Automotive Tire Market: size was valued at US$ 118 Billion in 2020 and the total Automotive Tire Market revenue is expected to grow at 6.32% through 2021 to 2027, reaching nearly US$ 181.21 Billion.
Automotive Tire Market Overview:
Stellar Industry Research's Automotive Tire Industry Report offers readers a detailed evaluation of the worldwide market landscape. This Automotive Tire Market study examines the situation from 2021 to 2027, using 2020 as the base year and historical data from 2016 to 2019. This study aids clients in making key business choices by delivering a variety of research-based information.
This market study on the Automotive Tire market is based on an in-depth examination of the industry, supplemented by secondary and primary sources. To estimate market volume, Automotive Tire's country-by-country model mappings, which include local and international financial data as well as relevant patent and regulatory databases, are employed. The competitive climate of the Automotive Tire sector is supported by an assessment of the various elements that affect the market on a microscopic and comprehensive level. By examining historical data, recent trends, and major business statements, analysts in the Automotive Tire industry generate forecasts and estimations, as well as compute market prognosis.
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This study includes business screening for the client's specialty area, as well as up-to-date relevant data on strategic priorities such as consolidations, procurements, collaborations, developments, and product releases for top companies on a local scale for a variety of industries or markets depending on the client's billing cycle. Our data is continually updated and amended by a team of research specialists to reflect the most recent trends and facts. We have extensive research and consulting experience in a wide range of business disciplines, allowing us to meet the needs of both people and corporations. Our educated staff employs unique data sources as well as a variety of diverse tactics. The following companies are prominent players in the Automotive Tire industry:
Europe (including Germany, France, the United Kingdom, Russia, and Italy), Asia-Pacific (including China, Japan, Korea, India, and Southeast Asia), Latin America (including Brazil, Argentina, and Colombia), the Middle East, and Africa have all been researched (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa). The research looks at regional competitive settings. This information may be used by market players to better their approaches and provide new chances to accomplish extraordinary results.
Automotive Tire Market Segmentation:
The Passenger Cars category dominated the automotive tire market by revenue in 2020, contributing for over 48% of total revenue. Economic conditions, which are influenced by changes in exchange rates, GDP growth, inflation rates, and government policies, have a big impact on passenger car demand. Furthermore, passenger automobile demand is influenced by fluctuating fuel prices and transit infrastructure. The improving economic outlook in the United States, as well as emerging markets like China and India, are expected to bolster PC demand in the future.
The Light Commercial Vehicle (LCV) segment accounted for roughly 37% of total sales in 2020, capturing a major share of the market. The cost of operating and maintaining an LCV is low. Furthermore, because LCVs are more fuel efficient than passenger cars, tyre manufacturers are creating more commercial tyre products than passenger car tyres, as the CV market is rapidly catching up.
Automotive Tire Market Key Players:
The Goodyear Tire & Rubber Company (USA)
Pirelli & C.S.p.A. (Italy)
Apollo Tyres Ltd. (India)
CEAT Ltd. (Italy)
China National Tire & Rubber Co. Ltd. (China)
Cooper Tire & Rubber Co., Ltd. (UK)
Giti Tire (Singapore)
Bridgestone Corporation (Japan)
Continental AG (Germany)
Sumitomo Rubber Industries, Ltd. (Japan)
Toyo Tire & Rubber Co., Ltd. (Japan)
Yokohoma Tire Corporation (Japan)
Maxxis International (Taiwan)
Cheng Shin Rubber Industry Co. (China)
Hangzhou Zhongce Rubber Co., Ltd. (China)
Hankook Tire (South Korea)
JK Tyre & Industries Ltd. (India)
Kumho Tire Co., Inc. (South Korea)
Nexen Tire Corporation (South Korea)
Nokian Tyres plc (Finland)
Qingdao Fullrun Tyre Corp., Ltd. (China)
COVID-19 Impact Analysis on Automotive Tire Market:
The Global Automotive Tire Market Research Report provides a snapshot of the industry based on important metrics such as sales volume, revenue, and sales forecasts, as well as main drivers. The market is predicted to expand significantly throughout the forecasted period (2021-2027). This report also includes the most current market repercussions of COVID-19. The outbreak's global expansion has had a wide-ranging impact on people's lives. As a result, industries have been compelled to embrace new methods, attitudes, and techniques. The case study attempts to depict the market's current and future expectations.
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Key Questions Answered in the Automotive Tire Market Report are:
- How has the competitive landscape of the Automotive Tire market recently changed?
- What are the market size and share of Automotive Tire?
- Where can I get example market studies and business profiles?
- Who are the prospective customers in the Automotive Tire market?
- Who are the main rivals in the Automotive Tire industry?
- Where can I obtain business profiles for the top ten Automotive Tire market participants?
- Which region now and in the future has the greatest commercial potential for Automotive Tire?
- Who are the service providers in the Automotive Tire industry?
- What are the primary growth strategies of Automotive Tire industry competitors?
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