Press release
Asia Pacific Tire Market to Reach 1,520 Million Units by 2027 | Top Players Analysis Like Michelin, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Corporation and Others
Asia Pacific Tire Market Report
A Closer Look at the Asia Pacific Tire Market Size | 2022
The Asia Pacific tire market size reached 1,170 Million Units in 2021. Looking forward, IMARC Group expects the market to reach 1,520 Million Units by 2027, exhibiting a growth rate (CAGR) of 4.7% during 2022-2027.
APAC Tire Market Trends:
The elevating demand for first and second-hand cars in countries such as India, China, Indonesia, Malaysia, etc., is among the key factors driving the Asia Pacific tire market. Moreover, the inflating investments towards several infrastructure projects, including bridges, roads, tunnels, etc., to improve transport connectivity are further catalyzing the market across the region. Besides this, the growing automobile production and the expanding fleet size are acting as significant growth-inducing factors. Additionally, the rising usage of both light and heavy commercial vehicles in construction and logistics activities is also positively influencing the regional market. Apart from this, the launch of next-generation high-performance tires for premium and luxury cars and the escalating requirement for replacement tires, on account of the large consumer base of second-hand passenger cars, are expected to stimulate the Asia Pacific tire market in the coming years.
Year considered to estimate the market size:
• Base year of the analysis: 2021
• Historical period: 2016-2021
• Forecast period: 2022-2027
Receive A Full PDF Sample Copy Of Report:( Including Full TOC, List of Tables & Figures, Chart): https://www.imarcgroup.com/asia-pacific-tire-market/requestsample
Note: This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Competitive Landscape with Key Players:
The competitive landscape of the Asia Pacific tire industry has been studied in the report with the detailed profiles of the key players operating in the market.
Tire Market Companies in Asia Pacific: Michelin, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Corporation, Pirelli C. S.p.A., Yokohama Tire Corporation, Hankook Tire & Technology Co., Ltd., Toyo Tire Corporation and Kumho Tire Co., Ltd.
Asia Pacific Tire Market Segmentation:
The report has segmented the APAC tire market on the basis of radial/bias tires, end use, vehicle type, size, distribution channel and country.
Market By Radial/Bias Tires:
• Radial
• Bias
Market By End-Use:
• OEM
• Replacement
Market By Vehicle Type:
• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two-Wheelers
• Off-The-Road (OTR)
• Three-Wheelers
Market By Size:
• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two-Wheelers
• Off-The-Road (OTR)
• Three-Wheelers
Market By Distribution Channel:
• Offline
• Online
Country Analysis:
• China
• India
• Japan
• Australia
• Indonesia
• South Korea
• Thailand
• Malaysia
• Pakistan
• Other Regions
Explore full report with TOC & List of Figures: https://www.imarcgroup.com/asia-pacific-tire-market
Asia Pacific Tire Market Outlook:
Tire refers to a circular automotive component that is made up of natural or synthetic rubber compound, silica, wire, carbon black, steel, etc., and is inflated with compressed air. It is largely available in radial and bias construction variants and numerous sizes. These automotive tire models are custom-built for supporting the weight of a vehicle, absorbing road shocks, and transmitting traction for acceleration and braking. They help maintain and change the direction of travel thereby ensuring passenger safety and a seamless car handling experience. Consequently, tire products are extensively utilized in the production of passenger cars, heavy commercial, light commercial, and other vehicles.
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• 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.
Browse More Tire Industry Reports:
Europe Tire Market Report: https://www.digitaljournal.com/pr/europe-tire-market-size-business-prospects-forthcoming-developments-and-future-investments-by-forecast-to-2027
Saudi Arabia Tire Market Report: https://www.digitaljournal.com/pr/saudi-arabia-tyre-market-business-report-2022-2027-michelin-bridgestone-continental-goodyear-sumitomo-pirelli
Europe Off-the-Road OTR Tire Market: https://www.einnews.com/pr_news/601575687/europe-off-the-road-otr-tire-market-price-trends-size-top-companies-analysis-business-opportunities-and-forecast-2027
Contact Us:
IMARC Group
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Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +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.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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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