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Automotive Tire Market to Grow US$ 157.43 Billion by 2027

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The global Automotive Tire market size is expected to surpass around US$ 157.43 billion by 2027 and the market is expected to garner growth at a CAGR of 4.2% over the forecast period 2021 to 2027.

The Automotive Tire market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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Growth Factors

Increasing sale of passenger vehicles across the globe propel the market growth of automotive tire. In addition, ever-increasing global population along with rising disposable income of the public triggers the market growth. As per World Population Clock, the growth rate of global population is 1.05% per year. Besides this, the Organization for Economic Co-operation and Development (OECD) report 2018, Southeast Asia, China and India experienced firm growth in GDP in the last few years and expected to grow prominently in the coming years.

Market Report Scope

Report Highlights Details
Market Size USD 157.43 Billion by 2027
Growth Rate CAGR of 4.2% from 2021 to 2027
Largest Market Asia Pacific
Fastest Growing Market Europe
Base Year 2021
Forecast Period 2021 to 2027

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Market Overview

A recent study by Precedence Research on the Automotive Tire market offers a forecast for 2021 and 2027. The study analyzes crucial trends that are currently determining the growth of the Automotive Tire market. This report explicates on vital dynamics such as the drivers, restraints, and opportunities for key market players, along with key stakeholders as well as emerging players associated with the manufacturing of Automotive Tire. The study also provides the dynamics that are responsible for influencing the future status of the Automotive Tire market over the forecast period.

A detailed assessment of the Automotive Tire market value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the Automotive Tire market along with their product portfolio enhances the reliability of this comprehensive research study.

Report Highlights

  • The Asia Pacific held a promising market share in the global automotive tire market in 2019. Significant growth in population and low labor cost has made it most attractive site for the automotive tire manufacturers. Some of the manufacturers like Bridgestone Corporation, CEAT, and others invest prominently on their regional expansion to capture the untapped market opportunity.
  • Passenger vehicle segment dominated the global automotive tire market in 2019 with prominent revenue share of nearly 40%. Significant sales of passenger vehicles and continued advancements have flourished its growth in the past few years. In addition, introduction to electric vehicles along with integration of advanced drive assistance technologies in the passenger vehicles especially for semi-luxury and luxury vehicles expected to magnificently boost its demand over the coming years.
  • However, light commercial vehicles segment among other vehicle types experience the fastest growth during the forecast period. Flourished demand for e-commerce platform and online sales has triggered the logistics & transportation segment that in return propel the market growth for light commercial vehicles.

Regional Snapshots

The Asia Pacific and Europe are the most prominent regions in the global automotive tire market. The Asia Pacific held significant value share of nearly 40% in the year 2019 and promises an opportunistic growth over the forecast period. The growth of the region is mainly due to the significant investment by major market players for their regional as well as product expansion in the region. The region offers low labor cost and significant consumer base for the manufacturers to tap maximum revenue out here. In addition, China and India are the two most flourishing automotive market that experienced prominent growth rate in the last few years. For instance, in India the automotive tire replace sales growth rate was projected to be 7-8% in the coming years and mainly from the passenger vehicles segment.

Europe garnered a growth rate of nearly 6.5% during the forecast period. The prominent growth of the region is attributed to the increased sales of passenger vehicles in the region especially the advanced vehicles such as electric vehicles and battery-powered vehicles. Furthermore, the European government has imposed stringent norms for the use the gas emission that encourages pubic as well as automotive players to switch to reliable and environment-friendly vehicle; this triggers the growth for automotive tire in the region.

OBJECTIVES OF THE STUDY

  • To analyze and forecast the electric motor market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global electric motor market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micro markets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the electric motor market

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on electric motor market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers

Major key players operating in the market are

  • Continental AG
  • Bridgestone Corporation
  • Pirelli Tyre C. S.p.A. (China National Chemical Corporation)
  • MICHELIN
  • Toyo Tire Corporation
  • Hankook Tire & Technology Co., Ltd.
  • The Goodyear Tire & Rubber Company
  • The Yokohama Rubber Co., Ltd
  • Sumitomo Rubber Industries Ltd
  • Nokian Tyres plc

Segments Covered in the Report

By Season Tire Type

  • Winter
  • Summer
  • All Season

By Rim Size

  • Less than 15
  • Between 15 to 20
  • Greater than 20

By Vehicle Type

  • Commercial Vehicle
    • Light Commercial
    • Heavy Commercial
  • Passenger Car
  • Electric Vehicle

By Distribution Channel

  • Aftermarket
  • OEM

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Why should you invest in this report?

