Mar 27, 2017
According to MarketsandMarkets forecasts, the world market of tires of primary equipment will show an average annual growth rate of 5.48% in the period from 2016 to 2021 and will reach $ 20.26 billion.
The situation will be affected by the growing demand for tires with improved fuel efficiency, eco-tires and smart tires.
According to OICA (International Organization of Motor Vehicle Manufactures), world car sales increased in 2010-2015 from 55.6 to 66.3 million units.
As for tires for light commercial vehicles of commercial class, here, according to experts, the segment of repaired tires dominates. This concept, MarketsandMarkets notes, has always been popular in the segment of heavy-duty vehicles, but in the course of time, the advantages of using repaired tires in the light truck segment were seen.
For the production of a new light truck, an average of 26.4 liters of oil is required, and for restoration - only 9. On the other hand, according to the industry association Retread Tire Association, the cost of a set of four large SUV tires is about $ 1000. "Almost 50% can be saved by restoring tires," the study said.
The market of tires of primary equipment and replacement is dominated by the countries of Asia and Oceania. This is due to increased production of cars in China, India, Japan and South Korea - these countries accounted for 46% of global auto production in 2015.