By Siwaporn Bumroongpan
29 June 2010 – The demand for global tyre sales volume will continue to recover in 2010 boosted powerfully by industry performance which impacted the tyre sectors to reach a turning point after a downturn trend in 2008 and 2009, but still below the 2007 level due to the rising natural rubber prices.
New tyre sales in the consumer market are expected to increase 21% from 2009 in the U.S. and 5% in Europe whilst new tyre sales in the commercial market are expected to grow 7.5% in the U.S. and 40% in Europe.
Consumer replacement tyre sales growth in U.S. is projected at less than 1% while in Europe it should rise at least 1%.
Tyre demand in the rest of the world is expected to grow in line with the economic development of the developing countries like China and India, which are forecasted to grow at 9.9% and 7.8%, respectively.
About 54% of the $140 billion global tyre market is shared between the five major tyre companies, namely Bridgestone Corp. of Japan, Michelin SCA of France; Continental AG of Germany, U.S.-based Cooper Tire & Rubber Co. and Goodyear Tire & Rubber Co.
(Irco.biz)
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