A rubber-covered circular vehicle component that covers the rim of the wheel from the outside is known as an automotive tyre. The fundamental function of the tyre is to protect the wheel rim while also providing tractive force between the vehicle and the road surface. It also acts as a flexible cushion, reducing the impact of vibrations and absorbing the vehicle's shock because it is constructed of rubber.
Automotive Tire Market Scope:
The most recent developments, regulatory frameworks, trade analysis, business models, supply chain utilization, market dominance, the impact of domestic and localized market participants, assessments of potential revenue spots, regulatory shifts, tactical industry growth analysis, sales volume, categorical market growth, implementation niches and dominance, product releases, global coverage, and product latitude are all covered in this market. Contact Stellar Market Research and request an Analyst Brief to learn more about the Automotive Tire market. In order to achieve market growth, our personnel will assist you in making informed market decisions.
Automotive Tire Market Overview:
The research is based on extensive Automotive Tire market research, qualitative and quantitative market assessments by industry experts, and feedback from field personnel and supply chain actors. The research looks into parent market trends, macroeconomic data, regulatory variables, and the attractiveness of segment markets. In addition, the study demonstrates the qualitative impact of key market factors on market segments and geographies.
Automotive Tire Market size was valued at US$ 118 Billion in 2020 and the total Automotive Tire Market revenue is expected to grow at 6.32% through 2021 to 2027, reaching nearly US$ 181.21 Billion.
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Key Players:
The market's leading players are embracing various growth strategies, such as partnerships and strategic alliances, as well as new product launches, to increase their presence in emerging markets and, ultimately, to broaden their customer base.
Some of the key players in the Automotive Tire market are as follows:
The Goodyear Tire & Rubber Company (USA)
Pirelli & C.S.p.A. (Italy)
Apollo Tyres Ltd. (India)
CEAT Ltd. (Italy)
China National Tire & Rubber Co. Ltd. (China)
Cooper Tire & Rubber Co., Ltd. (UK)
Giti Tire (Singapore)
Bridgestone Corporation (Japan)
Continental AG (Germany)
Michelin (France)
Sumitomo Rubber Industries, Ltd. (Japan)
Toyo Tire & Rubber Co., Ltd. (Japan)
Yokohoma Tire Corporation (Japan)
Maxxis International (Taiwan)
Cheng Shin Rubber Industry Co. (China)
Hangzhou Zhongce Rubber Co., Ltd. (China)
Hankook Tire (South Korea)
JK Tyre & Industries Ltd. (India)
Kumho Tire Co., Inc. (South Korea)
Nexen Tire Corporation (South Korea)
Nokian Tyres plc (Finland)
Qingdao Fullrun Tyre Corp., Ltd. (China)
Regional Analysis:
Individual market influencing factors and changes in market regulations that affect current and future marketing tactics are also discussed in the country-focused discussion of the Automotive Tire market study. Some of the major factors used to forecast the market scenario for specific countries are consumer volumes, processing facilities and inventories, shipping analysis, price prediction modeling, raw material prices, and upstream and downstream value chain analysis. The availability and affordability of global brands, as well as the challenges they face due to large or limited competition from local and domestic producers, the effect of local tariffs, and shipping routes, are all taken into account while providing forecast analysis of national data.
COVID-19 Impact Analysis on Automotive Tire Market:
The COVID-19 outbreak significantly and for an extended period of time reduced production efficiency, while travel bans and factory closures kept people away from their businesses, causing the Automotive Tire market to slow in 2020. The new study examines the impact of the pandemic on the Automotive Tire market, as well as observations, research, estimates, and projections. The Stellar Automotive Tire Market Research report investigates customer behavior following the virus, as well as its impact on the Automotive Tire market's outlook, classification, trends, and economic constraints.
Key Questions Answered in the Automotive Tire Market Report are:
- What are the drivers motivating overall Automotive Tire market advancement in the upcoming period?
- What revenue potential is estimated from the Automotive Tire market’s transactions in the years ahead?
- What CAGR potential is forecasted for the Automotive Tire market in the approaching period?
- Who are the significant contenders functioning in the Automotive Tire market?
- Which region is leading the global Automotive Tire market share at the end of the forecast period?
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