Automotive Tire Market is projected to expand at a CAGR over xx% between the forecasted period (2018-2026), Automotive Tire Market is expected to reach US$ xx Bn by 2026 from US$ xx Bn in 2017. Expected to observe a considerable growth owing to the increasing automobile production in the Asia Pacific region. Furthermore, strict environmental regulations due to the rising vehicular pollution are anticipated to boost the product growth in coming years. Increase in sales of automotive vehicles, rise in competition among tire manufacturers, enhancement of manufacturing processes, and increase in operating life of automobiles fuel the automotive tire market. However, the growing Automotive Tire Market of re-treading tires and fluctuation in the cost of raw materials could restrict the growth of this market. Moreover, the rise in sales of automobiles across the globe is expected to unfold various opportunities for the key players. Based on the type, the Automotive Tire Market is further divided into a radial tire and a bias tire. Radial tire segment generated the maximum revenue in 2017 and is expected to grow at a faster rate. However, the bias tire segment is anticipated to reach above CAGR of xx% during the analysis period. In terms of vehicle type, the automotive tire market includes two-wheelers, passenger vehicle, and commercial vehicles. Passenger vehicle segment is the fastest growing segment for Automotive Tire Market, globally and is projected to garner a CAGR of xx% during the forecast period. However, the two-wheeler segment is estimated to garner the highest CAGR of xx%. Asia-Pacific accounted for the largest revenue share in 2017, occupying an Automotive Tire Market share of around xx% and is expected to grow at a CAGR of xx%. Asia-Pacific is estimated to dominate the Automotive Tire Market for OE and replacement. The growth in Asia-Pacific can be credited to an increase in vehicle production in countries such as China, India, Japan, and South Korea. These Asian countries contributed xx% of the global vehicle production in 2017. The increase in sales of the vehicles is owing to various factors such as increasing per capita income, increased infrastructure spending, attractive FDI from governments, economic production cost, lenient environment regulations and so on. Additionally, the number of vehicles on road is increasing owing to the improving road infrastructure, rising consumer awareness regarding vehicle maintenance and stringent fuel economy norms. This positively effects the replacement Automotive Tire Market for tires. The major players profiled in Automotive Tire Market report include Bridgestone Corporation, Continental AG, Pirelli & C. S.p.A, Michelin, The Goodyear Tire & Rubber Co., Sumitomo Rubber Industries, Ltd., Madras Rubber Factory Limited, The Yokohama Rubber Co. Ltd., JK Tyre & Industries Ltd., and CEAT Ltd.
Scope of the Report:
Automotive Tire Market, By Type
• Radial Tire • Bias Tire
Automotive Tire Market, By Vehicle Type
• Passenger Cars • Light Commercial Vehicles • Heavy Commercial Vehicles • Two Wheeler
Automotive Tire Market, By Region
• North-America • Europe • Asia Pacific • Latin America • Middle East & Africa
Key Players of the Automotive Tire Market:
• Bridgestone Corporation • Continental AG • Pirelli & C. S.p.A. • Michelin • The Goodyear Tyre & Rubber Co. • Sumitomo Rubber Industries Ltd. • Madras Rubber Factory Limited The Yokohama Rubber Co. Ltd. • JK Tyre & Industries Ltd. • CEAT Ltd. • Yokohama Tire Corporation • Toyo Tire & Rubber Co. Ltd. • CEAT Ltd. • MRF Limited • Kumho Tire Co., Inc. • Apollo Tires Ltd • Goodyear Tire & Rubber • Continental Corporation • Yokohama Tire Corporation • Cooper Tire & Rubber Company About Maximize Market Research Maximize market research, a global market research firm with the dedicated team of specialists and data has carried out extensive research about the current Automotive Tire Market. The report encompasses the Automotive Tire Market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for taking an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the Automotive Tire Market, further giving an insight into the market dynamics, and future opportunities that might exist in the Automotive Tire Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Automotive Tire Market positioning of competitors.