Global Rubber Tire Market is expected to reach US $ 206.61 BN By Forecast year 2028

Global Rubber Tire Market is expected to reach US $ 206.61 BN By Forecast year 2028Rubber Tire market Data And Industry Growth Analysis | Stratistics Market Research Consulting

The market report “Rubber Tire Market by Tire Types (Bias, Radial, Solid), Technologies (Connected Tires, and Winter Tires), Vehicle Types (Agriculture Tractor, Construction & Mining Vehicle, Industrial Vehicle, Light Commercial Vehicle, Motorcycle & Scooter, Passenger Vehicle, and Truck & Bus), Rim Sizes (<11”, 12-17”, 18-21”, 22-25”, 29-49”, and 51-63”), Sales Channels (Aftermarket, and Original Equipment Manufacturers (OEM)) and Region – Forecast to 2028”. The rubber tire market is growing at a CAGR of 6.5% by 2028, owing to the rising demand to improve the efficiency and productivity of forklifts, and increase in awareness among consumers regarding vehicle maintenance.

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Based on tire type, the radial segment is estimated to grow at highest CAGR segment during the study period.
On the basis of tire type, the market is categorised into bias, radial, and solid. Radial segment is estimated to be the fastest growing market segment strongly driven by its improved durability and maneuverability. Moreover, the tread of a radial tire does a great job of gripping the road.

Based on technology, the connected tires segment is anticipated to grow faster during the forecast period.
On the basis of technology, the market is segmented into connected tires and winter tires. Connected tires segment is projected to grow faster during the forecast period due tothe growing inclination for digital monitoring and predictive maintenance of tires.

By geography, Middle East & Africa is expected to grow stronger during the forecast period
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Middle East & Africa is experiencing is exp0ected to grow at prominent CAGR in the rubber tire market. This is mainly attributed by the increase in construction activities in GCC countries and expansion of the mining industry in South Africa.

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The key players in this market are Apollo Tyres Ltd., Bridgestone Corporation, CEAT Ltd., China National Tire & Rubber Co., Ltd, Continental AG, Cooper Tire & Rubber Company, Giti Tire, Hangzhou Zhongce Rubber Co., Ltd., Hankook Tire, Kumho Tire Co., Inc., MICHELIN, Nexen Tire Corporation, Nokian Tyres plc, Pirelli & C. S.p.A, Qingdao Fullrun Tyre Corp., Ltd., Sumitomo Rubber Industries, Ltd., The Goodyear Tire & Rubber Company, Toyo Tire & Rubber Co., Ltd., Trelleborg AB, and Yokohama Tire Corporation.

The research provides in-depth analysis of the global Rubber Tire numerous growth opportunities and segmentation by types, applications, end-users, and geography. In terms of drivers, restraints, opportunities, trends, and the competitive landscape, the research provides a solid platform for users who want to enter the global market. The study also goes into great detail about the supply and demand analyses, as well as main industry players' participation and market share growth data. The sales margin, pricing, revenue share, and gross margin are all calculated in detail. The report contains an accurate simulation of industry insight, smart solutions, practical solutions, and the latest technology to provide a better user experience. The global Rubber Tire market research includes a complete breakdown of regional break-up, status, leading growth rate, country market shares, and future technologies.

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