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The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Tires Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Tires market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.
The tires replacement market is projected to grow at a CAGR of 1.8% to reach a market size of USD 113.1 billion by 2025 from 101.7 billion in 2019. The key factors driving the replacement tire market are increased average life of vehicles, growing miles driven per year, increasing concern towards maintenance and safety, technological advancements leading to longer life of tires and other factors.
The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Tires market are included as given below:
Some of the key players in the automotive tire market is dominated by global players and comprises several regional players. The key players in the automotive tire market are Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan). Bridgestone Corporation adopted the strategies of expansion and partnership to retain its leading position in the automotive tire market, whereas The Goodyear Tire & Rubber Company adopted a joint venture as a key strategy to sustain its market position.
The global Tires market has been segmented as below:
Automotive Tire Aftermarket, By Section Width
<200MM
200-230MM
>230MM
Automotive Tire Retreading Market, By Vehicle Type
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
Automotive Tire Aftermarket, By Vehicle Type
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
Automotive Tire Aftermarket, By Aspect Ratio
<60
60-70
>70
Automotive Tire OE Market, By Vehicle Type and Rim Size
Passenger Car
Light Commercial Vehicle
Bus
Truck
Automotive Tire OE Market, By Type
Radial
Tube
Tubeless
Bias
Automotive Tire Aftermarket, By Rim Size
13"-15"
16"-18"
19"-21"
>21"
Automotive Tire Aftermarket, By Season
Summer
Winter
Studded
Non-studded
All Seasons
Automotive Tire OE Market, By Region
Asia Pacific
Europe
North America
South America
Middle East and Africa
Automotive Tire Retreading and Aftermarket, By Region
>Asia Pacific
Europe
North America
RoW
Reasons to Purchase this Report:
Estimates Tires development trends with SWOT analysis
Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market's expansion
Market dynamics scenario, along with growth opportunities for players in the years to come
Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
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