Code: IMR0301 | Automotive &Transportation | Oct-2021 | 102 Pages |
In 2021, the Global Automotive
Tires Market’s size was valued at USD 102.7 billion and is estimated to reach
USD 113.9 billion by 2028 and is expected to be growing at a CAGR of 2.1 %
throughout the forecast period. In this report, 2021 has been taken as the base
year while 2020 is the historical year. The forecast year for the report is
2028 to approximate the size of the market for Automotive Tires.
Icon Market Research’s report on Automotive
Tires studies the past and current opportunities of growth and trends to get a
clear picture of the growth indicators of the market for the forecast period
2021 to 2028. The report also offers the revenue generated by the Automotive
Tires market considering 2020 as the historical year, 2021 as the base year,
and 2028 as the forecast year. The report also consists of the compound annual
growth rate (CAGR) for the Automotive Tires market over the forecast period.
Report Overview
of Automotive Tires
Market
The Automotive Tires market report provides
information and statistics on market shares, size, restraining factors, and
driving factors for the forecast period 2021 to 2028. It also mentions the role
of main market players in the automotive industry. The report on Automotive
Tires market evaluates the value of the market report, keeping in mind the
application and regional segments, market share, and size while forecasting the
market for each product type and application of the Automotive Tires market in
different segments of the report. The research report also mentions some
sections of the Automotive Tires market including opportunities, growth, trend,
size, demand, and technology used by prominent players of the market. Then, it
gives detailed profiles of the key players as a part of the competitive
landscape of the Automotive Tires market.
The study of the
report divides it into several sub-segments and represents the whole automotive
industry. An estimation of the revenue generated by the entire automotive
industry and its sub-segments are also provided in the report. It decides the
factors that affect the demand of the automotive industry rapidly, including
methods of development, growth networks, and the product model. The report also
points out the greatest prospects for the growth of the automotive market such
as forecasting the growth of the market, the launch of new goods, and analysis
of the product demand, purchase decisions, several economic factors that are
important to determine the trend of Automotive Tires market, and the
attractiveness of the market. The report on the Automotive Tires market will
help in assisting the stakeholders in identifying high-potential customers,
such as distributors and manufacturers.
Methodology of
Automotive Tires
Market
The methods used for collecting
information for the report involve 4 main activities. These activities help in
estimating the current size of the Automotive Tires market. Thorough secondary
research was conducted to collect information on the Automotive Tires market,
such as new technologies coming into the market, and components connected with
this market. Then the collected information was validated with experts from the
automotive industry across all the value chains through primary researches.
Both top-down and bottom-up approaches were used for estimating the market
size.
The secondary research includes
collecting data from sources such as government publications such as
country-level automotive associations and organizations, World Bank, Eurostat,
Organization for Economic Co-operation and Development (OECD), and CDC;
regulatory and corporate filings such as SEC filings, annual reports, investor
presentations, and business magazines, financial statements, press releases,
and research journals, free and paid automotive databases such as Organization
International des Constructer’s d’Automobiles (OICA), Marlines, etc., and
trade, business, and professional associations. The secondary data collected
was then analyzed to predict the overall size of the market which was later
validated with primary research.
Thorough primary research was done
after getting a clear picture of the Automotive Tires market through secondary
research. Many market experts were interviewed for the primary research from
both the supply-side players and demand-side players and across four major
regions, namely, Europe, North America, Asia Oceania, and the Rest of the
World. Apart from the interviews, primary data was collected through mails,
questionnaires, and telephonic interviews.
Growth Mapping of Automotive Tires Market
The main aim of the
Automotive Tires report is to give the map of the growth for the Automotive
Tires market that will help in providing the clients with the required
information for the formulation strategies to meet their respective business
goals. The report also provides deep knowledge of the Automotive Tires for the
previous year as well as for the forecast years and what the CAGR level of the
market is going to be. This report is a synopsis of what the market conditions
are going to be while also giving information regarding the market’s
definition, classifications, applications, and engagements are. This report
also aims to analyze the Automotive Tires market’s developments including the
market improvement, market position, and others which are usually done by the
prominent players and brands of the automotive industry. This report also
consists of all the market drivers and restraints which are obtained through
SWOT analysis. The report also has the CAGR values of the Automotive Tires market
for the base years 2021, the historic year 2020, and forecast years 2021-2028.
