Market and product
Global: Michelin outlines strong tyre market growth
Michelin's latest review of global tyre markets shows that demand in most regions and in key sectors – passenger car and truck, original equipment and replacement – is continuing to accelerate, in comparison with the weak conditions seen in the first half of 2009.
In the passenger car and light truck markets, Michelin reports that April 2010 original equipment demand in Europe (excluding Russia but including Turkey), North America and China rose 21.2%, 45.8% and 34.4%, respectively, versus April 2009. Replacement demand in the same regions was up 13.4%, 12.4% and 34.1%, respectively.
In the first four months of 2010, original equipment demand in Europe is reported to have risen 33.6% with replacement demand up 10.4%, while in North America the increases were 64.7% and 9.7%. China was the best performing market in both sectors, with original equipment tyre demand up 66.5% and replacement demand up 24.8%.
In the truck market, a strong rebound in original equipment tyre demand was evident in a number of regions. In Europe, April 2010 demand was ahead 58.8% of the April 2009 level, while in North America and Brazil the rises were 40.8% and 60.1%, respectively. However Japan registered the largest gain – at 160.9% - while China turned in a much more modest performance, demand improving 15.6% versus the April 2009 level. In the replacement market, demand in Europe, North America and Brazil rose 22.7%, 37.2% and 22.7%, respectively, while in Japan and China the increases were 15.2% and 11.9%.
In the January-April 2010 period, truck tyre demand in the original equipment sector rose 10.7% versus the same period of the prior year, with replacement demand ahead 34.7%. In North America, original equipment and replacement demand was up 18.1% and 24.7%, respectively, while in Brazil the rises were 55.6% and 32%. Original equipment demand in Japan rose 106.5% in the first four months of 2010, but replacement demand was up just 14.4%, while in China the rises were 17.2% and 13.4%.
(Source: www.automotiveworld.com)
