Comprehensive Research Report on Global Tire Market Trends 2023-2028
The Global Tire Market is expected to grow at a CAGR of 3.85% during the forecast period 2023-2028 and would reach USD318.57 billion by 2028. It covers areas such as sales, revenue, profit and loss, diverse segmentations, and geographical landscape, providing information on demand fluctuations and industry variables observed and anticipated. Additionally, the report offers valuable insights into ongoing trends, developments, revenue generation, business visibility strategies, and profit margins, along with educational sections aimed at assisting stakeholders in making informed future decisions.
“In case you missed it, we are currently revising our reports. Click on the "request sample report" button to get the most latest research data with forecast for years 2024 to 2029, including market size, industry trends, and competitive analysis. It wouldn't take long for the team to deliver the most recent version of the report.”
Market Drivers:
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.
Request Free Sample Report: https://www.marknteladvisors.com/query/request-sample/global-tire-market.html
Purpose of the Research Report:
The primary objective of this study is to assess and estimate the size of the Tire market from 2023 to 2028. Other objectives include:
- Classification and projection of the market based on defined segments, companies, and geographical distribution.
- Identification of factors influencing the market's trajectory and those impeding its expansion.
- Review of recent developments, including mergers, acquisitions, product launches, expansions, competitive events, etc.
- Comprehensive pricing analysis of the market.
- Examination of price trends in global Tire markets.
- Identification and analysis of profiles of key market participants.
- Understanding the most significant long-term strategies of market participants.
- In-depth analysis of company offerings, pertinent financial information, and player strategies.
- Determining the dominant area or segment in the Tire market.
Tire Industry Segmentation:
This section furnishes detailed insights into the major segments and regions covered in the report. Each component of the Tire market has undergone rigorous scrutiny, with growth data for every segment included in the analysis. The study outlines the largest, most influential, and fastest-growing segments, shedding light on their contributions to market share.
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)
By Demand Type
-OEM
-Replacement
By Tire Type
-Radial
-Bias
By Season Type
-Summer Tires
-Winter Tires
-All Season Tires
By Sales Channel
-Direct Sales
-Dealers & Distributors
-Online Platform
By Rim Size
-Upto 12”
-12.1” to 15”
-15.1” to 18”
-18” to 22.5”
-22.6” to 26”
-26.1” to 35”
-35.1” to 47”
-Above 47”
By Price Category
-Budget
-Economy
-Premium
Geographically Covered
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Read Full Report: https://www.marknteladvisors.com/research-library/global-tire-market.html
Leading Companies in the Tire Market:
- 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.)
Key Highlights of the Tire Market Research Report:
The meticulously researched report emphasizes manufacturing analytics, encompassing detailed cost analysis, cost structure, and process analysis. It provides fundamental information about market participants, the competitive landscape, and market concentration. Additionally, it offers a market overview, encompassing revenue and CAGR. This chapter also encompasses market forecasts and analysis by the aforementioned geographical location and segments.
Furthermore, it facilitates comprehensive market-wide forecasts, spanning location, sales, and earnings projections. The report also forecasts and tracks the latest market dynamics, including driving and inhibiting factors, as well as noteworthy business developments like mergers, acquisitions, and investments. Lastly, it offers precise insights into market dynamics and customer behavior analysis.
Customization Services:
MarkNtel Advisors extend customization services for stakeholders. To avail these services, visit the official website and receive personalized reports encompassing all the relevant aspects requested, delivered in a comprehensive, unbiased, accurate, and reliable manner, highlighting the fundamental factors driving future market potential.
Customization Available - https://www.marknteladvisors.com/query/request-customization/global-tire-market.html
About us –
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.
Contact Us –
Call: ? +1 628 895 8081 +91 120 4278433
Email: ? [email protected]
Visit to know more: ? https://www.marknteladvisors.com/
