We established a quick response research team to monitor the impacts of global pandemic COVID19 on this market to keep our clients informed about latest data and changing strategies. The report will incorporate these insight and data factors. ×
Market Research Report

Global Tire Replacement Market Report | 2021 Edition | 2019-2035 | COVID-19 Impact Analysis

Published Date :


Report Pages :


Format :


Region Covered :


Global Tire Replacement Market Overview

Global tire replacement market landscaping is changing and green initiatives are innovative fields with continuous advancements. Many companies are looking forward to upgrading their environmental practices for smart, sustainable products that can be made from recycled materials. Statistics shows that about 1/3 of the nation’s scrap tires are saving more than 150 million tires from the waste stream. 2.2 Billion pounds of rubber reclaimed annually and 150 Million tires are collected annually to be processed into beneficial end-use products. The latest figures by the association in 2017 indicate that 4.189 million tons of scrap tires were generated of which 3.411 million tons went to the market or were destined for a sale-a a utilization rate of 81.4 percent. Adding on to this, baled and landfill material (646,000 tonnes) the manages tire scrap reached a rate of 96.9 percent, 1736,340 tons respectively, 43 percent were used as tire-derived fuel in cement kiln, pulp and paper facilities, and industrial boilers. 1.013 million tons respectively, 25 percent got granulated for ground rubber solutions, 315,000 tons respectively 8% fulfilled civil engineering purposes and 109,000 tons, 3% exported. Scrap Tires Market size valued at over USD 435 billion in 2018 and is estimated to exhibit around 7% CAGR from 2019 to 2025. Growing sales of replacement tires through the online medium, rising tire radicalization, and burgeoning demand for Tire Pressure Monitoring System (TPMS) are some of the other factors that would positively influence the market during the forecast period.

Scrap Tire Material volume declined

Between 2009 and 2017, the percentage of scrap tire material dedicated to the market to total generated material declined from 85.3 – with an all-time height of 95.9 in 2013 – to 81.4 percent. The tire-derived fuel usage diminished from 2.085 to 1.736 million tons: The share of fuels used in cement kilns has increased from 2009 to 2017 from 604,000 to 806,000 tons and the use in utility boilers from 326,000 to 427,000 tons. But the utilization in pulp and paper mills sank from 716,000 to 503,000 tons, while the share of fuel burned in industrial boilers or dedicated to energy recovery declined to zero. And even the ground rubber market lost volume: The market distribution declined from 1.354 to 1.013 million tons. In spite of the fact, that ground rubber applications accounted for 25 percent of scrap tire usage in 2017. The number of stockpiled scrap tires that had reached one billion tons in 1990 was cleaned up by 94 percent in 2017, leaving 60 million stockpiled tires to go – mostly in Colorado and Texas.

The Federal States enacting schemes

Even if, as the Coalition underlines, “no government agency has concluded artificial turf is safe”, the federal states in Northern America started to enact schemes for supporting scrap tire treatment. 44 of 50 states have storage and disposal regulations, 36 require financial assurances for processors, and 17 demand financial assurances for haulers. 38 states allow the landfilling of cut or shredded tires, 24 allow their mono-filling, and ten allow the landfilling of whole tires. 30 states display a stockpile clean-up program, while in 23 states a stockpile clean-up program is operating. Several tire recycling grants are offered, for example in Kansas by the Bureau of Waste Management, in Nebraska backed by the Department of Environmental Quality, in Ohio by the Environmental Protection Agency and the Lorain County Community Development Department, and in California for the funding of road repair programs using recycled tires.

Global Tire Replacement Market Segmentation

By Rubber Type

  • Natural Rubber
  • Ethylene –Propylenediene Monomer Rubber
  • Styrene-Butadiene Rubber
  • Polychlororene
  • Others

By End User

  • Automotive Sector
  • Aviation Sector
  • Construction Sector

By Distribution Channel

  • Online Distribution Channel
  • Offline Distribution Channel

By Region

  • North America (U.S. & Canada) Tire Replacement {Market Share (%), Market Size(USD Billion)}
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Tire Replacement {Market Share (%), Market Size(USD Billion)}
  • Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Tire Replacement {Market Share (%), Market Size(USD Billion)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Tire Replacement {Market Share (%), Market Size(USD Billion)}
  • The Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Tire Replacement {Market Share (%), Market Size(USD Billion)}

We conducted interviews with the Global Tire Replacement Market Manufacturers, OEMs, Aftermarket Players, Brands, Component Manufacturers, End User Industries, Distributors, Traders, Suppliers, Product Managers, Consultants, Decision Makers, VPs, Executives, Sales Managers, Regional Sales Head, C-level Executives, etc.

