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 Overview The rise in disposable income and the standard of living of consumers is leading to the increase in sales of cars which directly leads to the growth of the Automotive Tire Industry. The introduction of advanced technology in the tire manufacturing is also contributing in the growth of the market. The increase in the operating life of automobiles raises the need of changing the tire during the life of the vehicle. This leads to the increase in sales of the tire manufacturers thereby, driving the growth of the industry. The existence of large number of players in the market and the low differentiation in the process of tire manufacturing creates intense competition among the existing players. This leads the Automotive Tire Industry to be nearly stable in terms of pricing by the suppliers. The market is projected to expand its worth to USD 262.72 billion while expanding with a CAGR of 4.48 percent approximately in the duration of the forecast period from 2017 to 2023. Get Sample Copy @ https://www.marketresearchfuture.com/sample_request/2253 Competitive Analysis The development of the market vendors is dependent on the government support, market conditions, and industry development. The players are focusing on reinforcing their presence globally through partnership & collaboration followed by mergers and acquisitions through the forecast period. These strategies are extensively implemented to grow their presence and the customer base. The competitive atmosphere in the market is expected to strengthen further owing to business expansions and new product developments. The foremost contenders functioning in this market, who have adopted these strategies are Michelin Group (France), Bridgestone Corporation(Japan), Continental AG (Germany), Hankook Tire Co., Ltd. (South Korea), 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 & 200230mm. 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. Detailed 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. The North American region is attributed for the next major market portion in 2017, which is anticipated to develop at a CAGR of 4.46 percent during the forecast period. In the North America region, automobile manufacturers will observe a surge in the sales of the passenger cars and commercial vehicles. The upsurge in demand for the new vehicles will allow the growth of the auto tire suppliers significantly. The steady growth in the region will bring more investments from many top giants owing to stringent government regulation, amplified sales of vehicles, and demand for fuel efficient products. The U.S. is responsible for the prime market share of 70.55 percent in 2017, with a market worth of USD 44.87 billion and is estimated to develop at the highest CAGR of 4.60 percent through the forecast period. Access Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/automotive-tire-market-2253 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. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members. Contact Market Research Future +1 646 845 9312 Email:
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