Global Rubber Tires Market to Grow due to Increasing Demand from Automotive Industry

2024-12-24 10:55:46 News & Society

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A new research report published by Transparency Market Research gives an accurate analysis of the global rubber tires market. The report is titled ?Rubber Tires Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019?. This report shares important statistics pertaining to the global rubber tires market. Furthermore, it also highlights the strengths, weaknesses, market drivers, restraints, and opportunities of this market in the coming years.

According to research analysts, the global tire industry has been growing at a remarkable rate in the last ten years. This surge in demand is largely attributable to the growing demand for rubber tires from several sectors. The global rubber tires market is expected to tread the path of success as the Asian market will project a huge demand. On the other hand, Europe and the U.S. are expected to grow at a slower pace than the global average. This downturn will be offset by the steady demand for rubber tires in Latin America and the Middle East due to the growing production of automobiles.

The main factor driving the global rubber tires market is the increasing production of vehicles across the globe. For instance, China is the biggest consumer of motorcycle and bicycle tires. This growth will mainly be attributable to the growing income levels in Asia Pacific and the exponentially growing population, which is fueling the automobile industry, thereby increasing the valuation of the rubber tires market.

Additionally, as governments across the worlds are investing in the automotive industry, this has led to an indirect rise in the demand for tires. The global rubber tires industry is also flourishing due to tires being required for replacing old ones due to wear and tear. Furthermore, though airplane tires are a niche market, this segment is contributing significantly to the global rubber tires market.

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The possible restraints on the global rubber tires market are the rising fuel costs and the growing financial burden on automobile manufacturers, which is forcing them to cut down on large-scale production.

The Key Players profiled in this research report are Goodyear, Bridgestone Corporation, Continental AG, Eurogrip Tires, MRF, and Maxxis International. The report offers an insight into the company profile, financial overview, research and development activities, investment outlook, product portfolio, and business and marketing strategies. The report also gives a SWOT analysis and Porter?s five forces analysis of these players to help the readers understand the market trends and dynamics accurately for making well-informed business decisions.

The market has been segmented as below:

Rubber Tires Market: Regional Analysis
North America
Europe
Asia-Pacific
Rest of the World

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