Press release
Automotive Tire Market to Reach $306 Billion, Globally, by 2022
Allied Market Research
Access Full Summary at: https://www.alliedmarketresearch.com/automotive-tire-market
Increase in sales of automotive vehicles, rise in competition among tire manufacturers, enhancement of manufacturing processes, and increase in operating life of automobiles fuel the automotive tire market. However, growing market of retreading tires, and fluctuation in cost of raw materials could restrict the growth of this market. Moreover, rise in sales of automobiles across the globe is expected to unfold various opportunities for the key players.
By type, the tire market is further bifurcated into radial tire and bias tire. The radial tire segment generated the maximum revenue in 2015 and is expected to grow at a faster rate. However, the bias tire segment is anticipated to garner the highest CAGR of 7.9% during the analysis period.
By vehicle type, the automotive tire market includes two wheelers, passenger cars, light commercial vehicles, and heavy commercial vehicles. Passenger car tire is the fastest growing segment of tire market, globally; and is projected to garner a CAGR of 7.6% during the forecast period. However, the two wheeler segment is estimated to garner the highest CAGR of 7.8%. Asia-Pacific accounted for the largest revenue share in 2015, occupying a market share of around 42% and is expected to grow at a CAGR of 7.4%.
Request Sample Report at: https://www.alliedmarketresearch.com/request-free-sample/924
Key Findings of Automotive Tire Market
1. In 2015, passenger cars segment generated a revenue of $79 billion, and is expected grow at a CAGR of 7.6% and maintain its dominant position throughout forecast period.
2. In 2015, radial tire segment generated the maximum revenue of $145 billion and is expected to maintain its dominant position throughout the forecast period.
3. Bias tire segment is anticipated to witness the highest growth rate, at a CAGR of 7.9%.
4. In 2015, Asia-Pacific dominated the automotive tire market, generating revenue of $78 billion.
The key players profiled in the automotive tire market include Bridgestone Corporation, Continental AG, Pirelli & C. S.p.A, Michelin, The Goodyear Tire & Rubber Co., Sumitomo Rubber Industries, Ltd., Madras Rubber Factory Limited, The Yokohama Rubber Co. Ltd., JK Tyre & Industries Ltd., and CEAT Ltd.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. The data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact
Pankaj Kumar
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Direct: +1-503-894-6022
Toll Free: +1 (800) 792-5285 (U.S. & Canada)
Fax: +1 (855) 550-5975
E-mail: sales@alliedmarketresearch.com
Website: www.alliedmarketresearch.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Tire Market to Reach $306 Billion, Globally, by 2022 here
News-ID: 445131 • Views: …
More Releases from Allied Market Research
Navigating Growth Trajectories in the Global Bio-based PET Market: Trends, Drive …
Allied Market Research recently released a comprehensive report titled "Global Bio-based PET Market," which highlights that the market reached an estimated value of $441.3 million in 2021 and is projected to reach $941.4 million by 2031, exhibiting a robust compound annual growth rate (CAGR) of 7.9% from 2022 to 2031. The report offers detailed insights into key investment areas, winning strategies, drivers, opportunities, market size estimations, competitive landscape, and evolving…
Fraud Detection and Prevention Market was valued at $29.5 billion in 2022 and to …
The fraud detection and prevention industry was valued at $29.46 billion in 2022, and is estimated to reach $252.7 billion by 2032, growing at a CAGR of 24.3% from 2023 to 2032.
The retail sector registered highest market growth rate during the forecast period. Rise in penetration of mobiles and internet across retail sector propels adoption of fraud detection and prevention solutions in the Retail sector. In addition, data from the…
Exploring Growth Opportunities in the India Polyvinyl Acetate Market: Trends, Dr …
Allied Market Research has recently released a comprehensive report titled "India Polyvinyl Acetate Market," offering an in-depth analysis of the global market, encompassing crucial aspects such as growth drivers, challenges, market developments, investment opportunities, future prospects, and emerging trends. The report sheds light on key trends and opportunities poised to shape the industry's growth trajectory in the near future.
The India Polyvinyl Acetate market is anticipated to witness significant volume growth…
Global Modular Chiller Market: Comprehensive Analysis of Segmental Insights, Ind …
Allied Market Research presents a report on the global modular chiller market, forecasting it to reach $3,698.0 million by 2027 at a CAGR of 6.2%. The report delivers an in-depth analysis of current and emerging trends, market dynamics, segmentation, opportunity assessment, and competitive landscape within the modular chiller industry.
Download PDF Sample: https://www.alliedmarketresearch.com/request-sample/A09422
Market Dynamics
Modular chillers are versatile, catering to various settings like commercial, industrial, and residential spaces by offering precise…
More Releases for CAGR
Cat Litter Box Market | CAGR of 9.1% | Revenue & CAGR of 9.1%
Cat Litter Box Market Report provides precise data about the market size, commercialization aspects and revenue forecast of the industry. The global Cat Litter Box market offers a historical factsheet relevant to the strategic mergers, acquirements, joint venture activities, and partnerships spread in the Cat Litter Box market. The most advanced data has been presented in the study on the revenue numbers, product details, and sales of the major firms.…
Predictive Analytics Market Growing at Strong CAGR of CAGR of 25.31% 2019
Predictive analytics helps to extract information from the existing data. It helps in understanding the pattern and predict the trend or future for the organization. It uses what-if scenarios to predict possible risks involved in the future. Predictive analytics also helps in the optimization of the marketing campaigns and understanding of the customer behaviour for increasing the end-user response and to reduce the churn.
Predictive analytics is segmented into:
Risk management:…
Global Absorption Chillers Market Reflecting a CAGR of 7.6% CAGR through 2025
The demand for thermally-driven chillers in multiple industrial verticals is poised to grow in the immediate future. Considering the rising demand for electrical chillers in commercial, residential as well as industrial settings, the adoption of absorption chillers will gain traction at considerable rate. By consuming lesser energy than conventional electrical chillers, absorption chillers will also garner surplus demand for not using ozone-depleting chlorofluorocarbons (CFC) for chilling purposes. Persistence Market Research’s…
Aircraft Sensors Market Growing at a CAGR of 6.4% CAGR By 2022
The global aircraft sensors market is forecasted to receive a strong push in its growth momentum on the back of advancements in technologies, massive investments forwarded by private equity groups, and the elevation in the demand for aircraft. Adherence to the requirements and regulations of authorities such as local aircraft regulatory bodies and the Federal Aviation Administration (FAA) could pamper the growth of the market. Nonetheless, there could be more…
China Baby Diapers Market Reflecting a CAGR of 19.1% CAGR 2012-2017
The increasing birth rate in China has proven to be a boon for the country’s baby diaper’s market. To provide a comprehensive analysis of the growth trajectory exhibited by the China baby diapers market and study the impact of the dynamic regulatory policies on the market, Transparency Market Research (TMR) has published a report, titled “Baby Diapers Market - China Industry Analysis, Market Size, Share, Growth, Trends And Forecast, 2012…
Ecg Device Market Register a CAGR Growth of 4.1% CAGR by 2024
This region holds highest market share over the forecast period (2016-2024) and is expected to exhibit slow growth rate. The Asia Pacific is expected to be the fastest-growing region for ECG devices owing to its increasing incidence rate of cardiovascular diseases and high population.
ECG devices are experiencing a paradigm technological shift from resting ECG systems to portable Holter monitoring systems, owing to their advantages of patient mobility, low prices and…
