The latest report by MarkNtel Advisors, titled “Light Commercial Vehicle Tire Market” Size study report 2023-28 provides an in-depth examination of revenue growth, market definition, segmentation, industry potential, and influential trends to help comprehend the market’s future outlook and existing prospects. Light Commercial Vehicle Tire Market Share, Size, and Industry Analysis. By Vehicle Type (Light Truck, Light Bus, Pickup Trucks and Vans), By Demand (OEM, Replacement), By Tire Type (Radial, Bias). The Global Light Commercial Vehicle Tire Market is likely to grow at around 3.5% CAGR during the forecast period, i.e., 2023-28.
Key Highlights of the Market Report:
- Detailed overview of the market share
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape of Light Commercial Vehicle Tire Market
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising market growth
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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.
Light Commercial Vehicle Tire Market Segmentation
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”
-15.1-16"
-16.1" to 17"
-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
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia Pacific
Click here for a more detailed explanation: https://www.marknteladvisors.com/research-library/global-light-commercial-vehicle-tire-market.html
Major Key Players in Light Commercial Vehicle Tire Market research report:
-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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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