Automotive Tire Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Automotive Tire Market
The automotive tire market size was valued at USD 44.4 billion in 2023, and the market is now projected to grow from USD 47.26 billion in 2024 to USD 82.77 billion by 2032, exhibiting a CAGR of 7.3% during the forecast period of 2024-2032.
The increasing manufacture and consumption of the passenger and light commercial vehicles are expected to drive the automotive tire market growth. With car usage increasing, high-performance cars are in high demand as many people acquire vehicles.
The growth in automobile sales and manufacturing is may very well could drive the market in the forecast period. Global tire demand will also grow due to the rising sales of passenger cars and light commercial vehicles over the forecast period which may further help to increase the automotive tire market share.
Customers’ needs and expectations include appearance, functionality, durability, and the value for money being offered. The market trend reveals that the requirement of high performance tires is rising when customers are more concerned with conventional tires.
Comprehensive Analysis of Automotive Tire Market
The automotive tire market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by vehicle type, by rim size, by design, & by tire type. The vehicle types include: light commercial vehicle, heavy commercial vehicle, and passenger car. By Rim Size the market can be divided into: 13”-15”, 16”-18”, 19”-21”, and above 21”. By design the market can be fragmented into: radial, and bias. However, by tire type, the market can be bifurcated into: tube, & tubeless.
The Asia Pacific region leads the automotive tire market by benefitting a market size of USD 24.27 billion in 2023 due to the rising daily domestic consumption in the region.
The top players in the market play a crucial role in the industry, assuring industrial prospectus growth and setting market standards. These players include: Bridgestone Corporation (Japan) Michelin (France) Continental AG (Germany) Goodyear Tire and Rubber Company (U.S.) Sumitomo Rubber Industries (Japan) Hankook (South Korea) Pirelli (Italy) Yokohama Rubber Company (Japan) Toyo Tires (Japan) Giti Tire (Singapore) Maxxis (Taiwan) ZC Rubber (China) MRF Tires (India) Apollo Tyres (India)
In January 2023, Sumitomo Rubber Industries worked on enhancing individual tire identification and management systems so that they could achieve enhanced tire traceability.
Segmentation Table
Global Automotive Tire Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Growth Rate CAGR of 7.3% from 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion)
Segmentation By Vehicle Type, By Rim Size, By Design, and By Tire Type
By Vehicle Type Passenger Car
Light Commercial Vehicle
Heavy Commercial Vehicle
By Rim size 13""-15""
16""-18""
190-211""
Above 21 ""
By Design Radial
Bias
By Tire Type Tubeless
Tube
By Region North America (By Vehicle Type, Rim Size, Design, Tire Type, and Country)
- U.S. (By Vehicle Type)
- Canada (By Vehicle Type)
- Mexico (By Vehicle Type)
Europe (By Vehicle Type, Rim Size, Design, Tire Type, and Country)
- U.K. (By Vehicle Type)
- Germany (By Vehicle Type)
- France (By Vehicle Type)
- Rest of Europe (By Vehicle Type)
Asia Pacific (By Vehicle Type, Rim Size, Design, Tire Type, and Country)
- China (By Vehicle Type)
- Japan (By Vehicle Type)
- India (By Vehicle Type)
- South Korea (By Vehicle Type)
- Rest of Asia Pacific (By Vehicle Type)
Rest of the World (By Vehicle Type, Rim Size, Design, Tire Type, and Country)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Key Industry Developments – Mergers, Partnerships, and Collaborations
- 4.2. Distribution Analysis
- 4.3. Porters Five Forces Analysis
- 4.4. Technological Developments
- 4.5. Impact of COVID-19
- 5. Global Automotive Tire OEM Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.2.1. Passenger Car
- 5.2.2. Light Commercial Vehicle
- 5.2.3. Heavy Commercial Vehicle
- 5.3. Market Analysis, Insights and Forecast – By Size
- 5.3.1. 13’’-15’’
- 5.3.2. 16’’-18’’
- 5.3.3. 19’’-21’’
- 5.3.4. Above 21’’
- 5.4. Market Analysis, Insights and Forecast – By Design
- 5.4.1. Radial
- 5.4.2. Bias
- 5.5. Market Analysis, Insights and Forecast – By Tire Type
- 5.5.1. Tube
- 5.5.2. Tubeless
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia-Pacific
- 5.6.4. Rest of the world
- 6. North America Automotive Tire OEM Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.1.1. Passenger Car
- 6.1.2. Light Commercial Vehicle
- 6.1.3. Heavy Commercial Vehicle
- 6.2. Market Analysis, Insights and Forecast – By Size
- 6.2.1. 13’’-15’’
- 6.2.2. 16’’-18’’
- 6.2.3. 19’’-21’’
- 6.2.4. Above 21’’
- 6.3. Market Analysis, Insights and Forecast – By Design
- 6.3.1. Radial
- 6.3.2. Bias
- 6.4. Market Analysis, Insights and Forecast – By Tire Type
- 6.4.1. Tube
- 6.4.2. Tubeless
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.1.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.5.2. Canada
- 6.5.2.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.5.3. Mexico
- 6.5.3.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 7. Europe Automotive Tire OEM Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.1.1. Passenger Car
- 7.1.2. Light Commercial Vehicle
- 7.1.3. Heavy Commercial Vehicle
- 7.2. Market Analysis, Insights and Forecast – By Size
- 7.2.1. 13’’-15’’
- 7.2.2. 16’’-18’’
- 7.2.3. 19’’-21’’
- 7.2.4. Above 21’’
- 7.3. Market Analysis, Insights and Forecast – By Design
- 7.3.1. Radial
- 7.3.2. Bias
- 7.4. Market Analysis, Insights and Forecast – By Tire Type
- 7.4.1. Tube
- 7.4.2. Tubeless
- 7.5. Market Analysis, Insights and Forecast – By Country
- 7.5.1. U.K.
