Automotive and Transportation Automotive Tire Market Business Report Globally | Page 4

Automotive Tire Market
Geographical Analysis of Automotive Tire Market
Geographically, APAC is expected to continue being the largest market for automotive tires in the coming years.
The region comprised over 55% volume share of the market in 2018. The market in the region is primarily driven
by increasing automobile production, rising gross domestic product (GDP), and increasing disposable income of
people in emerging economies, such as China and India. Further, the North American market is also growing
rapidly on account of the growing number of heavy investments (domestic and international) by several
manufacturers in recent years.
Competitive Landscape of Automotive Tire Market
The global automotive tire market was consolidated in nature, with four major players holding around 45% of the
tire sales, globally, in 2018. The market was led by Compagnie Générale des Établissements Michelin, which was
followed Bridgestone Corporation, The Goodyear Tire & Rubber Company, and Continental AG. The dominance of
Compagnie Générale des Établissements Michelin in the world is mainly due to heavy investments by the
company, as well as the growing presence of large dealer network across the globe.
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