NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/12/12 - Tyre shipments in the US are expected to witness a 4.2% CAGR growth during 2011-2014, which will keep the US on the forefront of the industry development, acknowledged RNCOS.
According to our recent research report,“US Tyre Industry Analysis”, the tyre industry in the US is undergoing a transformation phase amidst drastically declined Chinese imports and rise in domestic production. The recovering automobile production, replacement tyre demand, and advancements in technology upgradation is revitalizing the industry’s growth outlook and sustaining market attractiveness of the US as a viable investment destination in the region. As per the research, the total tyre shipment in the country is expected to witness a 4.2% CAGR growth during 2011-2014.
Our report identifies that, the country is known to be an appetizer of invention and implementation of new technologies and products and tyre industry is no exception to the same. The concept of large rim-size tyres and run-flat tyres are the paradigm of the country’s competitive edge. These new tyre breads are widely accepted in the US and it is expected that in coming years, the demand of high performance and ultra high performance tyres will outperform the overall passenger tyre demand in the US.
In addition, run-flat tyres, hold tremendous growth potential in the US market. Currently, the penetration of run-flat tyres is less than 1% in the country. However, some cost-related issues exist in the market for run-flat segment but its acceptance is increasing fast and automobile manufacturers are driving its volume growth by fitting them as original equipment. The run-flat tyre industry is likely to register over 15% average annual growth through 2015, which is well above the overall tyre industry growth.
Our report,“US Tyre Industry Analysis”, has been authored to evaluate the future growth potential of tyre industry in the US. It provides statistics and information on market structure, tyre production, and shipment by segments, exports, and imports trends. Tyre shipment projections have been provided for all prominent industry segments, such as passenger tyres, light truck tyres, medium and heavy truck tyres and agriculture/forestry tyres, which facilitate cutting-edge market intelligence to clients while making investment decisions.
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.