Tire (Tyre) Market 

Tire (Tyre) Market Analysis, Size, Current Scenario and Future Prospects, Market Analysis, Size, Current Scenario and Future Prospects

Tire (Tyre) Market Research

A recent research report published by MarkNtel Advisors reveals that the Tire (Tyre) Market is projected to register 3.85% CAGR during 2023-28.  The report encompasses a comprehensive analysis of the industry, entailing latest trends, developments, drivers, restraints, challenges, & opportunities, along with its projected growth trajectory through all segments & geographies in the future.

In the analysis, stakeholders can find insights into the major aspects that are primarily contributing to the swift market expansion, wherin the information is presented in the form of diagrams, pie charts, tables, graphs, & other pictorial representations. Using these representations, the investors can understand the changing dynamics of the Tire (Tyre) Market and plan & lay out strategies to expand their visibility, product portfolio, & customer base and generate massive revenue in the industry.

The historical period considered in the study is 2018-21, the base year 2022, and the forecast period, as cited above, is 2023-28.

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Key Reasons to Buy this Analysis

-This report is a thorough compilation of factors responsible for driving the Tire (Tyre) Market dynamics, projecting its prominent drivers, growth restraints, opportunities, challenges, and emerging and high-potential segments & geographies, among others.

-The study also presents a detailed review of the leading companies operating in the Tire (Tyre) Market, where analysts have closely profiled leaders and put together data comprising their profiles, recent developments, prominent business strategies, initiatives, and mergers & acquisitions, among other parameters.

-Stakeholders or investors can get a hold of a detail-driven, accurate, and reliable information associated with the latest trends in the industry and strategically plan their investments in the future. 

-Nonetheless, with the availability of estimation of funds put in by private firms & governments for the swift expansion of this industry along with insights into market expansion across each segment & geographic location, is also covered in this report.

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.

Tire (Tyre) Market Segmentation:

The segmentation analysis in the report enlighten s stakeholders with information upon light the overall performance of the Tire (Tyre) Market across different segments & geographies, using which they can strategize their investments to expand the brand visibility, product portfolio, & customer base and yield significant profits in the coming years.

Market Divided into, 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)

Market Divided into, By Demand Type

-OEM

-Replacement

Market Divided into, By Tire Type

-Radial

-Bias

Market Divided into, By Season Type

-Summer Tires

-Winter Tires

-All Season Tires

Market Divided into, By Sales Channel

-Direct Sales

-Dealers & Distributors

-Online Platform

Market Divided into, 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”

Market Divided into, By Price Category

-Budget

-Economy

-Premium

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The Tire (Tyre) Market is highly fragmented, and geographically, it expands across:

-North America

-South America

-Europe

-The Middle East & Africa

-Asia-Pacific

Competitive Landscape of the Tire (Tyre) Market

This most prominent section of the report entails detailed insights into company profiles, investments & revenue generated, strategic initiatives, geographical presence, and production or service capacities, among other aspects. Every information stated here is a result of a thorough examination of key players & their hold in the industry to enable investors to make informed decisions in the future.

-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

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Note: MarkNtel Advisors also provides customized reports with unique insights into the industry. Our dedicated analysts & domain-specific specialists seek to add value while customizing the reports tailored to the specific requirements of our clients so that they can make informed decisions before investing in the market.

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