Press release
Increasing Demand of Automotive Tire Market to Growth Automotive Industry Rapidly during 2018 – 2026 | MRF Tyres, JK Tyre & Industries Ltd., Continental AG, Bridgestone Corporation, Michelin Group, CEAT Ltd.
The economic growth in countries such as China, Japan, and India, rising living standards and growing disposable income further increases the demand of automobiles in the region.
Automotive Tire Market is anticipated to reach around USD 453.7 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the passenger cars dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global market.
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The expanding global automotive industry, along with increasing demand for passenger cars majorly drives the Automotive Tire Market growth.
The adoption of automotive tires has increased significantly owing to increasing need to increase the average life of vehicles, and growing need to improve road safety by use of technologically advanced tires.
Other factors driving the market growth include growing disposable income, technological advancements, and changing lifestyles. New emerging markets, emerging consumer demographics, and increasing adoption of green tires would provide growth opportunities for market in the coming years.
The introduction of stringent government regulations regarding vehicular safety and use of green technology accelerates the adoption of automotive tires in the region. Expansion of global players into these countries to tap market potential boosts the market growth.
The stringent government regulations regarding the use of green tires also encourage new product development. In 2012, Hankook Tire developed an airless tire. The non-pneumatic tire results in significant energy savings through reduction of the production process by half. These tires can be reused or recycled and find applications in eco-friendly car models including hydrogen, electric and hybrid cars.
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Leading companies profiled in the Automotive Tire Market report includes: -
• MRF Tyres
• JK Tyre & Industries Ltd.
• Continental AG
• Bridgestone Corporation
• Sumitomo Rubber Industries Ltd.
• Michelin Group
• Toyo Tire & Rubber Co. Ltd.
• Goodyear Tire and Rubber Company
• Pirelli & C. S.P.A.
• CEAT Ltd.
These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
These players operating in the Automotive Tire Market are investing significantly in research and development and technological innovation to develop advanced products to meet the growing consumer demands.
Partial TOC of Automotive Tire Market: -
1. Industry snapshot
2. Ecosystem analysis
3. Market Dynamics
4. Industry analysis - Porter's five force
5. Degree of competition
6. Market PEST Analysis, 2017
7. Market Value Chain Analysis
8. Industry Trends
9. Competitive Ranking Analysis
About Us:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
Contact Us:
Mr. Neel
Corporate Sales, USA
Polaris Market Research and Consulting
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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