Key Highlights: Global Tire Replacement Market Outlook, 2019-2035 (2021 Edition)

The report includes Tire Replacement Manufacturers, Aftermarket Players & Distributors Outlook (Market Competition & Global Presence), Business Strategy & Financial Analysis of Major Players. Further, the study also covers the Industry Insights (Future Trends & Forecast Data), Trade Data (Exports and Imports) and Distribution Model Analysis, Competitive Analysis, Opportunity Analysis.

  • Market Data Outlook: Market Size (USD Billion), Market Share (%), CAGR (%), Y-O-Y Growth Rate (%) of Global Tire Replacement Industry and further it bifurcated into States/Cities, 2019-2035
  • Sales Outlook: By Rubber Type, By Distribution Channel, By End User Industry Type, By Region (Value & Volume), 2019-2035
  • Data of Manufactured & Registered Tire: By Rubber Type, By Distribution Channel, By End User Industry Type, By Region (Value & Volume), 2019-2035
  • Manufacturing/Production of Tire: By Rubber Type (OEMs & Contract Manufacturers), Production Data (By Rubber Type, By Countries), Manufacturing Capacity, Operational Margins, Profit Margin, Distribution Analysis, etc., 2019-2035
  • Global Tire Replacement Industry Outlook: Tire Expenditure, Transportation & Manufacturing Reforms, Manufacturing Facilities, Govt. & Private Investments, R&D, (Current & Future Outlook), 2019-2035
  • Regulatory Framework & Approvals Outlook: Regulatory Framework for Tire Replacement, Govt. Initiatives & Programs, Manufacturing Framework & Regulations, Import Framework, Regulations & Policies, etc.
  • Competitive Outlook: Players Financial Analysis, Marketing Strategies, Ranking Index, Product Portfolio, Pricing Analysis, List of Customers, Competitive Advantage, etc. Company Profiles, SWOT Analysis of Each Player, Recent News & Developments of Each Player, Merger & Acquisitions, etc.  
  • Tire Replacement Aftermarket & Components Outlook: Aftermarket Analysis, Components Sales Outlook, Aftermarket Sales Outlook, Engine and Parts Manufacturers, etc, 2019-2035
  • Market Dynamics: Growth Drivers, Challenges, Opportunities, Trends, SWOT Analysis, PESTLE Analysis, Pricing Patterns, Regulations, Investments, Research & Development, 2019-2035
  • Trade Data of Tire Replacement (Export & Import): By Each Segment, By Countries, (By Value & Volume), 2019-2035
  • Target Analysis: Target & Potential Markets, By Major Countries
  • Risk Analysis: Supply & Demand Analysis, 2019-2035

The study provides an in-depth analysis of current and future trends to elucidate the imminent investment pockets in the market.

  • Current and future trends are outlined to determine the overall attractiveness of the market and single out profitable trends to gain a stronger foothold in the market.
  • Quantitative analysis of the current market and forecast from 2019-2035 is provided to showcase the financial competency of the market.
  • Drivers and opportunities are evaluated to highlight the top factors responsible for market growth. Various segments are carefully evaluated to gauge the potential of the market.
  • Porter’s Five Forces Model and SWOT analysis of the industry illustrate the potency of the buyers & suppliers participating in the market.
  • Competitive Outlook of major players of the market to understand the current business scenario and to understand the complexity and investment-related factors.

