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Global automotive tires market: 1 billion unit sales expected during 2013

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Global Automotive Tires Market 2013-2023 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-22 09:51:01
The global automotive tire market is a fast moving and capital intensive industry. The global automotive tire market will achieve sales surpassing 1 billion tires in 2013. The market has two fundamental sectors: the original equipment manufacturer (OEM) market i.e. tires fitted to new vehicles by manufacturers and the aftermarket for replacement tires that consumers choose.

The aftermarket has moved in two directions with imports of cheap Chinese tires taking the place over the last five years of eastern European tyres. In addition the top of the market has seen a change with more high performance tires fitted to ´standard´ cars and an increasing growth in premium and larger sized tires.

Ultra high performance tires are going to continue to grow in market size as everyday cars are coming now with higher speed-rated tires, which are categorized as ultra high performance (UHP).

New segments of cars, which in turn drives tire sales, such as the growth of crossover utility vehicle (or CUVs as they are often abbreviated to). A CUV: crossover utility vehicle is a vehicle built on a car platform and combining, in highly variable degrees, features of a sport utility vehicle (SUV) with features from a passenger vehicle, especially those of an estate car or hatchback.

The CUV will dramatically change the type of car, and in turn the type of tire, chosen by consumers worldwide. More and more manufacturers have seen this trend and have brought out models to compete with the established models such as the Range Rover Evoque, Nissan Qashqai and Dacia Duster.

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Mike King
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