Automotive Tire Market size was valued at USD 116 Bn. in 2020. Radial Tires, one of the segments reviewed in our report is dominating the market.

Automotive Tire Market Overview

During the forecast period 2021-2027, Automotive Tire Market is expected to grow steadily. Automotive Tire Market research provides insights on the latest trends. It outlines the key characteristics of the market, focusing not only on the major regions and applications, but also on the sectors of the major players who recorded the highest demand. It provides both qualitative and quantitative information on topics, challenges, and opportunities that will shape the growth of the market from 2021 to 2027.

Market Scope:

The research report evaluates the attractiveness of geographies and sectors based on the compound annual growth rate (CAGR) and market size. Leading analysts and industry experts have scrutinised the study's results and data. The research looks at forecasted data, revenues, and major events. It also concentrates on key methods employed by well-known Automotive Tire sector firms. This provides readers with up-to-date market data that is both relevant and thorough.

Data on market size, forecasted trends, market share, market dynamics, opportunities, threats, risks, and entry barriers are all presented. To provide users with comprehensive information, all of the main aspects and analytical market data are scientifically displayed in the form of graphs, tables, pie charts, and product statistics.

MMR Research Methodology Used for Automotive Tire market Report

This Automotive Tire Market analysis estimates the market size for value (million USD). Top-down and bottom-up approaches were used to estimate and validate the market size of the Automotive Tire market, as well as the size of several other dependent submarkets in the overall market. To identify important market participants, secondary research was utilised, and primary and secondary research were employed to determine their market shares. All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed primary sources.

 Objective of the Automotive Tire market Report

• Investigate and analyse Automotive Tire market size (value and quantity) by companies, key regions / countries, products and applications, historical data from 2016 to 2018, and forecasts by 2027.
• Understand the structure of Automotive Tire. Enter the market through the classification of various sub-segments.
• Share detailed information on key factors that influence market growth (industry trends, opportunities, drivers, challenges, and market risks).
• Define, explain and analyse sales volume, value, market share, market competitiveness, SWOT analysis, and future growth plans with a focus on key Automotive Tire manufacturers.
• Analyse Automotive Tire in relation to specific growth trends, outlooks, and contributions to the market.
• To project the value and volume of Automotive Tire submarkets, with respect to key regions (along with their respective key countries).
• To analyse the economic and political market situation in the , regional, and country level report includes, PESTEL analysis, PORTER`s 5 forces Analysis, COST analysis, and regulatory landscape also helps to find government contribution and restriction for the Automotive Tire market.

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Get more Report Details

Segmentation:

The Passenger Cars category dominated the industry in revenue in 2020, 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.
The Light Commercial Vehicle (LCV) segment accounted for roughly 37% of total sales in 2020, capturing a major share of the market. The cost of operating and maintaining an LCV is low.

Key Players:

• Bridgestone Corporation
• Continental AG
• Michelin
• The Goodyear Tire Rubber Company
• Pirelli C.S.p.A.
• Apollo Tyres Ltd.
• CEAT Ltd.
• China National Tire Rubber Co. Ltd.
• Cooper Tire Rubber Co., Ltd.
• Giti Tire
• Hangzhou Zhongce Rubber Co., Ltd.
• Hankook Tire
• JK Tyre Industries Ltd.
• Kumho Tire Co., Inc.
• Nexen Tire Corporation
• Nokian Tyres plc
• Qingdao Fullrun Tyre Corp., Ltd.
• Sumitomo Rubber Industries, Ltd.
• Toyo Tire Rubber Co., Ltd.
• Yokohoma Tire Corporation
• Maxxis International
• Cheng Shin Rubber Industry Co.

Based on records and financial statistics with the company overview of key players/manufacturers, the research report focuses on the present market size of the Automotive Tire markets and their growth rates.

COVID-19 Impact on the Market

COVID19 has the potential to have three major effects on the economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Our analysts, who are monitoring the situation throughout the world, believe that the market would provide producers with lucrative opportunities following the COVID19 dilemma. The purpose of the report is to provide a more detailed representation of the current circumstances, the economic slowdown, and the influence of COVID19 on the total industry.

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