Press release
Automotive Tire Market to register a steady expansion at 5.1% CAGR 2017 to 2022
With a strong focus on fuel efficiency, and demand for low-rolling resistance tires, along with stringent environment regulations, the global market for automotive tires is likely to witness an upsurge in the near future. The market is also expected to benefit from increasing prevalence of green tires on the back of rapidly growing concerns associated with overflowing landfills of scrap tires, and inadequate recycling efforts. OEMs are now focusing on performance and efficiency of tires as imperative engineering parameters. Fact.MR offers a detailed analysis on the global automotive tire market in its recent research for the forecast period 2017 to 2022.
Get Sample copy of this Report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=12
Fact.MR’s report projects the revenues from global automotive tire market to reach nearly US$ 270,000 Mn in 2017. Increasing disposable income of people has resulted into an increased spending in automobiles by individuals, which in turn has fuelled the growth in demand for automotive parts such as tires. With the rapid pace of new technologies influencing the automotive sector, automakers are making huge investments in research & development activities. In addition, increasing life-spans of vehicles have led towards demand for replacement of tires globally. The report projects the global automotive tire market to register a steady expansion at 5.1% CAGR, to reach revenues worth US$ 342,209.2 Mn by 2022-end.
Get Discount of this Report @ https://www.factmr.com/connectus/sample?flag=D&rep_id=12
6 Projections of Fact.MR’s Report on Global Automotive Tire Market
Based on product type, the market is bifurcated into radial tires and bias tires. Although bias tires will remain preferred in the market, sales of radial tires are estimated to register a comparatively higher CAGR through 2022.
Sales of automotive tires in LCVs and two-wheeler vehicles are expected to register parallel expansion during the forecast period, with LCVs estimated to account for a comparatively larger revenue share than two-wheeler vehicles. In addition, sales of automotive tires in passenger cars are expected to exhibit the highest CAGR through 2022. In contrast, M&HCV segment is projected to register the lowest CAGR in the global automotive tire market.
Aftermarket will remain the largest sales channel for automotive tires, expanding at 5.3% CAGR through 2022. Revenues from sales of automotive tires through OEM are anticipated to surpass US$ 10,000 Mn by 2022-end. Asia Pacific Excluding Japan (APEJ) accounts for the largest share of automotive tire sales through OEM.
APEJ is estimated to continue its dominance in the global automotive tire market, in terms of revenues. The automotive tire market in APEJ is estimated to create a robust incremental opportunity between 2017 and 2022.
Although sales of automotive tires in North America will register a comparatively higher CAGR than Europe, Europe will account for a higher revenue share by 2022-end. In contrast, Middle East & Africa (MEA) will account for the lowest revenue share in the global automotive tire market.
Key market players identified in Fact.MR’s report include Bridgestone Corporation, Continental AG, Michelin North America, Inc., The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, Ltd., The Yokohama Rubber Co., Ltd., Pirelli & C. S.p.A., Madras Rubber Factory Limited, Apollo Tires Ltd., and Cheng Shin Rubber Ind. Co.
View Report @ https://www.factmr.com/report/12/automotive-tire-market
About us
Fact.MR is focused on offering transformative intelligence that inspires breakthroughs and innovation. We believe that the right decisions at the opportune time are integral to achieve extraordinary success. We are here to help you with your strategic decision making. And, how do we that? By tapping into the vast labyrinth of data to bring you intelligence that inspires.
Contact
Mr. Rohit Bhisey
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Tel: +353-1-6111-593
Website: https://www.factmr.com
E: sales@factmr.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Automotive Tire Market to register a steady expansion at 5.1% CAGR 2017 to 2022 here
News-ID: 1087151 • Views: …
More Releases from Factmr
N-Butanol Market Surge: Direct Solvent Segment Spearheads Explosive Growth from …
The global sales of N-Butanol Market (N-ブタノール市場) in 2021 were held at US$ 4.8 Billion. With 4.0%, the projected market growth during 2022 - 2032 is expected to be significantly higher than the historical growth.N-butanol as Direct Solvent is expected to be the highest revenue-generating category, projected to register a CAGR of 3.9% during 2022 - 2032.
