PUBLISHER: Value Market Research | PRODUCT CODE: 1547345
PUBLISHER: Value Market Research | PRODUCT CODE: 1547345
The global demand for Rubber Tire Market is presumed to reach the market size of nearly USD 276.33 Billion by 2032 from USD 175.7 Billion in 2023 with a CAGR of 5.16% under the study period 2024-2032.
A tire refers to a ring-shaped component that surrounds a wheel's rim to move a load of vehicles from the axle through the wheel to the ground and to offer traction at the surface over which the entire wheel travels. Tires contain several rubber compounds and other materials due to the need for safety performance in the face of a broad range of demanding conditions. The modern pneumatic tires materials include fabric, synthetic rubber, natural fabric, natural rubber, and wire, with carbon black and several other chemical compounds. Natural rubber offers particular performance characteristics to tires. It is particularly good for tear and fatigue crack resistance.
The escalating demand for utility vehicles is the major factor driving the rubber tire market. The r Increase in awareness among consumers regarding vehicle maintenance, adoption of tire monitoring systems by fleet managers, and expansion of retailer and dealers network in rural areas stimulate high market demand in the coming years. The economic expansion, development of road infrastructure, and increase in the number of cross-border and long haul freight transport are positively impacting the market growth. Moreover, the rapid urbanization across the globe and increase in construction activities where heavy commercial and construction vehicles are likely to create growth opportunities for key players of the rubber tire market in the coming years.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of Rubber Tire. The growth and trends of Rubber Tire industry provide a holistic approach to this study.
This section of the Rubber Tire market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Rubber Tire market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Rubber Tire market include Apollo Tyres Ltd., Bridgestone Corporation, CEAT Ltd., China National Tire & Rubber Co. Ltd, Continental AG, Cooper Tire & Rubber Company, Giti Tire, Hangzhou Zhongce Rubber Co. Ltd., Hankook Tire, Kumho Tire Co. Inc., Michelin, Nexen Tire Corporation, Nokian Tyres Plc, Pirelli & C. S.P.A., Qingdao Fullrun Tyre Corp. Ltd., Sumitomo Rubber Industries Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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