Automotive Tire Market Is Projected To Grow Owing To An Increase In The Demand For The Automotive Industry

The Latest report initiated by Evolve Business Intelligence on Automotive Tire Market provides a detailed assessment of the market size and forecast from 2020 to 2028. The global Automotive Tire market size is expected to reach £ Billion by 2028 growing at the CAGR of 10% from 2021 to 2028. The automotive industry has seen rapid growth in recent years.

Hot on the heels of the industrial revolution, the automobile sector is booming; consumers are selecting cars over electric bikes; passenger vehicles are soaring, and truck and bus sales are increasing too. The auto sector is seeing positive changes in all its segments. Higher incomes for people to spend on transport, like scooters or cars, coupled with improvements to living standards across the world, help increase car sales.

Electric scooter battery prices are slowly decreasing which means they’re becoming more affordable to consumers, leading to an uptick in electric scooter sales. Get Free Exclusive Sample PDF of the report: COVID-19 Pandemic has begun striking businesses across multiple sectors and industries including manufacturing, food production, automotive, aerospace & defense companies, government agencies, pharmaceutical manufacturers, and producers of oil & gas products.

The repercussions of this pandemic have caused numerous knock-on effects on several worldwide markets which include the Automotive Tire Market as well as many regional economies due to temporary closedown of manufacturing facilities. End-users of these products are also suffering from decreased demand for their goods because businesses are refraining from their long-term strategies in favor of short-term survival. Key Players profiled in Automotive Tire report:

  • Bridgestone Corporation
  • Continental corporation
  • Pirelli Tyre C.

    S.p.A. (China National Chemical Corporation)

  • The Goodyear Tire & Rubber Company
  • Toyo Tire Corporation
  • Sumitomo Rubber Industries Ltd
  • The Yokohama Rubber Co., Ltd
  • Hankook Tire & Technology Co., Ltd
  • Nokian Tyres plc

The study provides a detailed analysis of major players in the Automotive Tire market which includes manufacturers, suppliers, and organizations, among others. The competitor analysis includes revenue regeneration, business segment analysis, and geographic presence across each country, key strategies and developments, product portfolio, and SWOT Analysis. Global Automotive Tire Market Segmentation:

  • Based on Season Tire Type
    • Summer
    • Winter
    • All Season
  • Based on Vehicle Type
    • Passenger Car
    • Commercial Vehicle
    • Light commercial
    • Heavy commercial
    • Electric Vehicle
  • Based on the Rim Size
    • Less than 15
    • 15 to 20
    • More than 20
  • Based on the Distribution Channel
    • OEM
    • Aftermarket

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Global Automotive Tire Market Geographic Coverage:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Rest of the World
    • South America
    • Middle East & Africa

Asia-Pacific is the world’s fastest-growing region for automotive production. Companies such as BMW AG (Germany) and Volkswagen Group (Germany), which have already set up plants in the Asia Pacific, are experiencing a soft demand within their established markets. The per capita income for this region is growing at a rapid pace and with the presence of a limited number of players, a significant demand for additional cars with upgraded features from developing countries has been noticed.

IMP NOTE: All our reports will be updated considering the impact of the COVID-19 scenario. Crucial pointer covered in the report: Automotive Tire Market Understanding: This section of our report outlines pertinent topics about the market that we have researched and the direction we see the industry heading.

These include, but aren’t limited to segments discussed, company descriptions, and key statistics regarding customer growth. This section provides a detailed analysis of the present and future growth factors of bifurcating the market into season tire type, vehicle type, rim size, distribution channel, and regions. Automotive Tire Market Dynamics: This section provides a detailed analysis of the growth factors, restraining factors, and business opportunities.

Additionally, the report provides a detailed COVID impact analysis affecting the market growth, along with a pinpoint focus on industry policies, regulatory framework, current issues impacting the market growth at the national/international level. Automotive Tire Market Regional Outlook: The country section is a breakdown by country of how the production and consumption rates correspond to each other. Automotive Tire Market Competitor Landscape: This section provides a comprehensive analysis of the market share and a deep-dive analysis of the top 10 players covered in the market report.

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