MarkNtel Advisors, a leading market research firm, has showed its latest study titled "Global Tire (Tyre) Market", offering a detailed industry overview and market perspective. This comprehensive research provides insights into the current state of the market, highlighting recent advancements and emerging trends.
The report combines in-depth quantitative analysis with qualitative analysis; it ranges from macro-overviews of the overall market size, industry chain, and market dynamics to micro details of segment markets. This, as a result, provides a thorough overview of the industry under study as well as a profound understanding of all of its important features.
Analysis and Insights into the Global Tire (Tyre) Market: 2024-2029
The Global Tire Market size is valued at around USD 232 billion in 2024 and is estimated to grow at a CAGR of about 4.11% during the forecast period, i.e., 2024-29.
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What are the primary factors driving the growth of the Global Tire (Tyre) Market?
Global Tire (Tyre) Market Trend:
Technological Advancement to be a Trending Aspect in the Market – Numerous technological advancements have been made in the tires, and nowadays, many manufacturers are launching highly advanced & innovative tyres in the market, thus becoming a trending aspect across the Tire Market in the present years. The introduction of rimless tires, green tires, and the usage of lightweight elastomers & metals such as alloys & carbon fiber or composites like manganese bronze & nickel aluminum bronze to manufacture tires are some of the technological advancements being done in the industry.
Furthermore, prominent tire manufacturers are integrating nanotechnology and other cutting-edge software & innovations into their tire production processes, resulting in a diverse range of advanced tire options. For instance, Bridgestone Tires, a renowned tire and rubber manufacturer, employs Contact Area Information Sensing (CAIS) technology to gather & assess data regarding the tire's contact area, enabling the detection of road conditions. Hence, with these advancements the future of transportation would transform completely, thus contributing to encouraging the market growth.
Global Tire (Tyre) Market Segmentation:
The Global Tire (Tyre) Market is categorized in to different segments. Analyzing growth across these segments enables a comprehensive understanding of key growth areas within the industry. This segmentation provides valuable market insights, empowering stakeholders to make strategic decisions and identify primary market applications effectively.
By Vehicle Type
-Two-wheeler- Market Size & Forecast 2019-2029, (Thousand Units)
-Three-wheeler- Market Size & Forecast 2019-2029, (Thousand Units)
-Passenger Car- Market Size & Forecast 2019-2029, (Thousand Units)
-Commercial Vehicle -Market Size & Forecast 2019-2029, (Thousand Units)
-Light Commercial Vehicle (LCV) -Market Size & Forecast 2019-2029, (Thousand Units)
-Medium & Heavy Commercial Vehicle (MHCV) -Market Size & Forecast 2019-2029, (Thousand Units)
-Off-the-Road Vehicle (OTR)-Market Size & Forecast 2019-2029, (Thousand Units)
By Demand Type
-OEM - Market Size & Forecast 2019-2029, (Thousand Units)
-Replacement - Market Size & Forecast 2019-2029, (Thousand Units)
By Tire Type
-Radial- Market Size & Forecast 2019-2029, (Thousand Units)
-Bias - Market Size & Forecast 2019-2029, (Thousand Units)
By Season
-Summer Tires- Market Size & Forecast 2019-2029, (Thousand Units)
-Winter Tires - Market Size & Forecast 2019-2029, (Thousand Units)
-All Season Tires- Market Size & Forecast 2019-2029, (Thousand Units)
By Sales Channel
-Direct Sales- Market Size & Forecast 2019-2029, (Thousand Units)
-Dealer Distributor - Market Size & Forecast 2019-2029, (Thousand Units)
-Online Platform- Market Size & Forecast 2019-2029, (Thousand Units)
By Rim Size
-Up to 12” - Market Size & Forecast 2019-2029, (Thousand Units)
-12.1” to 15” - Market Size & Forecast 2019-2029, (Thousand Units)
-15.1” to 18” - Market Size & Forecast 2019-2029, (Thousand Units)
-18” to 22.5” - Market Size & Forecast 2019-2029, (Thousand Units)
-22.6” to 26” - Market Size & Forecast 2019-2029, (Thousand Units)
-26.1” to 35” - Market Size & Forecast 2019-2029, (Thousand Units)
-35.1” to 47” - Market Size & Forecast 2019-2029, (Thousand Units)
-Above 47” - Market Size & Forecast 2019-2029, (Thousand Units)
By Price Category
-Budget- Market Size & Forecast 2019-2029, (Thousand Units)
-Economy- Market Size & Forecast 2019-2029, (Thousand Units)
-Premium- Market Size & Forecast 2019-2029, (Thousand Units).
Geographical Analysis into the Global Tire (Tyre) Market:
· North America
· South America
· Europe
· The Middle East & Africa
· Asia-Pacific
Read Detailed Index of full Research Study at – https://www.marknteladvisors.com/research-library/global-tire-market.html
Competitive Landscape and Global Tire (Tyre) Market Share Analysis:
The competitive landscape of the Global Tire (Tyre) Market includes comprehensive details about competitors. These details encompass company overviews, financial performance, revenue generation, market potential, investments in research and development, new market strategies, production facilities, strengths and weaknesses, product launches, ongoing trials, approvals, patents, product range, dominant applications, and technology life cycle.
The report features major players including:
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, CEAT Limited, JK Tire & Industries Ltd., Apollo Tires Ltd, Zhongce Rubber Group Co., Ltd., Sailun Group Co., Ltd, Others.
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Questions Addressed in this Study
· What factors are driving the Global Tire (Tyre) Market growth?
· How is the Global Tire (Tyre) Market expected to grow over the next five years?
· What are the key insights into the current trends in the Global Tire (Tyre) Market?
· What is the current size of the Global Tire (Tyre) Market, and how is it projected to change in the future?
· What is the future outlook for the Global Tire (Tyre) Market in terms of technological advancements and market expansion?
Why choose MarkNtel?
MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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