Automotive Tires Market: Emerging Trends, Potential Revenue, Cost Structure Analysis and Top Key Players - Bridgestone Group, Continental Group, Goodyear Tire & Rubber Company, Michelin Group, Sumitomo | Global Future Prospects 2023

Marketprognosis.com Publish a New Market Research Report On “Global Automotive Tires Market - Industry Analysis, Trends and Forecast (2018 - 2023)” which contains global key player’s survey information and forecast to 2023.

Overview of the Global Automotive Tires Market:

The report spread across 212 pages is an overview of the Global Automotive Tires Market. These report study based on the Automotive Tires Market. It is a complete overview of the market, covering various aspects prevailing market landscape.

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The aftermarket segment of Automotive Tires Market constitutes of a bigger share than the OE market. Aftermarket of tires is being driven by the factor that the average age of vehicles on road is gradually increasing and the replacement tires needed due to the increased longetivity of the age of the vehicle. The average age of vehicles on the road in the U.S. is rising, even as consumers snap up more new vehicles - a paradox attributable to substantial increases in reliability. The typical car on the road in the U.S. is a record-high 11.5 years old. Even though the average age is skewed by the fact that the average age of vehicles decreases due to new vehicle purchases, the old vehicles on road last even longer and need more tires in their lifetime.

Americans are buying cars at an annualized rate of more than 17 million vehicles, but are still reluctant to get rid of their old vehicles and are continuing to use them. U.S. vehicle owners bought 42% more cars than they scrapped in 2015, according to IHS. The number of light vehicles registered in the U.S. hit an all-time high of 257.9 million units. Meanwhile, the number of vehicles that are 16 to 24 years old is 44 million. That's up from 26 million in 2002, according to IHS. Since tires need to be optimally changed after every 25,000 miles and an average person in U.S drives 13,476 miles in a year on average, there’s a need for the tires to be changed every 1.8 years approximately.

Since the average age of vehicles is increasing gradually and has reached a peak of 11.6 years in 2016, there’s a need for tires to be changed more number of times in its lifetime. This is going to positively impact the aftermarket segment of Tires. The average age of light vehicles, which constitute of a major part of vehicles in US, increased from 9.9 years in 2006 to 11.6 years in 2016. The same phenomenon is being observed in Europe as well, as the average age of cars has risen from 8.6 years in 2009 to a record high 10.7 years in 2015.Since there are 834 cars per 1000 people in US and is increasing due to boom in new sales of cars, the OE and aftermarket tire market is expected to be positively growing in the near future.

Purchase this report online with 212 Pages, Top Key Players Analysis and List of Tables & Figure @ https://www.marketprognosis.com/buyReport/15833 .

Major Key Players:

1 Bridgestone Group

2 Continental Group

3 Goodyear Tire & Rubber Company

4 Michelin Group

5 Sumitomo and More……………….

This study answers to the below key questions:

1 What will the market size be in 2023 and what will the growth rate be?

2 What are the key market trends?

3 What are the challenges to market growth?

4 Who are the key players in this market?

5 What are the market opportunities and threats faced by the key players?

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In the end, this report covers data and information on capacity and production overview, production, market share analysis, sales overview, supply, sales, and shortage, import, export and consumption as well as cost, price, revenue and gross margin of Automotive Tires Market.

Table of Contents:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Key Findings Of The Study

5 Market Overview And Technology Trends

6 Market Dynamics

7 Global Automotive Tires Market, By Tire Type

8 Global Automotive Tires Market, By End Consumers

9 Global Automotive Tires Market, By Vehicle Type

10 Global Automotive Tires Market, By Geography

11 Competitive Landscape

12 Key Vendor Analysis

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