What are the Factors Promoting Automotive Tire Market Growth? Explores Fact.MR study
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A recent surge in the mobility service offerings across the world is fuelling demand for lightweight commercial vehicles. Growing traffic congestion, environmental concerns, and advancements in technology are gradually inducing a change in consumer perception. Mobility solutions include a wide array of services such as shared transport, on-demand transport, autonomous driving vehicles, and subscription-based transport services.
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These services are likely to create demand for commercial vehicles in the foreseeable future and are expected to be a vital cause contributing to the growth of the automotive tire market. According to the report, LCVs are estimated to contribute US$ 76 billion to the automotive tire market revenue in 2019.
Sustainability Key to Automotive Tire Manufacturing and Sales
Increasing focus on implementing the corporate average fuel (CAFÉ) norms and growing demand for tires which contribute to fuel efficiency are key factors prompting tire manufacturers to focus on the development of sustainable products. Additionally, the imposition of stringent government regulations to limit carbon emissions during production is creating a demand for streamlining the tire manufacturing processes. Growing consumer awareness about the adverse environmental impact of waste produced due to tires is influencing their buying patterns and driving sustainability in production.
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Automotive tire manufacturers are investing heavily in developing sustainable material and solutions to work in accordance with government regulations and accommodate for the changing consumer perception. For instance, Bridgestone announced the development of the first hybrid polymer which according to the company will substantially reduce the volume of materials required for manufacturing tires while providing high performance.
The Fact.MR report tracks the automotive tire market for the period 2017-2022. According to the report, the automotive tire market is projected to grow at 5.1% CAGR through 2022.
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Chapter 1 – Global Automotive Tire Market – Executive Summary
The report commences with an executive summary which offers brief yet affluent information about the automotive tire market. The chapter includes all the key highlights of the automotive tire market in terms of facts and figures.
Chapter 2 – Global Automotive Tire Market – Overview
Under the chapter, a concrete definition of the automotive tire market along with a comprehensive taxonomy of the market has been provided. The chapter further lists and assesses all the macroeconomic factors influencing automotive tire market growth. Additionally, all the factors impacting the automotive tire market have been analyzed in the chapter. The chapter also provides a comprehensive analysis of the cost structure, pricing, supply chain, and raw material sourcing.
Chapter 3 – Global Automotive Tire Market Analysis and Forecast by Product Type
The chapter provides a detailed market breakdown on the basis of product type. A historical analysis of each product type in addition to a forecast has been provided in the chapter.
For More Insights – https://www.globenewswire.com/en/news-release/2019/03/18/1756363/0/en/Automotive-Tire-Market-Growth-Underpinned-by-Growing-Preference-for-Mobility-Services-Fact-MR-Study.html
Chapter 4 - Global Automotive Tire Market Analysis and Forecast by Vehicle Type
Under this chapter, a detailed analysis of the automotive tire market based on vehicle type has been provided. The chapter sheds light on the automotive tire market performance on the basis of vehicle type in the recent past. Additionally, a forecast of the automotive market based on vehicle type is also included in the chapter.
Chapter 5 - Global Automotive Tire Market Analysis and Forecast by Sales Channel
The chapter provides a comprehensive assessment of the automotive tire market on the basis of the sales channel. All the key trends impacting sales through a particular distribution channel have been provided in the chapter.
Chapter 6 - Global Automotive Tire Market Analysis and Forecast by Region
Under this chapter, the automotive tire market has been assessed on the basis of different geographical regions. The chapter provides a historical analysis of the automotive tire market on the basis of regions in addition to a forecast of the automotive tire market in the identified geographies.
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Leading players operating in the automotive tire market include Bridgestone Corporation, The Yokohama Rubber Co., Ltd., Madras Rubber Factory Limited, Pirelli & C. S.p.A, Apollo Tyres Ltd., and Cheng Shin Rubber Industry Co.
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