TechNavio today launched its report, Global Commercial Vehicle Tire Market 2012-2016, based on an in-depth analysis covering the North America, APAC, Western Europe and rest of the world regions. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”The Global Commercial Vehicle Tire market is witnessing increasing demand for radial and tubeless tires. The Truck and Bus segment, which is a major segment in terms of capacity, is witnessing a steady increase in the proportion of radial tires being adopted. In addition, as a result of the development of road infrastructure worldwide and the increasing importance of fuel-efficient products in the Global Automobile market, the proportion of radial tires in various segments of the Global Commercial Vehicle Tire market is anticipated to increase rapidly. Further, the Global Commercial Vehicle Tire market is witnessing the increasing adoption of tubeless tires in all vehicle segments. The demand for radial and tubeless tires will boost the growth of the Global Commercial Vehicle Tire market.”
According to the report, the steady economic growth in the APAC region is a major growth driver in the Global Commercial Vehicle Tire market. The economic growth in the region has improved the financial status of large sections of the population, which in turn is leading to an increase in the per capita income of the population and increased demand for automobiles and other vehicles. Japan and China in particular are two major markets for tires in the Global Commercial Vehicle Tire market. Therefore, the demand for tires has increased in the APAC region, which is leading to the growth of the Global Commercial Vehicle Tire market.
Further, the report reveals that the increasing cost of raw materials and commodity products is one of the major challenges faced by this market.
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/content/global-commercial-vehicle-tire-market-2…
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Global Commercial Vehicle Tire Market 2012-2016
