Global Light Commercial Vehicle Tire Market Size, Share, Analysis, Trends Future & Forecast 2028
MarkNtel Advisors has recently released an all-encompassing report on Global Light Commercial Vehicle Tire Market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.
Forecast 2028: Revealing Light Commercial Vehicle Tire Market Insights and Analysis
The Global Light Commercial Vehicle Tire Market is anticipated to grow at a CAGR of around 3.5% during the forecast period, i.e., 2023-28.
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Key Driver: Thriving Ecommerce and Ridesharing Platforms to Boost the Market Growth
E-commerce is one of the platforms which has experienced a boom despite the economic slowdown in the COVID-19 pandemic. The increased purchasing from online platforms as well as growing home deliveries of products through online purchases has earmarked the requirement of more Light commercial vehicles for the timely delivery of goods to customers. With the increased demand for the LCVs in Europe, North America, etc., from Ecommerce companies, the demand for LCV tires in OEM and replacement would also increase.
In another instance, the ridesharing platforms in Europe, Asia Pacific, etc., have been increasing the demand for passenger vans in the LCV segment. Many of the ridesharing companies such as Uber, Yandex, BlaBla Car, kapten, Bolt, etc. have been working in the region regions like Europe which has increased the demand for passenger vans and with the subsequent increase of the vehicle demand from the respective companies to expand the ridesharing services to the customers the demand for the LCV tires would increase between 2023-2028.
A Comprehensive Overview of Geographical Diversity:
the Global Light Commercial Vehicle Tire Market expands across:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
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Light Commercial Vehicle Tire Market Segmentation Outline:
- By Vehicle Type
- Light Truck
- Light Bus
- Pickup Trucks and Vans
- By Demand
- OEM
- Replacement
- By Tire Type
- Radial
- Bias
- By Rim Size
- Up to 15”
- 1-16"
- 1" to 17"
- 1" to 18"
- Above 18"
- By End Users
- Agricultural Transportation
- Ecommerce
- Dairy & Meat Transportation
- Others
- By Price Range Per Unit
- Up to USD80
- USD81 to USD120
- USD121 to USD200
- Above USD200
Competitive Outlook
Bridgestone Corporation, Compagnie Générale des Établissements Michelin SCA, Continental AG, Goodyear Tire & Rubber Corporation, The Yokohama Rubber Co., Ltd., Toyo Tire Corporation, Pirelli, Hankook Tire & Technology Co., Ltd., Kumho Tire, Sumitomo Rubber Industries, Ltd., Zhongce Rubber Group Co., Ltd., Others.
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