A tire refers to a ring shaped component that surrounds a wheel rim that transfers a vehicles' load from the axle via the wheel to the ground. It provides traction the surface over which the wheel travels. Most of the tires are pneumatically inflated structures that helps in providing flexible cushion for absorbing shocks as tires usually run on rough surfaces. The tires also provide footprint that is designed to match the vehicles' weight with the bearing strength of the surface. The materials used in tires are synthetic rubber, natural rubber, fabric and wires.
MARKET DYNAMICS
The rising demand from the OEMs on the back of incrementing production of vehicles drives the market for tires globally. Also, the shifting demand towards better lifespan, lightweight and environmental friendly tires drive the growth of the market. However, the increase vulnerability to abuse when overloaded or under-inflated and poor transport handling restricts the fruitful development of the tires market. An upsurge in the focus of manufactures to produce better quality tires and the expanding automotive industry are expected to bolster well the market growth of tires in the near future.
MARKET SCOPE
The "Global Tires Market Analysis to 2028" is a specialized and in-depth study of the Chemicals and Materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the tires market with detailed market segmentation by product type, vehicle type, design and geography. The global tires market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading tires market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global tires market is segmented on the basis of product type, vehicle type and design. On the basis of product type, the tires market is segmented into racing tires, truck tires, aircraft tires and others. As per vehicle type the market is broken into passenger cars, commercial vehicles, OTR vehicles and others. The market on the basis of design is divided into radial tire and bias tire.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global tires market based on various segments. It also provides market size and forecast estimates from the year 2020to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The tires market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the tires market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the tires market in these regions.
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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global tires market based on various segments. It also provides market size and forecast estimates from the year 2020to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The tires market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the tires market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the tires market in these regions.
MARKET PLAYERS
The reports cover key developments in the tires market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from tires market are anticipated to lucrative growth opportunities in the future with the rising demand for tires market in the global market. Below mentioned is the list of few companies engaged in the tires market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the tires market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Bridgestone Corporation
- Continental AG
- Goodyear Tire and Rubber Company
- Hankook Tire and Technology Co.,Ltd.
- Kumho Tire Co., Inc.
- Michelin
- Pirelli and C. S.p.A
- Sumitomo Rubber Industries, Ltd.
- Toyo Tire U.S.A. Corp
- Yokohama
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Tires Market - By Product Type
1.3.2Tires Market - By Vehicle Type
1.3.3Tires Market - By Design
1.3.4Tires Market - By Region
1.3.4.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.TIRES MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.EXPERT OPINIONS
5.TIRES MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.TIRES MARKET - GLOBAL MARKET ANALYSIS
6.1.TIRES - GLOBAL MARKET OVERVIEW
6.2.TIRES - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.TIRES MARKET - REVENUE AND FORECASTS TO 2028 â" PRODUCT TYPE
7.1.OVERVIEW
7.2.PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3.RACING TIRES
7.3.1.Overview
7.3.2.Racing Tires Market Forecast and Analysis
7.4.TRUCK TIRES
7.4.1.Overview
7.4.2.Truck Tires Market Forecast and Analysis
7.5.AIRCRAFT TIRES
7.5.1.Overview
7.5.2.Aircraft Tires Market Forecast and Analysis
7.6.OTHERS
7.6.1.Overview
7.6.2.Others Market Forecast and Analysis
8.TIRES MARKET - REVENUE AND FORECASTS TO 2028 â" VEHICLE TYPE
8.1.OVERVIEW
