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Global Tyre Market Share, Size, Growth, Price, Forecast: By Design: Radial, Bias; By Type: Tube Tyre, Tubeless Tyre; By Season: Winter Tyre, Summer Tyre, All-Season Tyre; By Vehicle Type: Two-Wheeler and Three-Wheeler, Passenger Vehicle, Heavy Commercial Vehicle, Others; By Sales Channel; Regional Analysis; Competitive Landscape; 2023-2028

Global Tyre Market Outlook

In 2022, the global demand for tyres reached nearly USD 314.07 billion, and is expected growth in the forecast period of 2023-2028, growing at a CAGR of 6.3% also is projected to reach USD 453.13 billion by 2028. 

 

Tyre Market

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The global tyre market is being driven by the rising demand of the product across the world. In 2017, China was the leading tyre market accounting for almost 49% of the global tyre industry. China was followed by Europe, United States, India, and Japan as some of the significant tyre markets in the world. China’ s market is aided by its robustly growing car industry. It is one of the largest car markets increasing its share by almost 21% since 2007 and accounted for 30% of the global car industry in 2016. A strong GDP growth and a growing demand for cars in the emerging middle class along with a tax break implemented for cars with smaller engines are driving the increase in car production in China.

 

The tyre industry in India is also projected to be driven by the domestic demand for automobiles. India is expected to become the third largest market for automobiles by 2020. The automobiles industry will also be one of the fastest growing industries in the country. All these factors will aid the growth of the tyre industry in India, with its demand projected to grow between 7% to 9% in the forecast period. The goods and service tax (GST), increased infrastructure activities, and a growing demand are driving the replacement tyre industry in India. The India tyre industry is also being aided by the increasing tyre exports due to a rise in demand from overseas in 2017. India accounted for more than 5% of the global tyre market in 2017.

 

Properties and Applications

Tyre is a thick ring of rubber that is usually inflated and placed over the outer edge or the rim of the vehicle wheel. It provides traction and allows the vehicle to travel over the road more easily. While most tyres are made of natural rubber, tyres have also started to incorporate materials like synthetic rubber, steel wires, fabric, and carbon black.

 

Tyre Market By Segment

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The tyre market is bifurcated on the basis of design into:

  • Radial
  • Bias

 

The market is classified on the basis of type into:

  • Tube Tyre
  • Tubeless Tyre

 

On the basis of season, the market is divided into:

  • Winter Tyre
  • Summer Tyre
  • All-Season Tyre

 

The market is segmented on the basis of vehicle type into:

  • Two-Wheeler and Three-Wheeler
  • Passenger Vehicle
  • Heavy Commercial Vehicle
  • Light and Medium Commercial Vehicle
  • Others

 

On the basis of sales channel, the market is bifurcated into:

  • OEM
  • Aftermarket

 

Tyre Market By Region

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The EMR report analyses the tyre industry in North America, Europe, Latin America, the Middle East and Africa, and the Asia Pacific.

 

Market Analysis

The global tyre market is being driven by the expansion in the global production and sales of vehicles. Rising incomes in emerging economies will lead to an increase in the number of vehicles in use, thus, spurring the growth of the tyre industry. The growing middle class in countries undergoing industrialisation will also aid the tyre market with an increasing vehicle ownership leading to the rising demand for light-weight vehicles tyres. There has been a rise in the production of tyres due to the declining prices of rubber. The replacement tyre industry, in particular, is estimated to see healthy growth in the coming years due to higher profit margins.

 

Segment-wise, the global tyre market was led by the OEM (original equipment manufacturer) tyres, which accounted for more than half of the market in 2018. Globally, tyres find their maximum utility in passenger cars and light trucks. Passenger car/light trucks were followed by applications in commercial vehicles like trucks and off-highway vehicles.

