Automotive Tire Market Opportunities, Industry and Forecast 2027

[manisha kashid]

An automotive tyre is a rubber-covered circular vehicle component that covers the wheel rim from the outside. The tyre's primary duty is to protect the wheel rim while simultaneously delivering tractive force between the vehicle and the road surface. Because it is made of rubber, it also functions as a flexible cushion, absorbing vibrations and cushioning vehicle shock. Tread, jointless cap heaps, beads, and other materials such as synthetic rubber, carbon black, and fabric are used to make rubber tyres.

Automotive Tire Market Report Scope and Research Methodology:

The market report provides historical data and revenue growth estimates at the regional and country levels, as well as a full analysis of Automotive Tire     market trends in each of the main segments and its sub-segments from 2022 to 2029. The Stellar Market Research team's major research approach is data triangulation, which includes an investigation of the impact of data variables on the Automotive Tire   market, data mining, and primary (industry expert) validation. The research paper discusses the past and present state of the Automotive Tire   market. predicted trends and size. The study report provides an easy-to-understand examination of the Automotive Tire   market's intricate statistics. SWOT analysis was utilized to identify the strengths, weaknesses, opportunities, and threats for major players in the Automotive Tire   industry, and a bottom-up technique was employed to estimate market size.

Automotive Tire Market Report Overview:

The forecast was created mostly by analysing historical data and current market trends in the Automotive Tire Market. It includes market size, share, regional analysis, dynamics, CAGR, and future trends, making the study a useful reference for investors because it provides a forward-looking picture of the Automotive Tire   Industry.

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.

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Automotive Tire Market Regional Analysis:

The Automotive Tire   Market research examines all regions: Europe, North America, Asia-Pacific, the Automotive Tire , and Latin America. The report provides the current condition and prediction for the regional Automotive Tire market in terms of market size, share, and volume.

Automotive Tire Market Segmentation:

In 2020, the Passenger Cars category dominated the automotive tire market in terms of revenue, accounting for more than 48% of total revenue. Passenger car demand is heavily influenced by economic situations such as changes in exchange rates, GDP growth, inflation rates, and government policies. Furthermore, variable fuel prices and transportation infrastructure influence passenger automobile demand. The better economic outlook in the United States, as well as emerging nations such as China and India, are likely to drive future PC demand.

In 2020, the Light Commercial Vehicle (LCV) sector accounted for around 37% of total sales, earning a significant market share. Operating and maintaining an LCV is inexpensive. Furthermore, because LCVs consume less gasoline than passenger vehicles, tyre producers are developing more commercial tyre products than passenger car tyres, as the CV market rapidly catches 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)
Michelin (France)
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)

Key Questions answered in the Automotive Tire Market Report are:

What are the Automotive Tire   market segments?

Which region of the Automotive Tire    market is expected to grow at a high rate during the forecast period?

What is the expected CAGR of the Automotive Tire   market during the forecast period?

What are the emerging trends in the Automotive Tire   market?

What are the factors restraining the Automotive Tire    market growth?

Key offerings:

• Past Market Size and Competitive Landscape
• Past Pricing and price curve by region
• Market Size, Share, Size & Forecast by different segment
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segments and sub-segments
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• 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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About Stellar Market Research

Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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