The global automotive tire aftermarket, tire replacement market is set to surge with a 4.53% CAGR during the estimated period, 2022-2030

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Nov 16, 2022, 10:20 ET

NEW YORK, Nov. 16, 2022 /PRNewswire/ --

KEY FINDINGS
The global automotive tire aftermarket, tire replacement market is set to surge with a 4.53% CAGR during the estimated period, 2022-2030. Stringent regulations regarding tire labeling and surging requirements for energy-efficient tires drive global market growth.

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MARKET INSIGHTS
Tire aftermarket, tire replacement provides all-around performance upgrades on vehicles for which they are rated and sized.Several strict laws for automobiles and vehicle manufacturers are being enforced by governments worldwide.

Therefore, tire manufacturers have adopted various environmentally friendly raw materials without sacrificing lighter tires, resulting in greater fuel economy and consumption as well as much lower vehicle weight.
The major companies in the automotive tire aftermarket are continually developing new technology in manufacturing green tires to meet customersâ€™ requirements and strict regulatory guidelines. As a result, the increased demand for green tires will drive the expansion of the automobile tire aftermarket globally.
In addition, Automotive tire manufacturers are concentrating on producing airless tires for passenger and commercial vehicles.Minimal-pressure tires offer zero downtime, no loss of productivity for commercial vehicles, and improved vehicle safety and performance.

These innovations are expected to drive the global automotive tire aftermarket, tire replacement market.

REGIONAL INSIGHTS
The global tire aftermarket, tire replacement market growth assessment includes the evaluation of Europe, Asia-Pacific, North America, and Rest of World. Asia-Pacific is anticipated to be the leading region during the forecast period due to the presence of leading manufacturing companies and advancing technologies in the automotive industry.

COMPETITIVE INSIGHTS
The global tire aftermarket, tire replacement market is highly competitive, with numerous global players investing heavily in green technology adoption in tire manufacturing and launching multiple products yearly.
Some of the key companies in the market include Michelin, MRF, JK Tyre, Pirelli & C SpA, NEXEN TIRE Corporation, Maxxis, etc.

Our report offerings include:
â€¢ Explore key findings of the overall market
â€¢ Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
â€¢ Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
â€¢ Market Segmentation caters to a thorough assessment of key segments with their market estimations
â€¢ Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
â€¢ Key analytics: Porterâ€™s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
â€¢ Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
â€¢ Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Companies mentioned
1. APOLLO TYRES
2. BRIDGESTONE CORPORATION
3. CEAT LIMITED
4. CONTINENTAL AG
5. GOODYEAR TIRES
6. HANKOOK TIRE & TECHNOLOGY CO LTD
7. JK TYRE
8. MAXXIS
9. MICHELIN
10. MRF
11. NEXEN TIRE CORPORATION
12. PIRELLI & C SPA
13. SUMITOMO RUBBER INDUSTRIES LTD
14. THE YOKOHAMA RUBBER COMPANY
15. TOYO TIRES

Read the full report: https://www.reportlinker.com/p06362951/?utm_source=PRN

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