 

The rising demand in the Asia market is projected to drive the tyre industry in the coming year. The Asia tyre industry is not just being driven by the increase in the automobile industry but also by the reduced cost of production. The reduced production costs are due to the lower labour costs and lesser natural rubber content (with more synthetic rubber content) in tyres. With rising automotive production in Latin America and Middle East regions, it is expected to witness robust growth in the two regions.

 

Competitive Landscape

The report gives a detailed analysis of the following key players in the global tyre market, looking into their capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions:

 

  • Bridgestone Corporation
  • Michelin Group
  • Continental Reifen Deutschland GmbH
  • Sumitomo Rubber Industries, Ltd
  • Hankook Tire & Technology
  • Pirelli & C. S.p.A
  • Yokohama Tire Corporation
  • Zhongce Rubber Group Co., Ltd.
  • Maxxis International
  • MRF Limited
  • Others

 

The EMR report provides a SWOT analysis as well as an analysis of Porter’s Five Forces.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Design
  • Type
  • Season
  • Vehicle Type
  • Sales Channel
  • Region
Breakup by Design
  • Radial
  • Bias
Breakup by Type
  • Tube Tyre
  • Tubeless Tyre
Breakup by Season
  • Winter Tyre
  • Summer Tyre
  • All-Season Tyre
Breakup by Vehicle Type
  • Two-Wheeler and Three-Wheeler
  • Passenger Vehicle
  • Heavy Commercial Vehicle
  • Light and Medium Commercial Vehicle
  • Others
Breakup by Sales Channel
  • OEM
  • Aftermarket
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Bridgestone Corporation
  • Michelin Group
  • Continental Reifen Deutschland GmbH
  • Sumitomo Rubber Industries, Ltd
  • Hankook Tire & Technology
  • Pirelli & C. S.p.A
  • Yokohama Tire Corporation
  • Zhongce Rubber Group Co., Ltd.
  • Maxxis International
  • MRF Limited
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface  
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Tyre Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Tyre Historical Market (2018-2022) 
    8.3    Global Tyre Market Forecast (2023-2028)
    8.4    Global Tyre Market by Design
        8.4.1    Radial
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022) 
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Bias
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022) 
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Tyre Market by Type
        8.5.1    Tube Tyre
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022) 
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Tubeless Tyre
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022) 
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    Global Tyre Market by Season 
        8.6.1    Winter Tyre
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022) 
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Summer Tyre
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022) 
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    All-Season Tyre
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022) 
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Tyre Market by Vehicle Type
        8.7.1    Two-Wheeler and Three-Wheeler
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022) 
            8.7.1.3    Forecast Trend (2023-2028)
            8.7.1.4    Breakup by Rim Size
            8.7.1.5    Breakup by Tire Size
        8.7.2    Passenger Vehicle
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022) 
            8.7.2.3    Forecast Trend (2023-2028)
            8.7.2.4    Breakup by Rim Size
            8.7.2.5    Breakup by Tire Size
        8.7.3    Heavy Commercial Vehicle
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022) 
            8.7.3.3    Forecast Trend (2023-2028)
            8.7.3.4    Breakup by Rim Size
            8.7.3.5    Breakup by Tire Size
        8.7.4    Light and Medium Commercial Vehicle
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022) 
            8.7.4.3    Forecast Trend (2023-2028)
            8.7.4.4    Breakup by Rim Size
            8.7.4.5    Breakup by Tire Size
        8.7.5    Others
    8.8    Global Tyre Market by Sales Channel
        8.8.1    OEM
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Aftermarket
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
    8.9    Global Tyre Market by Region
        8.9.1    North America
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2018-2022) 
            8.9.1.3    Forecast Trend (2023-2028)
        8.9.2    Europe
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2018-2022) 
            8.9.2.3    Forecast Trend (2023-2028)
        8.9.3    Asia Pacific
            8.9.3.1    Market Share
            8.9.3.2    Historical Trend (2018-2022) 
            8.9.3.3    Forecast Trend (2023-2028)
