Global Automotive Tire Market

The synthetic rubber and fiber refer to artificial elastomers that are produced via the polymerization of a variety of petroleum-based monomers. The synthetic rubber and fibers have superior elastic properties and greater durability. The main types of synthetic rubber and fibers are synthetic fibers, styrene-butadiene rubber (sbr), polybutadiene (BR), ethylene propylene (EPDM), and other types of synthetic rubber and fibers. Synthetic fibers are man-made textile fibers, including those made from natural materials (such as rayon and acetate from cellulose or regenerated protein fibers from zein or casein) and fully synthetic fibers (such as nylon or acrylic fibers). The applications involved are non-tire automotive, footwear, tire, construction, and other applications. The distribution channels are offline and online. The synthetic rubber and fibers market research report is one of a series of new reports from The Business Research Company that provides synthetic rubber and fibers market statistics, including synthetic rubber and fibers industry global market size, regional shares, competitors with a synthetic rubber and fibers market share, detailed synthetic rubber and fibers market segments, market trends and opportunities, and any further data you may need to thrive in the synthetic rubber and fibers industry. This synthetic rubber and fibers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry. The global synthetic rubber and fibers market grew from $285.65 billion in 2022 to $307.6 billion in 2023 at a compound annual growth rate (CAGR) of 7.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The synthetic rubber and fibers market is expected to grow to $403.27 billion in 2027 at a CAGR of 7.0%. Technology is expected to be a continued driver of market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period. For example, technologies such as Green Tires, where 20–30% of a vehicle's fuel consumption is related to tire performance, took off during this period. Green tires offer wet grip, durability, and low rolling resistance, reducing fuel consumption by 5–7%. Thus, technological advances that enabled improved performance and reduced fuel consumption contributed to the market growth. Rising geopolitical tensions had a negative impact on the synthetic rubber and fiber markets during the historic period. Repercussions of geopolitical tensions include sanctions on Russia, trade protectionism, and heightened military tensions in the Middle East. Many countries place trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. For instance, the US imposed tariffs on $550 billion worth of Chinese goods, including chemicals and plastics, as of January 2020. Continued violence and terrorism in the Middle East and other parts of the world are also expected to have a negative impact on the market. Many manufacturers have started to use more synthetic than natural rubber because falling crude oil prices have led to lower prices. Synthetic rubber prices dropped 15% in Europe and 5% in the USA in the second quarter compared to a year earlier. The synthetic rubber supply was consistent and more affordable than natural rubber during the studied period. According to estimates, European manufacturers now use 60% synthetic rubber and 40% natural rubber for manufacturing products associated with rubber. For instance, according to a report by the Rubber World, the global synthetic rubber market is expected to reach 21.2 million metric tons by 2024. Major companies in the synthetic rubber and fibers market include Sinopec Limited, Mitsubishi Chemical Holdings Corp, Exxon Mobil, Lotte Chemical Corp, Odebrecht Engenharia E Construcao Sa, Teijin Ltd., Asahi Kasei Corporation, SK Innovation Co, GS Caltex Corporation, and Lenzing AG. Asia-Pacific was the largest region in the synthetic rubber and fibers market in 2022. Western Europe was the second-largest region in the synthetic rubber and fibers market. The regions covered in the synthetic rubber and fibers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the synthetic rubber and fibers market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The synthetic rubber and fiber market consists of the sales of neoprene, buna rubbers, and butyl rubbers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global synthetic rubber and fibers market is segmented - 1) By Type: Synthetic Fibers, Styrene Butadiene Rubber (SBR), Polybutadiene (BR), Ethylene Propylene (EPDM), Other Synthetic Rubber and Fibers 2) By Application: Non-Tire Automotive, Footwear, Tire, Construction, Other Applications 3) By Distribution Channel: Offline, Online

