An automotive tyre is a rubber-covered circular vehicle component that covers the wheel rim from the outside. The tyre's primary function is to protect the wheel rim while also providing tractive force between the vehicle and the road surface. Because it is made of rubber, it also functions as a flexible cushion, absorbing vibrations and absorbing vehicle shock. Tread, jointless cap piles, beads, and other materials such as synthetic rubber, carbon black, and fabric are used to make rubber tyres.

Automotive Tire Market Report Scope and Research Methodology:

The report's main goal is to provide a comprehensive analysis of the Automotive Tire market in simple language, including both qualitative and quantitative data. It also provides an in-depth analysis of the most recent trends in each segment from 2022 to 2027, as well as a thorough examination of the Automotive Tire market drivers, restraints, challenges, and opportunities. The report examines all major aspects of the Automotive Tire market, including a value chain analysis, PESTLE analysis, Porter's Five Forces model, market forecasts in terms of value competitive landscape, key players benchmarking, market dynamics, and future market trends.

The bottom-up method was used to estimate the size of the and regional Automotive Tire markets. The data was gathered using both primary and secondary research methods, and the data was gathered using both methodologies to obtain accurate and error-free findings on the Automotive Tire market. Interviews with industry participants, subject-matter experts, high-level executives of key market players, industry consultants, and other experts were conducted as part of the primary research. Secondary research includes gathering data from a pre-selected set of sources for the Automotive Tire market report. The report's PESTLE analysis aids in the development of company strategies in the Automotive Tire industry. The Automotive Tire Market's strengths and weaknesses were determined using a SWOT analysis.

Automotive Tire Market Report Overview:

Stellar Market Research has published reports that assist clients in understanding the landscape of the Automotive Tire Market in which the client competes. The report provides market insights to help clients understand future demand for their product and how competitive the Automotive Tire Market is likely to be. The Automotive Tire market overview provides comprehensive information about the market's size, trade statistics, leading players, and various market metrics such as life cycle, trends, and so on.

Automotive Tire Market size was valued at US$ 118 Billion in 2020 and the total Automotive Tire Market revenue is expected to grow at 6.32% through 2021 to 2027, reaching nearly US$ 181.21 Billion.

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Automotive Tire Market Dynamics:

Leading companies make significant investments in R&D to improve efficiency and produce high-quality tyres. As the popularity of electric vehicles grows, tire manufacturers have developed adaptable and lightweight tyres specifically for them. Over the forecast period, the automotive tire market is expected to benefit from increased automobile manufacturing and robust passenger car demand. SUVs are becoming increasingly popular in India and China, with significant market growth potential. In 2020, the IOMM predicts that 55.83 million passenger cars and 21.78 million commercial vehicles will be produced worldwide. As a result of increased demand for fuel-efficient automobiles and tighter tyre performance standards.

Automotive Tire Market Segmentation:

In 2020, the Passenger Cars category dominated the automotive tire market in terms of revenue, accounting for more than 48% of total revenue. Passenger car demand is heavily influenced by economic conditions such as changes in exchange rates, GDP growth, inflation rates, and government policies. Furthermore, fluctuating fuel prices and transit infrastructure influence passenger automobile demand. The improving economic outlook in the United States, as well as emerging markets such as China and India, are expected to drive future PC demand.

In 2020, the Light Commercial Vehicle (LCV) segment accounted for approximately 37% of total sales, capturing a significant market share. Operating and maintaining an LCV is inexpensive. Furthermore, because LCVs consume less fuel than passenger cars, tyre manufacturers are developing more commercial tyre products than passenger car tyres, as the CV market rapidly catches up.

Automotive Tire Market Key Players:

The Goodyear Tire & Rubber Company (USA)
Pirelli & C.S.p.A. (Italy)
Apollo Tyres Ltd. (India)
CEAT Ltd. (Italy)
China National Tire & Rubber Co. Ltd. (China)
Cooper Tire & Rubber Co., Ltd. (UK)
Giti Tire (Singapore)
Bridgestone Corporation (Japan)
Continental AG (Germany)
Michelin (France)
Sumitomo Rubber Industries, Ltd. (Japan)
Toyo Tire & Rubber Co., Ltd. (Japan)
Yokohoma Tire Corporation (Japan)
Maxxis International (Taiwan)
Cheng Shin Rubber Industry Co. (China)
Hangzhou Zhongce Rubber Co., Ltd. (China)
Hankook Tire (South Korea)
JK Tyre & Industries Ltd. (India)
Kumho Tire Co., Inc. (South Korea)
Nexen Tire Corporation (South Korea)
Nokian Tyres plc (Finland)
Qingdao Fullrun Tyre Corp., Ltd. (China)

Automotive Tire Market Regional Insights:

The report's Regional Analysis assists in understanding the Automotive Tire market in various countries. Political, geographic, purchasing behaviour, and other factors influence the Automotive Tire market in each region. Local development plans are frequently influenced by the performance of the Automotive Tire market. The report includes a thorough examination of all factors, including market size, growth rate, and import and export in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.

Key questions answered in the Automotive Tire Market are:

• What is Automotive Tire Market?
• What are the trends in the Automotive Tire Market?
• What are the factors contributing to the final price of Automotive Tire Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for Automotive Tire Market?
• How is the intervention from regulatory authority is shaping the Automotive Tire Market?
• What growth strategies are the players considering to increase their presence in Automotive Tire Market?
• Who held the largest market share in Automotive Tire Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2027.
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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About Stellar Market Research

Established in 2018, Stellar Market Research is an India-based consulting and advisory firm focused on helping clients reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.

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