Automotive Tire Market, By Vehicle Type (2/3 Wheelers, Passenger Vehicles, Commercial Vehicles), By Tire Structure (Radial, Tube, Tubeless, Bias Tires), By Tire (Winter, Summer, All-season), By Distribution Channel, By Region – Global Market Insights 2022 to 2032
As of 2022, the global automotive tire market enjoys a valuation of US$ 381.5 billion and is projected to reach US$ 593.5 billion by the end of 2032. Sales of automotive tires are anticipated to increase at a CAGR of 4.5% over the next ten years.
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Prominent Key players of the Automotive Tire market survey report:
- Bridgestone Corporation
- Continental AG
- Michelin North America Inc
- The Goodyear Tyre & Rubber Company
- Sumitomo Rubber Industries Ltd
- The Yokohama Rubber Co., Ltd
- Pirelli & C. S.p.A
- Madras Rubber Factory Limited
- Apollo Tyres Ltd
- Cheng Shin Rubber Industry Co
Competitive Landscape:
Manufacturers of auto tires are focusing on expanding their business scope by increasing manufacturing capacity to meet high demand from various regions.
- In August 2022, Hankook Tire, a South Korean supplier of tires, announced the expansion of the manufacturing capacity of its facility in Clarksville, Tennessee, United States. The company was expected to invest around US$ 1.6 billion to increase the local manufacturing capacity of the facility by more than double by 2026.
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Key Segments Covered in Automotive Tire Industry Research
- By Vehicle Type:
- 2/3 Wheelers
- Passenger Vehicles
- Commercial Vehicles
- LCVs
- HCVs
- By Tire Structure:
- Radial Tires
- Tube Tires
- Tubeless Tires
- Bias Tires
- By Tire Type:
- Winter Tires
- Summer Tires
- All-season Tires
- By Distribution Channel:
- OEMs
- Aftermarket
What insights does the Automotive Tire Market report provide to the readers?
- Automotive Tire fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Automotive Tire player.
- Various regulations imposed by the governments on the consumption of Automotive Tire in detail.
- Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global Automotive Tire.
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The report covers following Automotive Tire Market insights and assessment that are helpful for all participants involved in the Automotive Tire market:
- Data on recently introduced regulations and their impact on key industries and on demand in Automotive Tire
- Latest industry Analysis on Automotive Tire Market, with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Automotive Tire Market and changing consumer preferences in major industries.
- Changing Automotive Tire demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Automotive Tire major players
- Automotive Tire Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Automotive Tire demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
Questionnaire answered in the Automotive Tire Market report include:
- How the market for Automotive Tire has grown?
- What is the present and future outlook of the global Automotive Tire on the basis of region?
- What are the challenges and opportunities for the Automotive Tire?
- Why the consumption of Automotive Tire highest in region?
- In which year segment is expected to overtake segment?
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