German luxury car manufacturers Daimler and BMW have joined forces to expand their businesses in new services such as car-sharing and electric vehicle to compete with the increasing competition such as Uber in the United States and Didi Chuxing in…
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OTR tyres predicted to reach US$7.68 billion by 2025
According to a recent report by ResearchAndMarkets.com, the off-the-road (OTR) tyres marketis predicted to reach US$7.68 billion by 2025. The market was valued at US$5.34 Billion in 2017 and is projected to grow at a CAGR of 4.64% during the forecast period. The…
RNR signs deal to expand franchise in Georgia and Alabama, US
RNR Tire Express (RNR), the US’s fastest-growing tyre and custom wheel franchise, has inked a franchise deal to bring 16 new locations to parts of Georgia and Alabama, US, over the next six years. The business partners behind the deal, Mike Hultquist and Grant Wetherill of OzarkGa, LLC,…
Global rubber gloves market predicted to reach total market size of US$3.714 billion by 2023
The global rubber gloves market is anticipated to witness a compound annual growth rate of 7.95% during the forecast period to reach a total market size of US$3.714 billion by 2023, increasing from US$2.347 billion in 2017. Growing global healthcare industry is one of…
Industrial rubber market growth steady at 4.6% CAGR to 2022
The industrial rubber market is predicted to reach US$33.82 billion by 2022 from US$26.99 billion in 2017 at a CAGR of 4.6%. The growth is driven by the increasing demand from the automotive and building and construction industries in the Asia Pacific, as the region…
Toyoda Gosei to set up auto subsidiary
Toyoda Gosei Co., Ltd. has decided to establish a subsidiary company in Kyushu, Japan and transfer its automotive parts business in that region to the subsidiary. Toyoda Gosei currently has three manufacturing plants in Kyushu (Fukuoka Plant, Saga Plant, Kitakyushu…
CFAO and Michelin enter into joint venture to market high-quality tyres in Uganda and Kenya
CFAO and Michelin announced recently that they have concluded an agreement for the import and distribution of premium quality tyres in Kenya and Uganda. The joint venture is owned 51% by CFAO and 49% by Michelin. The governance is equally…
Hankook expands tyre plant in Budapest
The Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó announced recently that South Korea’s Hankook Tire Magyarország will begin its fourth phase of expanding its plant in Rácalmás, southwest of Budapest, this year. The fourth phase will cost HUF…
Pirelli announces EUR250 million investment for its 2017-2020 industrial plan in Latin America
Pirelli’s Executive Vice Chairman and CEO Marco Tronchetti Provera recently announced that the tyre manufacturer has invested EUR250 million into its Latin American market. He said this is part of an industrial plan from 2017 to 2020. The investments will…
Upcoming Tyrexpo Africa and GarageXpo Africa to offer maximum value to both sellers and buyers of African tyres
Over 2,500 international, regional and local attendees comprising of tyre manufacturers, OEMs, distributors, dealers, retailers fleet operators and garage owners will gather at Tyrexpo Africa (co-located with GarageXpo Africa), to be held at the Gallagher Convention Centre Hall 2, Johannesburg…