{"id":1355,"date":"2020-03-31T08:30:00","date_gmt":"2020-03-31T08:30:00","guid":{"rendered":"http:\/\/wordpress2.hdnweb.com\/2020\/03\/31\/tires-market-for-oe-replacement-worth-113-1-billion-by-2025-exclusive-report-by-marketsandmarkets\/"},"modified":"2020-03-31T08:30:00","modified_gmt":"2020-03-31T08:30:00","slug":"tires-market-for-oe-replacement-worth-113-1-billion-by-2025-exclusive-report-by-marketsandmarkets","status":"publish","type":"post","link":"https:\/\/wordpress2.hdnweb.com\/en\/2020\/03\/31\/tires-market-for-oe-replacement-worth-113-1-billion-by-2025-exclusive-report-by-marketsandmarkets\/","title":{"rendered":"Tires Market for OE &amp; Replacement Worth $113.1 Billion by 2025 &#8211; Exclusive Report by MarketsandMarkets\u2122"},"content":{"rendered":"<p><\/p>\n<style type=\"text\/css\"><![CDATA[\n\/* Style Definitions *\/\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n]]><\/style>\n<div class=\"xn-content\">\n<p><span class=\"xn-location\">CHICAGO<\/span>, <span class=\"xn-chron\">March 31, 2020<\/span> \/PRNewswire\/ &#8212; According to the new market research report <b>&#8220;<\/b><a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/Market-Reports\/automotive-tire-market-40166492.html\" rel=\"nofollow\">Tires Market for OE &amp; Replacement<\/a><b>\u00a0by Rim Size (13-15, 16-18, 19-21,&gt;21 inches), Replacement Market, by Aspect Ratio (&lt;60, 60-70, &gt;70), Section Width (&lt;200, 200-230,&gt;230 mm), Season, Vehicle Type, Retreading Market, and Region &#8211; Global Forecast to 2025&#8243;, <\/b>published by<b>\u00a0<\/b>MarketsandMarkets\u2122, the Tires Replacement Market is projected to grow at a CAGR of 1.8% to reach a market size of <span class=\"xn-money\">USD 113.1 billion<\/span> by 2025 from 101.7 billion in 2019. The replacement market is primarily driven by the increasing average life of vehicles and average annual miles traveled by light-duty vehicles.<\/p>\n<div id=\"prni_dvprnejpg6e96left\" style=\"WIDTH: 100%; TEXT-ALIGN: left\" dir=\"ltr\"><img decoding=\"async\" id=\"prnejpg6e96left\" title=\"MarketsandMarkets-Logo\" border=\"0\" alt=\"MarketsandMarkets-Logo\" align=\"middle\" imagelabel=\"Logo\" src=\"https:\/\/mma.prnewswire.com\/media\/660509\/MarketsandMarkets_Logo.jpg\"\/><\/div>\n<p><b>&#8220;Passenger cars to be the largest vehicle type in the Tires Market for OE and Replacement.&#8221;<\/b><\/p>\n<p>Passenger car vehicle type is expected to dominate the Tires Market for OE and Replacement. According to OICA, the passenger car production is estimated to be 58.7 million units. Also, the passenger car production is expected to account for ~70% of the total vehicle production in 2019 for select countries. With an increase in sales and increased average life of passenger cars, the passenger car fleet has also risen over the period. Based on another report from OICA, the passenger car parc is estimated to witness slight growth in 2019 as compared to 2018. This rise in sales and parc of passenger cars has influenced the demand for tires in OE as well as in the replacement market. However, factors such as increased average replacement life of tires with the advancement in the technologies, and fluctuating raw material prices may hamper the tire demand in the aftermarket.<\/p>\n<p><i>Browse in-depth TOC on <\/i><b>&#8220;<b>Tires Market<\/b>&#8220;<\/b><\/p>\n<p><b>143 \u2013 Tables<br \/><\/b><b>76 \u2013 Figures\u00a0\u00a0 <br \/><\/b><b>253 \u2013 Pages<\/b><\/p>\n<p><b>Download PDF Brochure:<\/b><\/p>\n<p><a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/pdfdownloadNew.asp?id=40166492&amp;utm_source=PRnewswire&amp;utm_medium=Referral&amp;utm_campaign=PaidPR\" rel=\"nofollow\">https:\/\/www.marketsandmarkets.com\/pdfdownloadNew.asp?id=40166492<\/a><b>\u00a0<\/b><\/p>\n<p><b>&#8220;Light commercial vehicles to witness significant growth in the tires retreading market.