The MarkNtel Advisors has released its latest report titled "Global Light Commercial Vehicle Tire Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028." This comprehensive analysis provides valuable insights into the market, including market share data. The report encompasses competitive analysis, geographical research, and recent advancements in the market. Whether you are an investor, researcher, consultant, marketing strategist, or planning to enter the industry in any capacity, this analysis can greatly benefit you.

Global Light Commercial Vehicle Tire Market Definition:

Light commercial vehicle (LCV) tires are generally made for light-duty and heavy-duty trucks and vans. They are designed for traction and strength on and off the road with a load capacity ranging between ½ ton and 1 ton. They are used for various purposes like agricultural transportation, e-commerce, dairy & meat transportation, and others. Light commercial vehicle tires are of two types radial and bias.

Global Light Commercial Vehicle Tire Market Overview

The Global Light Commercial Vehicle Tire Market is projected to grow at a CAGR of around 3.5% during the forecast period, i.e., 2023-28.

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What are the Key Driver in the industry?

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.

Competitive Landscape With Leading Key Players:

The report's analysis of the Global Light Commercial Vehicle Tire market's competitive environment includes thorough profiles of the major industry competitors.

Among these important figures are:

-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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Important Global 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

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Important Report Highlights:

• Historical Data (2018–2021)
• Base Year (2022)
• Market Prospects (2023–2028)
• Business Trends
• Drivers of the Market and Success Factors
• COVID-19's effects
• Value Chain Evaluation
• Comprehensive competitive landscape mapping

As part of the modification, we will give you any specific information you require that is not already covered by the report.

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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