Tire (tyre) Market: Report: Top Companies, Trends and Future Prospects Details for Business Development
Tire (tyre) Market: Report: Top Companies, Trends and Future Prospects Details for Business Development
Published by IMARC Services Private Limited
Posted on August 31, 2021
According to IMARC Group’s latest report, titled “Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global tire market exhibited moderate growth during 2015-2020. Tire is a ring-shaped, pneumatically inflated structure manufactured from synthetic or natural or synthetic rubber, fabric, carbon black, and wire. It encloses the rim of a wheel to form soft contact and assists in transferring the vehicle's load onto the road. A tire also works as a cushion for the wheels of a moving vehicle while providing a gripping surface for traction. It minimizes the impact of vibrations, absorbs shocks, and effectively withstands the tractive force between the surface of the road and the vehicle, thereby enhancing the vehicle's overall performance.
The expanding automobile industry has led to the growing adoption of crossover utility vehicles (CUVs) and sport utility vehicles (SUVs), thereby driving the demand for high-quality tires. Additionally, the implementation of stringent safety regulations has significantly impacted the rising popularity of automobile tires with a high safety quotient. Besides this, several leading market players are engaging in the development of advanced products, such as flat-run and nitrogen-based tires, that are also eco-friendly. Moreover, the rising environmental concerns towards increasing vehicular pollution levels have led to the emergence of hybrid or electric vehicles. In line with this, various technological advancements have resulted in the launch of electricity-generating tires, which is anticipated to further bolster the global market for tires in the coming years. Looking forward, IMARC Group expects the marketto grow at a CAGR of around 4% during 2021-2026.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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According to IMARC Group’s latest report, titled “Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global tire market exhibited moderate growth during 2015-2020. Tire is a ring-shaped, pneumatically inflated structure manufactured from synthetic or natural or synthetic rubber, fabric, carbon black, and wire. It encloses the rim of a wheel to form soft contact and assists in transferring the vehicle's load onto the road. A tire also works as a cushion for the wheels of a moving vehicle while providing a gripping surface for traction. It minimizes the impact of vibrations, absorbs shocks, and effectively withstands the tractive force between the surface of the road and the vehicle, thereby enhancing the vehicle's overall performance.
The expanding automobile industry has led to the growing adoption of crossover utility vehicles (CUVs) and sport utility vehicles (SUVs), thereby driving the demand for high-quality tires. Additionally, the implementation of stringent safety regulations has significantly impacted the rising popularity of automobile tires with a high safety quotient. Besides this, several leading market players are engaging in the development of advanced products, such as flat-run and nitrogen-based tires, that are also eco-friendly. Moreover, the rising environmental concerns towards increasing vehicular pollution levels have led to the emergence of hybrid or electric vehicles. In line with this, various technological advancements have resulted in the launch of electricity-generating tires, which is anticipated to further bolster the global market for tires in the coming years. Looking forward, IMARC Group expects the marketto grow at a CAGR of around 4% during 2021-2026.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.