The EV Tire Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering base year as 2021.
EV Tires Market report covers a detailed analysis of current and upcoming market trends, company market shares, market projections, competitive benchmarking, competition mapping, and in-depth research of the most significant sustainability strategies and their impact on industry growth and competition. The research was conducted using a combination of primary and secondary data, as well as input from leading industry players.
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The tires on electric vehicles may resemble those on fossil-fuel vehicles. They are, nonetheless, dissimilar in terms of manufacturing components. When compared to fossil fuel car tires, electric vehicle tires are 20% lighter. This is because electric vehicles utilize less rubber and other raw materials. The rolling resistance of electric vehicle tires is typically 30 percent lower. As a result, electric vehicle tires have a longer operating life than traditional tires. In comparison to traditional tires, Bridgestone states that the EV tires have deep treads and unique patterns. Electric cars are often heavier than their counterparts fuelled by fossil fuels. The batteries add a significant amount of weight to electric vehicles. As per the study, EVs would have to weigh 60% more than a conventional vehicle to achieve the same range.
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The Major Players In The EV Tires Market Include:
- The Goodyear Tire Rubber Company
- Continental AG
- Bridgestone Corporation
- Pirelli C. S.p.A
- Yokohama Rubber Company Ltd.
- Hankook Tire Technology Group
- Michelin Group
- Kumho Tire Company Inc.
- Toyo Tire Corporation
- GITI Tire and other major players.
Market Has Segmented The Global EV Tires Market On The Basis Of Type, Application, And Region:
The EV Tires market is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
By Type:
- Radial Tires
- Bias Tires
- Composite Tires
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By Distribution Channels:
- OEM
- Aftermarket
By Regional Outlook
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
Covid-19 Impact and Recovery Analysis on Industry:
The COVID-19 epidemic has struck devastation throughout the world, with over 55 million infections and counting. Because demand for tires has nearly gone during the lockdown, tire makers' inventories have climbed to one month's worth of manufacturing, the greatest level ever, with producers looking on methods to minimize hoarding, such as production reduction. While the Pandemic has been kept under control in China and Southeast Asian nations like Singapore, several countries in Europe have been affected by the second and even third waves, resulting in lockdowns. In the United States, the world's worst-affected country, the number of infections is on the rise.
Report includes Competitor's Landscape:
- Major trends and growth projections by region and country
- Key winning strategies followed by the competitors
- Who are the key competitors in this industry?
- What shall be the potential of this industry over the forecast tenure?
- What are the factors propelling the demand for the action figures and statues?
- What are the opportunities that shall aid in significant proliferation of the market growth?
- What are the regional and country wise regulations that shall either hamper or boost the demand for action figures and statues?
- How has the covid-19 impacted the growth of the market?
- Has the supply chain disruption caused changes in the entire value chain?
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