Automotive Tire Market Size in 2023 To 2029 | Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan).

The report offers a detailed measurement of the drivers, development, and prospects that have a direct impact on the Automotive Tire Market. The market study contains an in-depth analysis of the international Automotive Tire Market based on the key boundaries that take in the drives, sales inquiry, market limits & share. The report more highlights assessing the market size of four key regions, namely North America, Europe, Asia-Pacific, and Rest of World. The research study is considered to guide the readers with an intensive valuation of the current industry trends and breakdown. The report spans the global Automotive Tire market research data of different companies, benefits, gross margin, calculated decisions of the worldwide market, and more through tables, charts, and infographics. Other significant aspects studied in this report include demand and supply dynamics, import & export scenarios, R&D development activities, industry developments, and cost structures. In addition, consumption demand and supply figures, cost of production, and selling price of products are also estimated in this report.

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Global players dominate the automotive tire market and comprise several regional players. The key players in the automotive tire market are Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan).

This report will help new entrants or stakeholders to acknowledge the complete market dynamics. Automotive Tire market report examines the competitive scenario along with the future market landscape with the help of various restrictions such as Porter's five forces and parent/peer market. Consider the portfolios of the key market players working in the market united with the complete detailed study of the products and services they offer. This report will help readers understand the impact of government rules during the Covid-19 pandemic and estimate the market throughout the global pandemic. The Global Automotive Tire Market also spotlights the main players working in the sector. Their product portfolio, business policies, company profiles, and revenue share are also thoroughly described in the report. In the end, the study defines the strategies such as partnership, development, collaboration, joint projects, and others executed by the leaders to enhance their status in the sector.

"Increasing growing vehicle parc and average miles driven by vehicles would drive the tires aftermarket; whereas the retreading market is expected showcase the growth in coming years owing to its environment friendly and cost-effectiveness."

The tire aftermarket is projected to grow from USD 19.6 billion in 2023 to USD 21.6 billion by 2028 at a CAGR of 2.0%. The growth in automobile ownership per capita, a shift in customers' demand to use low rolling resistance tires, and increase in average miles driven by the vehicles will fuel the growth of the aftermarket tires. An increase in tire aftermarket demand is anticipated due to the growth in the market for passenger vehicles and the rise in the number of used automobiles on the road due to greater personal vehicle use. Increasing internet penetration and emerging technical advancements are other factors driving the tire aftermarket.

"North America to be the largest market for retreading."

North American market is driven by increased production of new cars coupled with the development of used cars. The higher fleet of light and heavy commercial vehicles have relatively higher average miles, requiring more tire replacement. The cost of aftermarket tires for an HCV is USD 230-250, whereas a retreaded tire of similar dimensions can cost almost 40% less.

Expanding retreading facilities in this area will also increase demand for retreaded tires during the forecast period. In addition, retread tires come with benefits such as improved tread life quality, cost savings, and fuel efficiency. Retreaded tires are more environmentally friendly than new tires since they use less energy and raw materials during production. Favorable government regulations and a rise in the use of retreaded tires are predicted to open up new growth prospects in this sector. However, a worn-out tire's casing is given a fresh rubber coat without modifying the infrastructure's cords. As a result, the quality of the retreaded tires always stays a lot down than that of the new tire.

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Reasons to buy this report:

The report will help the market leaders/new entrants with information on the closest approximations of the revenue numbers for the overall automotive tire market and their subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market pulse.

Research Coverage:

This Research Report Categorizes The Tire Market By Automotive Tire Aftermarket, By Section Width And Vehicle Type (< 200 Mm, 200-230 Mm, and >230 Mm), Automotive Tire Aftermarket, By Aspect Ratio And Vehicle Type (70), Automotive Tire Aftermarket, By Rim Size And Vehicle Type (13-15", 16-18", 19-21", and > 21"), Automotive Tire Retreading Market, By Vehicle Type (Passenger Cars, Light, and Heavy Commercial Vehicles), Automotive Tire Oe Market, By Vehicle Type And Rim Size (Passenger Cars, Light Commercial Vehicles, Buses, and Trucks), Automotive Tire Aftermarket Market, By Season (Summer, Winter And All Season), Automotive Tire Aftermarket, By Vehicle Type (Passenger Cars, Light, and Heavy Commercial Vehicles), by Automotive Tire OE Market, By Type (Radial And Bias), And By Region (Asia Pacific, Europe, North America, And Rest Of The World).

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