global tire market forecast 2021 - brochure

Global Tire Market Forecast & Opportunities , 2021

M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

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T a b l e o f C o n t e n t s

S. No. Contents

1. Product Overview

2. Research Methodology

3. Global Tire Market Outlook

3.1. Global Tire Production Plants Overview

3.2. Global Vehicle Production

3.3. Global Vehicle Sales

3.4. Global Vehicle Fleet

3.5. Market Size & Forecast

3.5.1. By Value & Volume

3.5.2. By Vehicle Type

3.5.2.1. Global Passenger Car Tire Market Outlook

3.5.2.2. Global Light Commercial Vehicle Tire Market Outlook

3.5.2.3. Global Medium & Heavy Commercial Vehicle Tire Market Outlook

3.5.2.4. Global Two-Wheeler Tire Market Outlook

3.5.2.5. Global Three-Wheeler Tire Market Outlook

3.5.2.6. Global Off-the-Road Tire Market Outlook

3.6. Market Share & Forecast


3.6.2. By Demand Category (OEM Vs. Replacement)

3.6.3. By Region

4. Asia-Pacific Tire Market Outlook


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4.2.2. By Country

4.2.1. China Tire Market Outlook

4.2.1.1. Market Size & Forecast

4.2.1.1.1. By Value & Volume

4.2.1.2. Market Share & Forecast

4.2.1.2.1. By Vehicle Type

4.2.1.3. China Vehicle Production, Sales & Fleet

4.2.2. India Tire Market Outlook





4.2.2.3. India Vehicle Production, Sales & Fleet

4.2.3. Japan Tire Market Outlook





4.2.3.3. Japan Vehicle Production, Sales & Fleet

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4.2.4. Thailand Tire Market Outlook





4.2.4.3. Thailand Vehicle Production, Sales & Fleet

4.2.5. South Korea Tire Market Outlook





4.2.5.3. South Korea Vehicle Production, Sales & Fleet

4.2.6. Indonesia Tire Market Outlook





4.2.6.3. Indonesia Vehicle Production, Sales & Fleet

4.2.7. Philippines Tire Market Outlook




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4.2.7.3. Philippines Vehicle Production, Sales & Fleet

4.2.8. Vietnam Tire Market Outlook





4.2.8.3. Vietnam Vehicle Production, Sales & Fleet

4.2.9. Australia Tire Market Outlook





4.2.9.3. Australia Vehicle Production, Sales & Fleet

4.2.10. Malaysia Tire Market Outlook





4.2.10.3. Malaysia Vehicle Production, Sales & Fleet

4.2.11. Bangladesh Tire Market Outlook


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4.2.11.3. Bangladesh Vehicle Sales & Fleet

4.2.12. Pakistan Tire Market Outlook





4.2.12.3. Pakistan Vehicle Production, Sales & Fleet

4.2.13. Sri Lanka Tire Market Outlook





4.2.13.3. Sri Lanka Vehicle Sales & Fleet

4.2.14. Taiwan Tire Market Outlook





4.2.14.3. Taiwan Vehicle Production, Sales & Fleet

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4.2.15. Singapore Tire Market Outlook





4.2.15.3. Singapore Vehicle Sales & Fleet

4.2.16. New Zealand Tire Market Outlook





4.2.16.3. New Zealand Vehicle Sales & Fleet

5. Europe & CIS Tire Market Outlook





5.2.2. By Country

5.2.1. Germany Tire Market Outlook




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5.2.1.3. Germany Vehicle Production, Sales & Fleet

5.2.2. United Kingdom Tire Market Outlook





5.2.2.3. United Kingdom Vehicle Production, Sales & Fleet

5.2.3. France Tire Market Outlook





5.2.3.3. France Vehicle Production, Sales & Fleet

5.2.4. Spain Tire Market Outlook





5.2.4.3. Spain Vehicle Production, Sales & Fleet

5.2.5. Italy Tire Market Outlook


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5.2.5.3. Italy Vehicle Production, Sales & Fleet

5.2.6. Russia Tire Market Outlook





5.2.6.3. Russia Vehicle Production, Sales & Fleet

5.2.7. Portugal Tire Market Outlook





5.2.7.3. Portugal Vehicle Production, Sales & Fleet

5.2.8. Poland Tire Market Outlook





5.2.8.3. Poland Vehicle Production, Sales & Fleet

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5.2.9. Norway Tire Market Outlook





5.2.9.3. Norway Vehicle Sales & Fleet

5.2.10. Netherlands Tire Market Outlook





5.2.10.3. Netherlands Vehicle Production, Sales & Fleet

5.2.11. Ukraine Tire Market Outlook





5.2.11.3. Ukraine Vehicle Production, Sales & Fleet

5.2.12. Sweden Tire Market Outlook




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5.2.12.3. Sweden Vehicle Production, Sales & Fleet

