Global Tires Market Trends, Strategy, Application Analysis, Demand, Status and Global Share

Global Tires Market is anticipated to reach US$ 169.06 Bn by 2029 from US$ 121.64 Bn in 2021 at a CAGR of 4.2% during a forecast period.

Tires Market Overview:

The major goal of the Tires Market Report is to examine the most recent market research on the Tires market, analyse the current and future market scenario, and provide insights and updates on the important sectors (2021-2029). The study completely examines analysed insights in light of the market, as well as its ever-changing trends, industry environment, and all of the market's leading elements. This research approach was used to investigate the global Tires market, and the results were logically presented in this report.

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Market Scope:

Global Tires Market 2021 research report 2029 includes crucial statistics and analytical insights to provide a comprehensive understanding of the market size, share, growth, trend, demand, top player and industry profile, opportunities, value cycle, end-users, technology, types, and application. The research will also include accessible opportunities in micro markets for stakeholders to invest, as well as a full analysis of the competitive landscape and significant competitors' product offers.

The qualitative and quantitative data in the Tires market report can assist decision-makers in determining which market segments, regions, and variables driving the market are likely to develop at higher rates, as well as major opportunity areas. The research also highlights the competitive landscape of leading industry players as well as upcoming market trends. Report includes a PESTEL Analysis, which aids in the development of company strategies. Political variables can help you figure out how much a government can influence the Tires market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Tires market. Marketing analytics and tactics are aided by social elements.

Tires Market Segmentation

The Passenger Cars Tires category led the market by Vehicle Type, accounting for US$ Bn in 2021 and projected to expand at a CAGR of 4.3%. The market for passenger automobiles is dominated by the United States, which will account for 27% of global sales in 2020. Global demand for innovative features, an improvement in living standards, and an increase in per capita income are some of the reasons driving the growth of the passenger car tyre market. Also, during the projection period, the market for passenger automobiles is predicted to rise due to consumers' growing demand in safe, high-end, luxurious, and comfortable vehicles.

With a market share of over 70%, the OEM segment led the market in terms of distribution channel, and it is anticipated that this dominance will last through 2025. The growth of the automobile industry's output and expanding vehicle production both support the rise of the OEM market. Tire producers have been forced to concentrate on tyre efficiency and performance due to growing consumer awareness of road safety and a rise in the frequency of traffic accidents. Moreover, the aftermarket sector would hold 12% of the market in 2021. Throughout the projected period, the increasing average vehicle life and demand for tyre replacement are anticipated to fuel the segment's expansion.

Tires Market Key Players

• Apollo Tyres Ltd
• Avon Tyres
• Bridgestone Corporation
• CEAT
• Cheng Shin Rubber Ind. Co. Ltd
• Continental AG
• Cooper Tire & Rubber Company
• Giti Tire Pte. Ltd
• Goodyear Tire & Rubber Company
• Hankook Tire Co., Ltd
• JK Tyre & Industries Ltd
• Kumho Tire Co., Inc
• Maxxis International
• Michelin
• MITAS A.S.
• MRF
• Nexen Tire Corporation
• Nokian Tyres Oyj
• Pirelli & C. S.p.A
• Shandong Linglong Tire Co., Ltd

The competitive landscape is a critical aspect every key player needs to be familiar with. The report throws light on the competitive scenario of the global Tires market to know the competition at both the domestic and global levels. The key aspects such as areas of operation, production, and product portfolio. Additionally, companies in the report are studied based on key factors such as company size, market share, market growth, revenue, production volume, and profits. In additional Tires Market Share analysis of players, in-depth profiling, product/service and business overview, the study also concentrates on BCG matrix, heat map analysis, Competitive Benchmarking along with SWOT analysis to better correlate market competitiveness.

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Regional Analysis:

Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Tires 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. Regional markets are thoroughly investigated in order to uncover regional market trends, restrictions, and possible prospects.

Key Questions answered in the Tires Market Report are:

• Which product segment grabbed the largest share in the Tires market?
• How is the competitive scenario of the Tires market?
• Which are the key factors aiding the Tires market growth?
• Which region holds the maximum share in the Tires market?
• What will be the CAGR of the Tires market during the forecast period?
• Which application segment emerged as the leading segment in the Tires market?
• Which are the prominent players in the Tires market?
• What key trends are likely to emerge in the Tires market in the coming years?
• What will be the Tires market size by 2027?
• Which company held the largest share in the Tires market?

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