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:
Maximize Market Research (MMR) spent a lot of time and effort investigating the Automotive Tire Market, focusing on each sector while considering and regional trends. In order to create a balanced market environment, the primary drivers as well as significant restraints have been thoroughly addressed. To give readers a complete picture of the market, the research separates it into several areas, including Product, Application, Retailers, and Regions. The research also includes long-term industry estimates for the Automotive Tire Market.
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Market Scope:
The Automotive Tire market is expected to develop at a steady rate between 2021 and 2027, according to the forecast. Between 2021 and 2027, the industry is expected to grow rapidly, with leading market players putting in significant effort.
The development process is examined, as well as cost structures and development goals and objectives. This Automotive Tire market report covers import/export consumption, supply and demand, cost, price, share, sales volume, revenue, and gross margins. In the Automotive Tire market, this study looks at each producer's manufacturing sites, capacity, production, ex-factory price, market price, sales revenue, and market share. Among the countries (regions) are the United States, Canada, Mexico, Germany, France, the United Kingdom (UK), Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil, and Saudi Arabia.
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Segmentation:
In 2020, the Passenger Cars segment led the industry, accounting for nearly 48% of total revenue. The demand for passenger automobiles is largely dependent on economic conditions, which are influenced by changes in exchange rates, GDP growth, inflation rates, and government policies. Furthermore, fluctuating fuel prices and transit infrastructure tend to influence passenger car demand. The improving economic outlook in the United States, as well as rising countries such as China and India, are likely to boost PC demand in the future.
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.
Regional Analysis:
Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Automotive Tire market in these countries, which covering North America, U.S., Canada, Mexico, Europe, UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America, Brazil, and Middle East and Africa.
COVID-19 Impact Analysis on Automotive Tire Market:
The COVID-19 Pandemic has the potential to disrupt markets in three ways: by directly affecting production and demand, disrupting supply networks and marketplaces, and bankrupting businesses and financial institutions. The purpose of this research is to understand more about the current situation, the economic slump, and COVID-19's impact on the Automotive Tire market.
Key Questions answered in the Automotive Tire Market Report are:
- Which product segment grabbed the largest share in the Automotive Tire market?
- How is the competitive scenario of the Automotive Tire market?
- Which are the key factors aiding the Automotive Tire market growth?
- Which region holds the maximum share in the Automotive Tire market?
- What will be the CAGR of the Automotive Tire market during the forecast period?
- Which application segment emerged as the leading segment in the Automotive Tire market?
- Which are the prominent players in the Automotive Tire market?
- What key trends are likely to emerge in the Automotive Tire market in the coming years?
- What will be the Automotive Tire market size by 2027?
- Which company held the largest share in the Automotive Tire market?
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