5.2.13. Slovenia Tire Market Outlook





5.2.13.3. Slovenia Vehicle Production, Sales & Fleet

5.2.14. Slovakia Tire Market Outlook





5.2.14.3. Slovakia Vehicle Production, Sales & Fleet

5.2.15. Serbia Tire Market Outlook





5.2.15.3. Serbia Vehicle Production, Sales & Fleet

5.2.16. Luxembourg Tire Market Outlook


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5.2.16.3. Luxembourg Vehicle Sales & Fleet

5.2.17. Lithuania Tire Market Outlook





5.2.17.3. Lithuania Vehicle Sales & Fleet

5.2.18. Latvia Tire Market Outlook





5.2.18.3. Latvia Vehicle Sales & Fleet

5.2.19. Hungary Tire Market Outlook





5.2.19.3. Hungary Vehicle Production, Sales & Fleet

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5.2.20. Greece Tire Market Outlook





5.2.20.3. Greece Vehicle Sales & Fleet

5.2.21. Ireland Tire Market Outlook





5.2.21.3. Ireland Vehicle Sales & Fleet

5.2.22. Belgium Tire Market Outlook





5.2.22.3. Belgium Vehicle Production, Sales & Fleet

5.2.23. Armenia Tire Market Outlook




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5.2.24. Austria Tire Market Outlook





5.2.24.3. Austria Vehicle Production, Sales & Fleet

5.2.25. Bosnia & Herzegovina Tire Market Outlook





5.2.25.3. Bosnia & Herzegovina Vehicle Sales & Fleet

5.2.26. Azerbaijan Tire Market Outlook





5.2.26.3. Azerbaijan Vehicle Sales & Fleet

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5.2.27. Bulgaria Tire Market Outlook





5.2.27.3. Bulgaria Vehicle Sales & Fleet

5.2.28. Croatia Tire Market Outlook





5.2.28.3. Croatia Vehicle Sales & Fleet

5.2.29. Czech Republic Tire Market Outlook





5.2.29.3. Czech Republic Vehicle Production, Sales & Fleet

5.2.30. Denmark Tire Market Outlook




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5.2.30.3. Denmark Vehicle Sales & Fleet

5.2.31. Switzerland Tire Market Outlook





5.2.31.3. Switzerland Vehicle Sales & Fleet

5.2.32. Estonia Tire Market Outlook





5.2.32.3. Estonia Vehicle Sales & Fleet

5.2.33. Finland Tire Market Outlook





5.2.33.3. Finland Vehicle Sales & Fleet

5.2.34. Romania Tire Market Outlook


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5.2.34.3. Romania Vehicle Production, Sales & Fleet

6. North America Tire Market Outlook





6.2.2. By Country

6.2.1. United States Tire Market Outlook





6.2.1.3. United States Vehicle Production, Sales & Fleet

6.2.2. Mexico Tire Market Outlook





6.2.2.3. Mexico Vehicle Production, Sales & Fleet

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6.2.3. Canada Tire Market Outlook





6.2.3.3. Canada Vehicle Production, Sales & Fleet

7. South America Tire Market Outlook





7.2.2. By Country

7.2.1. Brazil Tire Market Outlook





7.2.1.3. Brazil Vehicle Production, Sales & Fleet

7.2.2. Argentina Tire Market Outlook




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7.2.2.3. Argentina Vehicle Production, Sales & Fleet

7.2.3. Chile Tire Market Outlook





7.2.3.3. Chile Vehicle Sales & Fleet

7.2.4. Cuba Tire Market Outlook





7.2.4.3. Cuba Vehicle Sales & Fleet

8. Middle East Tire Market Outlook





8.2.2. By Country

8.2.1. Iran Tire Market Outlook


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8.2.1.3. Iran Vehicle Production, Sales & Fleet

8.2.2. Saudi Arabia Tire Market Outlook





8.2.2.3. Saudi Arabia Vehicle Sales & Fleet

8.2.3. United Arab Emirates Tire Market Outlook





8.2.3.3. United Arab Emirates Vehicle Sales & Fleet

8.2.4. Qatar Tire Market Outlook





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8.2.4.3. Qatar Vehicle Sales & Fleet

8.2.5. Turkey Tire Market Outlook





8.2.5.3. Turkey Vehicle Production, Sales & Fleet

8.2.6. Israel Tire Market Outlook





8.2.6.3. Israel Vehicle Sales & Fleet

8.2.7. Oman Tire Market Outlook





8.2.7.3. Oman Vehicle Sales & Fleet

8.2.8. Algeria Tire Market Outlook



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8.2.8.3. Algeria Vehicle Sales & Fleet

