Global Tire Aftermarket, Tire Replacement Market Analysis

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Tire Aftermarket, Tire Replacement Labeling
Norms Drives Market Triton Market Research
presents the Global Tire Aftermarket, Tire
Replacement Market report sectioned by Tire Type
(Radial Tire, Bias Tire), Rim Size (19-21 Inches,
16-18 Inches, 13-15 Inches, More Than 21 Inches),
Distribution Channel (Original Equipment Supplier
OES, Independent Aftermarket IAM), and
Regional Outlook (North America, Asia-Pacific,
Europe, Latin America, Middle East and
Africa). The report further discusses the Market
Summary, Industry Outlook, Key Insights, Impact
of COVID- 19, Porters Five Forces Analysis,
Market Attractiveness Index, Vendor Scorecard,
Key Market Strategies, Drivers, Challenges,
Opportunities, Competitive Landscape, Research
Methodology Scope, Global Market Size,
Forecasts Analysis (2022-2028). Tritons report
suggests that the global market for tire
aftermarket, tire replacement is projected to
surge at a CAGR of 4.43 during the forecast
period 2022-2028.
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etresearch.com/reports/tire-aftermarket-tire-repla
cement-marketrequest- free-sample Tire
aftermarket and replacement are dedicated
replacement tires intended to provide all-around
performance on any vehicle for which they are
sized. Tire labeling norms have become mandatory
in recent times. For instance, each tire in the
United States has a Department of Transportation
(DOT) number that serves as its unique
identification. The final four numbers represent
the week and year the tires were manufactured.
Additionally, the Indian government proposed
mandating tire standards in 2021 to improve fuel
efficiency and
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braking performance on wet roads. Thus, the tire
labeling guidelines are anticipated to support
the development of the tire aftermarket, tire
replacement market. However, uncertainty in the
pricing of automotive raw materials negatively
impacts the global markets progression. Globally,
the Asia-Pacific is expected to emerge as the
fastest-growing region in the tire aftermarket,
tire replacement market. Countries in the region
have a strong manufacturing base, skilled labor,
and special economic zones. Massive demand for
automobiles and automotive components in
countries such as India, China, Thailand,
Indonesia, and Japan drives the market. Besides,
electric vehicle adoption is increasing in China
and other major emerging economies, increasing
the tire replacement demand. The leading
companies thriving in the tire aftermarket, tire
replacement market include Hankook Tire
Technology Co Ltd, Goodyear Tires, MRF, The
Yokohama Rubber Co Ltd, Apollo Tyres, CEAT
Limited, Nexen Tire Corporation, JK Tyre,
Sumitomo Rubber Industries Ltd, Continental AG,
Michelin, Bridgestone Corporation, Toyo Tires,
Pirelli C SpA, and Maxxis. The market is
extremely competitive, with numerous players
investing heavily in product development. For
instance, Bridgestone Americas recently invested
around 500 million in expanding and modernizing
its truck and bus radial (TBR) tire plant.
Another company, Goodyear Tire Rubber,
introduced 16 new sizes of its premium
ultra-high-performance all-season tire. Thus,
with expansions and new product launches, the
competition in the studied market is
high. Contact Us sales_at_tritonmarketresearch.com
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