Styrene-butadiene rubber is a synthetic rubber derived from the co-polymers styrene and butadiene. These materials have good abrasion resistance and good age stability when protected by additives. The main product types of styrene-butadiene rubber are emulsion type and solution type. Emulsions are mixtures composed of two or more liquid types, where one is like tiny droplets of a tiny or even ultramicroscopic size and is distributed among the others. The various applications involved are automotive tires, footwear, polymer modification, adhesives, and other applications. The distribution channels are direct/institutional sales, retail sales, and other channel sales. The styrene-butadiene rubber market research report is one of a series of new reports from The Business Research Company that provides styrene-butadiene rubber market statistics, including global market size, regional shares, competitors with a styrene-butadiene rubber market share, detailed styrene-butadiene rubber market segments, market trends and opportunities, and any further data you may need to thrive in the styrene-butadiene rubber industry. This styrene-butadiene rubber market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global styrene butadiene rubber (SBR) market size will grow from $35.7 billion in 2022 to $37.79 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global styrene butadiene rubber (SBR) market size is expected to grow from $46.55 billion in 2027 at a CAGR of 5.4%. Increased use of Styrene-butadiene rubber in tire manufacturing has contributed to the growth of the SBR market. Styrene-butadiene rubber is one of the key elements in tire manufacturing. Styrene and butadiene monomers are a blend of styrene and butadiene monomers that have natural rubber-like properties. Along with that, they have unique characteristics such as abrasion resistance, perfect impact strength, good resilience, and high tensile strength, which permit them to be suitable for high-end tire manufacturing. Growing sales of automobiles in recent years have led to increased use of SBR by the automobile industry. According to TrueCar Inc., an automotive pricing and information website for new and used car buyers, indicated that in September 2020, sales of new vehicles reached 1,221,092 units. This has led to an increased demand for SBR from the end-use industry, thus driving the market. Safety hazards have always been a major challenge in the styrene-butadiene rubber industry. Due to its potential hazards, butadiene is not sold to customers directly, but it is used in the manufacture of polymers and elastomers. Butadiene is highly volatile and low-water soluble. Long-term exposure to butadiene is detrimental to human health. Exposure to high concentrations can result in damage to the central nervous system, blurred vision, nausea, headache, fatigue, decreased blood pressure, and coma. According to the International Agency for Research on Cancer, 1,3-Butadiene has been listed as a possible carcinogen. Major companies in the styrene-butadiene rubber industry are increasingly investing in artificial intelligence (AI) to enhance their decision-making abilities and thus drive profits. The companies in this industry gather huge amounts of raw data relating to the working of plants and other infrastructure through a large number of sensors placed across the production site. Using big data analytics, companies can detect sensible patterns, which can allow them to quickly react to unwanted changes or potential defects, thus saving costs. AI allows companies to make better operational decisions. Companies such as Zhongce Rubber Group and Yokohama Rubber have been increasingly investing in AI technology to have a centralized method of data management and support data integration across multiple applications. In September 2022, Naftna Industrija Srbije (NIS), a Serbian oil and gas company received permission from the executive of the European Union ‘European Commission’ to acquire HIP-Petrohemija LLC Pancevo (HIPP) for an undisclosed amount. As a result, NIS aims to build HIP Petrohemija through modernization of basic production capacities, development of new plants and improving energy and business efficiency. HIP-Petrohemija LLC Pancevo (HIPP) is a Serbian petrochemicals and synthetic rubber manufacturer. Major players in the styrene-butadiene rubber market are Asahi Kasei, Lanxess, Bridgestone, Michelin, China Petroleum & Chemical, Jsr, The Goodyear Tire & Rubber, Sinopec, Eastman, and SIBUR. Asia-Pacific was the largest region in the styrene-butadiene rubber market in 2022. Western Europe was the second-largest region in the global styrene-butadiene rubber market. The regions covered in the global styrene-butadiene rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the styrene-butadiene rubber market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The styrene-butadiene rubber market consists of the sales of hot styrene-butadiene rubbers, cold styrene-butadiene rubbers, and solution styrene-butadiene rubbers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global styrene butadiene rubber (SBR) market is segmented - 1) By Product Type: Emulsion Type, Solution Type 2) By Application: Automotive Tire, Footwear, Polymer Modification, Adhesives, Other Applications 3) By Distribution Channel: Direct/Institutional Sales, Retail Sales, Other Distribution Channels

