The North America tire market is anticipated to grow at a modest CAGR of 2.0% during the forecast period. The rising demand for high-performance tires and innovation in tire technology is the major factor for the growth of the tire market in the region. The region is one of the major automotive markets with a sale of around 19.5 million vehicles in 2019. However, there is a flat growth in vehicle sales from a couple of years, which is a major challenger for the industry. Though, the region has a well-developed aftermarket. As per the US Bureau of Transportation Statistics, 284.5 million vehicles were registered (on-road) in the US in 2019 as compared to 248.7 million in 2012, these are further estimated to reach 287.3 million in 2020. The tire needs to change at a regular time interval which offers significant market growth to the industry during the forecast period.
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With the help of apparent insights depicted here into a wide range of product and service releases by key competitors in the market, novice players are able to position themselves in the vast market. It is an indispensable need to get detailed idea to track future business growth and this North America Tire Market research report is the best medium to get that vision. It also aims at providing market environment along with covering complete market information. North America Tire Market research report also enables business owners to have firm grasp over what consumers exactly expect, their future demands, wants and preferences by offering detailed customer related data. It further discusses about key market players and ongoing latest trends.
This informative yet easy to understand North America Tire Market study report covers wide-ranging product launch wise latest trends, regulatory shifts and other important factors, which are expected to affect the overall industry growth for the approaching time span 2022-2028. It aims at providing detailed knowledge about what customers exactly want from which key players can make sound decision making for the growth of business. It also aims at measuring marketing effectiveness. SWOT Analysis technique is also employed to form the market research report to cover helpful opportunities, possible challenges and threats. Impact of new corona virus on the global economy is also shared in this North America Tire Market report. Collaborations, mergers and acquisitions like strategies are also covered in this market study report.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
North America Tire Market Report Segment
By Vehicle Type
- Passenger Cars
- Light & Medium Commercial Vehicle
- Heavy Commercial Vehicle
- Two-Wheeler
- Other (Construction, Agricultural, Customized Sports)
By Road Application
- All-Season Tire
- Summer Tire
- Winter Tire
- Other
By Construction
- Radial Tire
- Bias Ply Tire
By Tire Type
- Tubeless Tire
- Tubbed Tire
By Sales Channel
- OEM
- Aftermarket
North America Tire Market Report Segment- By Geography
- United States
- Canada
The Report Covers
- Comprehensive research methodology of the North American Tire market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the North American Tire industry.
- Insights about market determinants which are stimulating the North American Tire market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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