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Global Tires & Rubber Market || keyplayers Nexen Tire Corporation, Nokian Tyre’s plc.

The report  Global Tires & Rubber Market, By Material Type (Natural Rubber, Synthetic Rubber, Elastomers, and Others), By Tire Type (Pneumatic Tires, Run Flat Tires, Airless Tires, and Others), By Vehicle Type (Light Duty Vehicles, Heavy Duty Vehicle, Agricultural Tractors, Construction & Mining Equipment, and Industrial Equipment), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030″ Global tires & rubber market accounted for US$ 613 billion in 2018 with a CAGR of 4.80%. The rubber tire market is expanding rapidly, as rubber tires are lightweight and possess superior thermal and molding characteristics. Increased mechanization of farming activities, consolidation of subsistence farms, and rise in commercial farming are driving the sales and usage of agricultural activities, and thereby, boosting the rubber tire market.

 

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Key Highlights:

  • On September 27, 2017, Goodyear Tire and Rubber Company’s non-pneumatic tires TurfCommand with DuraWeb Technology is being used for commercial lawnmowers, and as a strategy, is also being developed for passenger and commercial vehicles.
  • On August 13, 2019, Toyo Tires Introduces Opened Country SxS for Outdoor Enthusiasts, Its first dedicated tire for side-by-side vehicles.

Key Market Insights from the report:        

The global tires & rubber market accounted for US$ 613 billion in 2018 and is projected to register a moderate CAGR of 4.80% over the forecast period. The market report has been segmented based on material type, tire type, vehicle type, and region.

  • By material type, synthetic rubbers hold large market share, however, natural rubber is also anticipated to grow at a high pace during forecast period due to its durability and innovation.
  • By tire type, the pneumatic tires accounted for the largest share among others and also it is anticipated to register high market share during the forecast period.
  • By vehicle type, the heavy-duty vehicle has high demand due to its use in daily transport activities hence it is anticipated to register high CAGR value during the forecast period.
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Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “ Global Tires & Rubber Market, By Material Type (Natural Rubber, Synthetic Rubber, Elastomers, and Others), By Tire Type (Pneumatic Tires, Run Flat Tires, Airless Tires, and Others), By Vehicle Type (Light Duty Vehicles, Heavy Duty Vehicle, Agricultural Tractors, Construction & Mining Equipment, and Industrial Equipment), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2030

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The prominent player operating in the global Tires & Rubber market includes Apollo Tyres Ltd., Bridgestone Corporation, CEAT Ltd., Continental AG, Cooper Tire & Rubber Company, Giti Tire, Kumho Tire Co., Inc., MICHELIN, Nexen Tire Corporation, Nokian Tyre’s plc.

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