Automotive Tires E-Retailing Market is estimated to grow at a higher CAGR of 13.5% during 2022-2029 | Size, Trends & Forecast

According to GMI Research, the Automotive Tires E-Retailing Market is forecast to growing at CAGR of 13.5% from 2022-2029.

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The factors driving the growth of Automotive Tires E-Retailing Market includes growing popularity of sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs), increase in the production of passenger vehicles around the world, rising consumers preference for online retail platforms and improvements in the living standards. Moreover, increased adoption of self-inflating and low rolling resistance (LRR) technologies by manufacturers, proliferation of smartphones, growing trend of online shopping across the globe, changes in consumers' purchasing patterns and rapid urbanization, are some of the additional factors supplementing the Automotive Tires E-Retailing Market Growth. In addition, increasing investments by major players on research and development, growing disposable incomes and rising population growth rates, are further supplementing the market growth.

However, growth of the Automotive Tires E-Retailing Market is hindered due to improvements in the public transportation systems.

The prominent players operating in the market are EBay Inc., MRF Ltd., Michelin, Rakuten, Inc., Alibaba Group Holding Limited, Asbury Automotive Group, Amazon.com, Inc., Walmart Inc., JD.com, Inc., and The Goodyear Tire & Rubber Company, among others.

Based on Vehicle Type, the Passenger Cars segment is predicted to grow at a significant CAGR during the forecast period

Huge discounts offered by the online retail platforms and launch of new products, is propelling growth of the segment.

Based on Manufacturing, the Radial Tire segment is projected to expand at a robust CAGR over the forecast period

As per the Global Automotive Tires E-Retailing Market Analysis, radial tires minimizes fuel consumption and reduce machine maintenance costs, along with growing demand for heavy commercial vehicles, are some of the factors propelling growth of the segment.

Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period

Presence of the leading players such as EBay Inc., Amazon.com, Inc. and Walmart Inc., Government policies promoting the manufacturing of passenger vehicles, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.  

Key Developments

In 2019, The Goodyear Tire & Rubber Company launched its online channel for the sales of tires in Europe, it provided German consumers option to purchase tires and schedule installation through Goodyear's website.
In 2019, Michelin partnered with one of the largest retailers, JD.com, for the online sales of tires. The two companies planned to carry out a seamless integration to set a new benchmark of convenience for customers.

Market Segmentation

Segmentation by Tire Type

Winter Tires
Summer Tires
All Season Tires
Other Tire Types

Segmentation by Vehicle Type

Passenger Cars
Light Commercial Vehicles
Heavy Commercial Vehicles
Other Vehicle Types

Segmentation by Manufacturing

Radial Tire
Bias Tire

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.