Global Automotive Tire Market Earns $ 2027 Billion by 154.40: AMR

1 June 2020

According to a report published by Allied-Market-Research, the global automotive tire market was fixed at 11.16 at $ 190.0 billion, with 154.40 reaching $ 202.7 billion and 4.1. From 2020

Globally, volatile prices for raw materials and growing markets for recycled tires hamper market due to increased vehicle production and sales across various vehicle segments, introduction of advanced technology in manufacturing processes, and increased competition among tire manufacturers .. Conversely, technological advances and fuel economy and safety concerns are expected to create lucrative opportunities for market participants in the coming years.

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Covid-19 Scenario: The advent of Covid-19 has had a major impact on the global automotive tire industry.

According to the Covid-19 Impact Assessment presented by LMC Automotive Limited, about 78% of companies lack sufficient staff to run a complete production line.
Most of the automobile supply chain is connected to China, which negatively impacts sales in the forklift market.
However, government relief funds are expected to minimize their overall impact on market growth.

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The global automotive tire market is segmented by type, vehicle type, rim size, distribution channel, and geography. Based on type, the market is divided into summer, winter, and all seasons. The all-season segment has the largest share in 2019, accounting for over 90% of total revenue. However, the winter segment is expected to register a maximum CAGR of 6.0% during the forecast period.

Vehicles are classified into passenger vehicles, commercial vehicles, and electric vehicles. The passenger car sector dominated the market in 2019, accounting for almost three quarters of the market. However, the EV segment is expected to record a maximum CAGR of 7.6% during the forecast period.

Based on distribution channels, the market is divided into OEM and after-market. The aftermarket sector will have the largest share in 2019, accounting for more than half of the market, with a maximum CAGR of 4.30% during the survey period.

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The global automotive tire market is analyzed in several regions including North America, Asia Pacific, Europe and LAMEA. It will have the largest share of the Asia Pacific market in 2019. The region will register a maximum CAGR of 4.3% during the forecast period.

Global automotive tire market report includes Bridgestone, Michelin, Continental, Goodyear Tires & Rubber, Pirelli Tire CSpA (China National Ke Ltd., Yokohama Rubber Co., Ltd.

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Similar reports we have in the tire industry:

ATV-UTV Tire Market: The global ATV and UTV tire market size is estimated at 385.8, valued at $ 2018 million, reaching 2026 by 698.1, registering 7.5% cagr.

Advanced Tire Market: The global advanced tire market size is expected to reach $ 2020 million at 248.7, reaching $ 203.0 million by 1,349.7, with a cagr of 18.4% from 2020 to 2030

Pneumatic Tires Market: The global pneumatic tires market will generate a revenue of $ 2020 billion by 287.5 and register a CAGR of 2015-2020 during the forecast period of 7.0.

Automotive Airless Tire Market: Airless tires or non-pneumatic tires (NPT) work without inner tube and air pressure, and composite spokes retain their shape

Tire Reinforcement Materials Market: This report projects trends and opportunities in the global tire reinforcement materials market. It includes comprehensive research methodologies and reliable forecasting and qualitative and quantitative analysis to understand the current overview and forecast market behavior during the forecast period.

Green Tire Market: Green tires are manufactured from renewable materials such as nylon rubber by a process that does not require extra energy. Traditional tires are made from rubber, but with increasing energy concerns, tires are made from renewable raw materials such as plasticizers and resins.

Competitive Tire Market: The competitive tire market is segmented based on product application, edge usage, and tire type. We would like to inform you that we have car racing tires and motorcycle racing to use the product.

Automotive Winter Tires Market: The global winter tires market is segmented based on rim size, stud presence, sales channel, and vehicle type.

Aircraft Tire Market: The aircraft tire market is segmented based on type, manufacturer, end user and region.

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Source: globenewswire.com