Automotive Tire Market
Automotive Tire Market [Rim Size: 12’’-17’’, 18’’-21’’, and ?22’’; Aspect Ratio: 35-55, 60-70, and 75-85; Material: Natural Rubber and Synthetic Rubber; Ply: Radial and Bias; Tube: Tubed Tire and Tubeless Tire; Season: All Season Tire and Winter Tire; Vehicle Type: Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle; Sales Channel: OEM and Aftermarket] - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
Tire Market for Automotive: Introduction
- Automotive tires are pneumatic structures mounted on the vehicle’s rims to transfer the vehicle drive to the ground. A tire is made of natural rubber, synthetic rubber, wire, and fabric.
Key Drivers and Restraints of Global Tire Market for Automotive
- Increase in demand for vehicles is expected to boost the tire market for automotive. Several automakers are offering numerous models in order to diversify their product portfolio. The vehicle models are offered with a variety of rim size options. Rise in demand for individualization by customers and diversification of tire sizes as per models are expected to boost the tire market for automotive.
- In 2017, SUV sales contributed to 34% of total vehicle sales in China. Demand for high clearance and vehicle with sporty appearance has led to the evolution of the tire market toward higher rim sizes. Rise in global demand for SUVs is expected to boost the tire market for automotive. Increase in penetration of premium and luxury vehicles is fueling the demand for low profile or low aspect ratio tires.
- Rapidly expanding economies of China, India, Mexico, and Brazil are boosting luxury vehicle sales, which in turn is fueling the demand for low profile or low aspect ratio tires
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Global Tire Market for Automotive: Segmentation
- The global tire market for automotive has been segmented based on rim size, aspect ratio, material, ply, tube, season, vehicle, sales channel, and region
- Based on rim size, the 18’’-21’’ rim size segment is anticipated to expand during the forecast period. In 2017, SUVs and crossovers accounted for 42% of vehicle sales in the U.S., and 26% of vehicle sales in Europe. Shift in passenger vehicle demand from sedans to SUVs is expected to propel the demand for 18’’-21’’ rim size tires.
- In terms of season, the winter tire segment is expected to expand significantly during the period. Some countries in Europe such as Iceland, Russia, Latvia, and Norway have enacted regulations that make it mandatory to fit winter tires during winter. Countries in Europe that experience mild winters and in some provinces of Canada, winter tires are mandatory when the weather permits. Therefore, Europe and North America are highly lucrative markets for winter tires and the market in these regions is estimated to expand at a steady pace during the forecast period.
Global Tire Market for Automotive: Regional Segmentation
- Based on region, the global tire market for automotive can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific region led the global tire market for automotive in 2018. It is anticipated to hold a dominant share of the global market during the forecast period. Expansion of automotive industry in China, India and South Korea has been instrumental in boosting the share held by Asia Pacific in the global market.
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- In 2018, Bridgestone Corporation developed a polymer using advanced synthetic technology. The new developed material, called high strength rubber (HSR), boosts durability and abrasion resistance; consequently, desired level of performance can be achieved while thus by utilizing HSR as tire material.
Key Players Operating in Global Tire Market for Automotive:
- Bridgestone Corporation
- Continental AG
- The Goodyear Tire & Rubber Company
- Pirelli & C.S.p.A.
- Michelin AG
- CEAT Ltd.
- Cooper Tire & Rubber Co., Ltd.
- Sumitomo Rubber Industries, Ltd.
- Toyo Tire & Rubber Co., Ltd.
Global Tire Market for Automotive: Research Scope
Global Tire Market for Automotive, by Rim Size
Global Tire Market for Automotive, by Aspect Ratio
Global Tire Market for Automotive, by Material
- Natural Rubber
- Synthetic Rubber
Global Tire Market for Automotive, by Ply
Global Tire Market for Automotive, by Tube
- Tubed Tire
- Tubeless Tire
Global Tire Market for Automotive, by Season
- Winter Tire
- All Season Tire
Global Tire Market for Automotive, by Vehicle Type
- Passenger Vehicle
- Light Commercial Vehicle
- Heavy Commercial Vehicle
Global Tire Market for Automotive, by Sales Channel
Global Tire Market for Automotive, by Region
- North America
- Middle East & Africa
- Latin America
Tire Market for Automotive – Scope of the Report
Transparency Market Research’s recent report on the tire market for automotive, with the help of a comprehensive outlook, provides readers with an assessment of the global market landscape. This study on the tire market for automotive analyzes the scenario for the period of 2019 to 2027, wherein, 2018 is the base year and 2018 and before is historical data. This report enables readers to make important decisions with regard to their business, with the help of a wealth of information enclosed in the study.
This TMR study on the tire market for automotive also provides data on the developments made by important players and stakeholders in the market, along with a competitive analysis. The report also provides an understanding of the strengths, weaknesses, threats, and opportunities, along with the trends and restraints in the landscape. Presented in a clear sanctioned manner, this report on the tire market for automotive gives readers an individual understanding of the market.
This study also discusses the underlying trends and impact of various factors that are driving the tire market for automotive, along with their influence on the evolution of the market.
This study also offers Porter’s Five Point Analysis, value chain analysis, regulatory scenario, and a SWOT analysis of the tire market for automotive, in order to elaborate the crucial growth tactics and opportunities for market players contributing to the market.
Key Questions Answered in this Report on the tire market for automotive
- How much value will the tire market for automotive generate by the end of the forecast period?
- Which segment of the market is likely to have the maximum market share by 2027?
- What are the impact factors and there effects on the market of automotive tires?
- What regions currently contribute the maximum share to the overall tire market for automotive?
- What are the indicators expected to drive the tire market for automotive?
- What region is likely to be a lucrative market during the forecast period?
- What are the essential strategies by key stakeholders in the tire market for automotive to expand their geographic presence?
- What are the major advancements witnessed in the tire market for automotive?
- How regulatory norms affected the market for tire market for automotive?
This report answers these questions and more about the tire market for automotive, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Tire Market for Automotive: Research Methodology
This TMR report on the tire market for automotive is based on a complete and comprehensive evaluation of the market, backed by secondary and primary sources. Market volume is determined by country wise model mapping of vehicle through internal & external proprietary databases, and relevant patent and regulatory databases. The competitive scenario of the tire market for automotive is supported by an assessment of the different factors that influence the market on a minute and granular level. By thoroughly analyzing the historical data, current trends and announcement by the key players, researchers of the tire market for automotive arrive at predictions and estimations, and calculate the forecast for the market.
This report uses an analytical triangulation method to estimate the numbers and figures of the tire market for automotive, with both a bottom-up and top-down approach.
This detailed assessment of the tire market for automotive, along with an overview of the landscape, is provided based on a careful examination of the avenues related to this industry. Analysts’ conclusions on how the tire market for automotive is estimated to expand are based on carefully vetted primary and secondary sources.
Tire Market for Automotive: Segmentation
This report on the tire market for automotive provides information on the basis of rim size, aspect ratio, material, ply, tube, vehicle type, season, sales channel, and region
All Season Tire
Light Commercial Vehicle
Heavy Commercial Vehicle
Middle East & Africa