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Automotive Tire Market Challenges, Opportunities, Trends And Top Key Players till 2024

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Manisha S

February 17, 2021: Global Automotive Tire Market is anticipated to reach USD 374.22 billion by 2024. Automotive tire is a rubber ring placed on rim of the wheel. Automotive tire mainly offers grip to vehicles on the road, and decreases road shocks. The factors that propel the growth of the Automotive Tire Market include growing demand for low rolling resistance tires, demand for high performance and low-profile tires, better fuel economy, technical developments such as eco-friendly tires, smart tires, and others. Automotive Tire Market is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.

 

Automotive Tire Market may be explored by type, application, and geography. Automotive Tire Market may be analyzed by type as Bias, and Radial. The “Radial tire” segment led the Automotive Tire Market in 2015 and is anticipated to maintain its dominance by 2024. The key application that could be explored in the Automotive Tire Market include LCV, Passenger cars, Two wheelers, and HCV.

 

Request a Free Sample Copy of this Report @ https://www.millioninsights.com/industry-reports/automotive-tire-market/request-sample

 

Asia-Pacific accounted for the major share of the Automotive Tire Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include developing economy of most of the nations in this region. Asia-Pacific is followed by Europe and North America.

 

Some of the key players that fuel the growth of the Automotive Tire Market comprise Continental AG, Bridgestone Corporation, Michelin, Pirelli & C. S.p.A, Sumitomo Rubber Industries, Ltd., Madras Rubber Factory Limited, The Goodyear Tire & Rubber Co., JK Tyre & Industries Ltd., CEAT Ltd, and The Yokohama Rubber Co. Ltd. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

 

Browse Full Research Report @ millioninsights.com/industry-reports/automotive-tire-market

 

Market Segment:

 

Automotive Tire Application Outlook (Revenue, USD Billion, 2014 - 2024)

  • Passenger cars

  • LCV

  • HCV

  • Two wheelers

 

Automotive Tire Type Outlook (Revenue, USD Billion, 2014 - 2024)

  • Radial

  • Bias

 

Automotive Tire Regional Outlook (USD Billion, 2014 - 2024)

  • North America

  • Europe

  • Asia Pacific

  • RoW

 

Get in touch

At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions.

 

Contact Person: 

Ryan Manuel

Research Support Specialist, USA

Email: [email protected]

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