Automotive Tyre Market 2019: Global Key Players, Trends, Share, Industry Size, Segmentation, Opportunities, Forecast To 2023
Oct 14, 2019
Wiseguyreports.Com Adds “Automotive Tyre - Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2023” To Its Research Database.
Pune, India - October 14, 2019 /MarketersMedia/ —
Global Automotive Tyre Market by Manufacturers, Regions, Type and Application, Forecast to 2023
Wiseguyreports.Com Adds “Automotive Tyre - Market Demand, Growth, Opportunities, Manufacturers and Analysis of Top Key Players to 2023” To Its Research Database.
Market overview
A tyre is shaped like a ring to fit around a wheel’s rim in an effort to guard it and improve vehicle performance. Automobile tyres, likes most others, provide a cushion to absorb shocks, offering traction between the vehicle and the road. The main purpose of tyres is safety and enabling ease of driving on different terrains. In fact, one of the factors that have led to the advancement and demand for tyres is the need to ensure the safety of passengers and/or goods carried.
The Global Automotive Tyre market was evaluated at 183400 million US$ in 2017 and is predicted to reach 211500 million US$ by 2023 growing at a CAGR of 2.4% during the forecast period.
The rapidly increasing popularity in Europe and Asia-Pacific, mainly China, India, and Japan, is expected to be a strong contributing factor for the market growth along with integrated technology system in commercial vehicles.
This report sheds light on market drivers, opportunities and restraints faced, key players in the market along with their company profiles. All in all, it proves to be a helpful source for understanding the global automotive tyre market.
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Segmentation
The Global automotive tyre market is segmented by product, application, and regions.
In terms of products, the market is classified into Winter Tyre, Summer Tyre and All Season Tyre. For each type, the report takes into consideration production, revenue, price, market share, and growth rate.
On the basis of the end users/applications, the market is divided into Commercial Auto, and Passenger Auto. The report considers the status and outlook of each applications consumption, market share, growth rate, and sales.
Geographically, the market spans key regions of North America, Europe, Asia-Pacific, South America, and Middle East and Africa.
Regional overview
The report provides a detailed country-wise analysis of the regions the automotive tyre market spans. These include:
North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Columbia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Asia held the largest production market share of 59.23% in 2015 and continues to be the biggest supplier of automotive tyres followed by Europe holding a production market share of 16.9% back in 2015.
However, when it comes to consumption, Europe is the largest consumer with a consumption of more than 479 million units and a consumption market share of 26.12 % in 2015. North America followed Europe as the second largest consumer with a consumption market share of 23.25% in 2015.
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Industry news
To keep up with the prediction of autonomous and smart cars prevailing the market by 2050, The Intelligrip-Urban tyres introduced by GoodYear collects data about the roads and weather conditions from surroundings and provides direct input into the vehicle’s system.
Pirelli Connesso is one more smart tyre which enables the driver to check the tyre health using an app on a smartphone. These tyres come with inbuilt sensors and have the ability to schedule an appointment with the nearest retailer to fix potential issues.
Key Players
The report covers a comprehensive study of the competitive scenario of the Automotive Tyre market Status and the current trends that are predicted to disrupt the market. It identifies dynamic players of the market, including both the major and emerging players. The report contains the companies in the market share review to offer a more extensive overview of the key market players. Moreover, the report also comprises noteworthy strategic developments of the market such as new product launch, partnerships, agreements, research & development collaborations & joint ventures, acquisitions & mergers, and growth of most important market players on a global and regional basis.
Bridgestone
Michelin
GoodYear
Continental
Sumitomo
Pirelli
Hankook
Yokohama
Cheng Shin Rubber (Maxxis)
Zhongce Rubber
Giti
Cooper Tire
KUMHO TIRES
TOYO Tyre
Triangle group
Continued………...............
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