An automotive tyre is a rubber-covered circular vehicle component that covers the wheel rim from the outside. The tyre's primary duty is to protect the wheel rim while simultaneously delivering 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 cushioning vehicle shock. Tread, jointless cap heaps, beads, and other materials such as synthetic rubber, carbon black, and fabric are used to make rubber tyres. PESTLE analysis, PORTER's five force analysis, and segment analysis with market shares and forecast size are all included in the automotive tyre market study.

Automotive Tire Market Report Scope and Research Methodology 

The study vividly depicts a Automotive Tire Market structure, including current market trends and predictions to find prospective investment opportunities. It includes a variety of market-influencing aspects such as historical data, recent technical advancements, the competitive landscape, and government policy. The Automotive Tire  Market research informs clients on significant drivers, restraints, challenges, and opportunities. The market has been segmented into three major parts for ease of comprehension, and these major segments of the Automotive Tire Markets have been further divided into several sub-segments. The research also includes a segment-by-segment analysis of the variables impacting market growth, as well as a competitive analysis of prominent market competitors based on their expansion strategies, product, investments, price, and presence in the Automotive Tire sector. 

The data acquired for the Automotive Tire Market study utilising these methodologies was pooled to draw reliable and error-free inferences. Interviews with subject-matter experts, Automotive Tire industry participants, high-level executives of key market companies, industry consultants, and other experts were conducted as part of the primary research. The PESTLE analysis in the market study supports the development of company strategies. The Automotive Tire  Market's strengths and weaknesses were determined using a SWOT analysis.

Automotive Tire Market Overview:

The research looks at market growth drivers and obstacles, as well as corporate strategies, procedures, and a complete financial strategy. Customer expectations are met by customization and thorough information about Automotive Tire Market industry possibilities. The Automotive Tire market research looks at the industry's competitive landscape and key players. This Automotive Tire Market study aids in structure planning in light of modern industrial conditions.

Automotive Tire Market size was valued at US$ 133.38 Billion in 2022 and the total Automotive Tire Market revenue is expected to grow at 6.32% through 2023 to 2029, reaching nearly US$ 204.84 Billion.

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Automotive Tire Market Dynamics:

Leading firms make significant investments in R&D to increase efficiency and manufacture high-quality tyres. As the popularity of electric vehicles develops, tyre manufacturers have designed adaptive and lightweight tyres specifically for them. Over the projected period, the automotive tyre market is expected to benefit from increased automobile manufacturing and solid passenger car demand. SUVs are becoming increasingly popular in India and China, with huge market development potential. In 2020, the IOMM predicts that 55.83 million passenger cars and 21.78 million commercial vehicles will be produced worldwide. Tighter tyre performance regulations and rising demand for fuel-efficient autos are driving tyre manufacturers to develop new tyres with improved wet grip and lower rolling resistance.

Automotive Tire Market Segmentation:

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

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

Automotive Tire Market Regional Insights:

The Automotive Tire the market is divided into five regions: Europe, North America, Asia-Pacific, the Middle East and Africa, and Latin America. The paper estimates revenue growth in USD terms at the regional and country levels from 2021 through 2029. The study includes a regional analysis with the Automotive Tire market size of each area. The countries section of the study looks at a number of market components that are projected to influence present and future Automotive Tire market trends, as well as changes in market rules at the country level. Consumption, production location and amount, import/export analysis, pricing analysis, raw material prices, and upstream and downstream value chain analysis are some of the major components utilised to forecast each country's Automotive Tire  Market conditions.

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)

Key Questions answered in the Automotive Tire Market Report are: 

• What are the Automotive Tire market segments?
• Which segment in the Automotive Tire market is expected to grow rapidly during the forecast period?
• Which are the prominent players in the Automotive Tire market?
• What key trends are expected to emerge in the Automotive Tire market during the forecast period?
• What was the Automotive Tire market size in 2021?
• Which region dominated theAutomotive 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 | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segments 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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