Rubber products refers to a collective term for all the goods made from a flexible material that can be vulcanized and polished into a variety of items and is made from the latex sap of trees, particularly those in the genera Hevea and Ficus. Rubber products are used to produce tires and retreading, rubber hoses and belting, rubber sealants, and all other rubber products which have domestic and industrial applications. The main types of rubber products are tire, hoses and belting, and other rubber products. A tyre, sometimes known as a tyre, is a ring-shaped element which covers the rim of a wheel to carry a vehicle’s weight from the axle to the earth while also providing grip on the ground over which the wheel moves. The different processes include molded, extruded, fabricated, latex-based, others and is used in various sectors such as construction & infrastructure, automotive, electrical & electronics, others. The rubber products market research report is one of a series of new reports from The Business Research Company that provides rubber products market statistics, including rubber products industry global market size, regional shares, competitors with a rubber products market share, detailed rubber products market segments, market trends and opportunities, and any further data you may need to thrive in the rubber products industry. This rubber products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global rubber products market grew from $374.37 billion in 2022 to $400.07 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rubber products market is expected to grow to $503.79 billion in 2027 at a CAGR of 5.9%. Technological advancement is expected to be a continued driver of market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period. For example, technologies such as ”Green Tires", where 20-30% of a vehicle'’s fuel consumption is related to tire performance, took off during this period. Green Tires offer wet grip, durability and low rolling resistance, reducing fuel consumption by 5-7%. Thus, technological advancement which enabled improved performance, reduced fuel consumption contributed to the market growth. The outbreak of Corona virus disease (COVID-19) has acted as a massive restraint on the rubber products manufacturing market in 2022 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of '‘lock down'’ and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the rubber products manufacturing market will recover from the shock across the forecast period as it is a '‘black swan'’ event and not related to ongoing or fundamental weaknesses in the market or the global economy. Computer simulation and 3D printing technology is expected to have a significant impact on the rubber product manufacturing industry. Increasing number of companies are adopting 3D technology to design and develop rubber products. Software aided system offers 3D presentations on production line processes, including potential fault lines and also provides control on the manufacturing process. For example, Stratasys develops 3D printing technologies to produce automotive tires that can be customized to different levels of hardness, and elongation. Major companies in the rubber products market include The Michelin Group, Bridgestone Corporation, Continental AG, Good Year Tire & Rubber Company, Sumitomo Rubber Group, The Hankook Tire group, Pirelli & C SpA, Yokohama Rubber Company Ltd., Toyo Tire & Rubber Co Ltd and Toyota Tsusho. Asia-Pacific was the largest region in the rubber products market in 2022. North America was the second largest region in the rubber products market. The regions covered in the rubber products report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rubber products market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam. The rubber products market consists of sales of pacifiers, clothes, mastication, tapping, and compression.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global rubber products market is segmented - 1) By Type: Tire, Hoses And Belting, Other Rubber Product 2) By Process: Molded, Extruded, Fabricated, Latex-based, Other Processes 3) By End-User Industry: Construction & Infrastructure, Automotive, Electrical & Electronics, Other End Users Subsegments Covered: Radial Tires, Bias Tires, Rubber Hoses, Rubber Belts

Passenger car aftermarket refers to services that provide manufacturing, remanufacturing, distribution, retailing, and installation of replacement, equipment, service repair, and automotive accessories. The main types of passenger car aftermarket are tires, batteries, brake parts, filters, body parts, lighting, wheels, exhaust components, turbochargers, and others. A tire, sometimes known as a tire, is a ring-shaped device that covers the rim of a wheel to carry a vehicle's load from the axle to the ground while also providing grip on the surface over which the wheel moves. The different Certifications include genuine parts, certified parts, and uncertified parts and are available through various distribution channels such as retailers (OEMs, repair shops), wholesalers, and distributors. The passenger car aftermarket market research report is one of a series of new reports from The Business Research Company that provides passenger car aftermarket market statistics, including passenger car aftermarket industry global market size, regional shares, competitors with a passenger car aftermarket market share, detailed passenger car aftermarket market segments, market trends and opportunities, and any further data you may need to thrive in the passenger car aftermarket industry. This passenger car aftermarket market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global passenger cars after market market grew from $226.33 billion in 2022 to $238.18 billion in 2023 at a compound annual growth rate (CAGR) of 5.