Passenger Tire Market Global Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2021 to 2027

The global Passenger Tire Market was valued at $112.16 billion in 2019, and is projected to reach $154.40 billion by 2027, registering a CAGR of 4% from 2021 to 2027.

Car tires are round car parts made of rubber that are used to cover the rim of a wheel outside. The tire’s primary function is to protect the wheel rim and provide traction between the road surface and the vehicle. Made of rubber, it provides a flexible cushion to reduce the impact of vibration and absorb the shock of the vehicle.

Key Market Segments

By Season Tire Type

• Summer
• Winter 
• All Season

By Vehicle Type 

• Passenger Car
• Commercial Vehicle 
• Light commercial
• Heavy commercial
• Electric Vehicle

By Rim Size

• Less than 15
• 15 to 20
• More than 20

Key Market Players

Some of the key players in the automotive tire market is dominated by global players and comprises several regional players. The key players in the automotive tire market are Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan). Bridgestone Corporation

Scope of the Report

The research study analyzes the global Passenger Tire industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:

Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Geographic Coverage

o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume

Key Questions Answered by Passenger Tire Market Report

1. What was the Passenger Tire Market size in 2019 and 2020; what are the estimated growth trends and market forecast (2021-2027). 2. What will be the CAGR of the Passenger Tire Market during the forecast period (2021-2027)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2021? How these segments are expected to grow during the forecast period (2021-2027).
4. Which manufacturer/vendor/players in the Passenger Tire Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.