Global Automotive Tire Market Valued at US$ 167.63 Billion in 2023, Expected to Reach US$ 728.88 Billion by 2032 at a CAGR of 17.93% | Astute Analytica

The global 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐭𝐢𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 has experienced substantial growth and is anticipated to continue its upward trajectory over the next decade. According to recent market research, the market was valued at approximately 𝐔𝐒$ 𝟏𝟔𝟕.𝟔𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑. It is projected to reach an impressive 𝐔𝐒$ 𝟕𝟐𝟖.𝟖𝟖 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, representing a robust compound annual growth rate (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟏𝟕.𝟗𝟑% during the forecast period from 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟐.

𝐓𝐡𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞- https://www.astuteanalytica.com/request-sample/automotive-tire-market

This remarkable growth can be attributed to several factors, including the increasing demand for vehicles worldwide, advancements in tire technology, and the growing focus on enhancing vehicle safety and performance. Additionally, the rise in consumer preference for premium and high-performance tires, along with the expansion of the automotive industry in emerging markets, is driving the market's expansion.

The automotive tire industry is witnessing significant innovations, with a shift towards eco-friendly and sustainable tire solutions. Manufacturers are investing in research and development to produce tires with improved durability, fuel efficiency, and reduced environmental impact. The integration of smart tire technology, which includes sensors and data analytics, is also gaining traction, offering enhanced performance monitoring and safety features.

𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐓𝐢𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭:

𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐚𝐥𝐮𝐞 (𝟐𝟎𝟐𝟑): US$ 167.63 billion
𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐞𝐝 𝐌𝐚𝐫𝐤𝐞𝐭 𝐕𝐚𝐥𝐮𝐞 (𝟐𝟎𝟑𝟐): US$ 728.88 billion
𝐂𝐀𝐆𝐑 (𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐): 17.93%
𝐊𝐞𝐲 𝐃𝐫𝐢𝐯𝐞𝐫𝐬: Increasing vehicle demand, advancements in tire technology, focus on safety and performance, rise in consumer preference for premium tires
𝐄𝐦𝐞𝐫𝐠𝐢𝐧𝐠 𝐓𝐫𝐞𝐧𝐝𝐬: Eco-friendly tire solutions, smart tire technology

The report underscores the importance of staying abreast of market trends and technological advancements to capitalize on emerging opportunities and navigate the competitive landscape effectively.

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐭𝐢𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐧𝐝 𝐭𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐯𝐢𝐬𝐢𝐭:- https://www.astuteanalytica.com/industry-report/automotive-tire-market

𝐓𝐨𝐩 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐆𝐥𝐨𝐛𝐚𝐥 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐭𝐢𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

Bridgestone Corp.
Goodyear Tire & Rubber Company
Continental AG
Michelin
Sumitomo Rubber Industries
Pirelli
Cooper Tire & Rubber Company
Hoosier Racing Tire
Titan Tire Corp.
Vogue Tyre
Yokohama Tire Corp.
Dunlop Tires
Toyo Tires
Hankook
CEAT Specialty
Apollo Tyres
Kumho Tires
Other Prominent Players

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐁𝐲 𝐓𝐲𝐩𝐞

Radial
Tube
Tubeless
Bias
By Vehicle Type

Commercial
Light
Medium
Heavy
Passenger
Bikes
Cars
Buses
Others
Electric
By Season Type

All Season Tires
Summer Tires
Winter Tires
Touring Tires
Performance Tires
Rib Tires
Others
By Application

On the Road
Off the Road
By Distribution Channel

OEM
Aftermarket
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
South Korea
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
Saudi Arabia
South Africa
UAE
Rest of MEA
South America
Argentina
Brazil
Rest of South America

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/automotive-tire-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:

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This release was published on openPR.