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The passenger cars after market market is expected to grow from $290.21 billion in 2027 at a CAGR of 5.1%. Increasing the average lifespan of a car is one of the major drivers of the passenger car aftermarket as it leads to an increase in consumers’ regular maintenance and scheduled servicing of the vehicle. The lifespan of the car describes the maximum service life in terms of mileage and time. Changing wheels, batteries, spark plugs, and air filters play a significant role in prolonging the life of a vehicle. According to IHS automotive Markit in 2021, the typical age of cars on the road in the US increased to 12.1 years from 11.9 years old in 2020. Thus, increasing the average lifespan of a car is propelling a passenger car aftermarket. Many companies are offering extended warranties to third parties on vehicle parts or services which in turn is hampering the growth of independent service providers. Extended warranties are given on a vehicle part/service to increase the lifetime of a vehicle which leads to free service or discounts for the consumer. Since all warranty repairs are performed by the OEM (Original Equipment Manufacturers) only, the aftermarket sales and services market which is generated majorly from dealer service centers suffers a loss. According to the Motor & Equipment Manufacturers Association (MEMA), in California for all light-duty vehicles extended warranties did not affect independent repair shops. The passenger car aftermarket is using 3D printing technology also called Additive Manufacturing (AM) to make high-quality off-the-shelf car parts using 3D printers that are capable of printing in metals and alloys. 3D printing works by making a virtual 2D object in the software and constructing the 3D framework by using the printer. The use of 3D printing in producing automobile parts increases efficiency and raises the production standards of companies. Companies (original equipment manufacturers) such as General Motors, BMW, Ford, and Porsche have already started investing in this trend. The industry is regulated by several regulations governed by multiple international and country-specific agencies. One example of a such regulatory body is the National Highway Traffic Safety Administration (NHTSA) of the U.S. Standard number 108 of section 571 under Title -49 "Transportation" mentioned in the Code of Federal Regulations (CFR), states the requirements for original and replacement lamps, reflective devices, and associated lighting equipment for passenger cars as well as other multipurpose passenger vehicles. As defined in CFR, the purpose of section 571 is to set regulatory standards relating to lighting equipment in vehicles to be followed by motor vehicles including passenger cars. The standards also specify points where equipment such as Headlamps should be mounted in vehicles to make them easily visible on public roads both in daylight and in darkness or other conditions of reduced visibility thus reducing traffic accidents and deaths and injuries. In October 2021, Motus, Toyota, a South Africa-based automotive company, acquired FAI Automotive PLC. As a result of the acquisition, Motus will strengthen its international presence in the UK and expand its aftermarket parts business. FAI Automotive plc is a UK-based distributor of premium aftermarket automotive components. It is a leading supplier of high-quality engine and chassis components to the UK and international aftermarket, providing repair solutions for a wide range of vehicles Major players in the passenger car aftermarket market are Denso Corporation, Robert Bosch Gmbh, Continental AG, 3M company, Delphi Automotive PLC., ZF friedrichshafen AG, Magneti Marelli S.p.A, Cooper tire & Rubber Company, Federal -Mogul Corporation, Goodyear tire & rubber company, Aisin Seiki Co., Valeo, Sumitomo Electric Industries Ltd., Aptiv PLC., MAHLE GmbH, Schaeffler AG, ACDelCo., Mobileye, Eaton, Schaeffler Technologies AG, Lear Corporation, Yazaki Corp., Akebono Brake Corporation, American Axle & Manufacturing, Bridgestone Corporation, Gates Corporation, Hyundai Mobis Co. Ltd., Kumho Tires, Exide Technologies and Pirelli & C. S.p.A. Asia-Pacific was the largest region in the passenger car aftermarket market in 2022. North America was the second-largest region in the global passenger car aftermarket market report. The regions covered in the global passenger car aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the passenger car aftermarket report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The passenger car aftermarket market includes revenues earned by entities by providing services such as manufacturing, distribution, retailing, installation, and remanufacturing of all vehicle parts and accessories. Revenues include fees, interest payments, commissions or transaction charges. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales along the supply chain or as part of other products. The global passenger cars after market market is segmented - 1) By Type: Tires, Battery, Brake parts, Filters, Body parts, Lighting, Wheels, Exhaust components, Turbochargers, Other Types 2) By Distribution Channel: Retailers (OEM's, Repiar Shops), Wholesalers & Distributors 3) By Certifiations: Genuine Parts, Certified Parts, Uncertified Parts

