Press release
Analyzing the Impacts of 8.1% CAGR on the Automotive Tire OEM Global Market Demand Report 2024-2033
"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.
Automotive Tire OEM Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $22.58 billion In 2028 At A CAGR Of 7.1% :
The automotive tire oem market size has grown strongly in recent years. It will grow from $21.56 billion in 2023 to $23.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to global automotive production growth, regulatory standards for fuel efficiency, safety regulations, consumer preferences for performance, original equipment fitment contracts, seasonal tire demand, automotive industry innovations.
The automotive tire oem market size is expected to see strong growth in the next few years. It will grow to $31.93 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to increasing electric vehicle (ev) adoption, focus on sustainable materials, smart manufacturing processes, rise in ride-sharing services, global expansion of automotive markets. Major trends in the forecast period include integration of advanced sensor technologies, focus on tire performance and efficiency, advancements in tire materials, run-flat and self-sealing tire technologies, collaborations for tire technology innovation, smart tires and connectivity, adoption of 3d printing technology.
Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=8147&type=smp
Automotive Tire OEM Market Major Segments
The automotive tire oem market covered in this report is segmented -
1) By Type: Tube Tire, Tubless Tire
2) By Design: Radial Tire, Bias Tire
3) By Vehicle: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
Key Driver - Strategic Investments In Research And Development Fuel Growth In The Automotive Tire Oem Market
The increasing investments in research and development of automotive tires are driving the growth of the automotive tire OEM market. The tire manufacturers are conducting research and development activities for designing new tires and creating compounds to improve product performance. The automotive tire OEM will benefit from this investment by providing a more efficient and sustainable tire. For instance, in May 2022, Pirelli, an Italy-based tire manufacturer, announced an investment of $15 million over two years to create an advanced technology and digitalization center for tire manufacture at its facility in Silao, Mexico. The investment will focus on establishing the first research and development facility in Mexico, which will use tire production technologies created for future mobility, such as electric, sustainable, and connected transportation systems. Therefore, such investments will propel the automotive tire OEM market.
Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=8147&type=smp
Prominent Trend - Technological Innovations Reshaping Consumer Demand In The Automotive Tire Oem Market
Technological innovation is a key trend gaining popularity in the automotive tire OEM market. Major industry participants are focusing on developing novel technologies to shift consumer demand for advanced tires. For instance, in September 2023, Qualcomm Incorporated, a US-based semiconductor company launched Snapdragon Digital Chassis Solution. The purpose of the Snapdragon Digital Chassis is to assist intelligent and networked cars in managing the vast amount of data they gather. After a car is purchased, the Snapdragon Digital Chassis enables platforms to keep continuously updated with new features, enabling the manufacturer to develop new services and features for improved customer engagement and services-based revenue models.
Automotive Tire OEM Market Players
Major companies operating in the automotive tire oem market report are Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Pirelli & C. SpA, Hankook Tire & Technology Co. Ltd., The Yokohama Rubber Co. Ltd., Toyo Tire Corporation, Cooper Tire & Rubber Company, Kumho Tire Co. Inc., Nokian Tyres plc, Giti Tire Corporation, MRF Limited, Apollo Tyres Ltd., Cheng Shin Rubber Industry Co. Ltd., Nexen Tire Corporation, Shandong Linglong Tyre Co. Ltd., Zhongce Rubber Group Co. Ltd., Triangle Tyre Co. Ltd., Sailun Group Co. Ltd., Yokohama Rubber Co. Ltd., Qingdao Sentury Tire Co. Ltd., Goodyear Tyre & Rubber Company, Aeolus Tyre Co. Ltd., Double Coin Holdings Ltd., Continental AG, Linglong Tire Co. Ltd., Shandong Wanda Boto Tyre Co. Ltd., JK Tyre & Industries Ltd., Hebei Tianyang Rubber Co. Ltd., Gui Zhou Tyre Co. Ltd.
View The Full Report Here - https://www.thebusinessresearchcompany.com/report/automotive-tire-oem-global-market-report
Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive tire OEM market in 2023. The regions covered in the automotive tire oem market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Tire OEM Market Report Structure
3. Automotive Tire OEM Market Trends And Strategies
4. Automotive Tire OEM Market - Macro Economic Scenario
5. Automotive Tire OEM Market Size And Growth
…..
