Global Automotive Tire Market size was valued at USD 122.49 Bn. in 2021 and it is expected to reach US$ 189.42 Bn. by 2029, at a CAGR of 5.6% through out the forecast period.
Automotive Tire Market Overview
The report by Maximize Market Research focuses on the Automotive Tire market and provides an in-depth analysis by segments and sub-segments in global and regional markets. The report also includes drivers, restraints, and macro factors affecting the global and regional Automotive Tire markets in the medium and long run. The research includes an in-depth analysis of the global Automotive Tire market's trends, predictions, and monetary values. According to the report, between the years 2021 and 2029, the global Automotive Tire market is predicted to grow at a significant CAGR.
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Automotive Tire Market Scope
The report explores demand through forecasts period, market trends, and micro and macro determinants. Moreover, the research illustrates the variables that are driving and limiting the Automotive Tire market's growth. The MMR provides existing and new market participants insight into prospective investment opportunities in Automotive Tire market. To give market insights, the report employs analytical approaches such as Porter's five forces analysis and PESTLE of the Automotive Tire market. In addition, the study looks at current market trends as well as estimates for the years 2021-2029. The report identified important future developments that will have an impact on demand over the forecast period in the market.
Automotive Tire Market Segmentation
Passenger Cars, which accounted for roughly 48% of total revenue in 2021, led the industry. The economy, which is impacted by changes in currency rates, GDP growth, inflation rates, and governmental policies, heavily influences the demand for passenger cars. Furthermore, the demand for passenger cars is frequently impacted by changing fuel prices and transit infrastructure. Future PC demand is projected to increase due to both the United States' improving economic outlook and the growth of emerging nations like China and India.
Due to their excellent steering and improved road contact, low heat generation during use, and flexible side walls, radial tyres currently hold a market share of almost 70% in terms of revenue. Radial tyres also support the growing need for comfort when operating heavy-duty vehicles since they produce traction quickly. Additionally, the primary driver fueling the segment's growth is the greater resistance offered by radial tyres to tread-related problems.
Due to the benefits that the tyre types offer to trucks and buses of different weight categories, the radial tyres category is developing at the fastest rate among the segments, at about 7% CAGR.
- Global Automotive Tire Market: Research Methodology
- Global Automotive Tire Market: Executive Summary
- Market Overview and Definitions
- Introduction to Global Automotive Tire Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Automotive Tire Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Global Automotive Tire Market Segmentation
- Global Automotive Tire Market, by Type (2021-2029)
- Global Automotive Tire Market, by Section Width (2021-2029)
- Global Automotive Tire Market, by Sales channel (2021-2029)
- Global Automotive Tire Market, by Material (2021-2029)
- Global Automotive Tire Market, by Aspect Ratio (2021-2029)
- Regional Automotive Tire Market(2021-2029)
- Regional Automotive Tire Market, by Type (2021-2029)
- Regional Automotive Tire Market, by Section Width (2021-2029)
- Regional Automotive Tire Market, by Sales channel (2021-2029)
- Regional Automotive Tire Market, by Material (2021-2029)
- Regional Automotive Tire Market, by Aspect Ratio (2021-2029)
- Regional Automotive Tire Market, by Country (2021-2029)
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Automotive Tire Market Key Players
• Bridgestone Corporation
• Continental AG
• Michelin
• The Goodyear Tire & Rubber Company
• Pirelli & C.S.p.A.
• Apollo Tyres Ltd.
• CEAT Ltd.
• China National Tire & Rubber Co. Ltd.
• Cooper Tire & Rubber Co., Ltd.
• Giti Tire
• Hangzhou Zhongce Rubber Co., Ltd.
• Hankook Tire
• JK Tyre & Industries Ltd.
• Kumho Tire Co., Inc.
• Nexen Tire Corporation
• Nokian Tyres plc
• Qingdao Fullrun Tyre Corp., Ltd.
• Sumitomo Rubber Industries, Ltd.
• Toyo Tire & Rubber Co., Ltd.
• Yokohoma Tire Corporation
• Maxxis International
• Cheng Shin Rubber Industry Co.
Regional Analysis
The research report gives a detailed analysis of the Automotive Tire market that is divided into regions. The report includes an evaluation of regional market participants operating in the competitive market, as well as findings existing in the target market. Based on the regional and country by-country, the research evaluates the market in North America, Latin America, Europe, Asia Pacific (APAC), Africa, and the Middle East. Each region's market is thoroughly studied, allowing for the discovery of regional Automotive Tire market trends, constraints, and growth potential.
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Key Questions answered in the Automotive Tire Market Report are:
- What is Automotive Tire Market?
- What is the forecast period of the Automotive Tire Market?
- What is the competitive scenario of the Automotive Tire market?
- Which region held the largest market share in the Automotive Tire Market?
- What are the opportunities for the Automotive Tire Market?
- What are the restraining factors in the Automotive Tire market?
- Who are the key players of the Automotive Tire market?
Key offerings:
- Market Share, Size, and Forecast by Revenue|2022-2029
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation: A detailed analysis by Automotive Tire
- Landscape- Leading key players and other prominent key players.
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