MRC Announces the Publication of its Research Report – Global Automotive Tires Market 2017-2021
MRC recognizes the following companies as the key players in the global automotive tires market: Bridgestone, Continental, Goodyear, and Michelin
MRC recognizes the following companies as the key players in the global automotive tires market: Bridgestone, Continental, Goodyear, and Michelin
Other Prominent Vendors in the market are: Apollo Tyres, ACooper Tire & Rubber Company, Hankook Tire, JK Tyre, MRF, Pirelli, Sumitomo Rubber Industries, and Yokohama Tire Corporation.
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Use of radio frequency tags in tires. Commercial truck tire manufacturers have started implanting radio frequency identification (RFID) tags into the tires while manufacturing them because this technology provides benefits to both truck fleets and tire manufacturers. RFID system contains a tag or a label- surrounded by a transmitter, receiver, and a reader. Microchip and antenna are the two parts present on the tag of RFID component. Information is stored and processed by microchip, whereas signals are received and transmitted by an antenna. Passive RFID tags are used for tires because they do not require a battery.”
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Use of radio frequency tags in tires. Commercial truck tire manufacturers have started implanting radio frequency identification (RFID) tags into the tires while manufacturing them because this technology provides benefits to both truck fleets and tire manufacturers. RFID system contains a tag or a label- surrounded by a transmitter, receiver, and a reader. Microchip and antenna are the two parts present on the tag of RFID component. Information is stored and processed by microchip, whereas signals are received and transmitted by an antenna. Passive RFID tags are used for tires because they do not require a battery.”
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According to the report, one of the major drivers for this market is Eco-friendly tires that reduce fuel consumption and save money. The US Department of Energy revealed that to overcome rolling resistance from tires, up to 15% of a car's fuel is being used. With the increasing fuel prices, OEMs are developing ways to make the vehicles fuel-efficient, reducing the fuel consumption. One of the ways is the use of eco-friendly tires.
Further, the report states that one of the major factors hindering the growth of this market is Increasing raw material prices. For the tire industry, the major raw material is rubber, and it contributes to 40% of the total cost of raw materials. Both natural and synthetic rubber are used for tire manufacturing. In 2016, due to supply interruptions in Thailand, the natural rubber price increased all over the world, and in India, it reached a three years' high.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Further, the report states that one of the major factors hindering the growth of this market is Increasing raw material prices. For the tire industry, the major raw material is rubber, and it contributes to 40% of the total cost of raw materials. Both natural and synthetic rubber are used for tire manufacturing. In 2016, due to supply interruptions in Thailand, the natural rubber price increased all over the world, and in India, it reached a three years' high.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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