Global Tyre Market Outlook Report 2021: Annual Sales of 2000 Million Tyres will Increase to 2700 Million in Tyre Sales by 2026

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Aug 23, 2021, 11:15 ET

DUBLIN, Aug. 23, 2021 /PRNewswire/ -- The "Global Tyre Market Outlook, 2026" report has been added to ResearchAndMarkets.com's offering.

Global tyre market is evaluated to be selling more than 2000 Million tyres annually as of 2020. The tyre market globally is expected to grow to more than 2700 Million tyres by the year 2026.

The Global tyre market is an allied market to the rapidly shifting automotive market. As vehicles are getting more efficient, infrastructure is getting smoother, the tyre market finds itself a suitable pedestal to grow upon.

To assess and study the tyre market globally, the global tyre market has been segmented appropriately aiding in a comprehensive view of the developing and already developed global scenarios. The global tyre 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.

The market is also categorized based on end-use demand which includes demand for replacement tyres and OEM demand for tyres. On the basis of design types, the tyre market is segmented as radial tyres and bias-ply tyres. In order to have a broader understanding of the global landscape of the tyre 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 tyre 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 tyres, are growing rapidly. Latin America on the other hand is a major avenue for tyre 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 tyres 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 tyre 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 tyre 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 tyres were the fastest growing tyre 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.

Key Topics Covered:

1. Executive Summary

2. Report Methodology

3. Global Tyre Market Outlook
3.1. Market Size by Value
3.2. Market Size by Volume
3.3. Market Share
3.3.1. By Vehicle Type
3.3.2. By End Use
3.3.3. By Design
3.3.4. By Sales Channels
3.3.5. By Region
3.3.6. By Country
3.3.7. By Company

4. North America Tyre Market Outlook
4.1. Market Size by Value
4.2. Market Size by Volume
4.3. Market Share
4.3.1. By Vehicle Type
4.3.2. By End Use
4.3.3. By Design
4.3.4. By Sales Channels
4.3.5. By Country
4.4. US Tyre Market Outlook
4.4.1. Market Size by Value
4.4.2. Market Share
4.4.2.1. By Vehicle Type
4.4.2.2. By End Use
4.4.2.3. By Design
4.5. Canada Tyre Market Outlook
4.5.1. Market Size by Value
4.5.2. Market Share
4.5.2.1. By Vehicle Type
4.5.2.2. By End Use
4.5.2.3. By Design
4.6. Mexico Tyre Market Outlook
4.6.1. Market Size by Value
4.6.2. Market Share
4.6.2.1. By Vehicle Type
4.6.2.2. By End Use
4.6.2.3. By Design

5. Europe Tyre Market Outlook

6. Asia-Pacific Tyre Market Outlook

7. Latin America Tyre Market Outlook

8. Middle East & Africa Tyre Market Outlook

9. Market Dynamics
9.1. Key Drivers
9.2. Key Challenges

10. Market Trends and Developments

11. Company Profiles

Apollo Tyres
Bridgestone
Ceat Tyres
Continental
Cooper Tires
Giti Tire
Goodyear Tyres
Hankook Tire
JK Tyre
Kenda Rubber
Kumho Tires
Maxxis International
Michelin
MRF
Nexen Tire Corp
Nokian Tyres
Pirelli
Sailun Group Co., Ltd
Sumitomo Rubber Industries
Titan International
Toyo Tire Corporation
Triangle Tyre Co
Zhongce Rubber Group Co

For more information about this report visit https://www.researchandmarkets.com/r/h8kkiw

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SOURCE Research and Markets