N-Butanol, also known as butyl alcohol, is a four-carbon alcohol that is widely used…
Texture Paints Market Set to Reach US$ 39.2 Billion by 2033, Growing at 8.9% CAG …
The valuation of the global texture paints market (テクスチャペイント市場) is estimated at US$ 16.7 billion in 2023. The global market is forecasted to reach US$ 39.2 billion by the end of 2033, increasing at a noteworthy CAGR of 8.9% over the decade.
Texture paints have become an integral part of modern interior and exterior design, revolutionizing the way surfaces are treated and enhancing the overall aesthetic appeal of spaces. As the…
Body Composition Analysers Market is expected to expand CAGR of 8% to reach US$ …
The global body composition analyzers market stands at US$ 624 million in 2022 and is expected to expand at a high CAGR of 8% to reach US$ 849 million by the end of 2026.Revenue from the sales of hydrostatic weighing equipment is expected to reach US$ 145 million by 2026.
The body composition analyzers market has witnessed significant growth over the past decade due to increasing awareness about the importance of…
Corneal Implant Market Expected to Soar from US$ 37.6 Million in 2024 to US$ 127 …
The global corneal implant market is estimated to be worth US$ 37.6 million in 2024. Projections put the CAGR of the market for the 2024 to 2034 period at 13.0%. The market's growth over the forecast period is set to see the market size expand, reaching a projected value of US$ 127.3 million in 2034.
The corneal implant market has witnessed significant growth in recent years, driven by advancements in ophthalmic…
More Releases for Tire
Pneumatic Tire Market Worth Observing Growth | The Yokohama, Michelin, Continent …
Key Findings of Pneumatic Tire Market
• The growth of the global pneumatic tire market would be supplemented by the growing automobile sector
• The segment of radial tires accounts for the higher sales in the pneumatic tire market owing to their various advantages over cross ply tires, which include longer durability, improved performance and better mileage
• Asia Pacific is the biggest tire market and would maintain its position over the forecast period.
Download FREE Report…
Run Flat Tire Market Research Report | Top players Cooper Tire & Rubber Company, …
The global run flat tire market to gain momentum from the increasing production of commercial and passenger vehicles. Besides, these tires enable drivers to travel to the nearest service center safely, even if there is persistent loss of air from the tires. With the help of these tires, cars can be driven up to around 80km at an average speed. Fortune Business Insights(TM) provided this information in a recent report,…
Tire Recycling Market: How the Business Will Grow in 2025? Prominent Players: Mi …
Tire Recycling Industry 2019 report provides concentrated and in-depth analysis of the existing situation of the Global Tire Recycling market, along with market share, revenue, assertive perception and forecast 2025.the report also provides current Tire Recycling business situation along with a valid assessment of the Tire Recycling business. Tire Recycling report is partitioned based on driving Tire Recycling players, application and regions.
Tire recycling, or rubber recycling, is the process of…
Vacuum Tire Market Scenario Highlighting Major Drivers & Trends, 2019 – 2025 | …
Vacuum Tire Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and…
Tire derived Fuel Market | Top Key Players: Ragn-Sells Group, Liberty Tire Whole …
Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled “Tire derived Fuel Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026” offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years.…
Global Tire derived Fuel Market Research Report 2018-2025 | Global Key -Liberty …
Looking at the current trends across the Tire derived Fuel market, a new study has been included to the wide database of Market Research Hub (MRH). The assessment is titled "Global Tire derived Fuel Market Insights, Forecast to 2025", which discourses the various market impacting factors like drivers, restraints and opportunities. Moreover, readers are informed about the competitive landscape which enlightens about the different players operating in the Tire derived…
