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Automotive Tire Industry Business Overview, Challenges, Opportunities, Trends And Analysis By 2025

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sagar k

Summary

Global Automotive Tire Industry Report: Information by Type (Radial, and Bias), Section Width (<200 Mm, 200-230mm, >230mm), Vehicle Type (Passenger Car, and Commercial Vehicle), End Market (OEM, and Aftermarket) – Forecast till 2023

Automotive Tire Industry Research Report

The earlier forms of tires were composed of only firm rubber that did not require to be filled with air, these type of solid rubber tire were used commonly for slow-speed vehicles. Similarly, the currently popular form of tires are also airless but use a new and much more efficient type of material which is called the non-pneumatic tire and are mostly intended for use in eco-friendly car models such as hydrogen, electric and hybrid cars. 

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Competitive Analysis

The Goodyear Tire & Rubber Company (U.S.), Cooper Tire & Rubber Company (U.S.), Toyo Tire & Rubber Co., Ltd (Japan), Yokohama Rubber Co. Ltd (Japan), Sumitomo Rubber Industries, Ltd. (Japan) and Pirelli (Italy).

Segmental Analysis

The segmental analysis of the Automotive Tire Industry is based on section width, type, end market, vehicle type, and region. By type, the market is segmented into bias and radial. Among these segments, the radial segment is responsible for the major market share and is expected to remain extremely lucrative through the forecast period. On the basis of section width, the market has been segmented into >230mm, <200 Mm & 200-230mm. The <200 Mm segment is responsible for the principal market share and is also expected to develop with a rapidly growing CAGR. By vehicle type, the market segmentation comprises of passenger car and commercial vehicle. Among these segments, the passenger car segment presently accounts for the main market portion and is expected to have the highest CAGR. This will lead to the development of the segment in the future. By end markets, the market has been segmented into aftermarket and OEM. The OEM segment presently accounts for the biggest market portion and is estimated to have the top CAGR in the forecast period.

Regional Analysis 

The regional analysis of the market observes that the Asia Pacific region is responsible for the major market share in 2017, followed by the North American region which is anticipated to develop at a CAGR of 4.66 percent through the forecast period. The Asia Pacific region has the major Automotive Tire Industry, as a result of the rise in the automotive industry in nations such as Japan, China, and India. The surge in the penetration level of passenger cars and two-wheelers in the region is boosting the demand for tires. Amplified sales of automobiles in the region can be attributed to issues such as increasing per capita income, bigger infrastructure spending, initiatives to grow the amount of economic production cost and FDI. 

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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