Trends, Drivers & Challenges to Market Growth

Growth Drivers

  • The rubber material provides a layer to reduce the passage of impact transmission noise- The rubber underlay can be placed under ceramic tile, stone, solid hardwood, etc. Unlike natural cork, recycled rubber remains durable and will not become brittle even on exposure to air. The rubber also acts as a crack suspension membrane, preventing cracks from damaging the flooring. It can cushion ceramic and laminate floors.
  • The Crumb from used tires has been used to drain excess moisture, reduce dust and mud and minimize freezing- Crumb rubber adds impact-absorbing cushion on a variety of playing and sports surfaces including football fields, running tracks, and playgrounds. Crumb from used tires has been used in artificial fields and now being used in tracks for athletics.
  • Rubber Recyclers are working to find out new and innovative consumer applications and markets for their products- Hundreds of US companies are making a variety of consumer products from recycled crumb rubber including automobiles floor mats, spacers, and washers, weightlifting plates, vehicles mudguards, rubber products and dock dumpers.
  • Tire–derived fuel produces less moisture, sulphur, nitrogen and results in less carbon emissions for the environment- Tire –derived fuel is made by reducing scrap tires into shreds, typically to burn as a fuel source. It is used in cement kilns, steel mills and power plants etc. The tire–derived fuel is the best alternative to fossil fuels producing the same amount of energy as oil and 25% more than energy than coal.
  • Industrial feedstock is made by reducing scrap tires into fine size granules for manufacturing and industrial processes- Recycled tire rubber is being used into an increasing number of products used during building construction both indoor and outdoor. Products include accessibility ramps that have no load weight limitations, flooring products and rubber flooring.


Waste tires have the potential for profitable reuse in a number of applications. Waste tire recovery is not limited to Europe, the USA and China. The struggles to treat the waste tire to become financially available an under circumstances which it becomes environmentally friendly are spread globally. In India, the Gujarat Pollution Control Board in 2011 has to shut down 45 oil –producing pyrolysis units since they used standard and polluting technology imported from China.-Equipment meanwhile banned in China itself.Redisa, the recycling and economic development initiative in South Africa started a system in which waste pickers would collect 30 million waste tires and thus creating jobs and improving the environment. In Russia, tire manufacturers have to fulfil recycling norms including 20 percent in 2017-2018, 25 founded in Moscow for independent compliance with recycling targets of used tires by international tire manufacturers like Bridgestone, Continental, Nokian tyres.


  • Breeding ground for insects and rodents- The accumulation of waste tires leads to several serious problems, including health and environmental threats from fire or pests, leaching of contaminants from landfills, and aesthetic unsightliness. These problems are all further exacerbated by tires’ resilient composition and design. Their durable nature gives them an incredibly long lifespan. Rubber from tires will remain almost indefinitely because only the natural rubber components will break down on their own and this process can take up to 150 years. Mosquito-borne diseases such as encephalitis and dengue fever are a particular problem in tropical climates like Thailand and have been reported around large waste tire piles, creating a greater need for mosquito control.
  • Fire Hazards- Tire fires emit large amounts of heat and the oily runoff created while burning is highly flammable and can contaminate surface water, groundwater, and soil with lead and arsenic, among other toxins When tires are burned in an uncontrolled manner, contaminants are formed and released into the air, which is a threat not only to fire-fighters responsible for extinguishing the fire, but also residents that live in close proximity to the location of the landfill or tire pile. Particulate matter released from improperly burned tires has been proven to settle in lungs, and is especially dangerous to the elderly, children, and people with asthma, heart disease, and allergies. Tires burn with a higher per-kilo energy output than coal, and the high heat production of tire rubber makes it difficult to extinguish. Exposure to toxic substances at tire fires, fire duration, and site hazards encountered at tire fires all contribute to elevated risks for fire-fighters. For example, one of the most damaging tire fires occurred in September 1999 in Westley, California. Approximately five million waste tires caught fire and burned for 36 days.


This increase in the recycling can be partially attributed to the high cost of landfilling and the fact that reusing materials is cost effective in some situations in comparison to the production of new materials.


