Future Forward: Key Trends and Projections for the Summer Tire Market 2027

Global Summer Tire Market Overview:

According to MarkNtel Advisors study the Global Summer Tire Market is projected to grow at a CAGR of around 4% during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven by the mounting awareness among people about the benefits of summer tires like better responsiveness, improved cornering, reduced braking distance, specialized tread, harder rubber compound, among others.

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Scope of the Summer Tire Market Report Segmentation

-By Type of Vehicles

Passenger Cars
Light Commercial Vehicles
Medium Heavy Commercial Vehicles
Off-the-Road (OTR)
Two Wheelers
Three Wheelers

-By Demand Category

OEM
Aftermarket

-By Sales Channel

Dealer/Distributor
Online
Others

-By Price Category

Low (Up to USD100)
Medium (USD100-USD200)
High (Above USD200)

-By Rim Diameter

Upto 12”
1” to 15”
1.” to 18”
1” to 20”
1” to 22.5”
6” to 26”
1” to 35”
1” to 47”
Above 47”

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Geographical analysis:

-By Region

North America
South America
Middle East and Africa
Asia-Pacific

Amongst all regions globally, Asia-Pacific is expected to dominate the Summer Tires Market with the largest share during 2022-27. It owes to the rising population its growing interest in private ownership of passenger cars two-wheelers for easy commute. Since Asia-Pacific has warm temperature levels across most countries, the sales of summer tires are rising rapidly and augmenting the regional market growth.

In addition, growing consumer awareness about the advantages of using summer tires is also infusing their demand across the region. Moreover, as the automotive tire industries across Asia-Pacific are expanding rapidly, the leading players in the regional market are expecting lucrative prospects to set up their manufacturing facilities expand reach throughout the region in the coming years.

Furthermore, countries like China India are prominent locations for manufacturing summer tires owing to the easy availability of raw materials cheap labor. Hence, the Summer Tire Market is all set to witness remunerative opportunities across Asia-Pacific in the years to come.

Current Landscape of Summer Tire Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Summer Tire market. The research report profiles major players, including

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Bridgestone
Continental
Michelin
Yokohama
Goodyear
Pirelli
Nokian Tyres
Hangzhou Zhongce
Sumitomo
Nexen Tire Corporation

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