Growth Opportunities in the Global Automotive Tire Market quoting : "Digital Journal"

Within the global automotive tire market, the aftermarket segment is expected to remain the largest market segment. The global automotive tire market is expected to reach an estimated $257.5 billion by 2021 and it is forecast to grow at a CAGR of 4.6% from 2016 to 2021. What are some of the most promising, high-growth opportunities for the automotive tire market by vehicle type (Passenger Car, Light Commercial Vehicle and Heavy Commercial Vehicle ), end-user (OEMs and Aftermarket), tire type (Bias and Radial), and region (North America, Europe, Asia Pacific, and the Rest of the World)? Asia Pacific is expected to overtake the North American automotive tire market during the forecast period due to its high vehicle production, improvement in the economic conditions and increasing investment by the industry players within the APAC region. Based on its comprehensive research, Lucintel forecasts that the OEMs and heavy commercial vehicle segments are expected to show above average growth during the forecast period.


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