Global Market for Tires is Projected to Reach 2.5 Billion Units by 2020
Projected Rise in Automotive Production and Launch of New Tire Models Drive the Global Tires Market, According to New Report by Global Industry Analysts, Inc . GIA announces the release of a comprehensive global report on Tires markets. Global market for Tires is projected to reach 2.5 billion units by 2020 , driven by projected rise in automotive production in developing markets and introduction of advanced tire models. Global market for tires is heavily dependent on the automotive industry, which in turn is a barometer of general economic health in a country. While automobile production trends influence demand patterns in the OEM tire market sector, vehicle population, replacement cycles, and emergence of disruptive technologies influence demand patterns in the replacement tire sector. GDP growth, employment levels, consumer discretionary spends, and average vehicle operating life influence demand in the passenger car tires market. Expansion of commercial vehicle fleets an...