The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, supply, retail, and installation of all vehicle parts, tools, machines, and accessories for light and heavy vehicles, after the sale of the automobile by the OEM (original equipment manufacturer). Aftermarket parts, also called generic parts or non-OEM parts, are made by a manufacturer other than the vehicle's original manufacturer. These parts perform the same function as the original part and can be utilized as a replacement for original parts during repair and maintenance. The main product types in the automotive aftermarket market are tires, batteries, brake parts, filters, body parts, lighting and electronic components, wheels, exhaust components, and turbochargers. These products are used in the maintenance and repair process of automobiles. By certification outlook, the main types of automotive aftermarket products are genuine parts, certified parts, and uncertified parts. Automotive aftermarket products are mainly used in passenger cars and commercial vehicles. These products are mainly sold through offline and online distribution channels. The automotive aftermarket research report is one of a series of new reports from The Business Research Company that provides automotive aftermarket statistics, including automotive aftermarket industry global market size, regional shares, competitors with automotive aftermarket share, detailed automotive aftermarket segments, market trends and opportunities, and any further data you may need to thrive in the automotive aftermarket industry. This automotive aftermarket research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global automotive aftermarket market size grew from $352.39 billion in 2022 to $411.81 billion in 2023 at a compound annual growth rate (CAGR) of 16.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive aftermarket market size is expected to grow to $727.99 billion in 2027 at a CAGR of 15.3%. Increasing sales of pre-owned and new vehicles are driving the automotive aftermarket market. For instance, as of 2021, consumers’ preference to purchase cars has almost reached pre-COVID-19 levels, mainly supported by demand in the United States and China, with new cars at 94% and used cars at 97% compared to pre-COVID-19 levels. In addition, there has been a significant increase in purchase intent for electric vehicles. So, the increasing preference for new and pre-owned vehicles is driving the demand for automotive aftermarket. Technology advancement is a key trend gaining popularity in the automotive aftermarket market. Automotive aftermarket companies are increasingly using digital technologies and going online. For instance, in 2020, Continental, a technology company offering solutions to the automotive industry, introduced a online portal for the automotive aftermarket. It helps to easily identify the suitable spare parts from the range of offer by workshops and dealers. In 2021, Spiffy, a mobile car care, technology, and services company, announced a partnership with RepairPal, an auto repair network. With this partnership, Spiffy fleet customers can access independent auto repair shops in RepairPal’s network. RepairPal’s is a US-based company that offers car owners with free car repair estimation and relates them with reliable shops that accurate fair prices, quality parts. Major players in the automotive aftermarket market are 3M Multinational conglomerate company, Continental AG, Delphi Automotive PLC, Federal-Mogul Corporation, COOPER TIRE & RUBBER COMPANY, Magneti Marelli S.p.A., Robert Bosch GmbH, Denso Corporation, ZF Friedrichshafen AG, AISIN SEIKI CO., LTD., Royal Dutch Shell PLC, Lear Corporation, Exide Technologies, Inc., Johnsons Controls Inc., and Goodyear Tire & Rubber Company. Asia-Pacific was the largest region in the automotive aftermarket market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive aftermarket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the Automotive Aftermarket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The automotive aftermarket includes revenue earned by entities by vehicle parts, equipment, replacement tires, service repair, collision repair and accessories. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global automotive aftermarket market is segmented - 1) By Types: Tire, Battery, Brake Parts, Filters, Body Parts, Lighting and Electronic Components, Wheels, Exhaust Components, Turbochargers 2) By Vehicle Type: Passenger Cars, Commercial Vehicles 3) By Certification Outlook: Genuine Parts, Certified Parts, Uncertified Parts 4) By Distribution Channels: Offline Distribution Channel, Online Distribution Channel

