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Tire Market Size, Share, Trends, Analysis and Forecast 2021-26

Tire Market Size, Share, Trends, Analysis and Forecast 2021-26

According to the latest report by IMARC Group, titled “Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global tire market reached a strong growth in 2020.

Tires are ring-shaped flexible and pneumatic structures that are placed around the rim of a wheel. They are usually manufactured using wire, rayon, natural and synthetic rubber, carbon black, polyester, steel, silica and a vulcanization accelerator. These structures provide a sturdy gripping surface for traction while transferring the vehicle’s load to the surface. Serving as a cushion for the wheels of a moving vehicle, they absorb shocks and reduce the impact of vibrations while driving, which enhances road feel and improves the overall performance of the vehicle.

Request Free Sample Report: https://www.imarcgroup.com/tyre-manufacturing-plant/requestsample

Global Tire Market Trends:

The global tire market is primarily driven by the significant growth in the automotive sector. Growing global population, rapid urbanization and rising consumer expenditure capacities have contributed to the escalating demand for passenger vehicles across the globe, especially in developing countries. This, in confluence with the increasing demand for construction vehicles on account of expanding infrastructural development, is significantly catalyzing the growth of the market. Moreover, extensive research and development (R&D) activities undertaken by manufacturers have resulted in the improved tire design and rubber quality. This has consequently led to the advent of non-pneumatic tires (NPT) or airless tires that do not deflate under any circumstances. Numerous ecological tires have also been introduced in the market, which are gaining widespread popularity, owing to enhanced focus toward sustainable development. For instance, Michelin, a France-based tire manufacturing company, introduced VISION, a biodegradable 3D printed smart concept tire, which is manufactured using sustainable materials. It is airless and equipped with sensors that offer real time updates about the condition of the tire.

Market Summary:

On the basis of the design, the market has been bifurcated into radial and bias tires, wherein radial represents the most preferred segment.
Based on the end use, the OEM segment dominates the market, followed by the replacement segment.

On the basis of the vehicle type, the market has been divided into passenger cars, light commercial vehicles, medium and heavy commercial vehicles, two wheelers, three wheelers, and off-the-road (OTR). Among these, passenger cars exhibit a clear dominance in the market.

Based on the distribution channel, the market has been bifurcated offline and online, wherein the offline segment dominates the market.

On the basis of the season, the market is segmented into all season, winter and summer tires. Currently, all season tires account for the majority of the total market share.

On the geographical front, the market has been classified into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), Middle East and Africa (Turkey, Saudi Arabia and others). At present, Asia Pacific holds the leading position in the market.

Competitive Landscape with Key Players:

The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market.

Manufacture Francaise de Pneumatiques MICHELIN (ML.PA)
Bridgestone Corp (OTCMKTS: BRDCY)
Continental Tire the Americas, LLC
Goodyear Tire & Rubber Co (NASDAQ: GT)
TBC Corporation, Pirelli & C. SpA (BIT: PIRC)
Yokohama Rubber Co Ltd (TYO: 5101)
Hankook Tire Co., Ltd.
Toyo Tire Holdings of Americas Inc.
Kumho Tire Company.

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/tyre-manufacturing-plant/

We are updating our reports, If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Related Reports by IMARC Group:

Excavator Market: https://www.imarcgroup.com/excavator-market

Automotive Supercharger Market: https://www.imarcgroup.com/automotive-supercharger-market

Precision Gearbox Market: https://www.imarcgroup.com/precision-gearbox-market

Latin America Two-wheeler Market: https://www.imarcgroup.com/latin-america-two-wheeler-market

United Kingdom Vehicle Recycling Market: https://www.imarcgroup.com/united-kingdom-vehicle-recycling-market

Gaskets and Seals Market: https://www.imarcgroup.com/gaskets-seals-market

Leisure Boat Market: https://www.imarcgroup.com/leisure-boat-market

North America Tire Market: https://www.imarcgroup.com/north-america-tire-market

Traction Transformers Market: https://www.imarcgroup.com/traction-transformers-market

Spark Plug Market: https://www.imarcgroup.com/spark-plug-market

Contact US:

IMARC Group
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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