        8.9.4    Latin America
            8.9.4.1    Market Share
            8.9.4.2    Historical Trend (2018-2022) 
            8.9.4.3    Forecast Trend (2023-2028)
        8.9.5    Middle East and Africa
            8.9.5.1    Market Share
            8.9.5.2    Historical Trend (2018-2022) 
            8.9.5.3    Forecast Trend (2023-2028)
9    North America Tyre Market Analysis
    9.1    Market by Design
    9.2    Market by Type
    9.3    Market by Season
    9.4    Market by Vehicle Type
    9.5    Market by Sales Channel
    9.6    Market by Country
        9.6.1    United States of America 
            9.6.1.1    Market Share
            9.6.1.2    Historical Trend (2018-2022) 
            9.6.1.3    Forecast Trend (2023-2028)
        9.6.2    Canada
            9.6.2.1    Market Share
            9.6.2.2    Historical Trend (2018-2022) 
            9.6.2.3    Forecast Trend (2023-2028)
10    Europe Tyre Market Analysis
    10.1    Market by Design
    10.2    Market by Type
    10.3    Market by Season
    10.4    Market by Vehicle Type
    10.5    Market by Sales Channel
    10.6    Market by Country
        10.6.1    United Kingdom
            10.6.1.1    Market Share
            10.6.1.2    Historical Trend (2018-2022) 
            10.6.1.3    Forecast Trend (2023-2028)
        10.6.2    Germany
            10.6.2.1    Market Share
            10.6.2.2    Historical Trend (2018-2022) 
            10.6.2.3    Forecast Trend (2023-2028)
        10.6.3    France
            10.6.3.1    Market Share
            10.6.3.2    Historical Trend (2018-2022) 
            10.6.3.3    Forecast Trend (2023-2028)
        10.6.4    Italy
            10.6.4.1    Market Share
            10.6.4.2    Historical Trend (2018-2022) 
            10.6.4.3    Forecast Trend (2023-2028)
        10.6.5    Others
11    Asia Pacific Tyre Market Analysis
    11.1    Market by Design
    11.2    Market by Type
    11.3    Market by Season
    11.4    Market by Vehicle Type
    11.5    Market by Sales Channel
    11.6    Market by Country
        11.6.1    China
            11.6.1.1    Market Share
            11.6.1.2    Historical Trend (2018-2022) 
            11.6.1.3    Forecast Trend (2023-2028)
        11.6.2    Japan
            11.6.2.1    Market Share
            11.6.2.2    Historical Trend (2018-2022) 
            11.6.2.3    Forecast Trend (2023-2028)
        11.6.3    India
            11.6.3.1    Market Share
            11.6.3.2    Historical Trend (2018-2022) 
            11.6.3.3    Forecast Trend (2023-2028)
        11.6.4    ASEAN
            11.6.4.1    Market Share
            11.6.4.2    Historical Trend (2018-2022) 
            11.6.4.3    Forecast Trend (2023-2028)
        11.6.5    South Korea
            11.6.5.1    Market Share
            11.6.5.2    Historical Trend (2018-2022) 
            11.6.5.3    Forecast Trend (2023-2028)
        11.6.6    Australia
            11.6.6.1    Market Share
            11.6.6.2    Historical Trend (2018-2022) 
            11.6.6.3    Forecast Trend (2023-2028)
        11.6.7    Others
12    Latin America Tyre Market Analysis
    12.1    Market by Design
    12.2    Market by Type
    12.3    Market by Season
    12.4    Market by Vehicle Type
    12.5    Market by Sales Channel
    12.6    Market by Country
        12.6.1    Brazil
            12.6.1.1    Market Share
            12.6.1.2    Historical Trend (2018-2022) 
            12.6.1.3    Forecast Trend (2023-2028)
        12.6.2    Argentina
            12.6.2.1    Market Share
            12.6.2.2    Historical Trend (2018-2022) 
            12.6.2.3    Forecast Trend (2023-2028)
        12.6.3    Mexico
            12.6.3.1    Market Share
            12.6.3.2    Historical Trend (2018-2022) 
            12.6.3.3    Forecast Trend (2023-2028)
        12.6.4    Others
13    Middle East and Africa Tyre Market Analysis
    13.1    Market by Design
    13.2    Market by Type
    13.3    Market by Season
    13.4    Market by Vehicle Type
    13.5    Market by Sales Channel
    13.6    Market by Country
        13.6.1    Saudi Arabia
            13.6.1.1    Market Share
            13.6.1.2    Historical Trend (2018-2022) 
            13.6.1.3    Forecast Trend (2023-2028)
        13.6.2    United Arab Emirates
            13.6.2.1    Market Share
            13.6.2.2    Historical Trend (2018-2022) 
            13.6.2.3    Forecast Trend (2023-2028)
        13.6.3    Nigeria
            13.6.3.1    Market Share
            13.6.3.2    Historical Trend (2018-2022) 
            13.6.3.3    Forecast Trend (2023-2028)
        13.6.4    South Africa
            13.6.4.1    Market Share
            13.6.4.2    Historical Trend (2018-2022) 
            13.6.4.3    Forecast Trend (2023-2028)
        13.6.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis (HS Code - 4011)