Top Tire Manufacturing Companies with Market Size
Vee Rubber Corporation $83,206.82 Million
Bridgestone Americas $18,600.27 Million
Qtyres Limited $7237.20    Million
Good Year Dunlop Tires operation $4003.74 Million
Toyo Tire Corporation $3494.15 Million
Otani Tire Company Limited $62,735.58 Million
Iran Tire Manufacturing Company $8972.14 Million
Bridgestone Corporation $32,434.89 Million
Sumitomo Rubber Industries $7946.24 Million
Yokohama Rubber Company $5778.02 Million
Cheng Shin Rubber Industries $3534.07 Million
Hankook Tire and Technology Co Limited $2835.59 Million
Continental Automotive $2860.18 Million
Pirelli Tyre Spa $3785.04 Million


Geographical Market (Dominate Market/Target Opportunities)

Geographically, the European market is the leading revenue source for the global replacement tires and rubber market, accounting for revenues of $9.3 billion in 2005. This is equivalent to 33.5 percent of the overall market value. In comparison, the AsiaPacific sector is on a fast rise, generating as much as $8.6 billion or 30.9 percent of the overall market value. The Chinese market is forecasted to grow strongly as income levels rise and make car ownership and maintenance accessible to more consumers there. This is likely to increase the Asia-Pacific contribution to the global market. The market is also segmented by tire category. The market consists of 75 percent replacement tires (RE) and 25 percent original equipment (OE). Passenger cars and light trucks account for 63.30 percent of the total market segment, and trucks account for 25 percent market share of the replacement tires.

Target Opportunity

It launched nine projects of tire rubber waste utilization. The listed schemes included amongst others projects for 300,000 tons of waste tires rubber construction, for tire recovery and whole industry chain resources recycling, for major intelligent clean demonstration engineering of 130,000 tons, for disposal and recycling of 200,000 tons per year, and for the improvement of an 11,000-ton waste tires production line.In the same year, the automobile industry began to pay attention to rubber recovery. Li Guo Qing, managing director at China Automobile Parts Holdings Ltd, saw a growing request in China to recycle rubber tires and other rubber waste products. China being the world’s biggest automobile market represents a huge demand for this technology. There is an enormous gap in the market for those looking for ways to dispose of used tires.In 2018, the synthetic rubber accounted for around 28% share in off-road tires market size owing to usage of styrene butadiene rubber (SBR) and butadiene rubber (BR) in agriculture and mining equipment vehicles. Synthetic rubber offers a cost-effective solution with considerable abrasion resistance. Manufacturers are continuously focusing to develop new raw materials for enhancing the vehicle performance. For instance, in February 2015, LANXESS showcased an innovative solution styrene butadiene rubber (SSBR) including Buna VSL 3038-2HM and Buna FX 3234A-2HM for producing energy-efficient tires. Natural rubber will register a significant growth owing to high strength and the ability to withstand heavy weight under extreme conditions. Increasing preference of natural rubber tires in off-road vehicles offering enhanced performance and stability will escalate the segment penetration over the forecast timeframe. Natural rubber provides increased durability and high flexibility in tough terrains, further influencing the segment growth. This segment is growing at a faster.

Mergers and Acquisitions

Goodyear acquired South Pacific Tyres, and Michelin acquired Shanghai Tire and Rubber Co. Most acquisitions and partnerships are now made in the Asia-Pacific region where production costs are generally lower. This has also enabled manufacturers to differentiate their operations between low- and high-margin tires. As a result, many of the low-margin tires available in the US and European markets are now produced in China where labor is cheaper. In January 2006, Bridgestone has established a new subsidiary in Guangdong Province, China, that begun operations at the beginning of 2008. Generally, low-margin tires are branded separately from the high-margin alternatives in order to strengthen the ability of players to increase prices.

Players Specific Data (Product Launch, International and Domestic Players Dominance, Sales Distribution)

  Original Equipment Replacement
Europe Including Russia -5% -2%
Europe Excluding Russia -5% -2%
North America -4% 2%
South America -4% 2%
China -9% 4%


