NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/05/02 - Shipments of the passenger car tyre in the US are forecasted to grow at 4.1% CAGR during 2011-2014 amid recovery in automobile production and introduction of technically advanced offerings, says RNCOS.
According to our latest research offering “US Tyre Industry Analysis”, the world’s largest and advanced tyre market of the US felt slowdown effects in 2009, when demand-supply mix was dented due to the reduced consumer spending and sluggish car production. However, effects were not long lasting and the industry posted notable comeback growth in 2010. Passenger car tyre segment, in particular, led the overall industry comeback and brought growth figures again in positive territory. The research further revealed that, the segment will post 4.1% CAGR growth during 2011-2014, thus bringing the US market again on the positive growth track.
The study identified that, the passenger car segment is expected to sustain its rising tyre demand in the coming years. Passenger car major’s capacity additions will result in OEM’s increasing tyre off takes in future. In response from the OEM’ front, passenger vehicle industry is expected to expand capacity in the coming years. We expect almost all automobile majors to free flow their manufacturing capacities in near future, which will prove decisive for the tyre demand in the US.
Further, the concept of large rim-size tyres and run-flat tyres are the paradigm of the country's competitive edge. These new tyre types are widely accepted in the US and it is expected that in coming years, the demand for high performance and ultra high performance tyres will outperform the overall passenger tyre demand in the US. Presently, the market share of run-flat tyres is less than 1% in the US, which is anticipated to grow strongly, backed by various factors discussed in the report.
Our report “US Tyre Industry Analysis” has been authored to evaluate the future growth potential of the tyre industry in the US. It provides statistics and information on market structure, tyre production, and shipment in terms of segments, exports, and imports trends. Tyre shipment projections have been provided for all prominent industry segments, such as passenger tyres, light truck tyres, medium & heavy truck tyres, and agriculture/forestry tyres, which facilitate the cutting edge market intelligence to clients, while making investment decisions.
RNCOS (rncos.com) 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.