Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Tire Flaps Market Size is Expected to Grow from USD 2.59 Billion in 2023 to USD 5.25 Billion by 2033, Growing at a CAGR of 7.32% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on The Global Tire Flaps Market Size, Share, and COVID-19 Impact Analysis, By Type (Rubber Tire Flaps, Plastic Tire Flaps, Metal Tire Flaps), By Sales Channel (OEM, Aftermarket), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis and Forecast 2023 - 2033
The international tire flaps market refers to the business that manufactures and sale of protective parts intended to stop tire damage and improve vehicle performance. The main objective is to protect tires from debris and uneven terrain, and by lowering the chance of punctures and blowouts, improve tire longevity and safety. The market growth is driven by the growing awareness of vehicle upkeep and safety. Moreover, development in technology and its high integration in material science boost the market expansion. Beyond that, the government enforced strict rules for vehicle upkeep and insurance, which contributed to the market growth. Further, the rising popularity of EVs and hybrid vehicles also contributes to their market expansion. However, the market growth is hampered by high upfront costs and raw materials price fluctuation.
The rubber tire flaps segment held the largest share of the global tire flaps market in 2023 and is anticipated to grow at a substantial CAGR over the forecast period.
On the basis of the type, the global tire flaps market is classified into rubber tire flaps, plastic tire flaps, and metal tire flaps. Among these, the rubber tire flaps segment held the largest share of the global tire flaps market in 2023 and is anticipated to grow at a substantial CAGR over the forecast period. The segment growth is driven by its exceptional flexibility, affordability, durability, and ideal sustainable option.
The OEM segment dominated the global tire flaps market in 2023 and is projected to grow at a significant CAGR over the forecast period.
On the basis of the sales channel, the global tire flaps market is segmented into OEM, aftermarket. Among these, the OEM segment dominated the global tire flaps market in 2023 and is projected to grow at a significant CAGR over the forecast period. This is due to compliance with safety rules and regulations, ensuring better performance and compatibility.
Asia Pacific is anticipated to hold the largest share of the global tire flaps market over the forecast period.
Asia Pacific is expected to hold the greatest share of the global tire flaps market over the forecast period. The regional market growth is influenced by urbanization, rising disposable incomes, the growing middle class, the presence of key automakers, and a reputable supply chain. Moreover, the fast expansion of the automotive business in nations like China, India, and Japan contributes to the tire flaps market across the region.
North America is projected to grow at the fastest CAGR of the global tire flaps market over the forecast period. The regional market expansion is driven by the strong automotive sector and strict safety laws, and the need for dependable and long-lasting automotive components. Moreover, the United States leads this market in revenue. Another factor supporting the market growth is the regional aftermarket business rising potential, growing emphasis on vehicle maintenance.
Company Profiling
Major vendors in the global tire flaps market are Bridgestone Corporation, Michelin Group, Goodyear Tire & Rubber Company, Continental AG, Pirelli & C. S.p.A., Sumitomo Rubber Industries, Hankook Tire & Technology Co., Yokohama Rubber Company, Toyo Tire Corporation, Cooper Tire & Rubber Company, Apollo Tyres Ltd., Kumho Tire Co., Nokian Tyres, Maxxis International, Giti Tire, Triangle Group, Cheng Shin Rubber Ind. Co., Sailun Group Co., Linglong Tire, Double Coin Holdings, and others.
Key Target Audience
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global tire flaps market based on the below-mentioned segments:
Global Tire Flaps Market, By Type
Global Tire Flaps Market, By Sales Channel
Global Tire Flaps Market, By Regional
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