Passenger tire market is poised to grow substantially till 2025

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Passenger Tire Market is set to see healthy CAGR
during 2019 to 2025 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Passenger Tire Market

• 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.

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• 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.

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Competitive Market Share of Passenger Tire
Market

• 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 RD 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.

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Browse Full Market Research Report On Passenger
Tire Market _at_ http//bit.ly/2OfMk6v Request
for an in-depth table of contents for this
report _at_ http//bit.ly/2K2HjbQ
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