The latest market report published by Constancy Researchers “Global Passenger Vehicles Tires Market: Growth, Future Prospects, COVID-19 Impact Analysis, Drivers, Restraints, Trends, Opportunities, Investment Landscape, and Competitive Analysis, 2017 – 2028”
Global Passenger Vehicles Tires Market: Overview
The global passenger vehicles tires market was valued at US$ XX Billion in 2020 and is estimated to grow at a CAGR of 4.0% during the forecast period. The global passenger vehicles tires market is anticipated to witness substantial growth in the years to come due to the growing demand for passenger vehicles along with the increased awareness for better safety. The increased passenger vehicles production coupled with the increased demand for electric vehicles across the globe are some other key factors for the growth of the global passenger vehicles tires market during the forecast period. Moreover, the emergence of new technologies coupled with growing partnership between tire manufacturers and automotive manufacturers are some of the key opportunities for the global passenger vehicles tires market over the upcoming years. Besides, the volatile raw material prices is one of key factors estimated to hamper the global passenger vehicles tires market growth in the years to come.
Global Passenger Vehicles Tires Market: COVID-19 Impact
The impact of COVID-19 has been considered in the global passenger vehicles tires market report published by Constancy Researchers Private Limited. According to Constancy Researchers Private Limited COVID-19 analysis on the global passenger vehicles tires market, the demand for passenger vehicles tires has decreased due to haltin the manufacturing industry worldwide along with the decreased sales of passenger vehicles during the COVID-19 period.
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Global Passenger Vehicles Tires Market: Report Highlights
- Based on the rim size, the less than 15 Inches category had a major share in the global passenger vehicles tires market and estimated to continue its dominance over the forecast period.
- On the basis of sales channel, in the passenger vehicles tires market, the original equipment manufacturers (OEMs) category had a major share and is estimated to witness highest growth over the upcoming years due to the increased partnership among tire manufacturers and automotive manufacturers.
- Based on the regional analysis, Asia Pacific dominated the market in 2020 and is projected to grow at the highest rate during the forecast period. This is majorly due to the rising technological adoption in the automotive manufacturing along with the increased passenger vehicles production in the region. The low manufacturing cost along with the growing demand for personal vehicles in the emerging economies are some other key factors for the growth of the Asia pacific passenger vehicles tires market.
- Mergers & acquisitions, new product launches, strategic partnerships, and collaborations among key players are estimated to be the key strategies in the global passenger vehicles tires market.
- As per the research by Constancy Researchers Private Limited, the global passenger vehicles tires market is highly fragmented in nature owing to the presence of a large number of players at the global, regional, and country-level.
List of Key Players of Global Passenger Vehicles Tires Market
- The Bridgestone Group
- Continental Group
- Goodyear Tire And Rubber Company
- Michelin Group
- Pirelli & C. S.P.A
- Sumitomo Rubber Industries, Ltd.
- Hankook Tire Co. Ltd.
- Yokohama Rubber Co., Ltd.
- Cooper Tire & Rubber Company
- Toyo Tire & Rubber Co. Ltd
- Coda Development
- Kumho Tire
- Nokian Tyres Plc
- Apollo Tires
- Mrf Tyres
- Jk Tyre & Industries Ltd.
- Ceat Ltd.
- Maxxis International
- Zhongce Rubber Group Co., Ltd.
- Others
Global Passenger Vehicles Tires Market: Segmentation
Constancy Researchers Private Limited has segmented the global passenger vehicles tires market on the basis of type, tire size, design, tire assembly, aspect ratio, season, sales channel, distribution channel, vehicle class, and regional analysis-
Global Passenger Vehicles Tires Market: By Type
- Fuel Efficient Tires
- High Performance Tires
- All-terrain/Off-road Tires
- Run-flat Tires
- Trailer Tires
Global Passenger Vehicles Tires Market: By Tire Size
- Less than 15 Inches
- 15-17 Inches
- 18-22 Inches
- Above 22 Inches
Global Passenger Vehicles Tires Market: By Design
- Bias Ply Tires
- Radial Ply Tires
Global Passenger Vehicles Tires Market: By Tire Assembly
- Tubeless Tires
- Tubed Tires
Global Passenger Vehicles Tires Market: By Aspect Ratio
- 30-45
- 50-70
- 75-85
Global Passenger Vehicles Tires Market: By Season
- All Season Tires
- Winter Tires
- Summer Tires
Global Passenger Vehicles Tires Market: By Sales Channel
- Original Equipment Manufacturer (OEMs)
- Aftermarket
Global Passenger Vehicles Tires Market: By Distribution Channel
- Offline
- Online
Global Passenger Vehicles Tires Market: By Regional Analysis
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of Latin America (LATAM)
- Middle East & Africa (MEA)
- United Arab Emirates (UAE)
- Saudi Arabia
- Rest of Middle East & Africa (MEA)
