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

Press Release   •   Aug 14, 2013 09:52 BST

The global automotive tire market is forecast to achieve sales of over 1 billion tires by the end of 2013. The market a fast moving and capital intensive industry. 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. Both of these are analysed within this report in detail.

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.

For more information on the Global automotive tires market, please click here: Global automotive tires market

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