The latest Automotive Tire OEM Market research report offers a thorough analysis of growth opportunities and development trends until 2030. Using qualitative and quantitative research, it explores market drivers and challenges, providing valuable insights for businesses to make informed decisions and identify growth areas.
Global Automotive Tire OEM Market is valued at approximately USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2023-2030.
Request To Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/bzwt2297
A tyre is made up of different components such as the sidewall, cord body, belts, liner, bead, and tread. Tires are classified as radial or biased based on their design. Radial tyres are predicted to dominate the automotive tyre OEM market due to increased use, which helps the vehicle consume less gasoline and delivers higher fuel efficiency. Since this tyre is heat resistant, wear-resistant, and cut-resistant, increased use of these tyres is projected to propel the market. The Automotive Tire OEM Market is expanding because of factors such as technological advancements in the tyre manufacturing process and increasing sales and production of passenger and light commercial vehicles.
According to Statista, the global automotive tyre market is expected to expand between 2019 and 2027. While the market was worth 112 billion US dollars in 2019, it is predicted to be valued at more than 154 billion US dollars by 2027. Global commercial vehicle manufacturing increased to approximately 23.2 million units in 2021, slightly recovering from the three-million-unit decline seen in 2020. The Passenger Cars industry is expected to generate $1,929.00 billion in revenue by 2023. SUVs are the market’s largest segment, with a forecast market volume of US$ 864.60 billion in 2023. In 2027, the market for passenger cars is estimated to reach 73,865vehicles. Moreover, the technological development and significant R&D investments by key players and rising demand for tire remoulding will create lucrative opportunities for the market. However, the raw material costs are unpredictable which stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Automotive Tire OEM Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increasing domestic demand, the availability of inexpensive labor, a huge population, and altering norms. Europe is expected to grow with the highest CAGR during the forecast period. The enhanced efforts made by various governments in the region to minimize carbon emissions have been a driving element in the region’s automotive tyre OEM market expansion. Russia, Denmark, Switzerland, Finland, and the Czech Republic are the region’s major countries.
Major market players included in this report are:
Bridgestone Corp.
Michelin SCA
Goodyear Tyre & Rubber co.
Continental AG
Sumitomo Rubber Industries, Ltd.
Pirelli & C. SpA
Zhongce Rubber Company
Cheng Shin Rubber Industry Co.
MRF LTD
Toyo Tire & Rubber Co., Ltd
Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/bzwt2297
Recent Developments in the Market:
In July 2021, Goodyear developed non-pneumatic tyres (NPT) in partnership with Local Motors and the Jacksonville Transportation Authority (JTA). The wheel assembly will help with urban autonomous vehicle transportation.
In July 2021, Pirelli launched its first high-load index tyre for hybrid and electric automobiles, as well as SUVs. The tyre is created and developed to provide more support for bigger cars and to deal with the added weight of integrated batteries.
Global Automotive Tire OEM Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Design, Tire Type, Vehicle Type, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Design offerings of key players.
Download Sample of This Strategic Report: -https://reportocean.us/sample-request/report_id/bzwt2297
The detailed segments and sub-segment of the market are explained below.
By Design:
Radial Tire
Bias Tire
By Tire Type:
Tube Tire
Tubeless Tire
By Vehicle Type:
Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
Request full Report Description, TOC, Table of Figure, Chart, etc. @ -https://reportocean.us/sample-request/report_id/bzwt2297
Some Questions Answered in the Automotive Tire OEM Market Report:
- What is the projected size of the global Automotive Tire OEM market in 2030, and what growth rate is expected?
- What are the primary drivers of growth in the global Automotive Tire OEM industry?
- What are the major market trends that are affecting the expansion of the Automotive Tire OEM market?
- What obstacles must be overcome in order to achieve sustained growth in the Automotive Tire OEM market?
- What opportunities and threats do vendors in the global Automotive Tire OEM market face?
- What are the raw materials and manufacturing equipment used in the production of Automotive Tire OEM, and what is the manufacturing process?
- What are the different types and applications of Automotive Tire OEM, and what is the market share of each type and application?
- What factors, such as trends, challenges, and risk factors, are currently shaping the growth of the Automotive Tire OEM market?
- What factors are driving the growth of the Automotive Tire OEM market in the top regions worldwide?
- Who are the major players in the global Automotive Tire OEM market, and what strategies are they employing to succeed?
- What industrial trends, drivers, and challenges are influencing the expansion of the Automotive Tire OEM market?
- What are the main findings of a five forces analysis of the global Automotive Tire OEM market?
Here are the key highlights of the report:
- Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
- In-depth analysis of the competitive landscape, identifying key trends within the industry.
- Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER’s five forces.
- Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
- Guidance provided for new market entrants, assisting them in navigating the industry landscape.
- Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.
Request Full Report-https://reportocean.us/sample-request/report_id/bzwt2297
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom-line goals which will boost your market share in today’s competitive environment. Report Ocean is a ‘one-stop solution’ for individuals, organizations, and industries that are looking for innovative market research reports.
Get in Touch with Us:
Report Ocean:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1 888 212 3539 (US – TOLL FREE)
Website: https://reportocean.us/