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Industry report: OE tire market to grow 5.5% to 2021

Pune, India – The global market for original equipment (OE) tires is projected to grow at a CAGR of 5.48% from 2016 to 2021, to reach a value of $30.26 billion (€28 billion), according to a report by Indian research group MarketsandMarkets.

The demand, said the report, is driven by demand for improved fuel economy, low rolling resistance tires, eco-friendly and smart tires.

Titled “tires market for OE & replacement”, the report suggests that passenger cars will be the largest vehicle type to drive growth in the…

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