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The most recent report from MarkNtel Advisors, titled Tire (Tyre) Market research report, gives readers and analysts important details on regional and markets. This report fulfills the purpose of getting in-depth analysis about the studied market by imparting helpful information on market insights, definitions, classifications, manufacturing operations, development plans, and investments. The research also discusses the impact of COVID-19 on Tire (Tyre) market share, consumer prices, and growth rates. It also offers a complete analysis of current market trends and changes, industry overview, and forecasts for regional growth. The Tire (Tyre) Market research study includes information on trend analysis, business growth and development, and the geography of key regions. It is also crucial for large organizations to adopt current trends and technology advancements. This study aims to inform readers about the competitive market situation.
The scope of the Tire (Tyre) market is discussed in this research report, along with its segmentation, significant trends, potential, and challenges. Several statistical approaches were used in a thorough research and analysis to assure the authenticity of the report. This study uses an understandable approach to make the report easy for stakeholders. Considering the provided relevant information, the reader can build a strong foundation for upcoming forecasts over the forecast period. The ideal solution for the specific needs of the customer is what this report aims to achieve.
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Market share analysis and the competitive environment
The Tire (Tyre) market competitive landscape breaks down data per competitor, including financials of the company, market potential, revenue earned, presence, new market initiatives, company strengths and weaknesses, and dominance in specific segments and geographical regions. Competitive analysis for each rival is done separately to identify the tactics of achieving competitive advantage. The aforementioned data emphasizes the following key participants in the Tire (Tyre) market:
-Bridgestone Corporation
-Continental Ag
-Hankook & Company Co., Ltd.
-Michelin
-Nokian Tyres Plc
-Pirelli & C. S.P.A.
-Sumitomo Rubber Industries, Ltd.
-The Yokohama Rubber Co., Ltd.
-Toyo Tire Corporation
-MRF Limited
-CEAT Limited
-JK Tire & Industries Ltd.
Segmentation Analysis
The major segments make up the Tire (Tyre) market. The largest market share holding category and its value are examined in the report, along with other significant data. Both annual growth and a comparison to the previous year, are included in the study. The study offers some strategic advice for overcoming the market barrier and attaining fantastic market growth, as well as relevant information on market segments and geographic analysis.
Market Divided into, By Vehicle Type
-Two Wheeler
-Three Wheeler
-Passenger Car
-Commercial Vehicle
–Light Commercial Vehicle (LCV)
–Medium & Heavy Commercial Vehicle (MHCV)
-Off-the-Road Vehicle (OTR)
Market Divided into, By Demand Type
-OEM
-Replacement
Market Divided into, By Tire Type
-Radial
-Bias
Market Divided into, By Season Type
-Summer Tires
-Winter Tires
-All Season Tires
Market Divided into, By Sales Channel
-Direct Sales
-Dealers & Distributors
-Online Platform
Market Divided into, By Rim Size
-Upto 12”
-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 Divided into, By Price Category
-Budget
-Economy
-Premium
Market Divided into, By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific
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Possible Restraint: Volatile Prices of Raw Materials
The volatile raw material prices might restrain the growth of the Tire Market during 2023-28. As for all other commodities, the prices of raw materials determine the tire cost. The surging prices of butadiene & EPDM rubber due to their limited production are hampering the production & sales of tires. Consequently, the lack of a constant raw material supply has caused tire prices to rise uniformly, with replacement costs becoming unaffordable for many prospective buyers.
Furthermore, though tire manufacturing companies are constantly investing in developing sustainable materials, the amount of waste produced by tires is also increasing substantially. Due to this, governments of various countries worldwide have imposed stringent guidelines for tire manufacturers to adopt sustainable waste management solutions, which would lead to additional costs and, in turn, hinder the overall market growth, owing to the limited number of buyers.
Key points covered:
-The study closely analyzes prospects and trends in the Tire (Tyre) market, both present and future.
-PEST analysis and external environment analysis for the industry.
-Follows market trends and offers analysis of the COVID-19 effects on the key regions.
-Comprehensive analysis of the company profiles for the leading market participants with company overviews, corporate insights, product benchmarking, and SWOT analysis.
-To aid in assessing the Tire (Tyre) market possibilities, the report contains a thorough qualitative and quantitative examination of current trends as well as future estimates.
-Assists clients in creating plans that will allow them to locate lucrative investment opportunities and maximize ROI by seizing the advantage of being first to market.
-Provides detailed analysis on CAGR and Year-on-Year market growth with current and emerging market trends.
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