The automotive garage equipment refers to garage equipment, including two and four-post lifts, hydraulic scissor lifts, wheel balancers, wire changer machines, car washers and machines, a smoke meter, and injector cleaner. Basic equipment is required to begin working on a vehicle, and common equipment contains particular sets that enable you to work on more sophisticated repairs. The main types of automotive garage equipment are lifting equipment, body shop equipment, wheel and tyre service equipment, vehicle diagnostic and testing equipment, washing equipment, and others. Lifting equipment is used for raising and lowering loads, as well as any accessories utilized in doing so, such as attachments to support, fix, or anchor the equipment. By installation, the types of automotive garage equipment are mobile and fixed. Automotive garage equipment is used in various vehicle types, such as passenger cars and commercial vehicles. Major applications of automotive garage equipment are in automotive OEM dealerships, franchise stores, and independent garages. The automotive garage equipment research report is one of a series of new reports from The Business Research Company that provides automotive garage equipment statistics, including automotive garage equipment industry global market size, regional shares, competitors with automotive garage equipment shares, detailed automotive garage equipment segments, market trends and opportunities, and any further data you may need to thrive in the automotive garage equipment industry. This automotive garage equipment research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global automotive garage equipment market size grew from $7.58 billion in 2022 to $8.07 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The automotive garage equipment market size is expected to grow to $10.81 billion in 2027 at a CAGR of 7.6%. The advent of autonomous vehicles is significantly contributing to the growth of the automotive garage equipment market. Autonomous vehicles are vehicles that can operate without the assistance of a human driver. Depending on the extent of automation, there are numerous types of self-driving vehicles. The advent of autonomous vehicles is increasing as, in the future, new mobility solutions in the automobile sector are likely to be driven by automation in systems, software, and services. Automotive garage equipment is evolving in response to environmental laws and shifting consumer perceptions for safety and efficiency. For instance, with the help of the cooperative local government, Meituan's autonomous delivery cars, which started operating in Beijing's Shunyi District in early 2020, were found in 15 communities in this district and its surroundings and delivered more than 10,000 orders for a total of 270 days by the end of October 2020. Also, according to Gerber Injury Law, an Arizona-based law firm, the production of self-driving cars is expected to reach 800,000 units worldwide between 2023 and 2030. Therefore, the advent of autonomous vehicles is driving the growth of the automotive garage equipment market. Technological advancements are the key trend in the automotive garage equipment market. The automotive garage equipment market is changing as a result of increased technological advancements, allowing its operators to work more efficiently. Equipment manufacturers are continually developing new technology to aid workshops with their day-to-day operations, making them easier to manage and enhance production. For instance, in November 2020, Cemb, an Italy-based manufacturer of garage equipment, launched Argos Drivethru, a wheel alignment inspection system. In a few seconds, it detects all incoming vehicles that show anomalies and need to be adjusted. Argos Drivethru offers a complete wheel alignment check, including partial toe and steering wheel angle measurements. In December 2021, Ravaglioli, an Italy-based leading manufacturer of garage equipment, partnered with TEXA to expand automotive repair services. Through this partnership, they aim to expand their automotive service offering and collaborate on new product development using integrated technologies. TEXA is an Italy-based provider of multi-brand diagnostic tools, exhaust gas analysers, air conditioning repair stations, and remote diagnosis equipment for passenger cars, motorbikes, trucks, agricultural and construction vehicles, and boats. Major players in the automotive garage equipment market are Gray Manufacturing Company Inc., Snap-On Incorporated, Vehicle Service Group, Robert Bosch, Continental AG, Maha Maschinenbau Haldenwang GmbH & Co., Boston Garage Equipment Ltd., Istobal S.A., Symach, Standard Tools and Equipment, Autec Inc., Ravaglioli S.p.A, The Lincoln Electric Company, CORGHI, Automotive Equipment International (Pty) Ltd., VisiCon Automatisierungstechnik GmbH, Forward Lift Company, and Manatec Electronics Private Limited. Asia-Pacific was the largest region in the automotive garage equipment market in 2022. The regions covered in the automotive garage equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the Automotive Garage Equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The automotive garage equipment market consists of sales of car dent pullers, two-wheeler garage equipment, service station equipment, brake lathe, oil changer, rim straightening machine, frame machines, and auto repair equipment. