Global Automotive Tire Market Growth 2023-2029

Global Automotive Tire Market Growth 2023-2029

Automotive Tire is a ring-shaped component that surrounds a wheel's rim to transfer a vehicle's load from the axle through the wheel to the ground and to provide traction on the surface traveled over. Most tires are pneumatically inflated structures, which also provide a flexible cushion that absorbs shock as the tires rolls over rough features on the surface. Tires provide a footprint that is designed to match the weight of the vehicle with the bearing strength of the surface that it rolls over by providing a bearing pressure that will not deform the surface excessively.

LPI (LP Information)' newest research report, the “Automotive Tire Industry Forecast” looks at past sales and reviews total world Automotive Tire sales in 2022, providing a comprehensive analysis by region and market sector of projected Automotive Tire sales for 2023 through 2029. With Automotive Tire sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Automotive Tire industry.

This Insight Report provides a comprehensive analysis of the global Automotive Tire landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Automotive Tire portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Automotive Tire market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Automotive Tire and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Automotive Tire.

The global Automotive Tire market size is projected to grow from US$ 126960 million in 2022 to US$ 165260 million in 2029; it is expected to grow at a CAGR of 165260 from 2023 to 2029.

Global automotive tire key players include Bridgestone, Michelin, Goodyear, Continental, Hankook, etc. Global top 5 manufacturers hold a share over 56%.

Asia-Pacific is the largest market, with a share about 35%, followed by Europe and North America with the share about 33% and 25%.

This report presents a comprehensive overview, market shares, and growth opportunities of Automotive Tire market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Replacement Tires

OE Tires

Segmentation by application

Passenger Car

Commercial Vehicle

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Bridgestone

GoodYear

Continental

Michelin

Sumitomo

Hankook

Pirelli

Yokohama

Zhongce Rubber

Toyo Tire Corporation

Cooper Tire

Apollo Tyres

KUMHO TIRES

Linglong Tire

MRF

Cheng Shin Rubber (Maxxis)

Sailun Group

Nokian Tyres

Triangle Tire Group

JK TYRE

AEOLUS TYRE

Giti

Nexen Tire

Key Questions Addressed in this Report

What is the 10-year outlook for the global Automotive Tire market?

What factors are driving Automotive Tire market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Automotive Tire market opportunities vary by end market size?

How does Automotive Tire break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.