DUBLIN, May 23, 2022--(BUSINESS WIRE)--The "Global Tire Testing Market, By Testing Type (Tensile Test, Tear Test, Adhesion Test, Compression Test, and Fatigue Test), By Sourcing (In House and Outsourcing), By Vehicle Type, By Region, Competition Forecast and Opportunities, 2017-2027" report has been added to ResearchAndMarkets.com's offering.
The global tire testing market is projected to register growth at a significant rate during the forecast period. The market growth can be attributed to the growing use of innovative technologies for tire testing to suit different requirements and strict government regulations about the tire standards to prevent accidents and ensure vehicle safety.
The rising penetration of tires in various end-user industries such as aerospace, automotive, and defense vehicles is creating a demand for tire testing machines to determine the material properties of tires under different conditions, which is anticipated to propel the growth of the global tire testing market.
Rapid industrialization in emerging countries has enhanced the adoption of commercial vehicles such as trucks, tractors, trailers, etc. Increasing purchasing power of the consumers and improvements in their living standards have boosted the sales of luxurious and premium cars and bikes.
Advances in infrastructural development activities in emerging and developed countries are propelling the demand for construction vehicles, propelling the adoption of tire testing equipment. Greater availability of financial assistance to consumers is contributing to rising sales, and the increasing number of quality tire testing techniques are expected to boost the growth of the global tire testing market. Moreover, there has been an increase in investments from market players in the up gradation of machines and automated technology to thoroughly test tires and address the evolving needs of the consumers. Key market players are actively engaging in various forms of partnerships with tire manufacturers and automotive OEMs to expand their consumer base and create new avenues for product development, which is expected to drive the growth of the global tire testing market.
The global tire testing market is segmented by testing type, sourcing, vehicle type, regional distribution, and competitional landscape. Based on the vehicle type, the market is divided into two-wheeler, passenger car, light commercial vehicle, medium & heavy commercial vehicle, and OTR. The passenger car segment is expected to dominate the global tire testing market in the upcoming five years, owing to a surge in sales of passenger cars and changing preferences in vehicle ownership. Based on regional analysis, the Asia-Pacific region is expected to register the fastest growth in the global tire testing market due to the flourishing automotive industry in major economies like China, India, Japan, etc.
Major operating players in the global tire testing market include Calspan Corporation, The Smithers Group Inc., A&D Technology, TUV SUD, Dufournier Technologies, among others.
Years Considered for This Report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F-2027F
Objective of the Study:
To analyze the historical growth in the market size of global tire testing market from 2017 to 2021
To estimate and forecast the market size of global tire testing market from 2022E to 2027F and growth rate until 2027F
To classify and forecast global tire testing market based on testing type, sourcing, vehicle type, regional distribution, and competitional landscape
To identify dominant region or segment in the global tire testing market
To identify drivers and challenges for global tire testing market
To examine competitive developments such as expansions, new services, mergers & acquisitions, etc, in global tire testing market
To identify and analyze the profile of leading players operating in global tire testing market
To identify key sustainable strategies adopted by market players in global tire testing market
In the report, global tire testing market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Tire Testing Market, By Testing Type:
Tire Testing Market, By Sourcing:
Tire Testing Market, By Vehicle Type:
Light Commercial Vehicle
Medium & Heavy Commercial Vehicle
The Smithers Group Inc.
For more information about this report visit https://www.researchandmarkets.com/r/gr8iim
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