8.2.9. Bahrain Tire Market Outlook





8.2.9.3. Bahrain Vehicle Sales & Fleet

8.2.10. Kuwait Tire Market Outlook





8.2.10.3. Kuwait Vehicle Sales & Fleet

9. Africa Tire Market Outlook





9.2.2. By Country

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9.2.1. South Africa Tire Market Outlook





9.2.1.3. South Africa Vehicle Production, Sales & Fleet

9.2.2. Zimbabwe Tire Market Outlook





9.2.2.3. Zimbabwe Vehicle Sales & Fleet

9.2.3. Egypt Tire Market Outlook





9.2.3.3. Egypt Vehicle Sales & Fleet

9.2.4. Kenya Tire Market Outlook




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9.2.4.3. Kenya Vehicle Sales & Fleet

9.2.5. Angola Tire Market Outlook





9.2.5.3. Angola Vehicle Sales & Fleet

9.2.6. Ethiopia Tire Market Outlook





9.2.6.3. Ethiopia Vehicle Sales & Fleet

9.2.7. Libya Tire Market Outlook





9.2.7.3. Libya Vehicle Sales & Fleet

10. About Us & Disclaimer

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P r o d u c t O v e r v i e w

Global tire supplier Michelin defines tire as “A precisely engineered assembly of rubber,chemicals, fabric, and metal, designed to provide traction, cushion road shock andcarry a load under varying conditions.”

Classification According to Vehicle Type

Product Definition

Vehicle Segment Customer Segment

Passenger Car Individuals

Light Commercial Vehicle

Transport Companies, Logistics, Small Business Entrepreneurs, Government

Medium & Heavy Commercial vehicle

Two-wheeler Individuals

Three-Wheeler Passenger Transport & Logistics

OTR (Off-the-Road) Vehicle (OTR include Mining, Construction & Industrial Equipment, Agriculture

Vehicles and Others)

Mining companies, Construction companies and Industries, Farmers, Sports companies, Adventure

activity industries etc.

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P r o d u c t O v e r v i e w

Classification According to Region Wise

Region Countries

Asia-Pacific

China, India, Japan, Thailand, South Korea , Indonesia , Philippines, Vietnam, Australia, Malaysia, Bangladesh, Pakistan, Sri lanka, Taiwan, Singapore, New Zealand

and others.

Europe & CIS

Germany, United Kingdom , France, Spain, Italy, Russia, Portugal, Poland, Norway, Netherlands, Ukraine, Sweden,

Slovenia, Slovakia, Serbia, Luxembourg , Lithuania, Latvia, Hungary, Greece, Ireland, Belgium, Armenia,

Austria, Bosnia and Herzegovina, Azerbaijan, Bulgaria, Croatia, Czech Republic, Denmark, Switzerland, Estonia,

Finland, Romania and others.

North America United States, Mexico and Canada

South America Brazil, Argentina, Chile, Cuba and others.

Middle East Iran, Saudi Arabia, United Arab Emirates (UAE), Qatar,

Turkey, Israel, Oman, Algeria, Bahrain, Kuwait and others

AfricaSouth Africa, Zimbabwe, Egypt, Kenya, Angola, Ethiopia,

Libya and others

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R e s e a r c h M e t h o d o l o g y

A

C

B

Primary Research

Company Analysis

Desk Research

Identifying Key Opinion

Leaders

Questionnaire Design

In-depth Interviews

Market Participants

Key Strengths

Tire Portfolio

OEM Tie-ups

Recent

Developments

Market Changing

Aspects/Dynamics

Government

Policies

Final Conclusion

LinkedIn TechSci Internal

database

Factiva Hoovers

Paid Sources

Company Website Company Annual

Reports White Paper Study Financial Reports Investor

Presentations Regulatory Body, Associations, etc.

Secondary Research

Primary Research

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

•In-depth secondary research was used todetermine top players in Global tire market,overall market size and to identify topautomobile tire manufactures.

Market Profiling

•In order to conduct industry experts interviews,TechSci formulated a detailed questionnaire.

Formulating Questionnaire

•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.

Developing list of respondents

•TechSci conducted interviews with industryexperts, industry players, for data collection andverification.

Data Collection

•Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.

Data Validation

•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis etc.to obtain qualitative and quantitative insightsabout the Global tire market.

