Massive Growth of Automotive Super Swamper Tires Market with High CAGR in Coming

Posted by surendra choudhary on May 27th, 2019

Some of the key players in the global automotive super swamper tires market apart from Bridgestone include Pit Bull Tires, Continental, Michelin, Goodyear Tire & Rubber, Maxxis, BFGoodrich, and Interco Tire.

Super swamper tires are primarily used in off road racers predominantly in racing championships. These tires have the most consistent traction and are intended for quick acceleration. Super swamper tires’ high acceleration ability is made possible due to the shape of the tires particularly across the treads. These tires are efficient to cut through the surface on which they are riding with the help of shaper angles. In order to maintain tire stability while doing so, these tires are designed with cutting edge tread patterns, which incorporate irregularly shaped and deep lugs that are brought into line to follow a directional pattern.

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One of the major growth factors driving the market is the increase in acceptance of off-roading vehicles. Growing acceptance of recreational sports vehicles have resulted in the emergence of the new high-performance off-road vehicle segment. Although the market is primarily region-centric and is observing sales only in regions such as Western Europe and North America, the increasing number of racing events has resulted in developing a group of sports fanatics and a robust viewership for such events, which is expected to propel the demand for super swamper tires during the forecast period. Another trend that is likely to gain momentum in the global automotive super swamper tire market is the usage of bio-oils in the production process of super swamper tires. With growing awareness about emission standards and regulatory norms pertaining to greenhouse gases, tire manufacturers have started using environment-friendly raw materials including oils that are derived from orange peels. In the pursuit of reducing energy consumption and the emission of greenhouse gas it has also been seen that such tires offer improved traction as compared to tires which are made from conventional oils.

The global automotive super swamper tires market can be segmented by vehicle type, and region. In terms of type of vehicle, the market can be segregated into pickup-trucks, SUVs, and other off-road vehicles. The SUV segment held the maximum share of the global automotive super swamper tires market. High consumer preference for large vehicles is anticipated to fuel the growth of the segment during the forecast period. Moreover, the development of new models, accessibility of better leasing options in the US, declining gasoline prices, and the rising sales of SUVs, especially in developing countries such as India and China, is likely to encourage the growth of the market of this segment.

In terms of geography, the global automotive super swamper tires market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the maximum share of the market in 2016. This is due to factors such as increasing vehicle production, and improvement in the economic conditions in the region. Although the market is presently dominated by North America, the introduction of severe regulatory norms in EMEA is encouraging automotive manufacturers to implement advancementss in powertrain technology and the presence of numerous luxury car manufacturers such as Audi, Mercedes-Benz, Bentley, and BMW is anticipated to propel the overall growth of the market in the region.

All the players are competing in the market to gain significant shares, making this market highly competitive in nature. One of the key vendors, Bridgestone, functions in several business segments including tires, retreading materials, other automobile parts, automobile repair and maintenance services, as well as raw materials for tires. In order to get benefit from the immense market potential of the automobile sector, the company is presently focusing on enhancing the operational effectiveness of its production facilities.