The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
According to the estimates by IMARC Group, the global tire (tyre) market is expected to witness a CAGR of 4% from 2021 to 2026.
The growing demand for passenger cars, particularly across the emerging economies, represents one of the key drivers for the global tire (tyre) market.
The emergence of green, eco-friendly tires that offer improved vehicular performance and control carbon emissions, represents one of the key trends in the global tire (tyre) market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous tire (tyre) manufacturing units and supply chain disruptions pertaining to tires.
On the basis of the vehicle type, the market has been bifurcated into passenger cars, light commercial vehicles, medium and heavy commercial vehicles, two wheelers, three wheelers and off-the-road (OTR). Currently, passenger cars hold the majority of the total market share.
On the basis of the distribution channel, the market has been divided into online channel and offline channel. Among these, offline channels exhibit a clear dominance in the market.
On the basis of the season, the market has been classified into all-season, winter tires and summer tires. Among these, all-season tires represent the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global tire market are Michelin, Bridgestone, Continental, Goodyear, Sumitomo, Pirelli, Yokohama, Hankook, Toyo, Kumho, etc.
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at