Tire Market Report

Looking forward, IMARC Group expects the global tire market to reach 2,665 Million Units by 2027, exhibiting a CAGR of 2.8% during 2022-2027.

STE R SHERIDAN, WYOMING, UNITED STATES, April 19, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global market reached a volume of 2,268 Million Units in 2021. Tire refers to a thick, ring-shaped rubber component that is utilized for covering the external rim of the wheel. It assists in transferring the vehicle load and ensuring tractive force between the road surface and the vehicle. This, in turn, enhances vehicle handling, increases shock absorption, and reduces vibrations.  Tires offer additional benefits, such as better mileage, optimized automobile performance and safety, and improved driving experience, due to which it is extensively used in passenger, commercial and electric vehicles (EVs). At present, tires are commercially manufactured using various natural and synthetic materials, including rubber, polyester, and vulcanization accelerator.

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The significant expansion in the automotive sector and the increasing production and sales of various passenger and commercial vehicles are primarily driving the tire market growth. Moreover, the implementation of green initiatives by governments of various countries have prompted manufacturers to introduce eco-friendly, rimless, nitrogen-based tires that help lower the rolling resistance and offer better grip. This, in turn, is impelling the market growth. Apart from this, the widespread adoption of innovative designs and technology, such as the use of lightweight elastomers and metals to increase the durability, efficiency, and affordability of the tire, are also contributing to the market growth. Looking forward, IMARC Group expects the global tire market to reach 2,665 Million Units by 2027, exhibiting a CAGR of 2.8% during 2022-2027.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

Michelin
Bridgestone
Continental
Goodyear
Sumitomo
Pirelli
Yokohama
Hankook
Toyo
Kumho

Breakup by Design:

Radial
Bias

Breakup by End-Use:

OEM Market
Replacement Market

Breakup by Vehicle Type:

Passenger Cars
Market Breakup by Rim Size
Market Breakup by Tire Size
Price Ranges by Rim Size
Light Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Price Ranges by Rim Size
Medium and Heavy Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Price Ranges by Rim Size
Two Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Price Ranges by Rim Size
Three Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Price Ranges by Rim Size
Off-The-Road (OTR)
Market Breakup by Rim Size
Market Breakup by Tire Size
Price Ranges by Rim Size

Breakup by Distribution Channel:

Offline
Online

Breakup by Season:

All Season Tires
Winter Tires
Summer Tires

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Argentina
Colombia
Chile
Peru
Others
Middle East and Africa
Turkey
Saudi Arabia
Iran
United Arab Emirates
Others

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Note: We are updating our reports, If you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:                                                    

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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