&#8221;<\/b><\/p>\n<p>Retreading of tires has always been a popular concept with heavy commercial vehicles, but with time the potential benefits of using it for light commercial vehicles have been noticed. In a light-duty vehicle, single tire manufacturing consumes on an average 26 liters of oil, however retreading of the same tire consumes only 9 liters of oil which is almost 34% of the new manufacturing process. On the other hand, according to Retread Tire Association, for large SUVs, a new set of four tires cost for around <span class=\"xn-money\">USD 1,000<\/span>. Almost 50% of the cost is saved by adopting retreading for light-duty vehicles. Thus retreading suppliers are now focusing on light-duty vehicle retreading along with certain tire manufacturers entering into the retreading business, such as The Goodyear Tire &amp; Rubber Company (U.S.) which has more than 1,700 tire retreading and service centers for commercial vehicles.<\/p>\n<p><b>&#8220;Asia-Oceania to grow at the highest CAGR during the forecast period for tires OE and replacement market.&#8221;<\/b><\/p>\n<p>Asia-Oceania is estimated to dominate the Tires Market for OE and Replacement. The growth in Asia-Oceania is attributed to increasing vehicle production in Asian countries, which includes <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">India<\/span>, <span class=\"xn-location\">Japan<\/span>, and <span class=\"xn-location\">South Korea<\/span>. <span class=\"xn-location\">Asia Pacific<\/span> spearheaded by <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">India<\/span> holds the lion&#8217;s share in the vehicle production across the globe. The increase in sales of the vehicles is owing to various factors such as increasing per capita income coupled with the growing demand for SUVs and premium segment vehicles. On the other hand, the tires aftermarket is driven by growth in automobile ownership per capita and the shifting demand of customers towards the use of low rolling resistance tires.<\/p>\n<p><b>Speak to Analyst:<\/b><\/p>\n<p><a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/speaktoanalystNew.asp?id=40166492&amp;utm_source=PRnewswire&amp;utm_medium=Referral&amp;utm_campaign=PaidPR\" rel=\"nofollow\">https:\/\/www.marketsandmarkets.com\/speaktoanalystNew.asp?id=40166492<\/a>\u00a0<\/p>\n<p>The Tires Market is dominated by a few global players and comprises several regional players. Some of the key manufacturers operating in the market are Bridgestone Corporation (<span class=\"xn-location\">Japan<\/span>), Continental AG (<span class=\"xn-location\">Germany<\/span>), The Goodyear Tire &amp; Rubber Company (The U.S.), <span class=\"xn-person\">Michelin (France)<\/span>, and Pirelli &amp; C. S.p.A (<span class=\"xn-location\">Italy<\/span>). There are certain key innovators gaining attention in the <b>Tires Market<\/b>\u00a0including CODA Development (<span class=\"xn-location\">Czech Republic<\/span>), Kumho Tires (<span class=\"xn-location\">South Korea<\/span>), and Nokian Tyres (<span class=\"xn-location\">Finland<\/span>).