Tire (tyre) Market: Report: Top Companies, Trends and Future Prospects Details for Business Development

 According to IMARC Group’s latest report, titled “Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global tire market exhibited moderate growth during 2015-2020. Tire is a ring-shaped, pneumatically inflated structure manufactured from synthetic or natural or synthetic rubber, fabric, carbon black, and wire. It encloses the rim of a wheel to form soft contact and assists in transferring the vehicle's load onto the road. A tire also works as a cushion for the wheels of a moving vehicle while providing a gripping surface for traction. It minimizes the impact of vibrations, absorbs shocks, and effectively withstands the tractive force between the surface of the road and the vehicle, thereby enhancing the vehicle's overall performance. 

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 The expanding automobile industry has led to the growing adoption of crossover utility vehicles (CUVs) and sport utility vehicles (SUVs), thereby driving the demand for high-quality tires. Additionally, the implementation of stringent safety regulations has significantly impacted the rising popularity of automobile tires with a high safety quotient. Besides this, several leading market players are engaging in the development of advanced products, such as flat-run and nitrogen-based tires, that are also eco-friendly. Moreover, the rising environmental concerns towards increasing vehicular pollution levels have led to the emergence of hybrid or electric vehicles. In line with this, various technological advancements have resulted in the launch of electricity-generating tires, which is anticipated to further bolster the global market for tires in the coming years. Looking forward, IMARC Group expects the market to grow at a CAGR of around 4% during 2021-2026.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

·         Michelin

·         Bridgestone

·         Continental

·         Goodyear

·         Sumitomo

·         Pirelli

·         Yokohama

·         Hankook

·         Toyo

·         Kumho

Market Segmentation:

Breakup by Design:

·      Radial

·      Bias

Breakup by End-Use:

·      OEM Market

·      Replacement Market

Breakup by Vehicle Type:

·      Passenger Cars

o   Market Breakup by Rim Size

o   Market Breakup by Tire Size

o   Price Ranges by Rim Size

·      Light Commercial Vehicles

o   Market Breakup by Rim Size

o   Market Breakup by Tire Size

o   Price Ranges by Rim Size

·      Medium and Heavy Commercial Vehicles

o   Market Breakup by Rim Size

o   Market Breakup by Tire Size

o   Price Ranges by Rim Size

·      Two Wheelers

o   Market Breakup by Rim Size

o   Market Breakup by Tire Size

o   Price Ranges by Rim Size

·      Three Wheelers

o   Market Breakup by Rim Size

o   Market Breakup by Tire Size

o   Price Ranges by Rim Size

·      Off-The-Road (OTR) 

o   Market Breakup by Rim Size

o   Market Breakup by Tire Size

o   Price Ranges by Rim Size

Breakup by Distribution Channel

·      Offline

·      Online

Breakup by Season

·      All Season Tires

·      Winter Tires

·      Summer Tires

Breakup by Region:

·      North America (United States, Canada)

·      Europe (Germany, France, United Kingdom, Italy, Spain, Others)

·      Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

·      Latin America (Brazil, Mexico, Others)

·      Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

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Key highlights of the report:                                                    

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Market Trends
• Market Drivers and Success Factors
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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