Global Tyre Market Report and Forecast 2023-2028

Global Tyre Market Report and Forecast 2023-2028


Market Outlook

According to the report by Expert Market Research (EMR), the global tyre market reached a value of USD 314.07 billion in 2022. Aided by the mounting emphasis on vehicle safety and the proliferation of vehicle production globally, the market is projected to further grow at a CAGR of 6.3% between 2023 and 2028 to reach a value of USD 453.13 billion by 2028.

Tyres, predominantly constructed from rubber, are indispensable components of vehicles, be it cars, bikes, trucks, or aircraft. These circular-shaped, resilient structures are intended to provide traction while bearing the load of the vehicle, ensuring smooth and safe transportation. Their roles extend from offering a comfortable ride and enhancing fuel efficiency to assisting in vehicle performance. Besides the automotive industry, tyres also have applications in industrial and aerospace sectors.

The burgeoning vehicle production worldwide, stimulated by the growing middle-class population and their increasing disposable incomes, has been pivotal in advancing the global tyre market growth. The urban populace, in particular, demonstrates a heightened demand for personal vehicles, leading to a spike in the market. This trend is further augmented by the mounting awareness and importance of regular tyre maintenance and timely replacements to ensure vehicle safety.

The rapid urbanisation and industrialization in emerging economies have invariably contributed to the rise in commercial vehicles, further fuelling the tyre market demand. Heavy-duty trucks, buses, and industrial vehicles have become essential for transportation, logistics, and construction activities. This surge in commercial vehicle usage, in tandem with the rising demand for durable, long-lasting tyres, has fostered market expansion.

Moreover, advancements in tyre technologies are one of the crucial tyre market trends. Innovations such as run-flat tyres, eco-friendly tyres, and the incorporation of smart sensors, are reshaping the landscape of the tyre industry. Manufacturers are ceaselessly investing in R&D, endeavouring to produce tyres that offer better grip, longer lifespan, and improved fuel efficiency.

The burgeoning trend towards electric vehicles (EVs) also offers ample opportunities for the market. With the global shift towards sustainability and reduced carbon emissions, electric vehicles are witnessing unprecedented growth and further adding value to the tyre market size. These vehicles necessitate specialised tyres that can handle the distinct weight distribution and torque characteristics of EVs.

Market Segmentation

The market can be divided based on design, type, season, vehicle type, sales channel, and region.

Market Breakup by Design
  • Radial
  • Bias
Market Breakup by Type
  • Tube Tyre
  • Tubeless Tyre
Market Breakup by Season
  • Winter Tyre
  • Summer Tyre
  • All-Season Tyre
Market Breakup by Vehicle Type
  • Two-Wheeler and Three-Wheeler
  • Passenger Vehicle
  • Heavy Commercial Vehicle
  • Light and Medium Commercial Vehicle
  • Others
Market Breakup by Sales Channel
  • OEM
  • Aftermarket
Market Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global tyre market. Some of the major players explored in the report by Expert Market Research are as follows:
  • 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
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual 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 2032
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

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