Press release
Automotive Tire OEM Global Market By Design, By Tire Type, By Vehicle Type, By Distribution Channel, By End User And Regional Forecast 2023-2032 | Michelin SCA, Continental AG, MRF Limited, Apollo Tyres Limited, Nokian Tyres Plc.
Automotive Tire OEM Market Size, Growth Rate, And Forecast
The global automotive tire OEM market size is expected to grow from $19.85 billion in 2022 to $21.49 billion in 2023 at a compound annual growth rate (CAGR) of 8.29%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive tire OEM market size is expected to grow to $28.89 billion in 2027 at a CAGR of 7.68%.
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Automotive Tire OEM Market Drivers
The increasing investments in research and development of automotive tires are driving the growth of the automotive tire OEM market. The tire manufacturers are conducting research and development activities for designing new tires and creating compounds to improve product performance.
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Automotive Tire OEM Market Segments
• By Type: Tube Tire, Tubless Tire
• By Design: Radial Tire, Bias Tire
• By Vehicle: Passenger Car, Light Commercial Vehicle, or Heavy Commercial Vehicle
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the automotive tire OEM market.
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Automotive Tire OEM Market Key Players
Major competitors in the automotive tire OEM market include Bridgestone Corporation, Michelin SCA, Goodyear Tyre & Rubber Company, Continental AG, Sumitomo Rubber Industries Limited, Pirelli & Co. SpA, Zhongce Rubber Company, Cheng Shin Rubber Industry Company, MRF Limited, Toyo Tire & Rubber Co. Limited, Apollo Tyres Limited, and Nokian Tyres Plc.
The Business Research Company's "Global Automotive Tire OEM Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table of Content for The Automotive Tire OEM Market Include:
1. Executive Summary
2. Automotive Tire OEM Market Characteristics
3. Automotive Tire OEM Market Trends And Strategies
4. Automotive Tire OEM Market - Macro Economic Scenario
5. Automotive Tire OEM Market Size And Growth
.....
26. Africa Automotive Tire OEM Market
27. Automotive Tire OEM Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Tire OEM Market
29. Automotive Tire OEM Market Future Outlook and Potential Analysis
30. Appendix
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