The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Market Overview
Improved performance of the vehicles is one of the major factor driving the growth of the market. Nitrogen is more compatible with rubber and does not corrode like air containing oxygen and water vapor does. It is a non-flammable, non-toxic, property-free, non-reactive substance that is very less likely to travel through the tire rubber than the oxygen does. Hence, the tire pressure remains more stable over the longer period of time. Nearly 98% of nitrogen is used in the tubeless tires globally.
Nitrogen gas is considered to be cooler than the compressed air and hence, it is useful in any driving conditions. Due to the lesser temperature, the tread wear and tear is also lesser. After long travelling, higher temperature in tires also has a tendency to burst. Nitrogen reduces 90% chances of the tire burst. These factors might lead to being a lifesaver even as on the highway where high speed and long hours, together pose a threat to the car and its passengers.
Segment Overview
Rising demand for personal cars as well as other types of automobiles is creating plenty of opportunities for tire gas manufacturers to realize the automotive safety and production efficiencies. Due to the considerable benefits of nitrogen gas especially used in tubeless tires, the tire gas market is predicted to witness healthy growth in the coming future.
90 percent of all tire failures are a result of under inflation, mainly due to the internal heat build-up, due to under inflated tyre, for longer time. According to government statistics. Underinflated tires results into overheating as they can't maintain their proper shape, becoming flatter than intended while in contact with the road. Tires which are underinflated by just a few pounds might suffer from a weakening of their internal structure and can results into serious tyre failures.
Regional Overview
Highly developed industries and presence of major market players in the region are the major reasons for positioning the market as a leader in the global tire nitrogen inflation market. Although, experts recommend checking the car’s tire pressure weekly. Studies have shown that the majority of drivers rarely check their tyre pressure. Usually only refill their tyres when the air is visibly low or the tyre is running out of air. About 94 percent of cars in this region have under-inflated tires, wasting some 2.14 billion gallons of high-priced, polluting fuel every year. Furthermore, in June 2017 the Air Product and Linde North America Inc. announced a joint venture named East Cost Nitrogen (ECN) which invests in a new air separation unit (ASU) and gas liquefier in Glenmont, New York.
Market player’s key strategic move such as partnership and joint ventures in this region are anticipated to maintain the position of this region as a major revenue generating market.
Competitor overview
As a result, due to tough competition among major market players in this sector, currently, manufacturers are using quality and distribution as their major marketing strategies. They are also constructing nitrogen gas plant, whose cost depends upon a number of factors including technology, design, quality, after-sales service, etc. As the nitrogen gas is used for delicate purposes, a supplier may lose its business for the wrong supplies. Replacement is one of the important services that the companies provide to their customers to gain customer satisfaction and loyalty. But till now very few cases are observed regarding bad services of the nitrogen tire inflation. Hence, distribution of this gas holds 30-35% value of total value chain process.
Key Players
- Parker-Hannifin Corporation
- Novair Industries
- Air Liquide International S.A
- Linde Engineering
- Air Products and Chemicals, Inc.
- Praxair, Inc.
- Peak Scientific Instruments Ltd.
- Proton Onsite
- Holtec Gas Systems
- Hitachi Industrial Equipment Systems Co., Ltd.
Market Segmentation
Application
- Aircraft
- Commercial Fleet
- Mining Vehicles
- Passenger Vehicles
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- Rest of LAMEA
1 Executive Summary 12
2 Market Introduction 14
- 2.1 Definition 15
- 2.2 Scope of the Study 15
- 2.3 List of Assumptions 16
- 2.4 Market Structure 16
3 Research Methodology 17
