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Automotive Tire OEM Market 2023 - By Overview, Size, Top Key Players, Growth, Share, And Forecast 2032
Automotive Tire OEM Market
The Business Research Company's Automotive Tire OEM Global Market Report 2023 identifies increasing investments in research and development as the major driver for the Automotive Tire OEM market's growth in the forecast period. The tire manufacturers are conducting research and development activities for designing new tires and creating compounds to improve product performance. The automotive tire OEM will benefit from this investment by providing a more efficient and sustainable tire.
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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Major competitors in the Automotive Tire OEM market are Bridgestone Corporation, Michelin SCA, Goodyear Tyre & Rubber Company, Continental AG, Sumitomo Rubber Industries Limited.
A key trend in the Automotive Tire OEM market includes technological innovation. Major industry participants are focusing on developing novel technologies to shift consumer demand for advanced tires. For instance, in December 2020, Michelin, a France-based tire manufacturer, aimed to offer up to 1,500,000 RFID-enabled vehicle tires in 2020 and planned to have all of its automobile tires fitted with the technology by 2023. The RFID chips are designed to link the wheels with the global ecology, specifically, backend systems.
Read More On The Global Automotive Tire OEM Market Report Here:
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The Automotive Tire OEM market is segmented -
• 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.
The Business Research Company's "Global Automotive Tire OEM Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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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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