Tires Market Report Scope and Research Methodology :
To compile this report, extensive research methodologies were employed, including data analysis, primary research, and a thorough examination of market dynamics, industry trends, and competitive analysis.
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Tires Market Dynamics:
Increase in Vehicle Production & Sales: The global tire market is being driven by the steady increase in vehicle production and sales worldwide. This includes commercial vehicles like trucks, tractors, and trailers, as well as the growing demand for lightweight and luxury vehicles.
Growing Production and Sales of Electric Vehicles: The rising popularity of electric vehicles, driven by environmental concerns and stricter emissions regulations, is further fueling the tire market's growth. China, in particular, plays a significant role in this trend.
COVID-19 Impact on the Global Tires Market: The COVID-19 pandemic has had a notable impact on tire sales, with disruptions in manufacturing and supply chains leading to decreased exports. Raw material costs have also been affected by the pandemic, posing challenges to the market.
Tires Market Regional Insights:
United States: The U.S. tire market holds a 28% share of the global market and is projected to grow at a rate of 5.4% during the forecast period.
Europe: The European market is expected to reach 593 billion units by the end of the forecast period, with Germany growing at a CAGR of 3.4%. Japan and Canada are also anticipated to see growth.
Asia-Pacific: The Asia-Pacific region is expected to grow at a CAGR of 5.3% during the forecast period. In 2022, this region accounted for 48% of the global market, with China, India, and Japan being significant players. Despite the impact of COVID-19 on sales in 2020, the Asian tire market is expected to grow by 3.6% during the forecast period.
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Tires Market Segmentation:
by Type
Radial Tires
Bias Tires
Non-Pneumatic Tires
by Vehicle Type
Passenger Cars
Commercial Cars
Off-Road Cars
by Distribution Channel
OEM
Aftermarket
Tires Market Key Players:
North America
Cooper Tire & Rubber Company (U.S)
Goodyear Tire & Rubber Company (U.S)
Europe
Avon Tyres (U.K)
Continental AG (Germany)
MITAS A.S. (Czech Republic)
Michelin (France)
Groupe Michelin (France)
Nokian Tyres Oyj (Finland)
Pirelli & C. S.p.A (Italy)
Asia Pacific
Apollo Tyres Ltd (India)
MRF (India)
CEAT (India)
JK Tyre & Industries Ltd (India)
Madras Rubber Factory Ltd.(India)
Bridgestone Corporation (Japan)
Toyo Tire & Rubber Co., Ltd.(Japan)
Sumitomo Corporation(Japan)
Yokohama Tire Corporation (Japan)
Giti Tire Pte. Ltd (Singapore)
Cheng Shin Rubber Ind. Co. Ltd (Taiwan)
Maxxis International (Taiwan)
Hankook Tire Co., Ltd (South Korea)
Kumho Tire Co., Inc (South Korea)
Nexen Tire Corporation(South Korea)
Zhongce Rubber Group Co., Ltd.(China)
Sailun Group Co. Ltd.(China)
Shandong Linglong Tire Co., Ltd (China)
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Table of content for the Tires Market includes:
- Global Tires Market: Research Methodology
- Global Tires Market: Executive Summary
- Market Overview and Definitions
- Introduction to the Global Market
- Summary
- Key Findings
- Recommendations for Investors
- Recommendations for Market Leaders
- Recommendations for New Market Entry
- Global Tires Market: Competitive Analysis
- MMR Competition Matrix
- Market Structure by region
- Competitive Benchmarking of Key Players
- Consolidation in the Market
- M&A by region
- Key Developments by Companies
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- Market Dynamics
- PORTERS Five Forces Analysis
- PESTLE
- Regulatory Landscape by region
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- COVID-19 Impact
- Company Profile: Key players
- Company Overview
- Financial Overview
- Global Presence
- Capacity Portfolio
- Business Strategy
- Recent Developments
Key Offerings:
- Past Market Size and Competitive Landscape
- Past Pricing and price curve by region
- Market Size, Share, Size and Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by growth and trend
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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