    16.1    Major Importing Countries
        16.1.1    By Volume
        16.1.2    By Value
    16.2    Major Exporting Countries
        16.2.1    By Volume
        16.2.2    By Value
17    Price Analysis
18    Competitive Landscape

    18.1    Market Structure
    18.2    Company Profiles
    18.2.1    Bridgestone Corporation
        18.2.1.1    Company Overview
        18.2.1.2    Product Portfolio
        18.2.1.3    Demographic Reach and Achievements
        18.2.1.4    Certifications
    18.2.2    Michelin Group
        18.2.2.1    Company Overview
        18.2.2.2    Product Portfolio
        18.2.2.3    Demographic Reach and Achievements
        18.2.2.4    Certifications
    18.2.3    Continental Reifen Deutschland GmbH
        18.2.3.1    Company Overview
        18.2.3.2    Product Portfolio
        18.2.3.3    Demographic Reach and Achievements
        18.2.3.4    Certifications
    18.2.4    Sumitomo Rubber Industries, Ltd
        18.2.4.1    Company Overview
        18.2.4.2    Product Portfolio
        18.2.4.3    Demographic Reach and Achievements
        18.2.4.4    Certifications
    18.2.5    Hankook Tire & Technology
        18.2.5.1    Company Overview
        18.2.5.2    Product Portfolio
        18.2.5.3    Demographic Reach and Achievements
        18.2.5.4    Certifications
    18.2.6    Pirelli & C. S.p.A
        18.2.6.1    Company Overview
        18.2.6.2    Product Portfolio
        18.2.6.3    Demographic Reach and Achievements
        18.2.6.4    Certifications
    18.2.7    Yokohama Tire Corporation
        18.2.7.1    Company Overview
        18.2.7.2    Product Portfolio
        18.2.7.3    Demographic Reach and Achievements
        18.2.7.4    Certifications
    18.2.8    Zhongce Rubber Group Co., Ltd.
        18.2.8.1    Company Overview
        18.2.8.2    Product Portfolio
        18.2.8.3    Demographic Reach and Achievements
        18.2.8.4    Certifications
    18.2.9    Maxxis International
        18.2.9.1    Company Overview
        18.2.9.2    Product Portfolio
        18.2.9.3    Demographic Reach and Achievements
        18.2.9.4    Certifications
    18.2.10    MRF Limited
        18.2.10.1    Company Overview
        18.2.10.2    Product Portfolio
        18.2.10.3    Demographic Reach and Achievements
        18.2.10.4    Certifications
    18.2.11    Others
19    Key Trends and Developments in the Market


