Automotive Tire Market 2021

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Transparency Market

Research

Automotive Tire Market to Expand at CAGR of 6.8% till

2021

Published Date

2015-06-25

90 Page Report

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Report Title

Automotive Tire Market - Global Industry Analysis 2021 |

Transparency Market Research

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Tire Market

REPORT DESCRIPTION

Automotive Tire Market

Transparency Market Research (TMR) has recently published a research study on the global

automotive tire market, estimating the market to expand at a CAGR of 6.80% during the period

from 2015 to 2021 and reach a market value of 298.1 bn by the end of the forecast period.The

research report, titled “Automotive Tire Market - Global Industry Analysis, Size, Share,

Growth, Trends and Forecast 2015 - 2021’, states that worldwide automotive tire market

stood at US$188.3 bn in 2014.

The automotive segment is one of the booming sectors presently and it is expected to grow

significantly in the next few years prioritizing more on customer safety and comfort. With the

gradual decrease of recession, the automotive sector has witnessed a strong positive growth.

The tire industry is also been noticing a steady improvement in the automotive sector.

Based on the type of tire safety systems, the market is segmented into two types: radial tire and

bias tire. Due to advancements in technology, the market for radial tires is growing significantly.

Based on applications of tire, the market is segmented in passenger cars, light commercial

vehicle, heavy commercial vehicle and two wheelers.

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Growth of the automotive sector in emerging markets will affect the global automotive tire

market positively and the industry is...