Press release
Tire Industry is expected to register a CAGR of 12% | Michelin (France), Bridgestone (Japan), Continental AG (Germany)
The automotive tire Industry is expected to register a CAGR of 12% from the 8 years from 2022 to 2030. The fast growth rate is attributed to the fact that the middle classes are exploding around the world. This is especially true in the Asia-Pacific region. These people want to drive safer and more efficient cars that are also environmentally friendly. There are more road accidents, especially in developing nations and the Asia-Pacific region. Governments in these nations are responding by requiring that newer cars are safer, more efficient, and safer for the environment. They are requiring the same of their tires.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/2253
List of Key Companies
Michelin (France)
Bridgestone (Japan)
Continental AG (Germany)
Hankook Tire (South Korea)
Pirelli & C. S.p.A. (Italy)
Toyo Tire Corporation (Japan)
Kumho Tire (South Korea)
Giti Tire (Singapore)
Maxxis International (Taiwan)
Nexen Tire Corporation (South Korea)
Market segmentation
By rim size
13-15"
16-18"
19-21"
Over 21"
The 13-15" sub-segment has the largest market share. It's mainly because more people are driving Land Rovers and other heavier and more sophisticated passenger cars. Rim size 16-18 inches are used in vehicles that need more tire support when traveling.
By distribution channel
OEM
Aftermarket
By vehicle type
The passenger car sub-segment is the most popular vehicle type on the road around the world today. Light commercial vehicles are taking off in popularity as tourism is making a comeback around the world. Heavy commercial vehicles are also becoming more popular as global commerce picks up.
By season segment
Winter
Summer
All seasons
The winter category has the largest market share because this is the season when road conditions are the most dangerous around the world!
By propulsion type
EV
ICE
BEV
HEV
Regional analysis
The Asia-Pacific region leads in terms of CAGR because of a large and growing middle class and increasing purchasing power. The North American region leads in terms of market share. The region is home to a large middle class with substantial purchasing power. It also has an environmentally conscious public that is willing to pay a premium for safer cars that have tires that are safer, more efficient, and are friendlier for the environment.
Also, many companies in the North American region have been passing laws that require the usage of safer tires that are friendlier for the environment in newer models and makes of cars.
Industry news
Michelin Tire recently entered into an agreement with Purcell Tire and Rubber Company. The resulting company would enter new markets easier.
Browse In-depth Market Research Report @ https://www.marketresearchfuture.com/reports/automotive-tire-market-2253
Browse more report
Micro-Hybrid Vehicles Market@ https://www.marketresearchfuture.com/reports/micro-hybrid-vehicles-market-5969
Remote Vehicle Shutdown Market@ https://www.marketresearchfuture.com/reports/remote-vehicle-shutdown-market-4664
Rubber Molding Market@ https://www.marketresearchfuture.com/reports/rubber-molding-market-1906
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
Market Research Future
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Website: https://www.marketresearchfuture.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 Tire Industry is expected to register a CAGR of 12% | Michelin (France), Bridgestone (Japan), Continental AG (Germany) here
News-ID: 2783970 • Views: …
More Releases from Market Reasearch Future
Digital Ink Market Strategic Imperatives for Success and Rising Demand Till 2030
In the vast landscape of digital technologies, where innovations continually redefine our interaction with information, digital ink stands out as a remarkable fusion of tradition and modernity. In a world where screens dominate our daily lives, digital ink offers a bridge between the tangibility of ink on paper and the versatility of electronic displays. This convergence has sparked a burgeoning market for digital ink, reshaping how we consume, create, and…
Motor Vehicle Market Size, Share, Growth Future Developments Forecast to 2032
The global Motor Vehicle market is poised for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 10.6% anticipated over the forecast period. The Motor Vehicle Market research report serves as a vital tool, offering key stakeholders invaluable insights into the market landscape, thereby empowering them to make informed decisions. A primary goal of such reports is to identify and capitalize on business growth opportunities, enabling key players…
Snowmobile Parts & Accessories Market Revenue, Size, Share, Trends Forecast Till …
The global Snowmobile Parts & Accessories market is expected to experience significant growth, with a projected Compound Annual Growth Rate (CAGR) of 4.4% during the forecast period. The Snowmobile Parts & Accessories Market research report provides valuable insights into the market landscape, aiding key players in making informed decisions. One of the primary objectives of such market research reports is to identify and capitalize on business growth opportunities. By leveraging…
Electric Vehicle (EV) Insurance Market Revenue, Growth, Share, Current Trends Fo …
The Global Electric Vehicle (EV) Insurance market is poised for significant growth, with an anticipated Compound Annual Growth Rate (CAGR) of 21.8% during the forecast period. Market research reports play a crucial role in providing insights into the market scenario, aiding key players in making informed decisions. These reports are instrumental in maximizing business growth opportunities and enhancing profitability, thus facilitating the transformation of businesses into successful ventures.
One of the…
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…
