Global Tires Market is anticipated to reach US$ 169.06 Bn by 2029 from US$ 121.64 Bn in 2021 at a CAGR of 4.2% during a forecast period.

Tires Market Overview:

The global market report provides Key trends that are clearly and compactly summarised. The foremost current analysis on the market perceives and assesses competitive threats and arranges company strategies with our analysis, insight and assured growth projections. The report further states market size, market share and it also focuses on global, regional and company levels.

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Market Scope:

The report helps in understanding clients’ interests what quantity do your potential clients’ pay annually on the categories of product or services you intend to supply and the way massive is that the potential marketplace for your business. The MMR analysis additionally aids within the comprehension of the Tires Market dynamics and structure by finding out market segments and predicting market size. The analysis is an associate investor's guide as a result of it clearly depicts a competitive analysis of key corporations within the Market by sort, price, condition, product portfolio, growth plans, and regional presence.

COVID-19 Impact Analysis on Tires Market:

COVID-19 presented the world with associated new economic, humanitarian, and tending challenges. The rapid unfolding of the sickness has crystal rectifier to a major impact on the worldwide market, with a worsening in demand for brand new and recent vehicles. Moreover, throughout the tip of 2021, matters came up to speed in some countries, the demand & supply gap was fulfilled, leading to progressive growth.

Tires Market Segment:  

The Passenger Cars Tires category led the market by Vehicle Type, accounting for US$ Bn in 2021 and projected to expand at a CAGR of 4.3%. The market for passenger automobiles is dominated by the United States, which will account for 27% of global sales in 2020. Global demand for innovative features, an improvement in living standards, and an increase in per capita income are some of the reasons driving the growth of the passenger car tyre market. Additionally, during the projection period, the market for passenger automobiles is predicted to rise due to consumers' growing demand in safe, high-end, luxurious, and comfortable vehicles.

With a market value of US$ Bn in 2021 and growth predicted to occur at a CAGR of 4.3%, the Passenger Cars Tires segment led the market by Vehicle Type. With 27% of global sales in the passenger automobile segment in 2020, the United States is the market leader. Some of the factors driving the expansion of the passenger vehicle tyres market globally include rising standards of living, rising per capita income, and rising demand for innovative features. Additionally, it is anticipated that during the forecast period, consumer interest in safe, high-end, luxurious, and comfortable vehicles will continue to expand.

Tires Market Key players: 

• Apollo Tyres Ltd
• Avon Tyres
• Bridgestone Corporation
• Cheng Shin Rubber Ind. Co. Ltd
• Continental AG
• Cooper Tire & Rubber Company
• Giti Tire Pte. Ltd
• Goodyear Tire & Rubber Company
• Hankook Tire Co., Ltd
• JK Tyre & Industries Ltd
• Kumho Tire Co., Inc
• Maxxis International
• Michelin
• Nexen Tire Corporation
• Nokian Tyres Oyj
• Pirelli & C. S.p.A
• Shandong Linglong Tire Co., Ltd

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Reasons to Purchase Tires Market Report: 

1. Necessary changes in Tires market dynamics
2. What is the market situation in different countries according to regional analysis?
3. Current and way forward for market outlook within the rising and emerging markets.
4. Analysis of different aspects of the market with the help of Porter's five forces analysis.
5. The segment that is expected to dominate the market.
6. Identify the latest developments, global market shares, and strategies employed by the major market players.
7. Former, ongoing, and projected market analysis in terms of volume and value

Besides, the market study affirms the leading players worldwide within the market. Their key promoting strategies and advertising techniques have been to supply a transparent understanding of the market.

Regional Analysis:

Geographically, this report is segmented into several key Countries, with market size, growth rate, import and export of Tires market in these countries, which covers North America (U.S., Canada, Mexico), Europe (UK, Germany, France, Spain, Italy, Rest of Europe) Asia Pacific (China, India, Japan, Australia, South Korea) ASEAN Countries, Rest of APAC, South America (Brazil), Africa, and the Middle East.

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