Tire Logistics Market: Introduction
- Tire logistics comprises transportation, warehousing, and distribution of finished tires and raw materials from point of production to point of consumption. Tires are a key component of the automotive industry and involves a lot of industry participants ranging from raw material suppliers, tire manufactures, auto manufacturers, distributors, and retailers. Thus, the tire logistics market offers significant opportunity to tire manufacturers during the forecast period.
Key Drivers of Global Tire Logistics Market
- Tire manufacturers, which were earlier concentrated in developed countries, are expanding their presence in developing countries owing to a rise in vehicle sales in these countries. Import of chemicals, natural rubber, and unfinished tires has fueled the demand for tire logistics. Automakers are employing tire logistics service providers to manage in plant transport of unfinished goods/ raw materials and warehousing besides transport of final finished tires from the facility to other countries or distribution centers.
- Expansion of production facilities of tire manufacturers and auto manufacturers and improved global supply chain network is driving the tire logistics market
- Sustained economic growth and rapid urbanization have propelled the sale of vehicles, which in turn is driving the tire logistics market. Increase in consumer purchase parity in developing countries and increased demand for transport is boosting the sales of vehicles, thereby driving the tire logistics market.
- Advancements in digital technologies, use of GPS-enabled systems, business analytics, and telematics equipped trucks are emerging trends in the tire logistics market. Key players in the tire logistics market are developing IT infrastructure to optimize inventory management, transport, and distribution of tires.
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Passenger vehicle segment to hold dominant share of tire logistics market
- Passenger vehicle recorded highest annual sales, thereby contributing to the dominating share held by the segment of the tire logistics market. Rise in average age of vehicles and consumer awareness pertaining to replacement of worn out tires are anticipated to further boost the demand for tires and in turn drive the tire logistics market.
Asia Pacific to lead the global tire logistics market
- Asia Pacific dominated the global tire logistics market in 2019 owing to high production of tires in China, Japan, ASEAN, and India. Raw materials such as natural rubber, additives, and synthetic rubber are exported to Europe and North America contributing to the prominent share of Asia Pacific, in terms of revenue of the global tire logistics market. Presence of a large number of operational vehicles is contributing to significant demand for aftermarket distribution and transport and in turn drive the tire logistics market. Asia Pacific is followed by Europe and North America in terms of share of the global market.
Key Players Operating in Global Tire Logistics Market
The global tire logistics market has presence of a large number of players. A few of the key players operating in the global tire logistics market are:
- Kuehne + Nagel
- CEVA Holdings
- DB Schenker
- Ryder System
- SEKO Logistics
- FedEX Supply Chain
- Kerry Logistics
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Global Tire Logistics Market: Research Scope
Global Tire Logistics Market, by Tire Type
- Truck Tire
- Bus Tire
- Car Tire
Global Tire Logistics Market, by Application
Global Tire Logistics Market, by Service
- Warehousing & Distribution
- In Plant Logistics
Global Tire Logistics Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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