Automotive Tire  Market Report Overview

A rubber-covered circular vehicle component that covers the rim of the wheel from the outside is known as an automotive tyre. The fundamental function of the tyre is to protect the wheel rim while also providing tractive force between the vehicle and the road surface. It also acts as a flexible cushion, reducing the impact of vibrations and absorbing the vehicle's shock because it is constructed of rubber. A rubber tyre is made composed of tread, joint less cap piles, beads, and other materials such synthetic rubber, carbon black, and fabric. The automotive tire market report provides you, PESTLE analysis, PORTER's five force analysis and segment analysis with market shares and forecast size, on the basis of vehicle type, tire type, material, rim size, sales channel and region.

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Automotive Tire Market Report Scope and Research Methodology

Leading companies invest considerably in research and development to improve efficiency and produce high-quality tyres. Tire producers have developed adaptable and lightweight tyres specifically for electric and hybrid vehicles as the popularity of electric vehicles grows. An growth in automobile manufacturing and robust demand for passenger cars are expected to boost the automotive tire market over the forecast period. Sport utility vehicles (SUVs) are growing in popularity in India and China, with significant market growth potential. According to the IOMM, 55.83 million passenger cars and 21.78 million commercial vehicles will be produced worldwide in 2020. As a result of tighter tyre performance standards and increased demand for fuel-efficient automobiles, tyre producers are being driven to design new tyres with better wet grip and lower rolling resistance. Furthermore, tyre manufacturers are resorting to automation in order to boost efficiency and productivity in order to satisfy rising demand.

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Automotive Tire  Market Regional Insights

Due to strong steering and better road contact, low heat created in tyres during operation, and flexible side walls, the radial tyre segment dominates the market with around 70% market share in terms of revenue. Furthermore, the growing desire for comfort when driving heavy-duty vehicles is complemented by radial tyres, which provide high-rate traction. Furthermore, the radial tyres' superior resilience to tread-related difficulties is a major reason driving the segment's growth in the automotive tire market.

Automotive Tire  Market Segmentation

The Passenger Cars category dominated the automotive tire market by revenue in 2023, 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.

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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)

Key questions answered in the Automotive Relay Market are:

• What is Automotive Tire  ?
• What are the global trends in the Automotive Tire  Market?
• What are the factors contributing to the final price of Automotive Tire  ?
• What are the recent industry trends that can be implemented to generate additional revenue streams for Automotive Tire  Market?
• How is the intervention from regulatory authority is shaping the Automotive Tire  Market?
• What growth strategies are the players considering to increase their presence in Automotive Tire  Market?
• Who held the largest market share in Automotive Tire  Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• 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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