Tire Market 2023-28: Size, Share, and Growth Projection with Top Companies Analysis

Global Tire Market Report: A Comprehensive Analysis and Prospective Outlook

According to the report by Markntel Advisors, the Global Tire market is anticipated to achieve an approx 3.85% CAGR from 2023 to 28. This research publication provides a comprehensive overview of the Tire Market, presenting a statistical data and a thorough examination of its current state and expected future developments.

This SWOT analysis serves as a strategic guide, helping the market leverage its strengths, address weaknesses, seize available opportunities, and prudently navigate potential threats to ensure sustained growth and success.

Global Tire Market Analysis Report Key Pointer:

1. Tire Market Size and Share
2. Top Listed Companies in Tire Market
3. Tire Industry Geographical Breakdown
4. Leading Segment of Tire Market
5. Tire Industry Ongoing Trends
6. Global Demand for Tire Industry
7. Future Scope and Opportunities

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Report Coverage	Details
Study Period	Historical Data: 2018-21
	Base Year: 2022
	Forecast Period: 2023-28
CAGR (2023-2028)	3.85%
Regions Covered	North America, South America, Europe, The Middle East & Africa, Asia-Pacific
Key Companies Profiled	Bridgestone, Michelin, Goodyear, Continental, Pirelli, Sumitomo, Hankook, Yokohama, Cheng Shin, Zhongce Rubber, GITI, Toyo, Kumho, Apollo, CEAT, MRF, Others
Unit Denominations	USD Million/Billion

 

Tire Industry Dynamic

Industry Key Driver:

Mounting Prevalence of Electric Vehicles - One of the most prominent factors projected to drive the Global Tire Market during 2023-28 is the rapidly surging Electric Vehicle (EV) production across developing countries. Growing awareness about the environment, coupled with increasing oil & gas prices worldwide, are shifting consumers toward buying EVs, which, in turn, would contribute significantly to the global tire market growth.

Electric cars require special tires for a variety of reasons. In comparison with ICE (Internal Combustion Engine) vehicles, tires used in EVs have to deal with more weight & provide better torque. Hence, with burgeoning EV sales across developed countries, the demand for their tires is also rising significantly, which, in turn, would drive the global tire market in the coming years.

Geographical Breakdown:

Geographical the global market divided into:

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Major Segments in the Global Tire Market:

Our team of analysts has employed diverse methodologies and computations to meticulously outline the market, leading to a comprehensive breakdown into distinct sections. Each segment has undergone further scrutiny, resulting in an in-depth exploration of various facets within the market. Through meticulous research, we have unearthed the standout performing segment within each section.

1. By Vehicle Type
   • Two Wheeler
   • Three Wheeler
   • Passenger Car
   • Commercial Vehicle
     • Light Commercial Vehicle (LCV)
     • Medium & Heavy Commercial Vehicle (MHCV)
   • Off-the-Road Vehicle (OTR)
2. By Demand Type
   • OEM
   • Replacement
3. By Tire Type
   • Radial
   • Bias
4. By Season Type
   • Summer Tires
   • Winter Tires
   • All Season Tires
5. By Sales Channel
   • Direct Sales
   • Dealers & Distributors
   • Online Platform
6. By Rim Size
   • Upto 12”
   • 1” to 15”
   • 1” to 18”
   • 18” to 22.5”
   • 6” to 26”
   • 1” to 35”
   • 1” to 47”
   • Above 47”
7. By Price Category
   • Budget
   • Economy
   • Premium

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Prominent Players in The Global Tire Market:

Competitive benchmarking in the Global Tire Market involves a comprehensive assessment of prominent firms, including

• Bridgestone Corporation
• Continental Ag
• Hankook & Company Co., Ltd.
• Michelin
• Nokian Tyres Plc
• Pirelli & C. S.P.A.
• Sumitomo Rubber Industries, Ltd.
• The Yokohama Rubber Co., Ltd.
• Toyo Tire Corporation
• MRF Limited
• CEAT Limited
• JK Tire & Industries Ltd.
• Apollo Tires Ltd
• Others (Zhongce Rubber Group Co., Ltd., Sailun Group Co., Ltd., etc.)

and others. This evaluation involves a detailed examination of each company's product value, capabilities, and notable characteristics. Furthermore, the study encompasses recent mergers and acquisitions, as well as product launches by these firms, with the goal of providing stakeholders with insights into the current market dynamics.

Note – If you require any specific details that are currently absent from the report, we would be delighted to furnish them through our customization services.

Key Questions Addressed in the Global Tire Market Report:

• What is the current share and size of the Tire market?
• What key factors shaping the growth of the Tire Industry?
• What are the top Tire companies in global?
• What are the growth opportunity in the Tire market?
• How has the Tire market growth rate changed over the past few years, and what is the projected growth rate for the next year 5 year?

Press Release:

1. https://www.technologydekho.com/global-healthcare-robotics-market-size-growth-share-estimate-2021-26-industry-driver-opportunities/
2. https://www.fillerworld.org/healthcare-robotics-market-trends-and-development-2021-26-global-share-segment-and-top-companies/
3. https://expertseoinfo.com/top-5-latest-update-on-healthcare-robotics-market-industry-share-demand-growth-rate-and-opportunities/
4. https://siit.co/guestposts/top-companies-in-healthcare-robotics-industry-2021-2026-current-share-growth-rate-and-plan-for-future/
5. https://yourtrc.com/2023/09/20/healthcare-robotics-market/
6. https://blogstudiio.com/global-healthcare-robotics-market-demand-on-rise-key-factor-major-segment-and-geographical-data/
7. https://anarchy411.com/is-healthcare-robotics-market-good-for-invest-current-share-growth-rate-and-main-competitor
8. https://shortletexpress.com/2023/09/20/healthcare-robotics-market-global-forecast-2021-26-cagr-of-around-16-5-by-2026-markntel/
9. https://makeindiapackers.com/incredible-growth-in-global-healthcare-robotics-market-2021-26-opportunities-and-future-scope/
10. https://yourtrc.com/2023/09/20/middle-east-africa-animal-feed-market/

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

We understand the mounting & diverse needs of our clients. Hence, our analysts focus on emerging industries to provide services that fulfill their assessment of the current & future industry potential, identify white spaces & hotspots, & venture into new geographies or business segments in the future.

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