TechNavio recognizes the following companies as the key players in the Global Off-highway Tire Market: Bridgestone Corp., Compagnie Générale des Établissements Michelin SCA, Continental AG, and The Goodyear Tire and Rubber Co.
Commenting on the report, an analyst from TechNavio’s team said: “The strong and steady economic growth in the BRIC countries is one of the major factors that drive the Global Off-highway Tire market. The steady economic growth in the BRIC countries is expected to result in the rise of the Construction industry in these countries. This will lead to significant demand for off-the-road tires in the BRIC countries. The economic growth has lifted the financial status of the people these countries. Therefore, more and more people in these countries are moving to urban areas, leading to the growth of the Construction industry in these countries. The growth of the Construction industry in the BRIC countries will positively influence the demand for off-the-road tires and propel the growth of the Global Off-highway Tire market.”
According to the report, one of the main drivers in this market is the growth of the Global Heavy Construction Equipment market. The demand for construction equipment globally has a direct positive influence on the demand for off-the-road tires, resulting in the growth of the Global Off-highway Tire market.
Further, the report states that one of the main challenges in this market is the increase in raw material prices. Tire manufacturers have become extremely sensitive to raw material prices, and many of them are facing the threat of losing business to competitors. Hence, the increase in the prices of raw materials will continue to be a major concern for the market in the next few years.
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. For further information on this report, please visit https://www.technavio.com/report/global-highway-tire-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive-and-aerospace
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TechNavio Announces the Publication of its Research Report -Global Off-highway Tire Market 2014-2018