If you are aiming to enter the global Automotive Tire market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Automotive Tire are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027, so that you can plan your strategies to enter this market accordingly. Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.

TABLE OF CONTENT

Chapter 1. Introduction

1.1. Research Objective
1.2. Scope of the Study
1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope

4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis

Chapter 5. Market Dynamics Analysis and Trends

5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition

Chapter 6. Competitive Landscape

6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers

Chapter 7. Global Automotive Tire Market, By Season Tire

7.1. Automotive Tire Market, by Season Tire Type, 2020-2027
7.1.1. Winter
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Summer
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. All Season
7.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 8. Global Automotive Tire Market, By Rim Size

8.1. Automotive Tire Market, by Rim Size, 2020-2027
8.1.1. Less than 15
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Between 15 to 20
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Greater than 20
8.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 9. Global Automotive Tire Market, By Vehicle Type

9.1. Automotive Tire Market, by Vehicle Type, 2020-2027
9.1.1. Commercial Vehicle (Light Commercial, Heavy Commercial)
9.1.1.1. Market Revenue and Forecast (2016-2027)
9.1.2. Passenger Car
9.1.2.1. Market Revenue and Forecast (2016-2027)
9.1.3. Electric Vehicle
9.1.3.1. Market Revenue and Forecast (2016-2027)

Chapter 10. Global Automotive Tire Market, By Distribution Channel Type

10.1. Automotive Tire Market, by Distribution Channel Type, 2020-2027
10.1.1. Aftermarket
10.1.1.1. Market Revenue and Forecast (2016-2027)
10.1.2. OEM
10.1.2.1. Market Revenue and Forecast (2016-2027)

Chapter 11. Global Automotive Tire Market, Regional Estimates and Trend Forecast

11.1. North America
11.1.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.1.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.1.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.1.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.1.5. U.S.
11.1.5.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.1.5.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.1.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.1.5.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.1.6. Rest of North America
11.1.6.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.1.6.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.1.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.1.6.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.2.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.2.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.2.5. UK
11.2.5.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.2.5.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.2.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.5.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.2.6. Germany
11.2.6.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.2.6.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.2.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.6.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.2.7. France
11.2.7.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.2.7.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.2.7.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.7.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.2.8. Rest of Europe
11.2.8.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.2.8.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.2.8.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.2.8.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.3.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.3.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.3.5. India
11.3.5.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.3.5.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.3.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.5.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.3.6. China
11.3.6.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.3.6.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.3.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.6.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.3.7. Japan
11.3.7.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.3.7.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.3.7.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.7.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.3.8. Rest of APAC
11.3.8.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.3.8.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.3.8.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.3.8.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.4.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.4.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.4.5. GCC
11.4.5.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.4.5.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.4.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.5.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.4.6. North Africa
11.4.6.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.4.6.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.4.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.6.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.4.7. South Africa
11.4.7.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.4.7.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.4.7.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.7.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.4.8. Rest of MEA
11.4.8.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.4.8.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.4.8.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.4.8.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.5.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.5.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.5.5. Brazil
11.5.5.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.5.5.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.5.5.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.5.5.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)
11.5.6. Rest of LATAM
11.5.6.1. Market Revenue and Forecast, by Season Tire (2016-2027)
11.5.6.2. Market Revenue and Forecast, by Rim Size (2016-2027)
11.5.6.3. Market Revenue and Forecast, by Vehicle Type (2016-2027)
11.5.6.4. Market Revenue and Forecast, by Distribution Channel Type (2016-2027)

Chapter 12. Company Profiles

12.1. Continental AG
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Bridgestone Corporation
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Pirelli Tyre C. S.p.A. (China National Chemical Corporation)
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. MICHELIN
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Toyo Tire Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Hankook Tire & Technology Co., Ltd.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. The Goodyear Tire & Rubber Company
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. The Yokohama Rubber Co., Ltd
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Sumitomo Rubber Industries Ltd
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Nokian Tyres plc
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions

Chapter 14. Appendix

14.1. About Us
14.2. Glossary of Terms

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I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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