With the introduction of more efficient vehicles and a smoother infrastructure, the global tire market is experiencing rapid growth & changes. The rise in vehicle production in developing countries and increased competition among tire manufacturers are the prime aspects projected to drive the market during 2021-26. Besides, since modern farming methods are becoming more popular nowadays, there’s an increasing emphasis on mechanizing agriculture activities, which would result in a boom for the global tire market in the agriculture sector.
In their recent research report, MarkNtel Advisors has predicted that the Tire Market would witness around 3.85 percentage CAGR during 2021-2026. The base year considered in the research study is 2026. It comprises a strategic analysis of the Tire Market & its expansion in the future while considering the impact of the Covid-19 pandemic on it.
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Major Benefits of the Research Report:
-Get accurate & reliable insights verified by research experts into the Tire Market size, share, forecasts, & dynamics.
-Identify key trends, drivers, challenges, growth potential, opportunities, and the short & long term Covid-19 impact analysis of the Tire Market.
-Know the Market performance in the past four years and in the coming five years.
-Insights into the competitive position of the leading players in the Tire Market, along with their respective shares.
-Insights into the supply chain management, various mergers & acquisitions, company evaluation, & geographical analysis of the Tire Market.
Covid-19 Impact Analysis Of The Tire Market:
In 2020, the impact of the Covid-19 pandemic was catastrophic for most businesses worldwide. Stringent movement restrictions & lockdowns imposed led to cross-border trade limitations, supply-demand gaps, etc., which, as a result, compelled the companies operating in the TIRE Market to change their working tactics & priorities.
This section of the research report covers insights into the various shifts in the industry due to the pandemic. While constantly interacting with the industry experts and monitoring the changing market dynamics, our research analysts aim to offer in-depth & reliable information to readers/stakeholders to help them adopt strategic actions for overcoming any such situation in the forecast years.
This section of the research report cites a detailed size & volume estimation of the Tire Market during 2021-26 on the basis of various segments & sub-segments mentioned below. It would help our readers discover major aspects attributing to the market growth across these segments in different geographies.
Market Segment in to, By Type of Vehicle
-Light Commercial Vehicle (LCV)
-Medium & High Commercial Vehicle (MHCV)
-Off the Road Vehicle (OTR)
Market Segment in to, By Product
Market Segment in to, By Type of Tire
Market Segment in to, By Season
Market Segment in to, By Rim Diameter
– 12.1” to 15”
– 15.1” to 18”
– 18” to 22.5”
– 22.6” to 26”
– 26.1” to 35”
– 35.1” to 47”
– Above 47”
Market Segment in to, By Price Category
Market Segment in to, By Region
-Russia & CIS
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Know the leading companies operating in the Tire Market. The companies profiled in the research report include large enterprises with around 50-60% market share; medium-sized with nearly 30-40% share; and small firms having about 10-20% share in the industry. This competitive analysis is based mainly on parameters, such as the product portfolio, revenues, and research & development activities conducted by the following leaders are Bridgestone, Michelin, Goodyear, Continental, Pirelli, Sumitomo, Hankook, Yokohama, Cheng Shin, Zhongce Rubber, GITI, Cooper, Toyo, Kumho, Apollo, CEAT, & MRF.
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Key Questions Answered in the Research Study:
- What is the estimated size of The Tire Market during the forecast period 2021-26?
- What are the major drivers, challenges, and opportunities of the Tire Market?
- What are the top companies & stakeholders involved in the Tire Market?
- What are the emerging trends in the Tire Market that would impact its growth over the forecast years?
- What strategies did the leading players adopt amidst the Covid-19 pandemic to sustain the highly competitive Tire Market?
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