- 3.1 Research Process 18
- 3.2 Primary Research 19
- 3.3 Secondary Research 20
- 3.4 Market Size Estimation 20
- 3.5 Forecast Model 21
4 Market Dynamics 22
- 4.1 Introduction 23
- 4.2 Drivers 24
- 4.2.1 Longer Average Life Spans of Vehicles 24
- 4.2.2 Growing Demand for High-Performance Tires 25
- 4.2.3 Drivers Impact Analysis 26
- 4.3 Restraints 27
- 4.3.1 Particulate Matter Emissions by Tires 27
- 4.3.2 Rising Crude Oil Prices to Hit Tire Manufacturers 27
- 4.3.3 Growing Need to Lower Prices 27
- 4.3.4 Restraints Impact Analysis 28
- 4.4 Opportunities 28
- 4.4.1 Emerging Economies Present Opportunities 28
5 Market Factor Analysis 29
- 5.1 Value Chain Analysis 30
- 5.1.1 Raw Material Supply 30
- 5.1.2 Manufacturing 30
- 5.1.3 Distribution 30
- 5.1.4 End-Users 31
- 5.2 Porter’s Five Forces Model 31
- 5.2.1 Threat of New Entrants 31
- 5.2.2 Bargaining Power of Suppliers 32
- 5.2.3 Bargaining Power of Buyers 32
- 5.2.4 Threat of Substitute 32
- 5.2.5 Segment Rivalry 32
6 Global Automotive Tire Market, By Type 33
- 6.1 Overview 34
- 6.1.1 Radial 34
- 6.1.1.1 Passenger Car Radial 34
- 6.1.1.2 Bus Radial 34
- 6.1.1.3 Truck Radial 34
- 6.1.2 Bias 34
- 6.1.1 Radial 34
7 Global Automotive Tire Market, By Section Width 36
- 7.1 Overview 37
- 7.1.1 <200 Mm 37
- 7.1.2 200-230mm 37
- 7.1.3 >230mm 37
8 Global Automotive Tire Market, By Vehicle Type 39
- 8.1 Overview 40
- 8.1.1 Passenger Car 40
- 8.1.2 Commercial Vehicle 40
9 Global Automotive Tire Market, By End Market 42
- 9.1 Overview 43
- 9.1.1 OEM 43
- 9.1.2 Aftermarket 43
10 Global Automotive Tire Market, By Region 45
- 10.1 Introduction 46
- 10.2 North America 47
- 10.2.1 U.S. 49
- 10.2.2 Canada 51
- 10.3 Europe 52
- 10.3.1 Germany 55
- 10.3.2 U.K. 56
- 10.3.3 Spain 57
- 10.3.4 France 59
- 10.3.5 Rest of Europe 61
- 10.4 Asia Pacific 62
- 10.4.1 China 65
- 10.4.2 Japan 66
- 10.4.3 India 67
- 10.4.4 Rest of Asia Pacific 69
- 10.5 Rest of the World 70
- 10.5.1 Middle East & Africa 72
- 10.5.2 Latin America 74
11 Competitive Landscape 76
- 11.1 Competitive Landscape 77
- 11.2 Competitive Benchmarking 78
- 11.3 Market Share Analysis 78
- 11.4 Major Key Growth Strategies 79
12 Company Profile 82
- 12.1 Bridgestone Corporation 83
- 12.1.1 Company Overview 83
- 12.1.2 Financial Overview 83
- 12.1.3 Services Offerings 84
- 12.1.4 Key Developments 84
- 12.1.5 SWOT Analysis 84
- 12.1.6 Key Strategy 84
- 12.2 Michelin Group 85
- 12.2.1 Company Overview 85
- 12.2.2 Financial Overview 85
- 12.2.3 Services Offerings 86
- 12.2.4 Key Developments 86
- 12.2.5 SWOT Analysis 86
- 12.2.6 Key Strategy 86
- 12.3 The Goodyear Tire & Rubber Company 87
- 12.3.1 Company Overview 87
- 12.3.2 Financial Overview 87
- 12.3.3 Products Offerings 88
- 12.3.4 Key Developments 91
- 12.3.5 SWOT Analysis 91
- 12.3.6 Key Strategy 91
- 12.4 Continental AG 92
- 12.4.1 Company Overview 92
- 12.4.2 Financial Overview 92
- 12.4.3 Products Offerings 93
- 12.4.4 Key Developments 93
- 12.4.5 SWOT Analysis 94
- 12.4.6 Key Strategy 94
- 12.5 Hankook Tire Co., Ltd. 95
- 12.5.1 Company Overview 95
- 12.5.2 Financial Overview 95
- 12.5.3 Products Offerings 96
- 12.5.4 Key Developments 98
- 12.5.5 SWOT Analysis 98
- 12.5.6 Key Strategy 98
- 12.6 Cooper Tire & Rubber Company 99
- 12.6.1 Company Overview 99
- 12.6.2 Financial Overview 99
- 12.6.3 Products Offerings 100
- 12.6.4 Key Developments 101
- 12.6.5 SWOT Analysis 102
- 12.6.6 Key Strategy 102
- 12.7 Sumitomo Rubber Industries, Ltd. 103
- 12.7.1 Company Overview 103
- 12.7.2 Financial Overview 103
- 12.7.3 Services Offerings 104
- 12.7.4 Key Developments 104
- 12.7.5 SWOT Analysis 104
- 12.7.6 Key Strategy 104
- 12.8 Toyo Tire & Rubber Co., Ltd. 105
- 12.8.1 Company Overview 105
- 12.8.2 Financial Overview 105
- 12.8.3 Services Offerings 106
- 12.8.4 Key Developments 106
- 12.8.5 SWOT Analysis 106
- 12.8.6 Key Strategy 106
- 12.9 Yokohama Rubber Co. Ltd. 107
- 12.9.1 Company Overview 107
- 12.9.2 Financial Overview 107
- 12.9.3 Services Offerings 108
- 12.9.4 Key Developments 108
- 12.9.5 SWOT Analysis 108
- 12.9.6 Key Strategy 108
- 12.10 Pirelli 109
- 12.10.1 Company Overview 109
- 12.10.2 Financial Overview 109
- 12.10.3 Services Offerings 110
- 12.10.4 Key Developments 110
- 12.10.5 SWOT Analysis 110
- 12.10.6 Key Strategy 110
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
