Automotive Tire Market: Navigating Opportunities, Challenges, and Trends
Market Overview:
The automotive tire market is a critical component of the global automotive industry, playing a pivotal role in vehicle performance, safety, and overall driving experience. The global automotive tire market is forecast to expand at a CAGR of 4.2% and thereby increase from a value of US$134.2 billion in 2023, to US$179 billion by the end of 2030.
Tires are integral to the functioning of various vehicles, including passenger cars, commercial vehicles, and off-road vehicles. As technology continues to advance, the automotive tire market undergoes significant transformations to meet the evolving demands of consumers and regulatory requirements.
Market Growth Factors:
Rising Vehicle Production: The steady increase in global vehicle production, particularly in emerging markets...