The global pneumatic tire market size is expected to witness substantial growth owing to increasing demand for commercial vehicles and its extensive adoption for outdoor application during the forecast period. Fortune Business Insights, publish this information in its latest report, titled “Pneumatic Tire Market Size, Share & Industry Analysis, By Type (Air Pneumatics, Solid Pneumatics), By Vehicle Type (Passenger Cars, Commercial Vehicles) Others and Regional Forecast, 2019-2026.”
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Increasing Production of Commercial Vehicles to Boost Demand
As per the demographics, the market comprises of several regions such as North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Among the regions, North America is expected to remain at the forefront and gain maximum pneumatic tires market revenue in the forthcoming years. This is attributable to factors such as high production of commercial vehicles along with increasing sales of vehicles across the region. Asia-Pacific, on the other hand, is anticipated to rise owing to growing demand for commercial vehicle during the forecast period. The market in Europe will rise substantially during the projected horizon. This is attributable to factors such as innovation in product by the manufacturers and rising sales of vehicles between 2019 and 2026.
List of the Companies Operating in the Market:
- Continental AG
- Bridgestone Corporation
- Goodyear Tire and Rubber Company
- Trelleborg Group
- Among others
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