Regional
Analysis of Automotive Tires
Market
The Automotive Tires market report provides a study for more than 20 countries and their market players The report covers a regional and country-level analysis that covers North America, South America, Europe, Asia Pacific (APAC), Africa, and the Middle East. The market is deeply analyzed for each region, which helps in identifying the market trends for each region, growth opportunities, and restraining factors.
For the forecast year 2021-2028,
it has been estimated that North America will the dominating market for Automotive
Tires. This region is
expected to see growth in the automotive industry because of the increasing
population, increase in per capita income, and improvement in living standards.
There has been an increase in demand for comfort features in vehicles and
fuel-efficient vehicles which accelerates the growth of the Automotive Tires
market. The weight reduction of vehicles and enhanced energy efficiency is
further driving the automotive industry. The other factors which are
driving the growth of the Automotive Tires market include the development of
marketing analytics tools and firmly established existing players in the
market. In addition to this, government agencies, companies, third-party
administrators, etc. are channelizing their efforts to make customer-centric
automotive products which will also contribute to the growth of the Automotive
Tires market in this region. Rising demand for vehicles and their parts, increased
investment by the government, new and advanced technology, and machinery, along
with the improved marketing tactics will likely cause the Automotive Tires
market to grow substantially.
The Asia Pacific market is estimated to grow at the highest CAGR during
the forecast period (2021-2028). This growth is driven by the increasing
research activities, growing demand for vehicles and parts, and an increasing
number of initiatives by market players for expanding their presence in the
APAC, and higher adoption of Automotive Tires in several APAC countries. Improvements in GDP per
capita and infrastructure development have urbanized the region to a greater
extent turning rural areas into urban areas. The sudden surge in the demand has
caused the cities to fall into unsustainable consumption models. The top key
players in the Automotive Tires market are located in the region. China and India are expected to
offer significant growth opportunities for players operating in the Automotive
Tires market, owing to the growing support from government bodies, increasing
demand for new vehicles with special features, and the presence of
less-stringent regulations and data requirements (as compared to developed
countries) in their respective healthcare systems.
Competitive
Landscape of Automotive
Tires Market
The report provides a competitive
landscape on both the quantitative as well as qualitative research of Automotive
Tires market. The report also provides detailed insights on the development
methods used by the key market players. The report offers deep research on the
key market players and details on the competitiveness of these players. The
main business strategies used by these players such as mergers and acquisitions
(M&A), collaborations, affiliations, and contracts are also and analyzed in
the report. For each competitor, the report studies their global presence,
service offerings, competitors, and specification. The main players covered by
the study on the global Automotive Tires market are: Bridgestone Corporation
(Japan), Goodyear Tire & Rubber Company (United States), Continental AG
(Germany), Michelin (France) and Sumitomo Rubber Industries (Japan).
The Report
Provides Insights on The Following Pointers:
●
It gives a forecast analysis of
factors that are driving or restraining the development of the Automotive Tires
market.
●
The report gives a seven-year
forecast value evaluated on the basis of the current market performance of the
automotive industry.
●
It helps in understanding the main
segments of the products and their future.
●
The report gives a deep analysis
of changing competition in the market which keeps you ahead of your
competitors.
●
The report gives the market definition of the Automotive Tires
market along with the analysis of different factors influencing the market such
as drivers, opportunities, and restraints.
The Report
Answers Questions Such As:
●
What is the potential opportunity for the Automotive Tires market?
●
What are the major drivers, restraints, and opportunities of the Automotive
Tires market?
●
What is the market share of the leading segments and sub-segments
of the Automotive Tires market in the forecast period (2021-2028)?
●
How did the Automotive Tires market evolve?
●
How each segment of the Automotive Tires market is expected to grow
during the forecast period?
●
What is the expected revenue to be generated by each of the
segments by the end of 2028?
●
What are the key development strategies implemented by the key
players to stand out in this Automotive Tires market?
●
What is the preferred business model used for building Automotive
Tires?
●
Which area of application is expected to be the highest revenue
generator in the Automotive Tires market during the forecast period?
●
Which end-user segment is expected to be the highest revenue
generator in this industry during the forecast period?
●
What is the potential of Automotive Tires market in the emerging
countries during the forecast period?
Bridgestone Corporation (Japan)
Goodyear Tire & Rubber Company (United States)
Continental AG (Germany)
Michelin (France)
Sumitomo Rubber Industries (Japan)