The most recent version of MarkNtel Advisors' research report on the Global Tire (Tyre) market includes an examination of numerous aspects that contribute to the market's growth, analysis, size, share, outlook and expected to grow at CAGR of 3.85% by 2028. It includes trends, limitations, and market drivers that have an impact on the market, either positively or negatively. The report provides scope for strategic planning and presents a complete assessment of constraints, restraints, and possibilities. The industry growth factors are crucial since they may be comprehended to create various tactics for seizing the lucrative prospects present in the constantly expanding industry. In order to better understand the market and make useful recommendations, the views of market experts have also been considered.
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How large is the Global Tire (Tyre) market?
Growth Rate: 3.85% CAGR
Year of Estimation Base: 2022
Historical Information: 2018-2021
Projection Period:2023-2028
Driving Factors for the Global Tire (Tyre) Market and an Analysis of Future Demand:
Key Driver: Mounting Prevalence of Electric Vehicles
One of the most prominent factors projected to drive the Global Tire Market during 2023-28 is the rapidly surging Electric Vehicle (EV) production across developing countries. Growing awareness about the environment, coupled with increasing oil & gas prices worldwide, are shifting consumers toward buying EVs, which, in turn, would contribute significantly to the global tire market growth.
Electric cars require special tires for a variety of reasons. In comparison with ICE (Internal Combustion Engine) vehicles, tires used in EVs have to deal with more weight & provide better torque. Hence, with burgeoning EV sales across developed countries, the demand for their tires is also rising significantly, which, in turn, would drive the global tire market in the coming years.
Note - You will find a thorough market analysis, growth analysis graphs, historical and forecast period analyses, key market segmentation, the top key players in the market, a table of contents, a list of figures, and a list of tables in this research reports.
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Discovering Potential: Unraveling Segments and Regional and Country projections in the Global Tire (Tyre) Market
The Global Tire (Tyre) Market can be divided into different Segments, along with different regions/country. The growth of each segment provides a precise estimation and sales forecast for the period from 2023 to 2028. This analysis is valuable for stakeholders aiming to expand their businesses by focusing on specific and qualified niche markets. The report includes market data at regional levels. Our team of research analysts comprehends the competitive advantages of each competitor and offers a separate competitive analysis for each.
What Exactly Does Global Tire (Tyre) Market Segmentation Include?
By Vehicle Type
-Two Wheeler
-Three Wheeler
-Passenger Car
-Commercial Vehicle
--Light Commercial Vehicle (LCV)
--Medium & Heavy Commercial Vehicle (MHCV)
-Off-the-Road Vehicle (OTR)
By Demand Type
-OEM
-Replacement
By Tire Type
-Radial
-Bias
By Season Type
-Summer Tires
-Winter Tires
-All Season Tires
By Sales Channel
-Direct Sales
-Dealers & Distributors
-Online Platform
By Rim Size
-Upto 12”
-12.1” to 15”
-15.1” to 18”
-18” to 22.5”
-22.6” to 26”
-26.1” to 35”
-35.1” to 47”
-Above 47”
By Price Category
-Budget
-Economy
-Premium
Geographical Analysis Trends, Future and Forecast (2023-2028) of Global Tire (Tyre) Market
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
Who Are the Leading Key Players in the Global Tire (Tyre) Market
The report has also examined the competitive landscape of the market, highlighting key players in the industry are-
-Bridgestone Corporation
-Continental Ag
-Hankook & Company Co., Ltd.
-Michelin
-Nokian Tyres Plc
-Pirelli & C. S.P.A.
-Sumitomo Rubber Industries, Ltd.
-The Yokohama Rubber Co., Ltd.
-Toyo Tire Corporation
-MRF Limited
-CEAT Limited
-JK Tire & Industries Ltd.
-Apollo Tires Ltd
-Others
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Important advantages for stakeholders
- In order to identify the potential in the present market, this study aims to provide a thorough analysis of the current market trends and future projections from 20023 to 2028.
- A thorough analysis of numerous locations that yields information that can help organisations plan their commercial actions tactically.
- A thorough study and projections of different regions to give stakeholders a thorough understanding of the present trends so they may create region-specific plans.
- Important regulatory processes for the market under study are carefully considered based on the region.
- A thorough study of the elements supporting and impeding the expansion of the Global Tire (Tyre) market is given.
Do not miss out the business opportunity of Global Tire (Tyre) Market. Consult our analysts to gather imperative insights, and facilitate your business growth.
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