Global Automotive Tires Market Size study, by Application (Truck/Bus Passenger Car Radi... - 0 views
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aado lfst01 on 08 Aug 18Global Automotive Tires Market valued approximately USD 329 billion in 2016 is anticipated to grow with a healthy growth rate of more than 6.40% over the forecast period 2017-2025. The Global automotive tires market is influenced by several factors which impact the growth of the market. High demand for replacement tires, increasing demand for two wheelers and commercial vehicles, higher demand for low rolling resistance tires, higher demand for SUVs, rising production of tires due to rising automotive industry, growth in the number of automobiles per capita ownership especially among middle class consumers, increasing research and technological developments to make tires more efficient in order to satisfy the rising demand for energy efficient and high quality tires, reduction in rubber prices and growing demand for passenger vehicles are few of the many influencers contributing to the growth of the global automotive tire market. Also, there are few factors which pose challenges to the growth of the global automotive tire market, such as, decline in export, incorrect government administration and strict regulations and fluctuations in the availability of raw material and their prices.