Global Automotive Tire Market Size, Share, Growth, Demand, Revenue, Major Players, and Future Outlook

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 major goal of the Automotive Tire Market Report is to examine the most recent market research on the Automotive Tire market, analyse the current and future market scenario, and provide insights and updates on the important sectors (2021-2029). The study completely examines analysed insights in light of the market, as well as its ever-changing trends, industry environment, and all of the market's leading elements. This research approach was used to investigate the global Automotive Tire market, and the results were logically presented in this report.

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Market Scope:

Global Automotive Tire Market 2021 research report 2029 includes crucial statistics and analytical insights to provide a comprehensive understanding of the market size, share, growth, trend, demand, top player and industry profile, opportunities, value cycle, end-users, technology, types, and application. The research will also include accessible opportunities in micro markets for stakeholders to invest, as well as a full analysis of the competitive landscape and significant competitors' product offers.

The qualitative and quantitative data in the Automotive Tire market report can assist decision-makers in determining which market segments, regions, and variables driving the market are likely to develop at higher rates, as well as major opportunity areas. The research also highlights the competitive landscape of leading industry players as well as upcoming market trends. Report includes a PESTEL Analysis, which aids in the development of company strategies. Political variables can help you figure out how much a government can influence the Automotive Tire market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Automotive Tire market. Marketing analytics and tactics are aided by social elements.

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. Also, 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.

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.

The competitive landscape is a critical aspect every key player needs to be familiar with. The report throws light on the competitive scenario of the global Automotive Tire market to know the competition at both the domestic and global levels. The key aspects such as areas of operation, production, and product portfolio. Additionally, companies in the report are studied based on key factors such as company size, market share, market growth, revenue, production volume, and profits. In additional Automotive Tire Market Share analysis of players, in-depth profiling, product/service and business overview, the study also concentrates on BCG matrix, heat map analysis, Competitive Benchmarking along with SWOT analysis to better correlate market competitiveness.

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Regional Analysis:

Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Automotive Tire market in these countries, which covering 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, and Middle East and Africa. Regional markets are thoroughly investigated in order to uncover regional market trends, restrictions, and possible prospects.

Key Questions answered in the Automotive Tire Market Report are:

• Which product segment grabbed the largest share in the Automotive Tire market?
• How is the competitive scenario of the Automotive Tire market?
• Which are the key factors aiding the Automotive Tire market growth?
• Which region holds the maximum share in the Automotive Tire market?
• What will be the CAGR of the Automotive Tire market during the forecast period?
• Which application segment emerged as the leading segment in the Automotive Tire market?
• Which are the prominent players in the Automotive Tire market?
• What key trends are likely to emerge in the Automotive Tire market in the coming years?
• What will be the Automotive Tire market size by 2027?
• Which company held the largest share in the Automotive Tire market?

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