U.S (New York) – We are thrilled to announce the latest release of our comprehensive market research report titled “Automotive Tire Market” by Report Ocean, a prominent industry insights provider. This report provides a wealth of valuable insights and analysis on the current trends, growth prospects, competitive landscape, and strategic recommendations within the [specific industry/market]. It serves as an indispensable resource for gaining in-depth knowledge of the industry and making well-informed decisions.
A rubber tire is a component fitted around the rim of a wheel to transfer the load of a vehicle from the axle to the ground. Majority of the tires are pneumatically inflated that offer a flexible cushion with shock absorption when the tire travels over a rough surface. The automotive tire market is segmented on the basis of season type, vehicle type, rim size, distribution channel, and region. Moreover, it is consists of tread, jointless cap piles, beads, and other materials, which include synthetic rubber, carbon black, and fabric. There is an increase in the demand for tires due to the rise in the demand for vehicle production to cater to the surge in requirement of vehicles across all segments. Thus, the tire demand is ultimately governed by automobile production.
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A release on June 8th, 2022, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2022.In April 2022, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2022, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID-19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2022 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on industries. resulting in a large market for Automotive Tire Market.
At present, Asia-Pacific dominates the market, followed by Europe, North America, and LAMEA. China dominated the global tire system market in 2019, whereas India is expected to grow at a significant rate in Asia-Pacific during the forecast period.
The automotive tire market is segmented into season type, vehicle type, rim size, distribution channel, and region. By season type, it is divided into summer, winter and all season tires. By vehicle type, it is divided into passenger car, commercial vehicle, and electric vehicle. The commercial vehicles segment is further divided into light & heavy commercial vehicles. By rim size, the market is categorized into less than 15 inch, 15 to 20 inch, and more than 20 inch. By distribution channel, it is bifurcated into OEM and aftermarket. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Comprehensive competitive analysis and profiles of major market players such as Bridgestone Corporation, Continental corporation, MICHELIN, Pirelli Tyre C. S.p.A. (China National Chemical Corporation), The Goodyear Tire & Rubber Company, Toyo Tire Corporation, Sumitomo Rubber Industries Ltd, The Yokohama Rubber Co., Ltd, Hankook Tire & Technology Co., Ltd., and Nokian Tyres plc are also provided in this report.
KEY BENEFITS FOR STAKEHOLDERS
– This study presents the analytical depiction of the automotive tire market along with the current trends and future estimations to depict the imminent investment pockets.
– The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
– The report presents information related to key drivers, restraints, and opportunities with detailed impact analysis.
– The current market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the market.
– Porter’s five forces analysis illustrates the potency of the buyers and suppliers.
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KEY MARKET SEGMENTS
By Season Type
– Summer
– Winter
– All Season
By Vehicle Type
o Passenger Car
o Commercial Vehicle
– Light Commercial
– Heavy commercial
o Electric Vehicle
By Rim Size
o Less than 15
o 15 to 20
o More than 20
By Distribution Channel
o OEM
o Aftermarket
By Region
o North America
– U.S.
– Canada
– Mexico
o Europe
– UK
– Germany
– Russia
– France
– Rest of Europe
o Asia-Pacific
– China
– Japan
– India
– Australia
– Rest of Asia-Pacific
o LAMEA
– Latin America
– Middle East
– Africa
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Features of the Market Report:
- Comprehensive industry data presented in a user-friendly and easily comprehensible format.
- Detailed market segmentation, providing key insights into each sub-segment of the industry.
- Thorough analysis of profiles of major market players, including their strategies and approaches.
- Precise examination of regional and country-specific sales opportunities in the market.
- In-depth analysis of current and emerging market trends, offering valuable intelligence.
- Identification of industry drivers and restraints that can impact different segments and regions.
- Clear understanding of expansion strategies, new product launches, and potential acquisitions by companies.
- A well-structured report combining insightful literature with graphical representations of relevant market variables
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