The replacement consumer tire sales fell 3% to 218 million units, while OE demand declined 5% to 85 million units. Michelin Group reported a 10.4% increase in sales revenue for the nine months ended Sept. 30 despite lower sales volumes in the consumer and commercial tire segment. The US consumer tire aftermarket displayed moderate strength last year, with replacement passenger and light truck tire shipments up 2.2% and 2.5%, respectively, over 2018. Original equipment (OE) passenger tire shipments are expected to decrease by 2.1 million units, while passenger tire replacement shipments are projected to increase by 6.4 million units compared to 2018. World demand for tires is projected to rise 4.1 percent per year to 3.0 billion units in 2019. In value terms, sales of tires are forecast to advance 7.0 percent per annum to $258 billion. Rising incomes in developing regions will spur growth in the number of vehicles in use, fuelling demand for tires. Higher-income levels and expanding economic activity will also contribute to increases in average annual vehicle mileage, boosting replacement rates. However, the increase in miles driven will be offset by rising tire quality, which will exert downward pressure on replacement rates. Bridgestone is the leading player, with a 20.9-percent market share while Michelin follows closely with 20 percent. Sixty-six percent of the market‘s total revenues are generated by the four leading players in the industry. One reason for this level of consolidation is that the market has fairly low margins. The original equipment manufacturers (OEM) market is dominated by a few large buyers (automobile manufacturers), who place pressure on tire manufacturers to innovate and also keep prices down. Smaller companies are unlikely to compete because of insufficient scale economies to cope with the large buyers. While the aftermarket has more buyers, the largest tire companies are active in both OEM and aftermarkets. Despite the decline in the European market, growth opportunities can be found in other regions such as the US and Asia-Pacific. The commercial aftermarket is growing in the US, where replacement tires now form the market‘s most lucrative sector. The original equipment truck tire market is showing renewed growth after the stagnation of the last few years, and the North American passenger car and light truck replacement markets are increasing as is the demand for aircraft tires. There has also been a surge in demand for non-tire rubber, which is now outperforming the tire sector on a global scale. Michelin is the world‘s largest manufacturer of tires, with a market share of 20 percent in 2005. The company has a strong market position in truck tires, with a market share of over 38 percent in many geographic regions. The company has an equally robust market position in light vehicles and specialty tires such as aircraft tires. This strong market position provides the company with a competitive edge and increased bargaining power. Bridgestone Corporation is one of the world‘s largest manufacturers of tires and other rubber products. The company is primarily engaged in the production of tires and tubes for passenger cars, trucks and buses, construction and mining vehicles, industrial machinery, agricultural machinery, aircraft, motorcycles, and scooters. The company has its operations in Japan, America, and Europe. The company is headquartered in Tokyo, Japan. The Goodyear Tire & Rubber Company develops, manufactures, distributes, and sells tires and rubber products. The company has operations across the world and is headquartered in Akron, Ohio. Continental is Germany‘s largest manufacturer of tires for commercial vehicles. The company also manufactures power transmission systems, engine and suspension mounts, vehicle interiors, and electronic brake and traction control systems. The company has operations in the Americas, Europe, Asia, and Africa. It is headquartered in Hanover, Germany.

The number of Original Equipment and Replacement Passenger car and Light truck tires sold worldwide was stable in the third quarter of 2019, but declined by 1% over the first nine months, dragged down by the 7% fall in Original equipment demand during the period.

Original Equipment

  • In Western Europe, demand contracted by 6% over the nine months ended September 30, due to the continued adverse impact of the roll-out of WLTP standards (mainly in the first quarter), the economic crisis in Turkey and a certain degree of consumer hesitation in an uncertain economic environment. In addition, European export sales remained dampened by China’s economic slowdown and US protectionist measures. Demand in Eastern Europe fell back 2% over the period.
  • In North and Central America, despite a favorable economic environment, markets slid by 2% over the first nine months as domestic demand softened and, in particular, shifted to used vehicle sales.
  • Demand in Asia (excluding India) ended the first nine months down 8%. In China, the market decline eased to 8% in the third quarter from 15% in the second half, but only because of more favorable comparatives, with demand remaining deeply impacted by the trade war with the United States and the dealer inventory glut of vehicles built before deployment of the China 6 standard in June 2019. Demand in the rest of the region was stable for the period.
  • The South American market rose by 1% over the first nine months, as the rebound that began in the second quarter continued with a 4% gain in the third. Higher demand in Brazil offset the adverse impact of the financial crisis in Argentina.
  • The contraction in the Africa/India/Middle East region is deepening, with the OE market plummeting 20% in the third quarter after dropping 16% in the first half, primarily because the weaker rupee and tighter credit are weighing on domestic demand in India.

