The Tires Market is anticipated to reach US$ 169.06 Bn by 2029 from...

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.

Posté 2023-09-21 08:58:01

Tires Market Report Scope and Research Methodology :

Rigorous Data Analysis and Industry Expertise

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Tires Market Dynamics:

Increase in Vehicle Production & Sales: The tire market's growth is primarily driven by the surge in global vehicle production and sales, encompassing not only passenger cars but also commercial vehicles like trucks, tractors, and trailers. Increasing consumer demand for lightweight vehicles, as well as luxury and premium automobiles, is a key driver. Vehicle sales globally reached 88.7 million in 2019 and are projected to exceed XX million by 2026, leading to high demand for tires.

Tires Market Regional Insights:

In the global market, the United States holds a 28% share and is expected to experience a growth rate of 5.4% during the forecast period. Europe is projected to reach 593 billion units, with Germany expected to grow at a CAGR of 3.4%. Japan and Canada are also set to grow at 2.6% and 3.6%, respectively, throughout the forecast period.

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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:

North America
Cooper Tire & Rubber Company (U.S)
Goodyear Tire & Rubber Company (U.S)

Europe
Avon Tyres (U.K)
Continental AG (Germany)
MITAS A.S. (Czech Republic)
Michelin (France)
Groupe Michelin (France)
Nokian Tyres Oyj (Finland)
Pirelli & C. S.p.A (Italy)

Asia Pacific
Apollo Tyres Ltd (India)
MRF (India)
CEAT (India)
JK Tyre & Industries Ltd (India)
Madras Rubber Factory Ltd.(India)
Bridgestone Corporation (Japan)
Toyo Tire & Rubber Co., Ltd.(Japan)
Sumitomo Corporation(Japan)
Yokohama Tire Corporation (Japan)
Giti Tire Pte. Ltd (Singapore)
Cheng Shin Rubber Ind. Co. Ltd (Taiwan)
Maxxis International (Taiwan)
Hankook Tire Co., Ltd (South Korea)
Kumho Tire Co., Inc (South Korea)
Nexen Tire Corporation(South Korea)
Zhongce Rubber Group Co., Ltd.(China)
Sailun Group Co. Ltd.(China)
Shandong Linglong Tire Co., Ltd (China)

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