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USD 33.72 bn Growth in Automotive Premium Tires Market, North America to be Largest Contributor to Market Growth - Technavio

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NEW YORK, Sept. 2, 2022 /PRNewswire/ -- Premium tires for automobiles are designed and developed to deliver superior performance and safety over conventional tires. Reduced rolling resistance, better road grip, and fuel economy are some major factors considered while designing and developing premium tires.

Latest market research report titled Automotive Premium Tires Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026 has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years
Latest market research report titled Automotive Premium Tires Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026 has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years

The automotive premium tires market size is expected to grow by USD 33.72 bn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 10.58% during the forecast period.

The report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Request Latest FREE PDF Sample Report

Automotive Premium Tires Market 2022-2026: Scope

The automotive premium tires market report covers the following areas:

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Automotive Premium Tires Market 2022-2026: Vendor Landscape and Analysis

The automotive premium tires market is fragmented, and the vendors are deploying growth strategies such as expanding their product lines and strengthening their manufacturing capacities to compete in the market. The competition among established players is intense. This is compelling vendors to expand their product lines and strengthen their manufacturing capacities. Market vendors use energy-efficient rubber compounds and materials to enhance the performance of premium tires. Prominent vendors are differentiating themselves in the market and are engaging in M&A to expand their product portfolio for automotive premium tires.

Bridgestone Corp., Continental AG, Hankook Tire and Technology Co. Ltd., Kumho Tire Co. Inc., Michelin North America Inc, NEXEN TIRE Corp., Nokian Tyres Plc, Pirelli Tyre Spa, Shandong Linglong Tyre Co. Ltd., The Goodyear Tire and Rubber Co., Toyo Tire Corp., Yokohama Rubber Co. Ltd., Cheng Shin Rubber Ind. Co. Ltd., Giti Tire Pte. Ltd., MRF Ltd., Shandong Hengfeng Rubber and Plastic Co. Ltd., Triangle Tyres, and Xingyuan Tires Group are among some of the major market participants.

This report provides a full list of key vendors, their strategies, and the latest developments. Request a FREE PDF Sample Now

Automotive Premium Tires Market 2022-2026: Segmentation

  • End-user

  • Geography

Automotive Premium Tires Market 2022-2026: Key Highlights

  • CAGR of the market during the forecast period 2022-2026

  • Detailed information on factors that will assist automotive premium tires market growth during the next five years

  • Estimation of the automotive premium tires market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the automotive premium tires market

  • Analysis of the market's competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of automotive premium tires market vendors

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Automotive Premium Tires Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.58%

Market growth 2022-2026

USD 33.72 billion

Market structure

Fragmented

YoY growth (%)

9.75

Regional analysis

North America, APAC, Europe, Middle East and Africa, and South America

Performing market contribution

North America at 38%

Key consumer countries

US, China, Japan, Germany, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Bridgestone Corp., Continental AG, Hankook Tire and Technology Co. Ltd., Kumho Tire Co. Inc., Michelin North America Inc, NEXEN TIRE Corp., Nokian Tyres Plc, Pirelli Tyre Spa, Shandong Linglong Tyre Co. Ltd., The Goodyear Tire and Rubber Co., Toyo Tire Corp., Yokohama Rubber Co. Ltd., Cheng Shin Rubber Ind. Co. Ltd., Giti Tire Pte. Ltd., MRF Ltd., Shandong Hengfeng Rubber and Plastic Co. Ltd., Triangle Tyres, and Xingyuan Tires Group

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse Consumer Discretionary Market Reports

Table of Contents

1 Executive Summary

  • 1.1 Market overview

2 Market Landscape

  • 2.1 Market ecosystem

3 Market Sizing

  • 3.1 Market definition

  • 3.2 Market segment analysis

  • 3.3 Market size 2021

  • 3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

  • 4.1 Five forces summary

  • 4.2 Bargaining power of buyers

  • 4.3 Bargaining power of suppliers

  • 4.4 Threat of new entrants

  • 4.5 Threat of substitutes

  • 4.6 Threat of rivalry

  • 4.7 Market condition

5 Market Segmentation by End-user

  • 5.1 Market segments

  • 5.2 Comparison by End-user

  • 5.3 Replacement - Market size and forecast 2021-2026

  • 5.4 OEM - Market size and forecast 2021-2026

  • 5.5 Market opportunity by End-user

6 Customer Landscape

  • 6.1 Customer landscape overview

7 Geographic Landscape

  • 7.1 Geographic segmentation

  • 7.2 Geographic comparison

  • 7.3 North America - Market size and forecast 2021-2026

  • 7.4 APAC - Market size and forecast 2021-2026

  • 7.5 Europe - Market size and forecast 2021-2026

  • 7.6 Middle East and Africa - Market size and forecast 2021-2026

  • 7.7 South America - Market size and forecast 2021-2026

  • 7.8 US - Market size and forecast 2021-2026

  • 7.9 Germany - Market size and forecast 2021-2026

  • 7.10 China - Market size and forecast 2021-2026

  • 7.11 Japan - Market size and forecast 2021-2026

  • 7.12 France - Market size and forecast 2021-2026

  • 7.13 Market opportunity by geography

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers

  • 8.2 Market challenges

  • 8.3 Impact of drivers and challenges

  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview

  • 9.2 Vendor landscape

  • 9.3 Landscape disruption

  • 9.4 Industry risks

10 Vendor Analysis

  • 10.1 Vendors covered

  • 10.2 Market positioning of vendors

  • 10.3 Bridgestone Corp.

  • 10.4 Continental AG

  • 10.5 Hankook Tire and Technology Co. Ltd.

  • 10.6 Kumho Tire Co. Inc.

  • 10.7 Michelin North America Inc

  • 10.8 Nokian Tyres Plc

  • 10.9 Pirelli Tyre Spa

  • 10.10 Shandong Linglong Tyre Co. Ltd.

  • 10.11 The Goodyear Tire and Rubber Co.

  • 10.12 Yokohama Rubber Co. Ltd.

11 Appendix

  • 11.1 Scope of the report

  • 11.2 Inclusions and exclusions checklist

  • 11.3 Currency conversion rates for US$

  • 11.4 Research methodology

  • 11.5 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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