Pirelli Planning to Enhance its LT Tire Share in North America
United
States: Pirelli Tire
North America Inc. (PTNA), is targeting to boost its market share in the light
trucks & SUV tire segment across North America. The company is planning to roll
out new tires, Scorpion A/T Plus and Scorpion Zero A/S Plus in varied sizes, by
2017. Both the tire ranges, is expected to grab around 95% of segment market in
the region.
As per Pirelli’s spokesperson, Scorpion
A/T Plus would be launched in the regional market by second half of 2017, with size,
ranging from 18 to 22 inches and Scorpion Zero A/S Plus would be available in
20 different sizes by second quarter of 2017. Furthermore, these products would
be sold primarily in United States and Canada.
PTNA aims to grasp a larger market share
in Western United States and Central parts of Canada. Moreover, Pirelli’s P
Zero strategy is focusing mainly on premium & prestige OEM car brands.
Besides that, the company is strongly in favour, to improve its push-marketing strategy
with its new light trucks (LT)/SUV tire lines.
As per TechSci Research, PTNA is
directly targeting, one of the largest vehicle tire segment in the North
American region. By launching its two new products in LT/SUV segment, the
company is focusing a huge customer base in United States as well as Canada, which
is likely to drive the demand for the company’s new tires in coming years in
North America.
According to a recent report published
by TechSci Research, “United
States Tire Market Forecast & Opportunities, 2021”, demand for tires in the United States is
forecast to grow at a CAGR of over 5%, in volume terms, during
2016-2021. The vehicle fleet of the country is dominated by passenger car
segment, followed by light commercial vehicles, medium and heavy commercial
vehicles, off-the-Road (OTR) vehicles and two-wheeler segment. Thus, the
passenger car tire segment held the largest volume share in the country’s tire
market in 2015, and its dominance is anticipated to continue during the forecast period as well.