Market Research Future published latest “Automotive Tire Market 2019 Global Industry Analysis To 2025 Report. According to this report Global Automotive Tire Market size is observed to increase USD 262.72 billion at Compound Annual Growth Rate of 4.48% by 2025. Market for Automotive Tire Industry is segmented by Type (Radial, and Bias), Section Width (<200 Mm, 200-230mm, >230mm), Vehicle Type (Passenger Car, and Commercial Vehicle), End Market (OEM, and Aftermarket) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Key Players Analyzed In Report:
Bridgestone Corporation(Japan), Michelin Group (France), Hankook Tire Co., Ltd. (South Korea), Continental AG (Germany), Cooper Tire & Rubber Company (U.S.), The Goodyear Tire & Rubber Company (U.S.), Yokohama Rubber Co. Ltd (Japan), Toyo Tire & Rubber Co., Ltd (Japan), Pirelli (Italy), and Sumitomo Rubber Industries, Ltd. (Japan).
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Automotive Tire Market Insights:
Market Research Future (MRFR), in its new “Automotive Tire Market” report, states that the global market of automotive tires is expected to exhibit a CAGR of 4.48 % across the forecast period of 2017 to 2023. As per MRFR, the global automotive tire market is expected to attain a valuation of USD 262.72 billion by 2023. Robust Aftermarket Services to Bolster Automotive Tire Market Growth
Over a couple of years, transformation in production of automotive tires has been observed due to the growth in need for more effective and environment-friendly automotive tires. This is expected to contribute significantly to the growth of the automotive tire market. The increase in the global population base, the rise in need for traveling, and increase in the purchasing power of people are some of the factors that are escalating the sales of automobiles. Hence, the need for traditional solid, airless rubber tire is used extensively for slow-speed vehicles. Alongside, as the demand for electric and hybrid cars surge, use of non-pneumatic tires is also increasing. This is expected to catalyze the growth of the automotive tire market. In addition, the need to comply with government rules of environmental protection rules are encouraging automotive OEMs to manufacture sturdy components of vehicle tire. The increase in number of OEMs can propel the automotive tire market. Another important factor that is expected to boost the sales of tire & auto is the penetration of e-commerce. Benefits offered by e-commerce is increasing the sales of car tires online. Improved shopping experience offered in online tire shopping is expected to impel the growth of the worldwide vehicle tire market.
Automotive Tire Market Segment Insights:
The global market of automotive tire market is studied by type, width, vehicle type, and end market. By type, the market is sectioned into radial and bias. The radial segment is expected to generate lucrative CAGR over the forecast period. By width, the market is segmented into <200 Mm, >230mm, & 200-230mm. The <200 Mm segment is likely to contribute largely to the expansion of the vehicle tire market. By vehicle type, the market is split into commercial vehicle and passenger car. The passenger car segment is expected to dictate the progress of the vehicle tire market. By end markets, the market segmented into OEM and aftermarket. The OEM segment is expected to register a high CAGR during the forecast period. The inclination of people towards luxury vehicles is increasing the need for their production. Hence, the sales of tire part, such as automotive tire machine and automotive tire inner tubes, is noted to rise. In addition, the growing concern of people towards the proper maintenance of their vehicles can trigger automotive tire repair activities. In addition, extensive use of automotive tire changer and automotive tire repair in aftermarket services is also observed. Hence, the end markets segment is expected to positively impact the overall growth of the vehicle tire market.
Automotive Tire Market Regional Insights:
The increase in need for high-performance vehicle tires for luxury cars and their demand surge in North America is expected to prompt the growth of the regional automotive tire market. As per MRFR regional analysis, the market of vehicle tires in the US is expected to exhibit a CAGR of 4.60% and reach a valuation of USD 44.87 billion by 2023. Asia Pacific is known to be the manufacturing giant of automobiles. The presence of numerous OEMs and availability of robust aftermarket services in economies, such as China, India, Thailand, and Indonesia are expected to propel the growth of the vehicle tire market in APAC. The availability of economic labor and ease of procuring resources can also improve the health of the regional market.
Table Of Content:
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.1 Definition
2.1.2 Research Objective
2.1.3 Assumptions
2.1.4 Limitations
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Automotive Tire Market, By Type
4.1 Radial
4.2 Bias/Cross Ply
5 Global Automotive Tire Market, By Section Width
5.1 Introduction
5.2 <200 Mm
5.3 200-230 Mm
5.4 >230mm
6 Global Automotive Tire Market, By End Market
6.1 OEM’s
6.2 After Market
7 Global Automotive Tire Market, By Application
7.1 Passenger Cars
7.2 Commercial Vehicle
8 Regional Market Analysis
8.1 Introduction
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 U.K
8.3.2 France
8.3.3 Germany
8.3.4 Spain
8.3.5 Rest Of Europe
8.4 Asia-Pacific
8.4.1 Chin
8.4.2 Japan
8.4.3 India
8.4.4 Rest Of Asia-Pacifi
8.5 Rest Of The World
9 Competitive Analysis
9.1 Introduction
9.2 Competitive Scenario
9.2.1 Market Share Analysis
9.2.2 Market Development Analysis
9.2.3 Type/Service Benchmarking
9.3 Continental AG (Germany)
9.3.1 Overview
9.3.2 Type/Service Offering
9.3.3 Strategy
9.4 Cooper & Rubber Company (U.S.)
Continued…
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