Automotive Tire Market: Ecologically Viable Tires & the Improving Economic Conditions around the World drives Demand

With the help of the latest research tools, the report sheds light on the key aspects of the automotive tire market and its growth trajectory for the coming years. The market’s driving and restraining factors have been highlighted and analyzed and the impact of global and regional trends has also been assessed. A list of tables has been included in the report, giving readers a statistical understanding of where the automotive tire market stands and where it is headed.

The global automotive tire market has been segmented based on type, application, and region. On the basis of type, the automotive tire market is divided into bias tires and radial tires. By application, the automotive tire market is categorized into light commercial vehicles, passenger vehicles, two wheelers, and heavy commercial vehicles. In terms of geography, the global market comprises Europe, North America, Asia Pacific, and Rest of the World.

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Overview of the Automotive Tire Market

The global automotive tire market is estimated to expand at a CAGR of 6.60% from 2015 to 2021, the report’s forecast period. The value of the market was US$188.3 bn in 2014 and is predicted to increase to US$298.1 bn by the end of the forecast period.

Radial tires make up the largest product segment of the automotive tire market thanks to the rising advancements in technology. Passenger cars formed the largest application segment in 2014 owing to the high demand stemming from Asia Pacific and Europe. Developed as well as developing countries have been witnessing a rapid surge in demand for passenger cars due to high per capita income. Asia Pacific is the dominant regional market for automotive tires with strong demand from countries such as Japan, China, Australia, and India.

Some of the key factors driving the global automotive tire market are the rise in commercial and passenger vehicles, the growing demand for ecologically viable tires, the improving economic conditions around the world, and the rapid advancement in technology. Apart from this, the change in buyer preferences, evolving lifestyles, and the demand for luxury and sports utility vehicles are projected to propel the market for automotive tires in the coming years. The growing focus on consumer safety, the availability of cost-effective and reliable technologies, and strict government rules have also helped the growth of the automotive tire market.

Companies Mentioned in the Report

Pirelli, Yokohama, MRF Tyre, Michelin, Goodyear, Bridgestone, and Continental are some of the noteworthy companies featured in the automotive tire market report. This section covers key aspects such as company and financial overview, recent developments, and business strategies. A SWOT analysis carried out by analysts highlights the strengths, weaknesses, opportunities, and threats of each company.

Automotive Tire Market, by Types

Radial tires
Bias tires
Automotive Tire Market, by Application
Passenger vehicles

Light commercial vehicles
Heavy commercial vehicles
Two wheelers
Automotive Tire Market, by Geography:

North America
Europe
Asia Pacific
Rest of the World
This report gives you access to decisive data such as:

Market growth drivers
Factors limiting market growth
Current market trends
Market structure
Market projections for the coming years

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