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global automotive garage equipment market is segmented - 1) By Installation Type: Mobile, Fixed 2) By Vehicle Type: Passenger Cars, Commercial Vehicles 3) By Type: Lifting Equipment, Body Shop Equipment, Wheel and Tire Service Equipment, Vehicle Diagnostic and Testing Equipment, Washing Equipment, Other Types 4) By Application: Automotive OEM Dealerships, Franchise Stores, Independent Garages

A "green tire" refers to a round-shaped part of an automotive tire that has all of its components assembled and is made of environmentally friendly rubber but has not yet been cured or given treads. When compared to other tyres such as semi-aromatic, styrene-butadiene rubbers or polycyclic hydrocarbons, green tyres improve fuel efficiency and lower greenhouse gas emissions. The vehicle types that use green tyres are passenger cars, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The passenger car segment includes green tyres manufactured for passenger vehicles. Green tyres are used in on-road and off-road applications. Green tyres are available in different sizes, such as 10 inches, 10-20 inches, and 20-30 inches. Green tyres are sold through aftermarket and OEM sales channels. The green tyre research report is one of a series of new reports from The Business Research Company that provides green tyre statistics, including green tyre industry global market size, regional shares, competitors with green tyre shares, detailed green tyre segments, market trends and opportunities, and any further data you may need to thrive in the green tyre industry. This green tyre research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry. The global green tires market size grew from $90.81 billion in 2022 to $101.25 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The green tires market size is expected to grow to $157.43 billion in 2027 at a CAGR of 11.7%. The increase in environmental awareness among consumers is driving the green tyre market. To create more awareness among people, many countries, such as the USA, China, South Korea, and Japan, have implemented tyre standards, ratings, labeling, and correct pressure programs. Due to the rising benefits of using green tires, such as eco-friendliness, high durability, fuel efficiency, and carbon emission reductions, consumers are opting for green tyres compared to conventional tires. In 2020, the European Commission published the final European Tyre Labelling Regulation, which provides consumers with awareness by providing information such as fuel efficiency, safety, rolling resistance, wet grip, and external rolling noise to consumers. Therefore, the rise in environmental awareness related to the use of eco-friendly tyres will propel the growth of the green tyre market. Biobased rubber for green tyre manufacturing is a growing trend in the green tyre market. Companies are coming up with new technologies that utilise natural, renewable sources such as corn, grasses, and trees to obtain isoprene, the main ingredient in synthetic rubber. For example, in 2020, Birla Carbon and GranBio Technologies launched a bio-based tyre compound. By incorporating this compound, which is sustainable, bio-derived nanocellulose, into commercial rubber compounds, it can improve tyre rolling resistance and vehicle fuel economy. In February 2021, Goodyear Tire & Rubber Company, a leading multinational tyre manufacturing company headquartered in the USA, acquired Cooper Tire & Rubber Company for around $2.5 billion. This acquisition will help Goodyear Tire & Rubber Company expand its portfolio and provide additional revenue growth opportunities. Cooper Tire & Rubber Company is an American company that manufactures replacement automobile and truck tires, specializing in light truck and SUV segments. Major players in the green tyre market are Michelin, Bridgestone, Goodyear Tire and Rubber, Continental, Hankook, Pirelli, Apollo Tyres Ltd., Cheng Shin Rubber Ind. Co. Ltd., Kumho Tire, Nokian Tyres Plc., ZC Rubber, Sailun Tires, Shandong Linglong Tire Co. Ltd., The Yokohama Rubber Co. Ltd., and Kenda Tires. Europe was the largest region in the green tyre market in 2022. The regions covered in the green tyre market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the Green Tires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The green tire market consists of sales of round tires, bias tires, medium commercial vehicles, and retail sales. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global green tires market is segmented - 1) By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV) 2) By Application: On-Road, Off-Road 3) By Size: <10 Inch, 10-20 Inch, 20-30 Inch 4) By Sales Channel: Aftermarket, OEM 