List of Key Figures and Tables

1.    Global Tyre Market: Key Industry Highlights, 2018 and 2028
2.    Global Tyre Historical Market: Breakup by Design (USD Million), 2018-2022
3.    Global Tyre Market Forecast: Breakup by Design (USD Million), 2023-2028
4.    Global Tyre Historical Market: Breakup by Type (USD Million), 2018-2022
5.    Global Tyre Market Forecast: Breakup by Type (USD Million), 2023-2028
6.    Global Tyre Historical Market: Breakup by Season (USD Million), 2018-2022
7.    Global Tyre Market Forecast: Breakup by Season (USD Million), 2023-2028
8.    Global Tyre Historical Market: Breakup by Vehicle Type (USD Million), 2018-2022
9.    Global Tyre Market Forecast: Breakup by Vehicle Type (USD Million), 2023-2028
10.    Global Tyre Historical Market: Breakup by Sales Channel (USD Million), 2018-2022
11.    Global Tyre Market Forecast: Breakup by Sales Channel (USD Million), 2023-2028
12.    Global Tyre Historical Market: Breakup by Region (USD Million), 2018-2022
13.    Global Tyre Market Forecast: Breakup by Region (USD Million), 2023-2028
14.    North America Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
15.    North America Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Europe Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Europe Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Asia Pacific Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Asia Pacific Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Latin America Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Latin America Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Middle East and Africa Tyre Historical Market: Breakup by Country (USD Million), 2018-2022
23.    Middle East and Africa Tyre Market Forecast: Breakup by Country (USD Million), 2023-2028
24.    Major Importing Countries by Volume
25.    Major Exporting Countries by Volume
26.    Major Importing Countries by Value
27.    Major Exporting Countries by Value
28.    Global Tyre Market Structure

Key Questions Answered in the Report

In 2022, the global tyre market attained a volume of nearly USD 314.07 billion.

The market is projected to grow at a CAGR of 6.3% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 453.13 billion by 2028.

The major drivers of the market include the thriving automobile industry, rising disposable incomes, increasing population, globalisation and industrialisation, rising demand from the developing regions, and growing technological advancements.

The key trend guiding the growth of the tyre market is the rapidly rising automotive production globally.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Radial and bias are the major design segments of the product in the market.

Tube tyre and tubeless tyre are the major types of tyres in the market.

On the basis of season, the market is divided into winter tyre, summer tyre, and all-season tyre.

The vehicle types in the market include two-wheeler and three-wheeler, passenger vehicle, heavy commercial vehicle, and light and medium commercial vehicle, among others.

The market uses both OEM and aftermarket sales channels for the product.

The key players in the market include Bridgestone Corporation, Michelin Group, Continental Reifen Deutschland GmbH, Sumitomo Rubber Industries, Ltd, Hankook Tire & Technology, Pirelli & C. S.p.A, Yokohama Tire Corporation, Zhongce Rubber Group Co., Ltd., Maxxis International, and MRF Limited, among others.

Analyst Review

The global tyre market attained a volume of USD 314.07 billion in 2022 driven by growing demand from the developing regions and rising technological advancements. The market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 6.3%. The tyre market is projected to reach USD 453.13 billion by 2028.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Radial and bias are the major design segments of the product in the market. Tube tyre and tubeless tyre are the major types of tyres in the market. On the basis of season, the market is divided into winter tyre, summer tyre, and all-season tyre. The vehicle types in the market include two-wheeler and three-wheeler, passenger vehicle, heavy commercial vehicle, and light and medium commercial vehicle, among others. The market used both OEM and aftermarket sales channels for the product. The major regional markets for tyres are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the market include Bridgestone Corporation, Michelin Group, Continental Reifen Deutschland GmbH, Sumitomo Rubber Industries, Ltd, Hankook Tire & Technology, Pirelli & C. S.p.A, Yokohama Tire Corporation, Zhongce Rubber Group Co., Ltd., Maxxis International, and MRF Limited, among others.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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