Global Automotive Tire Market: Future Forecast Indicates Impressive Growth Rate Till 2022

Posted on 2018-12-17 by Mark Hub in Automotive // 0 Comments

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OEM channels are foreseen to create a striking incremental opportunity and might possibly overpower the aftermarket channel in the automotive tire market. Among all the regions gauged with regard to automotive tire market, APEJ stands out as a lucrative region in with immense potential in the OEM channel, thereby creating new opportunities for manufacturers in automotive tire market to cash in. The manufacturers in the automotive tire market can count on this region based on this attractiveness and direct their investment plans accordingly. The sales of Automotive Tire Market across aftermarket channels is foreseen to witness a swift upturn and get heavily influenced by diverse customization needs arousing in the automotive tire market.

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Reinventing the Tires is Revitalizing Product Landscape in Automotive Tire Market

Technological advancements have been playing a pivotal role in diversifying automotive tire market for the better. The integration of technology has been slated as one of the eminent factors influencing purchase decisions of customers in automotive tire market. The manufacturers operating in automotive tire market are gearing up to provide the best of innovations in their products. For instance- the use of radial tires had become immensely popular in the U.S. and are still widely adopted. With a multitude of benefits such as flexible sidewalls and reduced fuel consumption, the demand for radial tires in the U.S. is not likely to witness a drastic fall anytime soon, propelling growth of automotive tire market. Moreover, the integration of ‘Contact Area Information Sensing (CIAS)’, which is attaching a sensor on the inner wall of the tire for monitoring interaction of the tire with road’s surface, is considered as one of the prominent innovations in automotive tire market. In addition to this, self-inflating tires are one of the widely-accepted types in the automotive tire market, which make use of sensors to measure tire pressure.

About the Report

FactMR compiled a report on automotive tire market for the forecast period of 2017 to 2022. This report on automotive tire market investigates and foresees the industry at both global and regional level. A detailed prognosis of automotive tire market has been addressed, based on revenue (US$ Mn) and volume (Million Units) from 2017 to 2022. The study on automotive tire market sketches the influence of all the factors which might either contract or expand the scope of automotive tire market across both regional and global frontiers. The report also puts spotlight on opportunities in the automotive tire market that matter from a manufacturer’s perspective.

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Market Definition

An automotive tire is a rubber ring mounted on the rim of a wheel. Automotive tires play a crucial role in providing traction to vehicles operating on roads and also are crucial for reducing road shocks. The primary objective of automotive tires is to balance load of vehicles and curtail friction for optimal utilization of a vehicle’s torque.

Competitive Landscape

The report on automotive tire market includes an end-to-end analysis of various key players indulged in the operations related to automotive tires. Some of the major players listed in the automotive tire market report include Bridgestone Corporation, Continental AG, Michelin North America Inc., The Goodyear Tyre & Rubber Company, Sumitomo Rubber Industries Ltd., The Yokohama Rubber Co., Ltd., Pirelli & C. S.p.A, Madras Rubber Factory Limited, Apollo Tyres Ltd, and Cheng Shin Rubber Industry Co.

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About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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