<\/p>\n<p><b>Browse Related Reports:<\/b><\/p>\n<p><a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/Market-Reports\/otr-tire-market-205158802.html\" rel=\"nofollow\">OTR Tires Market<\/a>\u00a0by Application (Construction &amp; Mining Equipment, Industrial Equipment, Agriculture Tractor), Type (Wheeled, and Track), Retreading Market by Application, Process (Mold Cure and Pre-Cure), and Region &#8211; Global Forecast to 2025<\/p>\n<p><a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/Market-Reports\/advanced-tire-market-15721834.html\" rel=\"nofollow\">Advanced Tires Market<\/a>\u00a0By On-Highway &amp; Off-Highway Vehicle, Technology (TPMS, Chip-Embedded, Self-Inflating, All-in-one, Multi-Chamber), Autonomous Vehicle, 3D Printed, Type (Run-flat, Airless, Pneumatic), Material, and Region &#8211; Global Forecast to 2030<\/p>\n<p><b>About MarketsandMarkets\u2122<\/b>\u00a0<\/p>\n<p>MarketsandMarkets\u2122 provides quantified B2B research on 30,000 high growth niche opportunities\/threats which will impact 70% to 80% of worldwide companies&#8217; revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets\u2122 for their painpoints around revenues decisions.<\/p>\n<p>Our 850 fulltime analyst and SMEs at MarketsandMarkets\u2122 are tracking global high growth markets following the &#8220;Growth Engagement Model \u2013 GEM&#8221;. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write &#8220;Attack, avoid and defend&#8221; strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets\u2122 now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets\u2122 is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations\/disruptions early to the market by providing them research ahead of the curve.<\/p>\n<p>MarketsandMarkets&#8217;s flagship competitive intelligence and market research platform, &#8220;Knowledge Store&#8221; connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.<\/p>\n<p><b>Contact:<br \/><\/b>Mr. <span class=\"xn-person\">Sanjay Gupta<\/span><br \/>MarketsandMarkets\u2122 INC.<br \/>630 Dundee Road<br \/>Suite 430<br \/><span class=\"xn-location\">Northbrook, IL<\/span> 60062<br \/><span class=\"xn-location\">USA<\/span>: +1-888-600-6441<br \/>Email: <a target=\"_blank\" href=\"mailto:sales@marketsandmarkets.com\" rel=\"nofollow\">sales@marketsandmarkets.com<\/a>\u00a0<br \/>Research Insight: <a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/ResearchInsight\/automotive-tire-market.asp\" rel=\"nofollow\">https:\/\/www.marketsandmarkets.com\/ResearchInsight\/automotive-tire-market.asp<\/a> <br \/>Visit Our Web Site:\u00a0<a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/\" rel=\"nofollow\">https:\/\/www.marketsandmarkets.com<\/a>\u00a0 <br \/>Content Source: <a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/PressReleases\/automotive-tire.asp\" rel=\"nofollow\">https:\/\/www.marketsandmarkets.com\/PressReleases\/automotive-tire.asp<\/a> <\/p>\n<p>Logo : <a target=\"_blank\" href=\"https:\/\/mma.prnewswire.com\/media\/660509\/MarketsandMarkets_Logo.jpg\" rel=\"nofollow\">https:\/\/mma.prnewswire.com\/media\/660509\/MarketsandMarkets_Logo.jpg<\/a> <\/p>\n<\/div>\n<p> <\/p>","protected":false},"excerpt":{"rendered":"<div class=\"xn-content\">\n<p><span class=\"xn-location\">CHICAGO<\/span>, <span class=\"xn-chron\">March 31, 2020<\/span> \/PRNewswire\/ &#8212; According to the new market research report <b>&#8220;<\/b><a target=\"_blank\" href=\"https:\/\/www.marketsandmarkets.com\/Market-Reports\/automotive-tire-market-40166492.html\" rel=\"nofollow noopener noreferrer\">Tires Market for OE &amp; Replacement<\/a><b>\u00a0by Rim Size (13-15, 16-18, 19-21,&gt;21 inches), Replacement Market, by Aspect Ratio (&lt;60, 60-70, &gt;70), Section Width (&lt;200, 200-230,&gt;230 mm), Season, Vehicle Type, Retreading Market, and Region &#8211; Global Forecast to 2025&#8243;,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":1356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[18],"tags":[],"class_list":["post-1355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hispanicmotorpress"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tires Market for OE &amp; 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