Automotive Tire Market share Leaders, Future Trends and Forecast 2027

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An automotive tyre is a rubber-covered circular vehicle component that covers the wheel rim from the outside. The tyre's primary duty is to protect the wheel rim while simultaneously delivering tractive force between the vehicle and the road surface. Because it is made of rubber, it also functions as a flexible cushion, absorbing vibrations and cushioning vehicle shock. Tread, jointless cap heaps, beads, and other materials such as synthetic rubber, carbon black, and fabric are used to make rubber tyres.

Automotive Tire Market Scope and Research Methodology

The report comprehensively analyses the Automotive Tire  Market's trends, forecasts, and monetary values. The report provides an in-depth analysis of the segments and sub-segments in and regional Automotive Tire  markets. The report contains a bottom-up approach to understanding estimations of the market size. Key market participants and new entrants' services, revenue, financial status, portfolio, growth strategies, and regional presence are all included in the Automotive Tire    Market report. The report forecasts the market size and growth rate along with existing and future trends in the Automotive Tire  market.

The Automotive Tire market report provides demand projections, market trends, and micro and macro factors in depth. It also identifies the factors that are driving and restricting the Automotive Tire  market's growth. The qualitative and quantitative methods are included in the report. Research using SWOT, PESTLE, and Porter's Five Force tools are used for the analysis of the Automotive Tire  market. The analysis identified key upcoming developments that are expected to influence Automotive Tire  market demand over the forecast period. 

Automotive Tire Market Report Overview:

The main objective of the SMR’s Automotive Tire Market report is to help clients make business decisions, which help them decide which areas they need to improve, which are already performing well and help the new entrant in their landing and penetrating the competition. The report also enlightens about the challenges prevailing in the Automotive Tire    Market.

Automotive Tire Market size was valued at US$ 118 Billion in 2020 and the total Automotive Tire Market revenue is expected to grow at 6.32% through 2021 to 2027, reaching nearly US$ 181.21 Billion.

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Automotive Tire Market Regional Analysis:

Geographically, Automotive Tire  Market report is segmented into several key regions are as follows,

• Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
• Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
• North America (the United States, Mexico, and Canada.)
• South America (Brazil etc.)
• The Middle East and Africa (GCC Countries and Egypt.)

Automotive Tire Market Segmentation:

In 2020, the Passenger Cars category dominated the automotive tire market in terms of revenue, accounting for more than 48% of total revenue. Passenger car demand is heavily influenced by economic situations such as changes in exchange rates, GDP growth, inflation rates, and government policies. Furthermore, variable fuel prices and transportation infrastructure influence passenger automobile demand. The better economic outlook in the United States, as well as emerging nations such as China and India, are likely to drive future PC demand.

In 2020, the Light Commercial Vehicle (LCV) sector accounted for around 37% of total sales, earning a significant market share. Operating and maintaining an LCV is inexpensive. Furthermore, because LCVs consume less gasoline than passenger vehicles, tyre producers are developing more commercial tyre products than passenger car tyres, as the CV market rapidly catches up.

Automotive Tire Market Key Players:

The Goodyear Tire & Rubber Company (USA)
Pirelli & C.S.p.A. (Italy)
Apollo Tyres Ltd. (India)
CEAT Ltd. (Italy)
China National Tire & Rubber Co. Ltd. (China)
Cooper Tire & Rubber Co., Ltd. (UK)
Giti Tire (Singapore)
Bridgestone Corporation (Japan)
Continental AG (Germany)
Michelin (France)
Sumitomo Rubber Industries, Ltd. (Japan)
Toyo Tire & Rubber Co., Ltd. (Japan)
Yokohoma Tire Corporation (Japan)
Maxxis International (Taiwan)
Cheng Shin Rubber Industry Co. (China)
Hangzhou Zhongce Rubber Co., Ltd. (China)
Hankook Tire (South Korea)
JK Tyre & Industries Ltd. (India)
Kumho Tire Co., Inc. (South Korea)
Nexen Tire Corporation (South Korea)
Nokian Tyres plc (Finland)
Qingdao Fullrun Tyre Corp., Ltd. (China)

Key questions answered in the Automotive Tire Market are:

• What was the Automotive Tire  market size in 2021?
• What is the growth rate of the Automotive Tire  Market?
• Which are the factors expected to drive the Automotive Tire  market growth?
• What are the different segments of the Automotive Tire  Market?
• What are the factors restraining the growth of the Automotive Tire  Market?
• What segments are covered in the Automotive Tire  Market?
• Who are the key players in the Automotive Tire  market?
• What are the upcoming industry applications and trends for the Automotive Tire  Market?

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About Stellar Market Research

Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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