Automotive Tires Market Set for More Growth | Bridgestone, Goodyear Tire & Rubber, Continental AG, Michelin

Global Automotive Tires- Market Report from AMA Research highlights deep analysis on market characteristics, sizing, estimates and growth by segmentation, regional breakdowns & country along with competitive landscape, player’s market shares, and strategies that are key in the market. The exploration provides a 360° view and insights, highlighting major outcomes of the industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improved profitability. In addition, the study helps venture or private players in understanding the companies in more detail to make better informed decisions.

Major Players in This Report Include,

Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), Sumitomo Rubber Industries (Japan), Apollo Tyres Ltd (India), Pirelli & C. S.p.A (Italy), Bridgestone Corporation (Japan), Zhongce Rubber Group Co., Ltd. (China), CEAT Limited (India), Hankook & Company Co., Ltd. (South Korea), JK Tyre & INDUSTRIES LTD. (India),

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The automotive tire is the ring-shaped vehicle component made of rubber that is used to cover the wheels rim externally. The major function of the tire is to protect the wheel rim and transfer a vehicle's load from the axle through the wheel to the ground. It offers traction on the surface over which the wheel travels. Since it is manufactured from rubber which includes nylon, rayon, and steel-belted material, it also provides a flexible cushion, thereby reducing the impact of the vibrations and absorbing the shock of the vehicle. Rubber tire consists of tread beads, joint-less cap piles, and other materials. The rise in the demand for vehicles is the major factor that boosts the growth of the market in the forecast period.

According to AMA, the market for Automotive Tires- is expected to register a CAGR of 2.9% during the forecast period to 2028. This growth is primarily driven by The Rising Demand for Commercial and passenger vehicles and Rising Growth in sales of sports utility vehicles (SUVs), crossover utility vehicles (CUVs), and pick-up trucks.

Opportunities

·      Increasing demand for the high-performance tires

Market Drivers

·      The Rising Demand for Commercial and passenger vehicles

·      Rising Growth in sales of sports utility vehicles (SUVs), crossover utility vehicles (CUVs), and pick-up trucks

Market Trend

·      Growing demand for Retreading of Light Commercial Vehicle (LCV) tires

Challenges

·      Slowdowns in Automotive Sectors

Key Developments in the Market: In June 2021, Goodyear Tire & Rubber Company acquired Cooper Tire & Rubber Company, closing a merger agreement disclosed on February 22nd. This combination unites two major tire companies with complementary product portfolios, services, and capabilities to create a stronger US-based leader. In the global tire industry, the combined companies have made it easier for customers and consumers to choose Goodyear and Cooper branded tires by providing more options across the value spectrum.

In December 2021 - Nokian Tyres plc Company announced the launch of new non-studded NOKIAN TYRES Hakkapeliitta(R) R5. The main features of these tires offer unprecedented ice grip, silence, and eco-friendly mobility for the winter. and According to the "2020 Domestic Demand for Automobile Tires" released by the Japan Automobile Tyre Manufacturers Association (JATMA), the sales of new automobile tires for vehicles in 2020 were 36,439,000 down, a 17% decrease year-to-year.

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In this research study, the prime factors that are impelling the growth of the Global Automotive Tires- market report have been studied thoroughly in a bid to estimate the overall value and the size of this market by the end of the forecast period. The impact of the driving forces, limitations, challenges, and opportunities has been examined extensively. The key trends that manage the interest of the customers have also been interpreted accurately for the benefit of the readers.

The Automotive Tires- market study is being classified by Type (Radial, Bias), Vehicle (Passenger Vehicle, Commercial Vehicle, Electric vehicle), Carcass Materials (Nylon, Rayon’s, Steel Belted), Type (Radial, Bias), Rim Size (Less Than 15 Inches, 15 to 20 Inches, More than 20 Inches), Sales Channel (OEM, After Market), Season (Winter, Summer, All-season)

The report concludes with in-depth details on the business operations and financial structure of leading vendors in the Global Automotive Tires- market report, Overview of Key trends in the past and present are in reports that are reported to be beneficial for companies looking for venture businesses in this market. Information about the various marketing channels and well-known distributors in this market was also provided here. This study serves as a rich guide for established players and new players in this market.

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Extracts from Table of Contents

Automotive Tires- Market Research Report

Chapter 1 Automotive Tires- Market Overview

Chapter 2 Global Economic Impact on Industry

Chapter 3 Global Market Competition by Manufacturers

Chapter 4 Global Revenue (Value, Volume*) by Region

Chapter 5 Global Supplies (Production), Consumption, Export, Import by Regions

Chapter 6 Global Revenue (Value, Volume*), Price* Trend by Type

Chapter 7 Global Market Analysis by Application

………………….continued

This report also analyzes the regulatory framework of the Global Markets Automotive Tires- Market Report to inform stakeholders about the various norms, regulations, this can have an impact. It also collects in-depth information from the detailed primary and secondary research techniques analyzed using the most efficient analysis tools. Based on the statistics gained from this systematic study, market research provides estimates for market participants and readers.