Uploaded on Oct 16, 2020
The global automotive tire market was valued at USD 110.94 billion and is anticipated to reach USD 152.20 billion in 2027 growing at a CAGR of 3.7% over the forecast period. Read more at https://bit.ly/2Iv7oU7.
Global Automotive Tire Market Trends, Growth Forecast 2020-2027
Global Automotive Tire
Market Trends, Growth
Forecast 2020-2027
Segments: 2
Automotive Tire Market Size, Share & Trends
Analysis By Type (Tube, Tubeless), Design
(Radial, Bias), Vehicle Type (Passenger Car,
Light Commercial Vehicle, Heavy Commercial
Vehicle), By Region Estimates & Forecast
2020-2027
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Statistics: 3
The global automotive tire market was
valued at USD 110.94 billion and is
anticipated to reach USD 152.20 billion in
2027 growing at a CAGR of 3.7% over the
forecast period.
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Reserved
Drivers: 4
Increasing vehicle sales and production
will lead to a boost in the automotive tire
market in the future. And there are many
advancements that are taking place in the
automotive tire market. One of the
advances is ‘nanotechnology’. This
technology is aimed at reducing the rate
of wear and tear of tires.
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Region: 5
The Asia Pacific is majorly holding market
share and rapidly growing domestic
consumption, availability of cheap labor,
large population, and evolving standards,
these are some reasons due to which market
share is increasing in the region.
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