Tyre Market Size, Revenue Analysis, PEST, Region & Country Forecast, 2023

Reports and Data has published a comprehensive research study on the global Tyre Market that includes latest trends, growth driving factors, recent developments, opportunities, and competitive landscape. The report is a formulated from data gathered from primary and secondary research examined and validated by industry experts and is an in-depth analysis of the market done by leveraging advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report provides a panoramic view of the market with special focus on key insights of the business sphere on regional as well as global scale and provides key statistical details including market size, market share, revenue growth rate, historic and forecast market growth estimations, and overall market dynamics. The report is streamlined with the latest economic and growth scenario owing to the COVID-19 crisis. The report explores the present and future impact of the pandemic and provides remuneration estimations post COVID-19 crisis.

The global Tire material market size was USD 78.6 Billion in 2022 and is expected to reach USD 119.86 Billion in 2032, and register a revenue CAGR of 4.8% during the forecast period. The rising demand for tires from the automobile industry is a major factor driving the market revenue growth. With the increased demand for automobiles across the globe over the past few years, the tire business has been expanding steadily. The expansion of the middle class, accelerating urbanization, and rising disposable income are some of the main drivers of the automobile industry, which in turn is increasing tire consumption.

The report further explores the key business players along with their in-depth profiling, product catalogue, and strategic business decisions. The key players studied in the report are:

BASF SE
Cabot Corporation
Lanxess AG
Solvay SA
Degussa Corporation
Zeon Chemicals LP
Bridgestone Corporation
Continental AG
Michelin Group
Pirelli & C. SpA
Goodyear Tire & Rubber Company

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The study covers latest industry information, growth opportunities, and trends. It further explains in detail the competitive landscape of the industry with regional and global analysis and profiles of each competitor. The report highlights the recent mergers and acquisitions, collaborations, joint ventures, government initiatives, product launch or brand promotion, licensing agreements, and memorandum of understandings happening in the market. The report further offers data about key competitors including their manufacturing and production capacities, product portfolio, gross profit margins, strategic expansion plans, and projects and products in pipeline.

The automotive industry has expanded significantly over the recent past with a rapid rise in technology-driven trends such as diverse mobility, electrification of transportation sectors, autonomous driving, and integration of advanced technologies such as AI, ML, and deep learning in autonomous driving systems. Increasing trend of self-driving cars across the globe, rising investment in development of sophisticated and luxurious autonomous cars, and growing shift towards electric and hybrid vehicles to curb carbon emissions are some factors expected to drive revenue growth of the market over the forecast period. Trend of micromobility, connected and shared mobility, and increasing popularity of vehicle connectivity are disrupting the automotive industry and are expected to boost sales of autonomous and advanced cars over the coming years. In addition, rapid emergence of ride sharing platforms and apps, increasing investment to develop robust electric vehicle charging stations, and rising reliance on real-time predictive analytics to inform users of incoming traffic, navigations, and quicker routes are some other factors contributing to rapid growth of the automotive industry.

Major geographical regions analysed in the report include North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report offers a country-wise and region-wise analysis to provide better understanding of the geographical expansion of the market and the current trends, demand and supply, customer trends, production and consumption trends, and import/export of each country in the region.

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Further, the report segments the Tyre market on the basis of products, applications, and end-use, among other segments and offers details about the segment expected to account for largest revenue share or rapid revenue CAGR and the key trends and factors influencing the revenue growth.

By Material Type Outlook	Natural Rubber Synthetic Rubber Carbon Black Fillers Chemicals Others
By Tire Type Outlook	Radial Tires Bias Tires Others
By Vehicle Type Outlook	Passenger Cars Commercial Vehicles Others

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