The automotive tyre pressure monitoring system (TPMS) is an electronic system that monitors the tire's internal air pressure and gives real-time data on tyre pressure. It also helps to warn the driver about the underinflated tires. These are used to monitor the pressure of tyres in vehicles using pressure sensors. The main types of automotive tyre pressure monitoring systems are direct TPMS and indirect TPMS. Direct TPMS uses pressure monitoring sensors within each tyre to monitor specific pressure levels and to provide wheel revolution data from the anti-lock brake system and tyre temperature. The various vehicle types include passenger vehicles, light commercial vehicles (LCV), and heavy commercial vehicles (HCV). The different sales channels for automotive tyre pressure monitoring systems are OEM and aftermarket. The automotive tyre pressure monitoring systems market research report is one of a series of new reports from The Business Research Company that provides automotive tyre pressure monitoring systems market statistics, including automotive tyre pressure monitoring systems industry global market size, regional shares, competitors with an automotive tyre pressure monitoring systems market share, detailed automotive tyre pressure monitoring systems market segments, market trends and opportunities, and any further data you may need to thrive in the automotive tyre pressure monitoring systems industry. This automotive tire pressure monitoring systems market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global automotive tire pressure monitoring system market size grew from $7.25 billion in 2022 to $8.6 billion in 2023 at a compound annual growth rate (CAGR) of 18.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The automotive tire pressure monitoring system market size is expected to grow to $15.74 billion in 2027 at a CAGR of 16.3%. The growing number of accidents is expected to propel the growth of the automotive tyre pressure monitoring systems market over the coming years. Accidents are unexpected, unwanted, and sudden events that are associated with injury or loss of life. The subsequent road fatalities and accidents prompted the regulatory authorities to mandate the installation and employment of tyre pressure monitoring systems in automobiles, thereby promoting the production of automotive tyre pressure monitoring systems. For instance, according to the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA), in the US, about 20,000 people lost their lives in motor vehicle crashes in the first half of 2021, a 20% increase from 2020. Therefore, the growing number of accidents and subsequent road fatalities is driving the growth of the automotive tyre pressure monitoring systems market. Technological advancements have emerged as the key trend gaining popularity in the automotive tyre pressure monitoring systems market. Major companies operating in the automotive TPMS sector are focused on research activities and new product innovations with advanced technologies for market growth. For instance, in December 2020, Continental, a Germany-based automotive parts manufacturing company, launched the ContiConnect Live system, a cloud-based tyre monitoring system equipped with sensor technology. This system will send real-time data on tyre pressure and temperature to the cloud using a central telematics unit and record the operating hours of the tyres as well as the vehicle’s location using GPS. In April 2021, Sensata Technologies, a US-based company that provides sensors and sensor-based solutions, including controllers and software, and other mission-critical products, acquired Xirgo Technologies LLC for $400 million. Through this acquisition, Xirgo will be part of Sensata and expand its business in transportation and logistics end-markets. Xirgo Technologies LLC is a US-based company that develops tyre pressure monitoring systems. Major players in the automotive tire pressure monitoring system market are Continental AG, Sensata Technologies Inc., Denso Corporation, Pacific Industrial Co. Ltd., NXP Semiconductors, Huf Hülsbeck & Fürst GmbH & Co. KG, Nira Dynamics AB, Hamaton Automotive Technology Co. Ltd., ATEQ TPMS, Alligator Ventilfabrik GmbH, Alps Alpine Co. Ltd., Doran Manufacturing, Bartec USA LLC, Dill Air Controls Products, ZF Friedrichshafen AG, and DUNLOP TECH GmbH. North America was the largest region in the automotive tire pressure monitoring system market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive tire pressure monitoring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the automotive tire pressure monitoring system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The automotive tire pressure monitoring systems market consists of sales of Valve Stem TPMS Kits, valve stem type direct TPMS, banded type direct TPMS and accessories. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global automotive tire pressure monitoring system market is segmented - 1) By Type: Direct TPMS, Indirect TPMS 2) By Vehicle Type: Passenger Vehicle, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV) 3) By Sales Channel Type: OEM, Aftermarket