Global Automotive Tire Market Competitive Dynamics, Size, Global Outlook And Forecast To 2025

Competitive Analysis

The development of the market vendors is dependent on the government support, market conditions, and industry development. The players are focusing on reinforcing their presence globally through partnership & collaboration followed by mergers and acquisitions through the forecast period. These strategies are extensively implemented to grow their presence and the customer base.

Segmental Analysis

The segmental analysis of the Global Automotive Tire Market is based on section width, type, end market, vehicle type, and region. By type, the market is segmented into bias and radial. Among these segments, the radial segment is responsible for the major market share and is expected to remain extremely lucrative through the forecast period. On the basis of section width, the market has been segmented into >230mm, <200 Mm & 200-230mm. The <200 Mm segment is responsible for the principal market share and is also expected to develop with a rapidly growing CAGR. By vehicle type, the market segmentation comprises of passenger car and commercial vehicle. Among these segments, the passenger car segment presently accounts for the main market portion and is expected to have the highest CAGR. This will lead to the development of the segment in the future. By end markets, the market has been segmented into aftermarket and OEM. The OEM segment presently accounts for the biggest market portion and is estimated to have the top CAGR in the forecast period.

Detailed Regional Analysis

The regional analysis of the market observes that the Asia Pacific region is responsible for the major market share in 2017, followed by the North American region which is anticipated to develop at a CAGR of 4.66 percent through the forecast period. The Asia Pacific region has the major Global Automotive tire market, as a result of the rise in the Global Automotive industry in nations such as Japan, China, and India. The surge in the penetration level of passenger cars and two-wheelers in the region is boosting the demand for tires. Amplified sales of automobiles in the region can be attributed to issues such as increasing per capita income, bigger infrastructure spending, initiatives to grow the amount of economic production cost and FDI. The North American region is attributed for the next major market portion in 2017, which is anticipated to develop at a CAGR of 4.46 percent during the forecast period. In the North America region, automobile manufacturers will observe a surge in the sales of the passenger cars and commercial vehicles. The upsurge in demand for the new vehicles will allow the growth of the auto tire suppliers significantly.

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