Data Analysis

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Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leading global tiresuppliers, and subsequently, verified information from major distributors of tires across the world. We also putthrough an exhaustive search of credible paid databases such as Business Week, Factiva, Hoovers, etc., including ourinternal database. Our team of analysts has then prudently evaluated all the collected information and presented thesame in chronological order to depict a meaningful and clear picture of the global tire market.

While compiling the data, we have also cross checked all the collected information from multiple sources and datawarehouses, so as to present the most accurate and precise information of the concerned industry. We useinnovative business model that focuses on improving productivity, which ensuring creation of high-quality reports.The reports are prepared with in-depth primary research, followed by exhaustive secondary research.

Primary Research – Major Companies Interviewed Secondary Research - Few Major Sources

S. No. Company Name

1. Bridgestone Corporation

2. Titan Tire Corporation

3. Compagnie Générale des Établissements Michelin

4. The Goodyear Tire & Rubber Company

5. Continental AG

6. MRF Limited

7. The Yokohama Rubber Co., Ltd.

8. Apollo Tyres Ltd.

9. Balkrishna Industries Limited

10. JK Tyre & Industries Ltd.

S.

No.Secondary Source

1.European Tyre and Rubber Manufacturers

Association (ETRMA)

2.Japan Automobile Tyre Manufacturers Association

(JATMA)

3.National Association of Automobile Manufacturers

(ANFAVEA) Brazil

4.Automotive Tyre Manufacturers Association (ATMA)

India

5. The British Tyre Manufacturers Association (BTMA)

6.Society of Motor Manufacturers and Traders of UK

(SMMT)

7.Malaysian Rubber Products Manufactures Association

(MRPMA)

8. China Rubber industry Association (RIA)

9. Company Website

10. International Monetary Fund (IMF)

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For the preparation of Global tire report, bottom-up model has been used, which has been later crossvalidated by using top down approach.

Vehicle Sales & Fleet Size

The basic data points that are needed for the analysis of Global tire market are the historical, current andforecast figures for vehicle sales and fleet size. The data for vehicle sales and fleet size has beenextracted through various secondary sources and credible data portals. TechSci Research has alsomaintained a database for vehicle sales and fleet size for each vehicle segment (passenger cars, lightcommercial vehicles, medium & heavy commercial vehicles, two-wheelers, three-wheelers & off-the-roadvehicles), which is regularly updated through various primary research surveys and secondary sourcessuch as automotive associations & government publications.

Vehicle Production

TechSci has gathered vehicle production data from credible sources such as ACEA, JATMA, SIAM, OICA,etc. TechSci Research has also maintained a database for vehicle production for each vehicle segment(passenger cars, light commercial vehicles, medium & heavy commercial vehicles, two-wheelers, three-wheelers & off-the-road vehicles), which is regularly updated through various primary research surveysand secondary sources such as automotive associations & government publications.

Tire Demand

OEM Tire Sales

Globally, OEM tire demand is directly dependent on country’s vehicle production. The OEM demand istherefore extracted by multiplying the vehicle produced with the number of tires fitted in the vehicle. Forexample, in case of passenger car, five tires are fitted by the OEM during manufacturing process.

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Tire Demand

Replacement Tire Sales

Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet size andhistorical vehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleetwith the replacement tire ratio, which is obtained by conducting a series of surveys with car owners tounderstand the frequency of tire replacement as it varies for different countries depending upon factorssuch as road conditions, climate, economic and regulatory policies applicable in a country. Thereplacement ratio is expressed as a percentage. For example, in case of passenger cars, replacementratio is considered to be 100% if four tire is replaced per vehicle per year.

Example for passenger car replacement tire demand calculation:

Passenger Car

Fleet Size

(Volume)

XReplacement Ratio

(%)X No. of Tires =

Replacement

Tire Demand

1,00,000 X 10% X 4 = 40,000 Tires

The calculated replacement tire demand data is further analyzed by TechSci Research through Delphitechnique i.e. multiple rounds of telephonic interviews were conducted with tire companiesdealers/distributors at global level. The information thus gathered through primary interviews was cross-verified through industry experts and secondary sources such as annual reports and paid databases togenerate meaningful results.

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OEM Tire Sales +Replacement Tire

Sales= Total Tire Market

Total Tire Market

Forecast

For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis, followedby judgmental analysis as certain factors would always differ from country to country such asinfrastructure condition, economic outlook, technology penetration, etc.

