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

Tires Market for OE & Replacement categorizes the Global Market by Rim Size (13-15,16-18,19-21,22-26 inch), Replacement Market, Aspect Ratio (35-55, 60-70, 75-85), Section Width (<200,200-230,>230 mm), Retreading Market and OHV Tires Market, Application, and Geography.

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

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  1. MarketsandMarkets Presents Tires Market for OE & Replacement worth 30.26 Billion USD by 2021

  2. 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 (<200,200-230,>230 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 • 120market data Tables  • 71Figures • 234 pages and in-depth TOC on "Tires Market”. • You can speak to our analyst@ • http://www.marketsandmarkets.com/speaktoanalyst.asp?id=40166492

  3. Source: MarketsandMarkets Analysis

  4. 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 <60 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. 

  5. 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 • Government’s 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. 

  6. 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 • <200 mm • 200-230 mm • >230 mm • Automotive Tires Aftermarket, By Aspect Ratio • 35-55 • 60-70 • 75-85 • Automotive Tires Market, By Region • North America • Europe • Asia-Oceania • Rest of the World

  7. 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 • Bias • Automotive Tire OE Market, by Material Type & Region • Polymers • Fillers • Softeners • Curatives • Others

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  9. About MarketsandMarkets MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers. We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

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