• Off-highway Tires OE Market, By Region
• North America
• Europe
• Asia-Oceania
• Rest of the World
• Available Customizations
• Automotive Tires OE Market, By Type and Vehicle
  Type (Country Level)
• Radial

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