I n d u s t r y B r i e f

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Global Tire Market to Grow at CAGR 8.4% till 2021

According to TechSci Research report, “Global Tire Market Forecast and Opportunities, 2021’’, global tire marketis forecast to grow at a CAGR of 8.4% in value terms during 2016-2021.. On the basis of vehicle type, the globaltire market is broadly classified into six categories – passenger car tire, light commercial vehicle (LCV) tire, mediumand heavy commercial vehicle (M&HCV) tire, two-wheeler tire, three-wheeler tire and the OTR tire. During 2011-2015, both automobile production and sales grew at sluggish pace, globally. Key reasons for weak demand can beattributed to Eurozone crisis and slump in the crude oil prices post 2013. As a result, the global automobileproduction and sales grew at a CARG of 1.37% and 2.59%, in the volume terms, during 2011-2015, respectively.Backed by slow growth in automobile production and sales, the global automobile fleet (excluding two-wheelerand three-wheeler) exhibited a CAGR of 3.79% during the same period.

Crude oil prices declined from above US$ 100 per barrel levels in 2011 to sub US$ 50 per barrel levels in 2015,thereby exhibiting a negative CAGR of over 16% during 2011-2015. As a result, the Middle-East region witnesseddecline in the revenue generated from the oil sector. As a result, expenditure for construction and infrastructuresectors shrunk, which impacted the sales of OTR, LCV and M&HCV vehicles and related products such as tiresacross the region. Further, in 2009, Europe suffered one of the worst economic meltdowns, commonly referred toas the Eurozone Crisis. Though the crisis impacted the entire region, Portugal, Italy, Ireland, Greece and Spainwere among the most severely affected countries. The European economy suffered a slump, and multiple publicas well as private banks declared bankruptcy, which impacted various sectors, consequently restraining growth inEurope’s automobile and related components market over the last five years. However, the region witnessed signsof revival in 2013 due to several bailout packages offered by the European Union and the International MonetaryFund (IMF).

“The global automobile market is poised to grow at a brisk pace over the next five years, backed by anticipatedstabilization of crude oil prices and growth in the global economy, which is expected to augment demand forautomobiles and increasing consumer spending, and consequently, boost sales of tire in the coming years.” saidMr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

https://www.techsciresearch.com/report/global-tire-market-forecast-opportunities-2021/734.html

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Global Tire Production, By Region, By Country, By Company & Plant Location, 2014

Asia-Pacific

S. No. Company LocationYear of

Establishment

Type of Tire Manufacturer

Total Estimated Capacity (Million

Units/Year OR

Tonne/Year)

Country 1

1. Company 1 XXXX XXXX XXXX XXXX

2.Company 2

XXXX XXXX XXXX XXXX



Country 2





S a m p l e D a t a - S n a p s h o t

Global Tire Market Size, By Value (USD Billion), By

Volume (Million Units), 2011-2021F

1000 1100 1200 1300 1400 1600 1700 1800 1900 2000 2100

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Billion) Volume (Million Units)

50 75 100 125 150 200 225 250 275 300

Global Passenger Car Tire Market Size, By Value (USD

Billion), By Volume (Million Units), 2011-2021F

1000 1100 1200 1300 1400 1600 1700 1800 1900 2000 2100

2011 2012 2013 2014 2015 2016E2017F2018F2019F2020F2021F

Value (USD Billion) Volume (Million Units)

50 75 100 125 150 200 225 250 275 300

Global Tire Market Share, By Vehicle Type, By

Volume, 2011-2021F

4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4%

9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9%

14% 14% 14% 14% 14% 14% 14% 14% 14% 14% 14%

19% 19% 19% 19% 19% 19% 19% 19% 19% 19% 19%

24% 24% 24% 24% 24% 24% 24% 24% 24% 24% 24%

30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%

Passenger car Two-Wheeler LCV

M&HCV OTR Three-Wheeler

India Tire Market Share, By Vehicle Type, By Volume, 2011-2021F

4% 4% 4% 4% 4% 4% 4% 4% 4% 4% 4%9% 9% 9% 9% 9% 9% 9% 9% 9% 9% 9%

14% 14% 14% 14% 14% 14% 14% 14% 14% 14% 14%

19% 19% 19% 19% 19% 19% 19% 19% 19% 19% 19%

24% 24% 24% 24% 24% 24% 24% 24% 24% 24% 24%

30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Two wheeler PC M&HCV LCV Three Wheeler OTR

R e p o r t O r d e r i n g

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About Us

TechSci Research is a global market research and consulting company with offices in US, UK and India. TechSci Research provides

market research reports in a number of areas to organizations. The company uses innovative business models that focus on improved

productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-

specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and

global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich

evaluation of the opportunities available in the market.

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Global Three-Wheeler Market Forecast & Opportunities, 2020

Australia Tire Market Forecast & Opportunities, 2021

Partial List of Clients

Disclaimer

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is madethat it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from varioussources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness ofany information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially statesthat it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts,can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internalconsumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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