Bharat Book Bureau Provides the Trending Market Research Report on “Global Tire Market Outlook, 2026“ under Automotive Market Research Reports Category. The report offers a collection of superior market research,market analysis, competitive intelligence and market reports.
The Global Tire Market is an allied market to the rapidly shifting automotive market. As vehicles are getting more efficient, infrastructure is getting smoother, the tire market finds itself a suitable pedestal to grow upon. As per the research conducted by Bonafide Research, under the title – Global Tire Market Outlook, 2026, the global tire market is evaluated to be selling more than 2000 Million tires annually as of 2020. The tire market globally is expected to grow to more than 2700 Million tires by the year 2026.
To assess and study the tire market globally, the global tire market has been segmented appropriately aiding in a comprehensive view of the developing and already developed global scenarios. The global tire market has been segmented on the basis of vehicle types they are used on which include vehicles such as passenger cars, light commercial vehicles, medium and heavy vehicles, 2 wheeler vehicles, 3 wheelers, and other vehicles including bicycles. Themarket is also categorized based on end-use demand which includes demand for replacement tires and OEM demand for tires. On the basis of design types, the tire market is segmented as radial tires and bias-ply tires. In order to have a broader understanding of the global landscape of the tire market, further segmentation has been made based on regions, countries, companies, and the sales channels through which the product is made available to the distributors and customers.
Globally it has been observed that the different regions have different share patterns depending on the stage of the economy and the penetration of the automotive market and its allied tire market. In highly developed regions in the globe, such as North America and Europe, where vehicle per 1000 inhabitants metric stands relatively higher than the rest of the world. In regions such as the Asia Pacific, which has become the hub for automotive manufacturing and assembly due to highly competitive labor rates, the productions, as well as sales of tires, are growing rapidly. Latin America on the other hand is a major avenue for tire production and assembly of automotive in the western hemisphere. However, the Latin American markets are a little far from the Asian Pacific market which is poised with suitable demographics and economic outlook trends. However, a common characteristic of both these regional markets is that the global trend of using radial tires is still penetrating these markets. Growing economic metrics like GDP per capita, personal disposable income in these regions suggest that their spending habits on the use of personal vehicles will be different from that in developed countries. Therefore the vehicle tire consumptions on the basis of vehicle types also show slightly inconsistent patterns in some of the segments. However, irrespective of that, it has been observed that globally, passenger cars are the biggest driver for the global tire market contributing to roughly 60% of the market size in value terms. However, due to the greater scope of penetration 3 wheelers and other vehicle tires were the fastest growing tire segment and are expected to continue a strong growth momentum by growing at a CAGR of more than 9% during the forecast period of 2021 to 2026.
CONSIDERED IN THE REPORT
• Geography: Global
• Base Year: 2020
• Historical year: 2015
• Forecasted Year: 2026
• North America
• Asia Pacific
• Latin America
• Middle East
ASPECTS COVERED IN THE REPORT
• Market Size by Value (2015-2026F)
• Market Size by Volume (2015-2026F)
• Market Share by Company
• Market Share by Vehicle Type
• Market Share by End Use
• Market Share by Design
• Market Share by Sales Channel
• Market Share by Region
• Market Share by Country
THIS REPORT WOULD HELP YOU ANSWER THE FOLLOWING QUESTIONS:
• What is the size of the global tire market?
• How much do different vehicle types contribute to the global tire market?
• What are the growth trends of radial tires and bias ply tires globally?
• To what extend did Covid-19 pandemic impact the OEM and replacement demand of tires globally?
• What are the drivers, development and key challenges in the global tire market?
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