8.2.VEHICLE TYPE MARKET FORECASTS AND ANALYSIS
8.3.PASSENGER CARS
8.3.1.Overview
8.3.2.Passenger Cars Market Forecast and Analysis
8.4.COMMERCIAL VEHICLES
8.4.1.Overview
8.4.2.Commercial Vehicles Market Forecast and Analysis
8.5.OTR VEHICLES
8.5.1.Overview
8.5.2.OTR Vehicles Market Forecast and Analysis
8.6.OTHERS
8.6.1.Overview
8.6.2.Others Market Forecast and Analysis
9.TIRES MARKET - REVENUE AND FORECASTS TO 2028 â" DESIGN
9.1.OVERVIEW
9.2.DESIGN MARKET FORECASTS AND ANALYSIS
9.3.RADIAL TIRE
9.3.1.Overview
9.3.2.Radial Tire Market Forecast and Analysis
9.4.BIAS TIRE
9.4.1.Overview
9.4.2.Bias Tire Market Forecast and Analysis
10.TIRES MARKET REVENUE AND FORECASTS TO 2028 â" GEOGRAPHICAL ANALYSIS
10.1.NORTH AMERICA
10.1.1North America Tires Market Overview
10.1.2North America Tires Market Forecasts and Analysis
10.1.3North America Tires Market Forecasts and Analysis - By Product Type
10.1.4North America Tires Market Forecasts and Analysis - By Vehicle Type
10.1.5North America Tires Market Forecasts and Analysis - By Design
10.1.6North America Tires Market Forecasts and Analysis - By Countries
10.1.6.1United States Tires Market
10.1.6.1.1United States Tires Market by Product Type
10.1.6.1.2United States Tires Market by Vehicle Type
10.1.6.1.3United States Tires Market by Design
10.1.6.2Canada Tires Market
10.1.6.2.1Canada Tires Market by Product Type
10.1.6.2.2Canada Tires Market by Vehicle Type
10.1.6.2.3Canada Tires Market by Design
10.1.6.3Mexico Tires Market
10.1.6.3.1Mexico Tires Market by Product Type
10.1.6.3.2Mexico Tires Market by Vehicle Type
10.1.6.3.3Mexico Tires Market by Design
10.2.EUROPE
10.2.1Europe Tires Market Overview
10.2.2Europe Tires Market Forecasts and Analysis
10.2.3Europe Tires Market Forecasts and Analysis - By Product Type
10.2.4Europe Tires Market Forecasts and Analysis - By Vehicle Type
10.2.5Europe Tires Market Forecasts and Analysis - By Design
10.2.6Europe Tires Market Forecasts and Analysis - By Countries
10.2.6.1Germany Tires Market
10.2.6.1.1Germany Tires Market by Product Type
10.2.6.1.2Germany Tires Market by Vehicle Type
10.2.6.1.3Germany Tires Market by Design
10.2.6.2France Tires Market
10.2.6.2.1France Tires Market by Product Type
10.2.6.2.2France Tires Market by Vehicle Type
10.2.6.2.3France Tires Market by Design
10.2.6.3Italy Tires Market
10.2.6.3.1Italy Tires Market by Product Type
10.2.6.3.2Italy Tires Market by Vehicle Type
10.2.6.3.3Italy Tires Market by Design
10.2.6.4United Kingdom Tires Market
10.2.6.4.1United Kingdom Tires Market by Product Type
10.2.6.4.2United Kingdom Tires Market by Vehicle Type
10.2.6.4.3United Kingdom Tires Market by Design
10.2.6.5Russia Tires Market
10.2.6.5.1Russia Tires Market by Product Type
10.2.6.5.2Russia Tires Market by Vehicle Type
10.2.6.5.3Russia Tires Market by Design
10.2.6.6Rest of Europe Tires Market
10.2.6.6.1Rest of Europe Tires Market by Product Type
10.2.6.6.2Rest of Europe Tires Market by Vehicle Type
10.2.6.6.3Rest of Europe Tires Market by Design
10.3.ASIA-PACIFIC
10.3.1Asia-Pacific Tires Market Overview
10.3.2Asia-Pacific Tires Market Forecasts and Analysis
10.3.3Asia-Pacific Tires Market Forecasts and Analysis - By Product Type
10.3.4Asia-Pacific Tires Market Forecasts and Analysis - By Vehicle Type
10.3.5Asia-Pacific Tires Market Forecasts and Analysis - By Design
10.3.6Asia-Pacific Tires Market Forecasts and Analysis - By Countries
10.3.6.1Australia Tires Market
10.3.6.1.1Australia Tires Market by Product Type
10.3.6.1.2Australia Tires Market by Vehicle Type
10.3.6.1.3Australia Tires Market by Design
10.3.6.2China Tires Market
10.3.6.2.1China Tires Market by Product Type
10.3.6.2.2China Tires Market by Vehicle Type
10.3.6.2.3China Tires Market by Design
10.3.6.3India Tires Market
10.3.6.3.1India Tires Market by Product Type
10.3.6.3.2India Tires Market by Vehicle Type
10.3.6.3.3India Tires Market by Design
10.3.6.4Japan Tires Market
10.3.6.4.1Japan Tires Market by Product Type
10.3.6.4.2Japan Tires Market by Vehicle Type
10.3.6.4.3Japan Tires Market by Design
10.3.6.5South Korea Tires Market
10.3.6.5.1South Korea Tires Market by Product Type
10.3.6.5.2South Korea Tires Market by Vehicle Type
10.3.6.5.3South Korea Tires Market by Design
10.3.6.6Rest of Asia-Pacific Tires Market
10.3.6.6.1Rest of Asia-Pacific Tires Market by Product Type
10.3.6.6.2Rest of Asia-Pacific Tires Market by Vehicle Type
10.3.6.6.3Rest of Asia-Pacific Tires Market by Design
10.4.MIDDLE EAST AND AFRICA
10.4.1Middle East and Africa Tires Market Overview
10.4.2Middle East and Africa Tires Market Forecasts and Analysis
