Automotive Tire Market 2018
Automotive Tire Market Share, Size, Trends, And Business Opportunity Analysis Report 2018 include historic data, with forecast data to 2022. Automotive Tire Market report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2022
Global Automotive Tire Market Information Report by Type (Radial, Bias/ Cross Ply), By Section Width (<200 Mm, 200-230mm, <230mm), By End Market (OEM’s, Aftermarket), By Application (Passenger Cars, Commercial Vehicle) and By Region - Global Forecast To 2022
Market Scenario
Automotive tires are used to cover the rim of the wheel for protecting it and withstanding the tactic force between the road surface and the vehicle. Tires are manufactured with rubber, which provides flexible covering to the rim of the wheel, thus helps in reducing vibrations from vehicle machinery. The demand for tires is directly related to the increase in demand of automobiles.
The increase in sales of passenger and commercial vehicles is directly impacting the growth of the automotive tire market. Manufacturers are adopting low Rolling Resistance (LRR) and self-inflating technology due to the increasing awareness for fuel saving, which is directly impacting the growth of the automotive tire market. The other factor which drive the demand of automobile tire market are the increasing demand of customers for better mileage and durability which are provided by the radial tires. The growing demand for eco-friendly tires with the increase in awareness for environment is also fuelling the demand of the automotive tire market.
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Key Players
The key players of Automotive tire market are Continental AG (Germany), Cooper & Rubber Company (U.S.), Hankook Co. Ltd. (South Korea), Goodyear & Rubber Company (U.S.), Michelin Group(France), Pirelli & C. S.p.A.(Italy), Sumitomo Rubber Industries, Ltd (Japan), Bridgestone Corporation (japan), Toyo Tire & Rubber Co., Ltd. (Japan), Yokohama Rubber Co. Ltd.(Japan) and others.
Industry/ Innovation/ Related News:
December, 2017- Bridgestone Corporation announced the launch of five new Battlax motorcycle tires which include the Battlax Sport Touring T31 for sport touring category, Battlax Adventure A41 for adventure category, Battlax Scooter Sc2 and Battlax Scooter Sc2 Rain for Scooter Category and Battlax Racing R11 for circuit racing category.
September 2017- Michelin introduced new tires for Select 2018 Harley-Davidson Softail Motorcycles. Using advanced modeling, engineers from both companies were able to work virtually across global research centers to co-design the tires and fine-tune them to exact specifications.
September, 2017- Toyo Tire & Rubber Co., Ltd. plans to expand the tire production capacity in the US and Malaysia. Toyo Tires plans to add new buildings and equipment to expand the production capacities of the U.S. tire plant and the Malaysia tire plant.
Global Automotive Tire Market – Segmentation
The global automotive tire market can be segmented in to three key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type - Radial, Bias/ Cross Ply
Segmentation by Section Width - <200 Mm, 200-230mm, <230mm
Segmentation by End Market – OEM’s, Aftermarket
Segmentation by Application– Passenger Cars, Commercial Vehicle
Segmentation by Regions: North America, Europe, APAC and Rest of the World.
Regional Analysis of Automotive tire market
Asia-Pacific is expected to dominate the global automotive tire market due the rapidly increasing domestic consumption and the availability of cheap labor in the region. Due to the rising demand in rural areas, India is the fastest growing country in the region, in passenger cars segment. This contributes to the growth of the Asia-pacific region in automotive tire market. Europe region is the second highest in the global automotive tire market. This demand is driven by the booming sport utility vehicles which require high quality automotive tires.
The report for Automotive Tire Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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