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(I-AutoNewsWire.com, November 10, 2018 ) Passenger car vehicle segment is primarily expected to drive the demand for automotive tire over the forecast period
Latest market study on “Automotive Tire Market to 2025 by Tire Type (Bias and Radial); Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle); and Distribution Channel (OEMs and Aftermarket) - Global Analysis and Forecast”, the automotive tire market is estimated to reach US$ 306.44 Bn by 2025 from US$ 233.15 Bn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Pertaining to the fact of acceleration manufacturing, construction, logistics, mining, education, and hospitality among others plays a significant role in the growth of automotive industry. These industries are driven by increasing population which is further expected to boost the demand for automotive and related accessories. With a rise in disposable income, and standard of living, demand for automotive has substantially raised which has increased the production of automotive.
The global automotive tire market is segmented on the basis of vehicle type which is fragmented into passenger cars, light commercial, and heavy commercial vehicles. The passenger car is leading the market for automotive tire followed by heavy commercial vehicle and light commercial vehicle. In a current scenario, passenger cars is having a high market share owing to the fact of high usage among the individuals and other users. However, light and heavy commercial vehicles is growing at a highest CAGR and is anticipated to dominate the market by 2025. In addition to this, with an increase in the disposable income, demand for passenger cars is rising due to which passenger car holds a dominant position in the market.
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Automotive tire market operates in a highly fragmented industry with large number of global players capturing market place. Key players in the market are collaborating with other providers of automotive tire to gain high market share. Some of the key players operating in the automotive tire market includes Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Michelin, Pirelli & C. S.P.A, Dunlop India Limited, Yokohama Rubber Co. Ltd., Apollo Tires Ltd., MRF Tires, and Hankook Tire among others.
The report segments the global automotive tire market as follows:
Global Automotive Tire Market - By Tire Type Bias Radial
Global Automotive Tire Market - By Vehicle Type Passenger Car Light Commercial Vehicle Heavy Commercial Vehicle
Global Automotive Tire Market - By Distribution Channel OEMs Aftermarket
Global Automotive Tire Market - By Geography
North America U.S. Canada Mexico
Europe France Germany Italy Spain U.K. Rest of Europe
Direct Purchase a Copy of this study at http://bit.ly/2DbvVbY
Asia Pacific (APAC) China India Japan Rest of APAC
Middle East and Africa (MEA) South Africa Rest of MEA
South America (SAM) Brazil Rest of SAM
The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com
Source: EmailWire.com
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