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World demand for Tires is to rise 4.3% annually through 2017
Bharatbook.com announces a new report on "World Tires" which gives the current scenario and the opportunities in the World Tires market.
Asia/Pacific region to claim two-thirds of total growth
The Asia/Pacific region will be responsible for the bulk of global tire demand gains, accounting for two-thirds of total growth through 2017. China is the largest market for tires (http://www.bharatbook.com/
Gains in North America, Western Europe to lag
The markets for tires in North America and Western Europe will show improvement relative to the 2007-2012 period, but gains will remain below two percent per annum in both regions through 2017. Stronger economic environments will result in advancements in both new vehicle production and vehicle usage, supporting growth in demand for tires. However, slow population growth and mature rates of personal motor vehicle usage will serve to constrain market gains. In addition, the losses in new vehicle production that occurred in both regions between 2007 and 2012 will not be fully recovered, as significant production capacity was permanently transferred to lower-cost developing countries. The US will continue to be the world’s second largest market for tires, accounting for 13 percent of global demand in 2017.
Motorcycle, other tires to outpace motor vehicle market
Motor vehicles represented the largest market for tires in 2012, and will account for 73 percent of global demand in 2017. Gains through 2017 will be stimulated by increases in motor vehicle usage in developing countries, spurring demand for tires in both original equipment manufacturing (OEM) and replacement applications. The market for motorcycle tires is forecast to expand at an above average rate through 2017. Relative to motor vehicles, usage of motorcycles is especially concentrated in faster-growing developing regions, allowing the market for motorcycle tires to be less constrained in the aggregate by weaker performances in advanced economies. Other tires will post the fastest growth through 2017, supported by rapid increases in demand for industrial, agricultural, and aircraft tires in developing regions, although these will remain a very small portion of overall tire sales.
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