Tire Market: Breakup by Design, 2022 & 2031
Source: Primary Research and Secondary Research Analysis
Tyres are being used in automobile industry for sales and production. Increasing production and sales of passenger vehicles and commercial vehicles and rising number of population involved in purchasing these automobiles is propelling the market growth of tire. In addition, presence of government organization in many developed and developing countries such as the International Organization of Motor Vehicle Association (OICA) is another fueling factor. With reference, to its production capacity, the organization estimated that in 2021, over 80 million new passenger and commercial cars representing a cumulative increase of more than 3.0% above the production in the preceding years.
Over 17 million motor vehicle were produced in the APAC region, followed by North America, South America, Europe, the Middle East and Africa. Two-wheelers are the major vehicles representing a largest sales in the Asia-Pacific region with China being the major contributor. Among all the vehicles, two-wheelers are considered the most prominent mode of transportation. Increase in the sale of passenger cars and commercial vehicles is further driving global tire market. Furthermore, the presence of regulations with respect to tire performance regulations, including fuel savings and wet grip-related braking distance reduction, for growing safety concerns is another key contributing factor for the market growth. Increased technological breakthroughs in the tire market, suppliers are manufacturing extremely effective tires that improve automobiles' overall fuel efficiency. Technology such as the self-inflating technology and low rolling resistance (LRR) technology are used by tire manufacturers to enhance safety and increase fuel efficiency.
Market Segmentation:
Market Breakup By Design
Radial
Bias
Market Breakup By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Medium and Heavy Commercial Vehicles
Two Wheelers
Three Wheelers
Off-The-Road (OTR)
Market Breakup By Distribution Channel
Offline
Online
Market Breakup By Season
All Season Tires
Winter Tires
Summer Tires
Regional Analysis
The report has been prepared after analyzing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political factors of the country. The team have closely analyzed the data of revenue, production, and manufacturers of each region. These analyses will help the reader to identify the key regions as potential worth of investment in the coming years.
Market Breakup By Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Competitive Landscape
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The reader can will get an updated information on their revenue of manufacturers, product portfolio, recent development and expansion plans during the forecast period
Major players operating in the vertical farming market are:
The Michelin Group
Bridgestone Corporation
Continental AG
The Goodyear Tire and Rubber Company
Sumitomo Corporation
Pirelli Tyre S.p.A
Yokohama Tire Corporation
Hankook Tire and Technology Co., Ltd.
Toyo Engineering Corporation
Kumho Tyre (Australia) Pty Ltd.
Others
Global Tire Market Research Report, 2020-2031.
Table of Contents
Global Tire Market Research Report, 2020-2031.
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