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Global Pneumatic Tire Market

Global Pneumatic Tire Market

Submitted by • June 13, 2019

Global Pneumatic Tire Market is expected to reach US$ 287.5 Bn by 2026, registering a CAGR of 7.0% during the forecast period of 2017-2026. A pneumatic tire is also known as the air-filled tire, which is made of an airtight inner core filled with pressurized air. It may absorb the variability of terrain from impacts and cushion the load. Pneumatic tires are in high demand in the automotive market. Pneumatic tires are rubber tires filled with compressed air that increase the tires loading capacity and improve the overall performance of the vehicle. The pneumatic tire markets have witnessed considerable growth mainly due to the significant increase in automobile production and a subsequent rise in the demand for tires in the replacement market. However, the growing trend of retreading tires and variation raw material prices are factors hindering the growth of the market.

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Voted by savita

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