Fact.MR has published a new study titled “Automotive Tire Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”, which sheds light on the overall market scenario prevailing in the automotive tire sector. Based on this assessment, the automotive tire market is likely to register steady growth during the forecast period until 2022. Some of the prime facets motivating revenue growth in the global automotive tire market include enhanced tire performance, launch of innovative products and surging tire production.
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“Miles driven in the U.S. have been rising annually, and with more rubber hitting the road, tire sales have benefited, particularly in the e-commerce channel. Online dollar sales of tires grew by 34% in the 12 months ending December 2018, according to The NPD Group’s Checkout E-commerce Tracking. The tire category alone outpaced e-commerce growth for the total market of automotive products, which was up 33% for the year.”
“Winter is tough on tires: Road conditions can be brutal, and temperature swings can often mean your tires have become badly deflated, says Consumer Reports. As spring emerges, potholes often blossom and create their own risks to your tires. That makes this a great time to spend a few minutes checking your tires and making pressure corrections as needed.”
“For consumers, tires and wheels continue to be one of the first, best and most basic ways to personalize a passenger car or light truck,” Mike Imlay wrote for SEMA News. “And through a variety of performance and style options aimed at every taste, the specialty-equipment industry stands readier than ever to fulfill their custom desires.”
“In the last 20 years performance tires have gotten bigger, faster, more expensive, and more important to the bottom line,” Joy Kopcha writes. “Since 1996 the number of performance tires in the domestic replacement market has increased 391%, from 15.7 million tires to 77.1 million in 2015.”
The Specialty Equipment Market Association, Wheel & Tire Council and Clemson UniversityÛªs International Center for Automotive Research together set out to understand the effects of plus-sizing ÛÓ the dynamics associated with the changing of wheels, offsets, tire sidewall heights, wheel diameters
Run-flat tires are letting the Air Out of Customer Satisfaction. Customers with run-flat tires are less satisfied overall and replace tires more frequently in the first two years of ownership than do those with non-run-flat tires, according to the J.D. Power 2015 U.S. Original Equipment Tire Customer Satisfaction Study.
A highlight of the 49th annual Modern Tire Dealer Facts Issue is its comprehensive look at distribution channels. This year, car dealerships (8%) and warehouse clubs (9%) gained market share at the expense of mass merchandisers (13%).