Automotive And Transportation

Global electric truck market is growing at a high CAGR due to the increasing adoption of battery-powered trucks for zero emission and sustainability. Furthermore, public and private investments in the development of charging infrastructure to increase the adoption of electric cars and trucks are driving the market forward.

Indonesia's tire market is growing due to rising disposable income and a growing fleet of automobiles. Additionally, increasing two-wheeler sales and favorable macroeconomic conditions are the two key drivers of the Indonesia tire market.

Malaysia's tire market is driven by its expanding automobile production and increasing investment in public transportation. Additionally, the nation's tire market is driven by the increased purchasing power of people and the resulting growth in private vehicle ownership.

Mexico tire market is driven by the high concentration of international tire manufacturers. Also contributing to the market growth is the increasing investments in expanding tire production capacity, along with the growth in vehicle ownership and automobile manufacturing.

South Africa Tire market is gaining significant traction because of the dominant automobile manufacturing industry. Also, the growth of foreign investment in automobile and tire production facilities favors the market's growth.

The global agriculture tire market is driven by the expanding agriculture production due to the growing population and increasing demand for food products. Additionally, favorable government policies and subsidies for acquiring agricultural equipment is also strengthening the market.

Three-wheeler sales in India are growing rapidly due to a lack of transportation infrastructure, particularly in small cities. Furthermore, the country heavily depends on three-wheeled auto-rickshaws to get around because of volatile fuel prices.

UAE tire market has been delivering an outstanding performance. The market’s growth is driven by the increasing demand for automobiles due to the high disposable income and living standards of the people. Additionally, favorable government initiatives and strict tire safety regulations favors the market’s growth.

Japan tire market is driven by the flourishing automobile production in the country. Additionally, the presence of leading OEMs in the country, along with the expanding production capacities of tire manufacturers, is driving the growth of Japan’s tire market.

Iran tire market is being driven primarily by efforts to achieve self-sufficiency and increased automobiles sales. Additionally, the growing demand for passenger cars and infrastructure projects in Iran are driving the growth of the Iranian tire market along with a growing fleet of commercial vehicles as a result of these projects.