GLOBAL AUTOMOTIVE TIRES MARKET
RECENT DEVELOPMENTS IN PASSENGER CAR TIRE MARKET
- Goodyear launched a new all-season line designated for PSA Groupe with industry’s 3-Peak Mountain Snowflake (3PMSF) designation for winter traction as well as a “A” rating for low rolling resistance under EU tire labeling regulations.
RECENT DEVELOPMENTS IN TWO-WHEELER TIRE MARKET
- Bridgestone Corporation (Bridgestone) launched BATTLAX BT46 touring motorcycle tires. BATTLAX BT46 tires will be accessible in eight front tire sizes and 17 rear tire sizes
RECENT DEVELOPMENTS IN COMMERCIAL VEHICLE TIRE MARKET
- In light of the quickly developing territorial take trucking section, The Goodyear Tire and Rubber Company launched three new sizes for the Goodyear Fuel Max RTD (Regional Traction Drive) tire line
- Bridgestone Americas Inc. is developing an airless truck tire for commercial trailers, where ~ 40% of tire failures occur
- Bridgestone also launched M713 Ecopia tire, a California Air Resources Board (CARB) compliant drive tire for tandem-axel applications in long-haul and regional service. The tire also features an IntelliShape sidewall that reduces overall tire weight to minimize rolling resistance
- Yokohama Tire launched two new spiral E-3 tires, the non-directional RT31 and the directional RT32. .
- Kumho a Korean tire maker launched world’s first 20-inch commercial vehicle tire in 45 profile, and is providing it to Hyundai for Original Equipment fit to the Solati bus. The variant of the Kumho ProTran KC53 was launched in 245/45R20C 115/113R configuration
- Carbon black supplier, Cabot Corp. has developed an engineered elastomer composite which it claims can extend the life of off-highway vehicles significantly. The pre-mixed composite solutions of elastomers requires fewer mixing stages, lower mixing temperatures and shorter mixing cycles than conventional products
TIRE SUPPLIERS` EARNINGS
Michelin reported annual Revenue of $26.9 Billion in 2019 and sees a drop in OE demand due to weak macro environment.It has also reduced inventories to align with stagnant demand across the globe.In light duty vehicle segment, replacement tire earnings have been trending upwards in North America and China but on a downward trend in Europe.
Bridgestone reported annual Revenue of $32.9 Billion in 2019 and 19% decline in operating profit. Global unit sales fell 4% worldwide for both consumer and commercial segment. It is is forecasting a rebound in earnings of 5% or better in 2020 on the back of a better price/mix component and lower raw materials expenses.
Yokohama reported annual sales of $5.6 Billion in 2019, unchanged as compared to last year but 15.4% lower business profit to $460.8 Million due to higher production and fixed costs. For 2020, it is expecting a rebound in business profit of ~10% and a 1.5% gain in sales revenue.
Goodyear America`s operating income dropped 15.9% to $550 million on 3% lower revenue of $7.92 billion in 2019.
Apollo — with 2018 sales of $2.47 Billion, recently reported lower sales and earnings for first nine months of its FY 2020.
- Continental Tires
- Sumitomo Rubber Industries
- MRF Tires
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- Market Size and Forecast, by geography($M)
- Opportunities and risks in Global Automotive Tires Market
- Important technology trends and regulatory changes
- 5 key predictions for next 5 years in Global Automotive Tires Market
- Competitive landscape and market share of leading vendors