ERJ staff report (DS)
Cleveland, Ohio - World demand for tyres is forecast to rise 4.7 percent per year through 2015 to 3.3 billion units. In value terms, the tyre market is projected to advance 6.5 percent annually over the same span to $220 billion.
The large motor vehicle tyre market will see an acceleration in growth through 2015. Stronger gains will be registered by the industrial and other tyres segment, which includes a variety of tyre types, including bicycle, motorcycle and off-road tyres.
These and other trends are presented in World Tires, a new study from The Freedonia Group, Inc., a Cleveland-based industry market research firm.
The massive Chinese tyre market, which alone accounted for more than one-quarter of global tyre demand in 2010, will record the strongest gains of any country through 2015.
Although the majority of tyre demand in China is comprised of motorcycle and bicycle tyres, sales of motor vehicle tyres in the country are also the second highest in the world, behind only the US. The tyre markets in North America and Western Europe will continue to see advances below the global average, although both regions will rebound from the declines recorded during the 2005 to 2010 period.
Motor vehicle tyres, which accounted for over 60 percent of all tyre demand in 2010, will remain the largest segment of the tyre market in 2015. As income levels increase worldwide, the share of the global population able to own a vehicle will rise.
The 478-page report was first published in February 2012and is available for a price of around US$5800, depending on delivery options.
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Press release from Freedonia (contains data)
home page of report from Freedonia