Replacement Equipment

  • In Western Europe, the Replacement tire market ended the first nine months down 2% overall, with declines in Germany (down 5%) and the Iberian Peninsula (down 3%) and stability in France and the United Kingdom. In an uncertain environment, dealers are only slowly laying in winter tire inventory as the season begins. However, demand for all-season tires remains as robust as ever.
  • Demand in Eastern Europe declined by 2%, dampened by the 5% contraction in the Russian market.
  • The North American market climbed 3% over the first nine months, with a much faster 7.5% gain in the first quarter. Demand is being driven by Asian tire imports, with the pool market up slightly for the first nine months.
  • In Asia (excluding India), the Replacement market rose by 4% overall during the period. Demand continued to rebound in China, with a 4% gain over the first nine months, and improved by 4% in the rest of the region, with an 8% surge in the third quarter led by the South Korean and Japanese markets. In the latter case, demand was buoyed by buying ahead of the recent price increases and the introduction of a higher sales tax rate on October 1, 2019.
  • Central American markets remained unchanged over the first nine months, particularly in Mexico.
  • In South America, the market edged down 1% over the first nine months, but demand rebounded by 3% in the third quarter, led by 3% growth in Brazil. The Argentine market leveled off in the third quarter after plunging 14% over the first half.
  • In the Africa/India/Middle East region, demand held firm over the first nine months, as declines in the Middle Eastern countries were offset by gains in the other markets in the region (India up 1%; Central Africa up 3%).

Global demand for new Original Equipment and Replacement Truck tires declined by 3% in number of tires sold in the first nine months of 2019, primarily due to a sharp 4% slowdown in OE demand and a 2% contraction in the Replacement markets.

Original Equipment

  • After contracting by 4% in the first half, demand in Western Europe dropped by a sharp 15% in the second quarter, to end the nine-month period down 7% overall, with declines in all of the region’s leading markets. Demand in Eastern Europe fell 4%, in line with the 5% decline in the first half.
  • The North American market turned downwards in the third quarter of 2019 off of very high prior-year comparatives (up 16% in the first nine months of 2018). After expanding by 9% in the first half thanks to fleet upgrades, demand slipped by 2% in the third quarter but remains very strong.
  • In Asia (excluding India), demand cooled by 2% over the first nine months, with a 4% contraction in the third quarter. The Chinese market declined by 3% in the third quarter, in line with the second-half trend. In Indonesia, the market continued to spiral downwards, losing 27% in the third quarter. The Japanese market eased back 1% over the first nine months.
  • In Central America, Mexican demand dropped 34% over the nine-month period.
  • In South America, the market rose 29%, lifted by sustained 30% growth in Brazilian demand.
  • In the Africa/India/Middle East region, the market fell 27%, primarily due to the 39% collapse in demand in India.


  • In Europe, Replacement tire demand rose by 2% over the first nine months. The Iberian Peninsula and UK markets delivered the fastest growth, whereas demand in Turkey remained severely impacted by the local economic crisis, losing 15% over the first nine months. Chinese tire imports, which have declined since tariff barriers were introduced in May 2018, have now been replaced by the growing supply of low-cost tires from Vietnam and Thailand.
  • The North American market fell a steep 12% overall in the first nine months, with a faster 15% drop in the third quarter. As freight demand cooled in the third quarter, Replacement tire markets were adversely impacted by the strong expansion in OE demand in the United States, which has lasted for more than a year now. In addition, massive purchases of Asian tire imports between late 2018 and early 2019, ahead of the introduction of customs duties in mid-February, had a major impact on sales in both the first half (as the resulting inventory was drawn down) and the third quarter (due to the unfavorable basis of comparison).
  • In Asia (excluding India), markets declined by 1% overall during the first nine months. In China, demand contracted by 3% over the period in a particularly uncertain economic environment. After easing by a slight 1% in the first half, demand in Southeast Asia rebounded by a strong 9% in the third quarter, led by the 17% surge in the Japanese and South Korean markets.
  • Markets in Central America were stable overall.
  • The South American market ended the period down 2%, with demand in Brazil tumbling 6% in the third quarter after holding firm in the first half. The entire region remains impacted by the declines in the Venezuelan and Argentine markets, by respectively 28% and 5% over the first nine months.
  • The Africa/India/Middle East market edged down 2%, reflecting slower growth in India and the generally unstable economic and geopolitical conditions prevailing in the rest of the region.

