E-Retailing Car Tires Market is expected to grow at a Superior CAGR of 13.5% during 2022-2029 | Size, Tr – openPR | CarTailz

E-retail market for car tires

According to GMI Research, the e-retailing market for car tires is expected to grow at a CAGR of 13.5% from 2022 to 2029.

For additional insights, click to access the full report – https://www.gmiresearch.com/report/automotive-tires-retailing-market-analysis-industry-research/

Factors driving the growth of e-retailing car tire market include growing popularity of sport utility vehicles (SUVs) and multi-purpose vehicles (MPVs), increase in production of passenger cars around the world, increasing consumer preference for online retail platforms and improvements in living standards. Furthermore, the increasing adoption of self-inflating and LRR (LRR) technologies by manufacturers, the proliferation of smartphones, the growing trend towards online shopping around the world, changes in consumer purchasing behavior, and rapid urbanization are some of the additional factors affecting complementing the growth of the e-retailing market for car tires. Furthermore, increasing R&D investments by major players, growing disposable incomes, and rising population growth rates further complement the market growth.

However, the growth of the e-retail car tire market is being hampered by improvements in public transportation systems.

The leading players in the market are eBay Inc., MRF Ltd., Michelin, Rakuten, Inc., Alibaba Group Holding Limited, Asbury Automotive Group, Amazon.com, Inc., Walmart Inc., JD.com, Inc., and among others The Goodyear Tire & Rubber Company.

Based on vehicle type, the passenger car segment is forecast to grow at a significant CAGR during the forecast period

Huge discounts offered by the online retail platforms and new product launches are driving the growth of the segment.

Based on manufacturing, the Radial Tires segment is expected to expand at a robust CAGR during the forecast period

According to the Global Automotive Tires E-Retailing Market Analysis, radial tires that minimize fuel consumption and reduce machine maintenance costs along with the growing demand for heavy-duty vehicles are some of the factors driving the growth of the segment.

Based on the region, the North American region is expected to grow at a remarkable CAGR over the forecast period

The presence of leading players such as eBay Inc., Amazon.com, Inc. and Walmart Inc., government policies to encourage passenger car manufacturing, rapid industrialization, rising population growth rates and high per capita incomes are some of the important factors boosting the market growth in the North American region.

Important Developments

In 2019, The Goodyear Tire & Rubber Company launched its online channel for selling tires in Europe, offering German consumers the ability to purchase tires and schedule installation through Goodyear’s website.
In 2019, Michelin partnered with one of the largest retailers, JD.com, to sell tires online. The two companies planned a seamless integration to set a new benchmark for customer convenience.

market segmentation

Segmentation by tire type

winter tyres
summer tyres
all-season tyres
Other tire types

Segmentation by vehicle type

passenger cars
Light Commercial Vehicles
Heavy commercial vehicles
Other vehicle types

Segmentation after manufacturing

radial tires
bias tires

Segmentation by region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
rest of Europe

The line
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and advisory firm providing market insights and information across 12 major sectors, helping our clients make effective investment and business decisions.

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This version was published on openPR.

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