Mobility-as-a-Service (MaaS) Market 2024-2032 Key Futuristic Top Trends and Competitive Landscape

Mobility-as-a-Service (MaaS) Market OverviewThe Mobility-as-a-Service (MaaS) Market report analyzes the market status, growth rate, future trends, market drivers, opportunities and challenges, risks and entry...
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Automotive tire Industry Share, Competitive Environment and Higher Growth Rate with Forecast 2023-2032 | Top Players

Market overview

The automotive tire market  is expected to register a CAGR of 12% from the 8 years from 2023 to 2032. The fast growth rate is attributed to the fact that the middle classes are exploding around the world. This is especially true in the Asia-Pacific region. These people want to drive safer and more efficient cars that are also environmentally friendly. There are more road accidents, especially in developing nations and the Asia-Pacific region. Governments in these nations are responding by requiring that newer cars are safer, more efficient, and safer for the environment. They are requiring the same of their tires.

List of Key Companies

  • Michelin (France)
  • Bridgestone (Japan)
  • Continental AG (Germany)
  • Hankook Tire (South Korea)
  • Pirelli & C. S.p.A. (Italy)
  • Toyo Tire Corporation (Japan)
  • Kumho Tire (South Korea)
  • Giti Tire (Singapore)
  • Maxxis International (Taiwan)
  • Nexen Tire Corporation (South Korea)

Market segmentation

By Rim Size

  • 13″–15″
  • 16″–18″
  • 19″–21″
  • >21″

By Season

  • Winter
  • Summer
  • All-Season

By Propulsion Type

  • ICE
  • EV

By Vehicle Type

  • Passenger Cars
  • LCV
  • HCV

By Distribution Channel

  • OEM
  • Aftermarket

By Region

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

Regional analysis

The Asia-Pacific region leads in terms of CAGR because of a large and growing middle class and increasing purchasing power. The North American region leads in terms of market share. The region is home to a large middle class with substantial purchasing power. It also has an environmentally conscious public that is willing to pay a premium for safer cars that have tires that are safer, more efficient, and are friendlier for the environment.

Also, many companies in the North American region have been passing laws that require the usage of safer tires that are friendlier for the environment in newer models and makes of cars.

Industry news

Michelin Tire recently entered into an agreement with Purcell Tire and Rubber Company. The resulting company would enter new markets easier.

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