Sales Distribution

The original equipment dominates the replacement tire market size owing to rising off-road vehicle production across the globe. Growing disposable income along with availability of easy financing are attracting potential vehicle buyers to adopt off-road vehicles. Additionally, increasing vehicle launches along with multiple discounts offered by vehicle manufacturers are supporting the vehicle demand. Industry players are working closely with the vehicle manufacturers to understand consumer requirements and develop customized solutions for vehicle manufacturers. The secondary/replacement segment will showcase considerable growth of over 7% over the forecast timeframe due to assertive expansion strategies adopted by several industry players. The manufacturers are establishing retail channels that provide enhanced tire buying experience to customers with improved reliability, and safety. For instance, in June 2015, Bridgestone Corporation inaugurated their third concept store in India to showcase several tire brands including Dueler as an off-road tire brand. Bridgestone Corporation held the largest share among the top five players with a share of 13.90% as of 2017 followed by, Michelin Group and Goodyear Tire & Rubber Company with the respective shares of 11.580% and 7.20%. Tires from France, Japan, South Korea, and other nations now account for about 23.7% of the U.S. replacement market. By comparison, foreign manufacturers held 10.8% of the U.S. replacement tire market in 1980, according to MTD figures. Imported tires could make up 27% of the domestic replacement tire market by 1990. In replacement market, truck & bus tyres show 73%, next comes tractor front tires ( 58% ), and vice versa. And in the case of original equipment manufacturers, the tractor rear segment shows 61%growth. In the export market, light commercial vehicle shows a positive trend. In the last five years, the market value grew at a compound annual growth rate of 1.7 percent while market volume grew at a compound annual growth rate of 2.0 percent. 2001 and 2002 saw sluggish growth, which held down the market growth for the five-year review period. It was also during these years that the automobile market experienced slow market growth. Despite innovation being used to differentiate certain brands in the market, tires are close to being commodities, and competition from low-labour cost manufacturing exerted a downward pressure on prices, which held back value growth.

Competitive Landscape of Global Tire Replacement Market

  • Bridgestone Corporation, 
  • Yokohama Tire Corp, 
  • JK Tire & Industries Ltd., 
  • Nokian Heavy Tyres Ltd., 
  • Nortec. 

COVID-19 impact on "Tire Replacement Market"

The report analyses and includes a complete detailed chapter of 50-70 pages about the short-term & long terms impact of COVID-19 outbreak on each segment of the "Global Tire Replacement Market" along with government measures to support the sector. It also showcases the current market landscape during COVID, the impact of the virus on leading companies, the expected demand schedule and supply chain in the industry, and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.

Covered In This Global Tire Replacement Market Report

The report covers the present ground scenario and the future growth prospects of the automotive aftermarket for 2019-2035 along with the market players’ analysis. We calculated the market size and revenue share on the basis of revenue generated from major players in all major countries. Global Tire Replacement Market is forecasted on the basis of revenue analysis, product benchmarking and strategic developments of key market players.

Tire Replacement Market Outlook 2019-2035, has been prepared based on in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the tire replacement aftermarket industry space. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. “Tire Replacement Industry Report” also recognizes value chain analysis to understand the cost differentiation, pricing models to provide a competitive advantage to the existing and new entry players.

For a full detailed overview, send us the sample request.

Key questions answered in this Global Tire Replacement Market Report

  • What is the total market size by 2035 and what would be the expected growth rate of the market?
  • What is the total revenue per segment and region in 2018-19 and what would be the expected revenue per segment and region over the forecast period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities for the existing and entry-level players?
  • What are the recent developments and business strategies of the key players?

Reasons to buy this market study

  • Facilitate decision-making based on strong historic and forecast data for Tire Replacement Market
  • Develop strategies based on the latest regulatory framework
  • Position yourself to gain the maximum advantage of the Tire Replacement industry’s growth potential
  • Identify key partners and business development avenues across the globe
  • Respond to your competitors’ business structure, strategy, and prospect.

{ }

Global Tire Replacement Market Report | 2021 Edition | 2019-2035 | COVID-19 Impact Analysis

A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements

OR Call Us:+1-646-568-7747

Table of Contents

Please Select Linenece Type