The global automotive tire market is projected to reach $306,098 million by 2022, growing at a CAGR of 7.6% during the forecast period. Automotive tire is circular shaped automobile component used to cover wheel's rim externally to protect the wheel rim and enhance the vehicle performance. It also offers tractive force between the road surface and vehicle.
The market segmentation is based on type, vehicle type, and geography. By type, the market is classified into radial tire and bias tire. On the basis of vehicle type, it is categorized into passenger cars, light commercial vehicles, heavy commercial vehicles, and two wheeler. Geographically, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, Australia, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
On the basis of application, world automotive tire market is segmented into four major types, namely, passenger car tire, light commercial vehicle (LCV) tire, high commercial vehicle (HCV) tire, and two wheeler tire. Passenger car tire is the fastest growing segment due to the rise in the demand of passenger cars.
Intense competition between global tire manufacturers to produce sustainable, highly durable, and affordable tires is anticipated to propel the growth of the tire market. In addition, adoption of advanced technology in the manufacturing process of tires is anticipated to drive the market growth.
Key Topics Covered:
Chapter: 1 Introduction
Chapter: 2 Executive Summary
Chapter: 3 Market Overview
Chapter: 4 World Automotive Tire Market, By Vehicle Type
Chapter: 5 World Automotive Tire Market, By Type
Chapter: 6 World Automotive Tire Market, By Geography
Chapter: 7 Related Industry Insights
Chapter: 8 Related Industry Insights
Chapter: 9 Company Profiles
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