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Booming Growth in Automotive Tires Market and Forecast to 2023 by Worldwide Top Key Manufacturers –Bridgestone, Continental, Goodyear, Hankook Tires, Maxxis Tires, MRF, Yokohama Rubber

05-21-2019 07:34 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Market Prognosis

Automotive Tires Market

Automotive Tires Market

Global Automotive Tires Market Report 2019 offers elaborated knowledge on the market parts like size, Key Regions, growth, trends, dominating firms, Major Manufactures. The Automotive Tires report introduces market competition situation among the vendors, revenue, product & services, latest developments and business strategies.

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. It accumulates comprehensive information and research methodologies.

As per the market report, the major factors such as the increased use of bio-oils in the manufacturing process of tires would help to boost the growth in the light of demand for ecological tire manufacturing process. Orange oils, extracted from orange peels, are used in the process to help reduce the amount of petroleum used in tires. Additionally, the tire market has also witnessed an increase in R&D investments. The use of nanotechnology is a recent invention used in the manufacture of tires.

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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.

Regionally, 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.

This comprehensive Automotive Tires Market research report 2019 – 2023 includes a brief on these trends that can help the businesses operating in the industry to understand the market and strategize for their business expansion accordingly. The research report analyzes the market size, industry share, growth, key segments, CAGR and key drivers.

Purchase this report online with 212 Pages, Top Key Players Analysis and List of Tables & Figure @ .

Major Key Players:

1 Bridgestone

2 Continental

3 Cooper Tire & Rubber Company

4 Goodyear

5 Hankook Tires

6 Maxxis Tires

7 Michelin Tires

8 Mrf

9 Pirelli & C .Spa

10 Sumitomo Tires

11 Yokohama Rubber Co., Ltd. And More………………

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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

About us:

We at Market Prognosis believe in giving a crystal clear view of market dynamics for achieving success in today’s complex and competitive marketplace through our quantitative & qualitative research methods.
We help our clients identify the best market insights and analysis required for their business thus enabling them to take strategic and intelligent decision.
We believe in delivering actionable insights for your business growth and success.

Contact us:

ProgMark Pvt. Ltd.

Thane – 421501


+1 973 241 5193

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