Noida, UP India (PressExposure) April 06, 2011 -- According to our new research offering "US Tyre Industry Analysis", the US has been at the forefront of the tyre industry developments. Huge R&D investments along with soaring domestic demand has expanded the industry's footprints across the nation and positioned the US as tyre market hub in the North American region. The global tyre majors have acknowledged the US market potentials and are currently formulating strategies to increase their production capacities. The report further revealed that, the industry will achieve around 4.2% CAGR growth during 2011-2014, which will sustain the US market's attractiveness for both domestic and foreign investments.
The study identified that, the year 2009 proved disappointing for the industry and economic crisis dented tyre demand-supply mix significantly. Manufacturers put on halt their capacity expansion plans and even closed several plants, which were not costs competitive. The industry witnessed remarkable recovery in 2010 and in the wake of increasing tyre demand, the supply side also rejuvenated. It is anticipated that industry will continue to post staggering growth performance backed by various market trends and drivers discussed and analyzed in the report.
Further, despite such a promising future growth prospects, there are some factors, which can affect the growth trajectory of the tyre industry. For instance, the industry is highly raw material intensive and any fluctuation in raw material availability leads to substantial price fluctuation in tyre production costs. Among the ingredients, natural rubber accounts for the most dominating share and country needs to maintain its sufficient supply to the tyre industry to propel tyre industry developments.
Our report "US Tyre Industry Analysis" has been authored to evaluate the future growth potential of the tyre industry and its segments in the US. It provides statistics and information on market structure, tyre production, and demand by segments, exports, and imports trends. Tyre demand projections have been provided for all prominent industry segments, such as passenger tyres, light truck tyres, medium & heavy truck tyres and agriculture/forestry tyres, which facilitate cutting edge market intelligence to clients while making investment decisions.
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