Motorcycle Tires Market Regional Landscape, Segmentation And Opportunities Forecast By 2027

Transparency Market Research has published a new report on the global rubber tire market for the forecast period of 2019-2027 According to the report, the global rubber tire market is projected to be valued at US$ 195 Bn by 2027, expanding at a CAGR of ~5% during the forecast period.

According to the report, the global rubber tire market is expected to expand owing to a rise in the sales of vehicles around the world.
Economic expansion has propelled investments in infrastructure as well as spending on the agriculture sector. Rise in the sales of off-the-road vehicles, such as agriculture tractors, construction & mining vehicles, and industrial vehicles, is projected to boost the rubber tire market.

Obtain Report Details @ https://www.transparencymarketresearch.com/rubber-tires-market.html

The production of vehicles has been increasing, globally, for the last five years, due to a rise in the demand for passenger vehicles, worldwide. This, in turn, has been fueling the demand for rubber tires.
Expansion of Global Rubber Tire Market

Rise in the disposable income of consumers has resulted in more highway travel, which has resulted in growth in total vehicle miles travelled (VMT). Total miles driven by vehicles in the U.S rose from 3.01 trillion miles in 2007 to 3.21 trillion miles in 2018. Increased number of miles driven has boosted the replacement demand for tires.
Increasing individual affluence is prompting automakers to offer more number of vehicle models. Automakers are offering various facelifts and models to maintain a competitive edge. Vehicle models are also available with varied tire sizes, thus increasing the fitment per model. Rise in the customization of vehicles is boosting the sale of tires, and thereby, expanding the rubber tire market.
Based on rim size, the global rubber tire market has been classified into

Contact:

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada

About Us:

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

This release was published on openPR.