The Tires Market is anticipated to reach US$ 169.06 Bn by 2029 from US$ 126.75 Bn in 2022 at a CAGR of 4.2% during a forecast period.
Tires Market Report Overview
Maximize Market Research published reports that help clients to understand the landscape of the Tires Market that the client is competing in. The report gives insights about the market to help clients understand the demand for their product in the future and how competitive the Tires Market is likely to be. The Tires Market market overview gives thorough details about the size of the market, trade statistics, leading players, and various market metrics such as life cycle, trends, etc.
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Tires Market Report Scope and Research Methodology
The Tires Market market report delves into the importance of segments and regional markets, based on factors like market size and growth rate. A comprehensive overview of all segments and regions is outlined within the report. An in-depth analysis of projected statistics, significant developments, and revenue is encompassed in the Tires Market market report. It also entails a thorough examination of the key strategies employed by leading market players to enhance business growth on a global scale while maintaining a competitive edge. The research on the Tires Market market encompasses an evaluation of production, consumption, revenue, market share, and growth rates across the following regions: North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. The application of SWOT analysis offers insights into the strengths and weaknesses of the Tires Market market.
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Tires Market Regional Insights
The Asia-Pacific region is expected to grow at a CAGR of 5.3 percent during the forecast period. In 2022, the Asia Pacific region holds 48 percent of the global market. The tire market in Asia is diverse, with passenger car and light truck tires dominating. In 2022, China, India, and Japan accounted for 72 percent of the Asia tire market, with 1.3 billion tires valued at $97.4 billion. Although COVID-19 has a significant impact on tire sales in 2020, the Asian tire market is expected to grow by 3.6 percent during the forecast period.
Tires Market Segmentation
by Type
Radial Tires
Bias Tires
Non-Pneumatic Tires
by Vehicle Type
Passenger Cars
Commercial Cars
Off-Road Cars
Tires Market Key Players
1. Cooper Tire & Rubber Company (U.S)
2. Goodyear Tire & Rubber Company (U.S)
3. Avon Tyres (U.K)
4. Continental AG (Germany)
5. MITAS A.S. (Czech Republic)
6. Michelin (France)
7. Nokian Tyres Oyj (Finland)
8. Pirelli & C. S.p.A (Italy)
9. Apollo Tyres Ltd (India)
10. MRF (India)
11. CEAT (India)
12. JK Tyre & Industries Ltd (India)
13. Madras Rubber Factory Ltd. (India)
14. Bridgestone Corporation (Japan)
15. Toyo Tire & Rubber Co., Ltd. (Japan)
16. Sumitomo Corporation (Japan)
17. Yokohama Tire Corporation (Japan)
18. Giti Tire Pte. Ltd (Singapore)
19. Cheng Shin Rubber Ind. Co. Ltd (Taiwan)
20. Maxxis International (Taiwan)
21. Hankook Tire Co., Ltd (South Korea)
22. Kumho Tire Co., Inc (South Korea)
23. Nexen Tire Corporation (South Korea)
24. Zhongce Rubber Group Co., Ltd. (China)
25. Sailun Group Co. Ltd. (China)
26. Shandong Linglong Tire Co., Ltd (China)
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Key questions answered in the Tires Market are:
- What are the Tires Market segments?
- Which Tires Market market segment is expected to grow rapidly during the forecast period?
- What is the expected CAGR of the Tires Market market during the forecast period?
- Who are the top players in the Tires Market industry?
- Which region is expected to grow at a high CAGR during the forecast period?
- Which region held the largest Tires Market market share in 2022?
Key Offerings:
- Market Overview
- Market Share
- Market Size
- Forecast by Revenue | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by segments, sub-segments and region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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