Tires Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026

Tires Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026

  • Published: Feb 2022
  • Pages: 120
  • SKU: IRCMSTR21545

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Tires Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The tires procurement category is projected to grow at a CAGR of 3.18% during 2022-2026. The prices are outlined to rise by 2%-4% during the forecast period and suppliers will have moderate bargaining power in this market. Bridgestone, Compagnie Generale des Etablissements Michelin, and The Goodyear Tire & Rubber are a few of the key suppliers in the tires market.

Tires Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth AnalysisTires Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

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Who are the Top Suppliers in the Tires Market?

This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the tires procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading tires suppliers profiled extensively in this report include:

Top Suppliers in the Tires Market

Furthermore, this tires procurement market report provides a detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for tires requirements. In addition, most adopted and high potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.

What are the Most Suitable Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA that Buyers Should Consider?

The tires procurement market report provides a detailed analysis into various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline the procurement process, and reduce category TCO while sourcing for tires requirements.

Tires Market Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA

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What are the Most Adopted Procurement Strategies by Buyers Across Industries?

The report provides a detailed insight into the most adopted procurement strategies by buyers across industries and an analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings while sourcing for tires requirements.

What are the Major Pricing Models Adopted by Buyers in the Tires Market?

The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full tires procurement market report now to get comprehensive details on pricing models

Price Strategies and Benchmark

Tires Procurement Pricing Model

Request for a FREE sample to access the latest price forecasts, market drivers, TCO reduction opportunities for the tires market

To optimize the value of the purchase, it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects an incremental spend of $ 22.69 billion due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through analysis of the below factors:

  • Identify favorable opportunities in tires TCO (total cost of ownership)
  • Expected changes in price forecast and factors driving the current and future price changes
  • Identify pricing models that offer the most rewarding opportunities

What will the Spend Growth and Demand be by Region?

The tires market will register an incremental spend of about $ 22.69 billion during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!

The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:

  • Factors driving the growth (or lack of it) in individual geographies
  • Regions that hold the most rewarding opportunities for buyers and suppliers
  • Spend growth and regional spend segmentation over the coming years

Tires Procurement Spend Growth Analysis

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What are the Major Category Management Objectives for Tires Sourcing?

A targeted strategic approach to tires sourcing will provide several opportunities. However, in the absence of actionable intelligence on tires, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as top-line growth, scalability of inputs, and green initiatives, which will assist buyers to formulate a strategic procurement strategy

The report explains the following key category management objectives that should form the base for sourcing strategy.

Category Management Objectives for Tires Sourcing

To explore the extent of influence of category management objectives that can improve the efficiencies of the retailers, Request for a FREE Sample Report!

In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.

Scope of Tires

Report Specs

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Spend growth (CAGR)

3.18%

Incremental spend

$ 22.69 billion

Pricing growth outlook

2%-4%

Pricing models

Pay-per-use pricing model, Cost-plus pricing model, and Contract pricing model

Supplier selection scope

Provision of optimized inflation pressures for different vehicles from suppliers, Suppliers capability to provide tire size based on acceptable dimensional clearance, Suppliers ability to provide labeled tires, and Provision of warranty for tires

Supplier opportunities

Negotiate on pricing and contractual terms, Ad-hoc spend management, Adoption of automation, Quality management, Reducing inventory shrinkage, Supplier synergies, Reducing total ownership cost, Conference participation, and Managing commodity price volatility

Supplier selection criteria

Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Legal requirements, Quality control, Change management procedures, Pricing models, Penalty clauses, SLA nuances, and Acceptance criteria

Category management scope

Top-line growth, Scalability of inputs, Green initiatives, Category innovations, Supply base rationalization, Demand forecasting and governance, Adherence to regulatory nuances, Minimalization of ad hoc purchases, Cost savings, and Reduction of TCO

Top suppliers

Bridgestone, Compagnie Generale des Etablissements Michelin, The Goodyear Tire & Rubber, Continental, Pirelli, Sumitomo Rubber Industries, Hankook Tire & Technology, The YokohamaRubber, Cheng Shin Rubber Industry, and Zhongce Rubber Group

Market dynamics

Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East, and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years.

Customization scope

We can create customized sourcing/procurement reports with specific requirements for your business.

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Tires Procurement

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Executive Summary

    Market Insights

      Category Pricing Insights

        Cost-saving Opportunities

          Best Practices

            Category Ecosystem

              Category Management Strategy

                Category Management Enablers

                  Suppliers Selection

                    Suppliers under Coverage

                      US Market Insights

                        Category scope

                          Appendix

                            Research Framework

                            SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                            INFORMATION SOURCES

                            Primary sources

                            • Procurement heads
                            • Category managers
                            • Sourcing consortium professionals
                            • Industry experts and thought leaders
                            • Procurement managers
                            • Category heads of suppliers
                            • Client account heads/managers
                            • Client and industry consultants

                            Secondary sources

                            • Industry journals and reports
                            • Periodicals and new articles
                            • Category webinars
                            • Internal categiry playbooks
                            • Industry and government websites on regulations and compliance
                            • Internal databases
                            • Industry blogs/thought leader briefings

                            DATA ANALYSIS

                            Tires Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026
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                            The tires procurement market will grow at a CAGR of about 3.54% during 2020-2024.
                            During 2020-2024, the tires procurement market will register an incremental spend of about $ 46 billion.
                            Bridgestone Corp., Compagnie Générale des Établissements Michelin, The Goodyear Tire & Rubber Co., Continental AG, Pirelli & C. S.p.A., Sumitomo Rubber Industries Ltd., Hankook Tire & Technology Co. Ltd., The YokohamaRubber Co. Ltd., Cheng Shin Rubber Ind. Co. Ltd., and ZC-Rubber are some of the prominent suppliers in tires market.
                            Pay-per-use pricing model, cost-plus pricing model, and contract pricing model are the widely adopted pricing models in tires procurement.
                            During the forecast period, the price for tires procurement will increase by 2%-4%.