China’s tire market is expected to witness a significant growth at a CAGR of 3.9% during the forecast period (2025-2031). The country is the largest automotive market by volume all across the globe. As per OICA, in 2019, 25.77 million vehicles were sold in China whereas 25.7 million vehicles were manufactured in the country, making […]
Category Archives: Business
The European Tire Market is projected to witness a CAGR of 2.1% during the forecast period (2025-2031). Stable vehicle sales, high expenditure on vehicles, and their accessories are some of the major factors for the growth of the market in the region. Growth in the demand for high-performance tires is another major factor for the […]
Germany’s tire market is projected to witness a modest growth at a CAGR of 2.2% during the forecast period (2025-2031). The country is one of the largest manufactured of the vehicle all across the globe. As per the OICA, the country produced 4.6 million vehicles in 2019. As per the European Tyre & Rubber Manufacturers […]
The Indian tire market is expected to witness significant growth at a CAGR of 5.1% during the forecast period (2020-2026). Till 2018, the country was one of the fastest-growing automotive markets all across the globe, however, a downfall in vehicle sales in 2019 & 2020 (due to the COVID-19 pandemic) has been witnessed in the […]
Japan’s tire market is projected to witness a modest growth at a CAGR of 2.3% during the forecast period (2025-2031). As per the Japan Automobile Tyre Manufacturers Association, Inc. (JATMA), vehicle manufacturing is increasing continuously in the country. The tire production is nearly flat in the country as it was less than 1,100 KT (rubber […]
The Latin America tire market is projected to register a CAGR of 3.6% during the forecast period (2025-2031). The flat automotive market and economic instability will impact the growth of the market in the region. Moreover, due to the COVID-19 pandemic, a significant downfall in vehicle sales has been witnessed which will further decrease the […]
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 […]
UK’s tire market is expected to witness a modest growth at a CAGR of 2.0% during the forecast period (2025-2031). The country is one of the major vehicle industries all across the globe. As per the OICA, the country produced around 1.4 million vehicles in 2019. Out of this, 1.3 million were passenger cars and […]
The US tire market is anticipated to grow at a modest CAGR of 1.9% during the forecast period. The growing demand for high-performance tires and innovation in tire technology are the major factor for the growth of the tire market in the country. As per the OICA, vehicle sales are decreasing in the US since […]
The global ADAS market is expected to grow at a significant CAGR during the forecast period. ADAS is a rapidly emerging technology and is expected to find a significant growth in the automotive industry to increase safety, comfort, and tracking. Major factors augmenting the growth of the market include the high number of road accidents […]