27. Automotive Tire OEM Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
Automotive Tire OEM Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $22.58 billion In 2028 At A CAGR Of 7.1% :
The automotive tire oem market size has grown strongly in recent years. It will grow from $21.56 billion in 2023 to $23.36 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to global automotive production growth, regulatory standards for fuel efficiency, safety regulations, consumer preferences for performance, original equipment fitment contracts, seasonal tire demand, automotive industry innovations.
The automotive tire oem market size is expected to see strong growth in the next few years. It will grow to $31.93 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to increasing electric vehicle (ev) adoption, focus on sustainable materials, smart manufacturing processes, rise in ride-sharing services, global expansion of automotive markets. Major trends in the forecast period include integration of advanced sensor technologies, focus on tire performance and efficiency, advancements in tire materials, run-flat and self-sealing tire technologies, collaborations for tire technology innovation, smart tires and connectivity, adoption of 3d printing technology.
Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=8147&type=smp
Automotive Tire OEM Market Major Segments
The automotive tire oem market covered in this report is segmented -
1) By Type: Tube Tire, Tubless Tire
2) By Design: Radial Tire, Bias Tire
3) By Vehicle: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
Key Driver - Strategic Investments In Research And Development Fuel Growth In The Automotive Tire Oem Market
The increasing investments in research and development of automotive tires are driving the growth of the automotive tire OEM market. The tire manufacturers are conducting research and development activities for designing new tires and creating compounds to improve product performance. The automotive tire OEM will benefit from this investment by providing a more efficient and sustainable tire. For instance, in May 2022, Pirelli, an Italy-based tire manufacturer, announced an investment of $15 million over two years to create an advanced technology and digitalization center for tire manufacture at its facility in Silao, Mexico. The investment will focus on establishing the first research and development facility in Mexico, which will use tire production technologies created for future mobility, such as electric, sustainable, and connected transportation systems. Therefore, such investments will propel the automotive tire OEM market.
Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=8147&type=smp
Prominent Trend - Technological Innovations Reshaping Consumer Demand In The Automotive Tire Oem Market
Technological innovation is a key trend gaining popularity in the automotive tire OEM market. Major industry participants are focusing on developing novel technologies to shift consumer demand for advanced tires. For instance, in September 2023, Qualcomm Incorporated, a US-based semiconductor company launched Snapdragon Digital Chassis Solution. The purpose of the Snapdragon Digital Chassis is to assist intelligent and networked cars in managing the vast amount of data they gather. After a car is purchased, the Snapdragon Digital Chassis enables platforms to keep continuously updated with new features, enabling the manufacturer to develop new services and features for improved customer engagement and services-based revenue models.
Automotive Tire OEM Market Players
Major companies operating in the automotive tire oem market report are Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Pirelli & C. SpA, Hankook Tire & Technology Co. Ltd., The Yokohama Rubber Co. Ltd., Toyo Tire Corporation, Cooper Tire & Rubber Company, Kumho Tire Co. Inc., Nokian Tyres plc, Giti Tire Corporation, MRF Limited, Apollo Tyres Ltd., Cheng Shin Rubber Industry Co. Ltd., Nexen Tire Corporation, Shandong Linglong Tyre Co. Ltd., Zhongce Rubber Group Co. Ltd., Triangle Tyre Co. Ltd., Sailun Group Co. Ltd., Yokohama Rubber Co. Ltd., Qingdao Sentury Tire Co. Ltd., Goodyear Tyre & Rubber Company, Aeolus Tyre Co. Ltd., Double Coin Holdings Ltd., Continental AG, Linglong Tire Co. Ltd., Shandong Wanda Boto Tyre Co. Ltd., JK Tyre & Industries Ltd., Hebei Tianyang Rubber Co. Ltd., Gui Zhou Tyre Co. Ltd.
View The Full Report Here - https://www.thebusinessresearchcompany.com/report/automotive-tire-oem-global-market-report
Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the automotive tire OEM market in 2023. The regions covered in the automotive tire oem market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Automotive Tire OEM Market Report Structure
3. Automotive Tire OEM Market Trends And Strategies
4. Automotive Tire OEM Market - Macro Economic Scenario
5. Automotive Tire OEM Market Size And Growth
…..
27. Automotive Tire OEM Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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