Latest Trends in the Global Automotive Tire Market; MRFR Releases the Forecast for 2017-2023
The automotive tire market is an ever-increasing space due to the constant growth in the automotive industry. Production and sales of automobiles is rising steadily, led by the demand for efficient vehicles. Simultaneously, the proliferation of electric vehicles is increasing too. These trends are likely to continue in the future, leading to strengthening market demand throughout the forecast period. Increasing numbers of OEMs and aftermarket vendors create huge market demand. According to Market Research Future (MRFR), the global Automotive Tire Market is expected to accrue over USD 260 BN by 2023. During the review period (2017-2023), the market would register a phenomenal CAGR, states MRFR. The year 2017, had been a profitable year for automotive tire manufacturers with much of the growth coming from emerging markets in the Asia Pacific (APAC) region. The demand for the high-performance tire is growing due to its extended uses to mid-range vehicles. Previously...