Automotive Tire Market Shares SWOT Analysis, Key Development Strategies and Forecasts Till 2027
In 2020, the global Automotive Tire market size was US$ 196560 million and it is expected to reach US$ 233420 million by the end of 2027, with a CAGR of 2.5% during 2021-2027.
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Top Leading Companies of Global Automotive Tire Market are - Pirelli & C SpA, Goodyear Tire & Rubber Company, Yokohama Rubber Co. Ltd, MRF (Madras Rubber Factory Limited), Cooper Tire & Rubber Company, Michelin Tires, Hankook Tires Group, Apollo Tires, Bridgestone Corp., Continental Automotive AG and others.
Tire is a ring or band of rubber, either solid or hollow and inflated, or of metal, placed over the rim of a wheel to provide traction, resistance to wear, or other desirable properties.
This report we researched the automotive type which is used in automotive.
Global Automotive Tire key players include Bridgestone, Michelin, Goodyear, Continental, Hankook, etc. Global top five manufacturers hold a share over 40%.
Europe is the largest market, with a share over 25%, followed by North American and Asia (Ex. China), both have a share over 40%.
In terms of product, Radial Tire is the largest segment, with a share over 85%. And in terms of application, the largest application is Passenger Car, followed by Commecial Car, etc.
On The Basis of Types: -
All Season Tires
On The Basis of Applications: -
Light Commercial Vehicles
Heavy Commercial Vehicles
The regions are further sub-divided into:
-North America: US, Mexico, Canada
-Europe: Russia, Ukraine, France, Spain, Sweden, Norway, Germany, Finland, Poland, Italy, United Kingdom, Greece, Austria, Denmark, Switzerland, Netherlands, Belgium, Turkey, Luxembourg
- Asia-Pacific: China, Japan, India, Australia, South Korea, Taiwan, Malaysia, Philippines, Thailand, Singapore
- South America: Brazil, Argentina, Peru, Chile
- Middle East and Africa: Bahrain, Egypt, Israel, Kuwait, Qatar, Saudi Arabia, United Arab Emirates, South Africa
The global automotive tire market across Asia-Pacific held the largest share in 2019, accounting for more than two-fifths of the market. Moreover, the region is expected to manifest the highest CAGR of 4.3% during the forecast period, owing to ongoing increased demand for radial tires due to improved road infrastructure in countries such as China, India, and Japan. The market across North America is expected to register a CAGR of 3.9% through 2027.
Influence of the Automotive Tire Market Report:
-Comprehensive assessment of all opportunities and risk in the Automotive Tire market.
-Automotive Tire market recent innovations and major events.
-Detailed study of business strategies for growth of the Automotive Tire market-leading players.
-Conclusive study about the growth plot of Automotive Tire market for forthcoming years.
-In-depth understanding of Automotive Tire market-particular drivers, constraints and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Automotive Tire market.
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What Are the Market Factors That Are Explained in The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Global Automotive Tire Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyses the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Finally, Automotive Tire Market report is the credible hotspot for acquiring statistical market that will exponentially grow your business. The report gives the guideline area, monetary circumstances with the product value, advantage, limit, generation, supply, solicitation, and market improvement rate and figure, etc. Automotive Tire Market report furthermore Presents another SWOT assessment, theory feasibility examination, and venture return investigation.
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- Free Competitive analysis of any 5 key market players.
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