Global Tire Market| Industry Trends Report 2019-2024Posted by Sonika on November 27th, 2019 The Global Tire Market was worth 3.1 Billion Units in 2018, growing at a CAGR of 4.3% during 2011-2018. A tire surrounds a wheel’s rim to transfer the vehicle’s load on the surface and offers a strong grip between the road and the vehicle. It is a flexible and robust structure that is manufactured using various materials such as wire, fabric, natural rubber, carbon black and synthetic rubber. Tires are strong and flexible and help absorb vibrations. Since they improve the overall performance of the vehicle, they are widely utilized in buses, cars, trucks, bikes, bicycles, wheelchairs, lawn mowers, forklifts, shopping carts and airplanes. Request a free sample copy of Tire Market Report @ https://www.bharatbook.com/marketreports/sample/reports/1598843 Various factors such as rapid urbanization, changing lifestyles, mounting income levels and rising population have led to an increase in the sales of both commercial and passenger vehicles. Strong growth in the automotive industry is directly influencing the sales of tires across the globe. Moreover, increasing investments in the construction sector, the thriving tourism industry and rising vehicle motorization rates are positively impacting the production of commercial vehicles, thereby boosting the growth of the market. Apart from this, manufacturers are now engaging in the development of products such as ecological tires, flat run tires and nitrogen-based tires that are environment-friendly. For instance, they are employing orange peel extracts in the production to diminish petroleum usage. Tire market is anticipated to reach a volume of 3.9 Billion Units by 2024. Regional Insights: On the geographical front, China holds the leading position in the global market. This can be accredited to the flourishing automotive industry in the region supported by increasing population and rapid urbanization. Competitive Landscape: Key Questions Answered in This Report: Browse our full report with Table of Contents : https://www.bharatbook.com/marketreports/tire-market-global-industry-trends-share-size-growth-opportunity-and-forecast-2019-2024/1598843 About Bharat Book Bureau: Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 4,80,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors. Contact us at: Bharat Book Bureau Like it? Share it!More by this author |