© 2016 Global Market Insights, Inc. USA. All Rights Reserved Fuel Cell Market size worth $25.5bn by 2024 Passenger Tire Market is set to see healthy CAGR during 2019 to 2025: Global Market Insights, Inc.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Asia Pacific will account for a significant share in the passenger tire market share. This can be credited to the rising automobile sales across the region owing to improving disposable income and rising preference for personal mobility solutions. Moreover, the presence of multiple automobile manufacturers across the region with their production facilities along with the availability of low-cost labor, raw materials, and favorable government policies further accentuates the regional demand. Regional Analysis of Passenger Tire Market :

© 2016 Global Market Insights, Inc. USA. All Rights Reserved Application Analysis of Passenger Tire Market :  Innovations in tire manufacturing along with increasing preference for 3D printing techniques are gaining prominence in the industry. The benefits offered by this technology include rapid prototyping and additive manufacturing thereby positively influencing the passenger tire market share. For instance, in 2018, Goodyear showcased its Oxygene tire concept manufactured using Selective Laser Sintering (SLS) technology.  Advancements in technologies along with continuous investments by tire manufacturers to minimize the tire weight and complexity are providing a positive outlook for the passenger tire market share expansion. The rising preference for airless tires owing to benefits offered including lower maintenance, superior durability, and ability to travel across diversified terrain conditions accentuates the industry demand. However, the higher costs associated with the acquisition of such tires are hampering the business share over the study timeframe.

© 2016 Global Market Insights, Inc. USA. All Rights Reserved  Few of the prominent players operating in the passenger tire market share include Michelin, Pirelli, Goodyear Tire & Rubber Company, Continental, and Bridgestone. Industry players are continuously investing in R&D and developing advanced new tires for expanding their market share. For instance, in 2018, Goodyear launched its Assurance TripleMax2 tire with different rim sizes ranging from R14 to R16. Moreover, the HydroTred Technology contributes significantly towards improving the vehicle performance significantly.  Strategic partnerships and joint ventures are some of the major strategies adopted by industry players for improving their business share and cater to a wide customer base. For instance, in 2018, The Goodyear Tire & Rubber Company and Bridgestone Americas, Inc. formed a joint venture named TireHub, LLC for providing U.S. tire retailers and dealers with a wide range of passenger vehicle tires. The notable players operating in the passenger tire market share include CEAT Ltd., Apollo Tyres, Birla Tyres, Hankook Tire, and Nokian Tyres among others. Competitive Market Share of Passenger Tire Market :

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