Tires Market Anticipates Reach of US$ 169.06 Billion by 2029 with CAGR of 4.2% during a forecast period

Tires Market Report Scope and Research Methodology:

The Global Tires Market report provides a detailed analysis, covering the period from 2018 to 2029, utilizing a robust research methodology. It includes a comprehensive study of key players, market trends, drivers, restraints, and regional insights. The report aims to assist stakeholders in making informed decisions in the dynamic Tires Market landscape.

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Tires Market Regional Insights:

The U.S. holds a significant share in the global tire market, with Europe, Japan, and Canada expected to exhibit growth. The Asia-Pacific region, particularly China, India, and Japan, stands out as the largest market, commanding 48% of the global market in 2022 and anticipated to grow at a CAGR of 5.3% during the forecast period.

Tires Market Dynamics:

Tires play a pivotal role as the point of contact between vehicles and roads, influencing load-bearing capacity, safety grip, and steering stability. The market is primarily driven by the surge in vehicle production and sales worldwide, encompassing commercial vehicles like trucks and trailers. The rise in demand for low-weight cars and premium vehicles further propels market growth. The report also highlights the growing production and sales of electric vehicles as a significant factor influencing the tire market positively.

The COVID-19 pandemic has posed challenges, impacting sales and manufacturing operations in the tire market. Disruptions in transport capabilities, stringent lockdown norms, and safety concerns have led to a considerable decline in sales, with more than 44% of sales units affected.

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Tires Market Segmentation:

The report delves into detailed segmentation, highlighting the dominance of radial tires, particularly in the mining and construction industries. Passenger Cars Tires, under the Vehicle Type segment, lead the market, driven by increased demand for advanced features and rising per capita income. The OEM segment, within Distribution Channels, commands over 70% market share, supported by a surge in vehicle production and increased consumer awareness of road safety.

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Tires Market Key Players:

1. Cooper Tire & Rubber Company (U.S)
2. Goodyear Tire & Rubber Company (U.S)
3. Avon Tyres (U.K)
4. Continental AG (Germany)
5. MITAS A.S. (Czech Republic)
6. Michelin (France)
7. Nokian Tyres Oyj (Finland)
8. Pirelli & C. S.p.A (Italy)
9. Apollo Tyres Ltd (India)
10. MRF (India)
11. CEAT (India)
12. JK Tyre & Industries Ltd (India)
13. Madras Rubber Factory Ltd. (India)
14. Bridgestone Corporation (Japan)
15. Toyo Tire & Rubber Co., Ltd. (Japan)
16. Sumitomo Corporation (Japan)
17. Yokohama Tire Corporation (Japan)
18. Giti Tire Pte. Ltd (Singapore)
19. Cheng Shin Rubber Ind. Co. Ltd (Taiwan)
20. Maxxis International (Taiwan)
21. Hankook Tire Co., Ltd (South Korea)
22. Kumho Tire Co., Inc (South Korea)
23. Nexen Tire Corporation (South Korea)
24. Zhongce Rubber Group Co., Ltd. (China)
25. Sailun Group Co. Ltd. (China)
26. Shandong Linglong Tire Co., Ltd (China)

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Table of content for the Tires Market includes:

1.Global Tires Market: Research Methodology

2.Global Tires Market: Executive Summary
• Market Overview and Definitions
● Introduction to the Global Market
● Summary
● Key Findings
● Recommendations for Investors
● Recommendations for Market Leaders
● Recommendations for New Market Entry

3.Global Tires Market: Competitive Analysis
• MMR Competition Matrix
● Market Structure by region
● Competitive Benchmarking of Key Players
● Consolidation in the Market
● M&A by region
● Key Developments by Companies
● Market Drivers
● Market Restraints
● Market Opportunities
● Market Challenges
● Market Dynamics
● PORTERS Five Forces Analysis
● PESTLE
● Regulatory Landscape by region
● North America
● Europe
● Asia Pacific
● Middle East and Africa
● South America
● COVID-19 Impact

4.Company Profile: Key players
• Company Overview
● Financial Overview
● Global Presence
● Capacity Portfolio
● Business Strategy
● Recent Developments

Key Offerings:
• Past Market Size and Competitive Landscape (2022 to 2029)
● Past Pricing and price curve by region (2022 to 2029)
● Market Size, Share, Size and Forecast by different segment | 2022-2029
● Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
● Market Segmentation - A detailed analysis by growth and trend
● Competitive Landscape - Profiles of selected key players by region from a strategic perspective
● Competitive landscape - Market Leaders, Market Followers, Regional player
● Competitive benchmarking of key players by region
● PESTLE Analysis
● PORTER's analysis
● Value chain and supply chain analysis
● Legal Aspects of business by region
● Lucrative business opportunities with SWOT analysis
● Recommendations

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