10.4.3Middle East and Africa Tires Market Forecasts and Analysis - By Product Type
10.4.4Middle East and Africa Tires Market Forecasts and Analysis - By Vehicle Type
10.4.5Middle East and Africa Tires Market Forecasts and Analysis - By Design
10.4.6Middle East and Africa Tires Market Forecasts and Analysis - By Countries
10.4.6.1South Africa Tires Market
10.4.6.1.1South Africa Tires Market by Product Type
10.4.6.1.2South Africa Tires Market by Vehicle Type
10.4.6.1.3South Africa Tires Market by Design
10.4.6.2Saudi Arabia Tires Market
10.4.6.2.1Saudi Arabia Tires Market by Product Type
10.4.6.2.2Saudi Arabia Tires Market by Vehicle Type
10.4.6.2.3Saudi Arabia Tires Market by Design
10.4.6.3U.A.E Tires Market
10.4.6.3.1U.A.E Tires Market by Product Type
10.4.6.3.2U.A.E Tires Market by Vehicle Type
10.4.6.3.3U.A.E Tires Market by Design
10.4.6.4Rest of Middle East and Africa Tires Market
10.4.6.4.1Rest of Middle East and Africa Tires Market by Product Type
10.4.6.4.2Rest of Middle East and Africa Tires Market by Vehicle Type
10.4.6.4.3Rest of Middle East and Africa Tires Market by Design
10.5.SOUTH AND CENTRAL AMERICA
10.5.1South and Central America Tires Market Overview
10.5.2South and Central America Tires Market Forecasts and Analysis
10.5.3South and Central America Tires Market Forecasts and Analysis - By Product Type
10.5.4South and Central America Tires Market Forecasts and Analysis - By Vehicle Type
10.5.5South and Central America Tires Market Forecasts and Analysis - By Design
10.5.6South and Central America Tires Market Forecasts and Analysis - By Countries
10.5.6.1Brazil Tires Market
10.5.6.1.1Brazil Tires Market by Product Type
10.5.6.1.2Brazil Tires Market by Vehicle Type
10.5.6.1.3Brazil Tires Market by Design
10.5.6.2Argentina Tires Market
10.5.6.2.1Argentina Tires Market by Product Type
10.5.6.2.2Argentina Tires Market by Vehicle Type
10.5.6.2.3Argentina Tires Market by Design
10.5.6.3Rest of South and Central America Tires Market
10.5.6.3.1Rest of South and Central America Tires Market by Product Type
10.5.6.3.2Rest of South and Central America Tires Market by Vehicle Type
10.5.6.3.3Rest of South and Central America Tires Market by Design
11.INDUSTRY LANDSCAPE
11.1.MERGERS AND ACQUISITIONS
11.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
11.3.NEW PRODUCT LAUNCHES
11.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
12.TIRES MARKET, KEY COMPANY PROFILES
12.1.BRIDGESTONE CORPORATION
12.1.1.Key Facts
12.1.2.Business Description
12.1.3.Products and Services
12.1.4.Financial Overview
12.1.5.SWOT Analysis
12.1.6.Key Developments
12.2.CONTINENTAL AG
12.2.1.Key Facts
12.2.2.Business Description
12.2.3.Products and Services
12.2.4.Financial Overview
12.2.5.SWOT Analysis
12.2.6.Key Developments
12.3.GOODYEAR TIRE AND RUBBER COMPANY
12.3.1.Key Facts
12.3.2.Business Description
12.3.3.Products and Services
12.3.4.Financial Overview
12.3.5.SWOT Analysis
12.3.6.Key Developments
12.4.HANKOOK TIRE AND TECHNOLOGY CO.,LTD.
12.4.1.Key Facts
12.4.2.Business Description
12.4.3.Products and Services
12.4.4.Financial Overview
12.4.5.SWOT Analysis
12.4.6.Key Developments
12.5.KUMHO TIRE CO., INC.
12.5.1.Key Facts
12.5.2.Business Description
12.5.3.Products and Services
12.5.4.Financial Overview
12.5.5.SWOT Analysis
12.5.6.Key Developments
12.6.MICHELIN
12.6.1.Key Facts
12.6.2.Business Description
12.6.3.Products and Services
12.6.4.Financial Overview
12.6.5.SWOT Analysis
12.6.6.Key Developments
12.7.PIRELLI AND C. S.P.A
12.7.1.Key Facts
12.7.2.Business Description
12.7.3.Products and Services
12.7.4.Financial Overview
12.7.5.SWOT Analysis
12.7.6.Key Developments
12.8.SUMITOMO RUBBER INDUSTRIES, LTD.
12.8.1.Key Facts
12.8.2.Business Description
12.8.3.Products and Services
12.8.4.Financial Overview
12.8.5.SWOT Analysis
12.8.6.Key Developments
12.9.TOYO TIRE U.S.A. CORP
12.9.1.Key Facts
12.9.2.Business Description
12.9.3.Products and Services
12.9.4.Financial Overview
12.9.5.SWOT Analysis
12.9.6.Key Developments
12.10.YOKOHAMA
12.10.1.Key Facts
12.10.2.Business Description
12.10.3.Products and Services
12.10.4.Financial Overview
12.10.5.SWOT Analysis
12.10.6.Key Developments
13.APPENDIX
13.1.ABOUT THE INSIGHT PARTNERS
13.2.GLOSSARY OF TERMS
1. Bridgestone Corporation
2. Continental AG
3. Goodyear Tire and Rubber Company
4. Hankook Tire and Technology Co.,Ltd.
5. Kumho Tire Co., Inc.
6. Michelin
7. Pirelli and C. S.p.A
8. Sumitomo Rubber Industries, Ltd.
9. Toyo Tire U.S.A. Corp
10. Yokohama
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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