- 7.5.1.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.5.2. Germany
- 7.5.2.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.5.3. France
- 7.5.3.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.5.4. Rest of Europe
- 7.5.4.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 8. Asia Pacific Automotive Tire OEM Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.1.1. Passenger Car
- 8.1.2. Light Commercial Vehicle
- 8.1.3. Heavy Commercial Vehicle
- 8.2. Market Analysis, Insights and Forecast – By Size
- 8.2.1. 13’’-15’’
- 8.2.2. 16’’-18’’
- 8.2.3. 19’’-21’’
- 8.2.4. Above 21’’
- 8.3. Market Analysis, Insights and Forecast – By Design
- 8.3.1. Radial
- 8.3.2. Bias
- 8.4. Market Analysis, Insights and Forecast – By Tire Type
- 8.4.1. Tube
- 8.4.2. Tubeless
- 8.4.3. Market Analysis, Insights and Forecast – By Country
- 8.4.4. China
- 8.4.4.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.4.5. Japan
- 8.4.5.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.4.6. India
- 8.4.6.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.4.7. South Korea
- 8.4.7.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 9. 8.4.7.2.
- 9.1.
- 9.1.1. Rest of Asia Pacific
- 9.1.1.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 10. Rest of The World Automotive Tire OEM Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Vehicle Type
- 10.1.1. Passenger Car
- 10.1.2. Light Commercial Vehicle
- 10.1.3. Heavy Commercial Vehicle
- 10.2. Market Analysis, Insights and Forecast – By Size
- 10.2.1. 13’’-15’’
- 10.2.2. 16’’-18’’
- 10.2.3. 19’’-21’’
- 10.2.4. Above 21’’
- 10.3. Market Analysis, Insights and Forecast – By Design
- 10.3.1. Radial
- 10.3.2. Bias
- 10.4. Market Analysis, Insights and Forecast – By Tire Type
- 10.4.1. Tube
- 10.4.2. Tubeless
- 11. Competitive Analysis
- 11.1. Key Industry Developments
- 11.2. Global Market Ranking Analysis (2022)
- 11.3. Competition Dashboard
- 11.4. Comparative Analysis – Major Players
- 11.5. Company Profiles
- 11.5.1. Bridgestone Corporation (Japan)
- 11.5.1.1. Overview
- 11.5.1.2. Products & Services
- 11.5.1.3. SWOT Analysis
- 11.5.1.4. Recent Developments
- 11.5.1.5. Strategies
- 11.5.1.6. Financials (Based on Availability)
- 11.5.2. Michelin (France)
- 11.5.2.1. Overview
- 11.5.2.2. Products & Services
- 11.5.2.3. SWOT Analysis
- 11.5.2.4. Recent Developments
- 11.5.2.5. Strategies
- 11.5.2.6. Financials (Based on Availability)
- 11.5.3. Continental AG (Germany)
- 11.5.3.1. Overview
- 11.5.3.2. Products & Services
- 11.5.3.3. SWOT Analysis
- 11.5.3.4. Recent Developments
- 11.5.3.5. Strategies
- 11.5.3.6. Financials (Based on Availability)
- 11.5.4. Goodyear Tire and Rubber Company (U.S.)
- 11.5.4.1. Overview
- 11.5.4.2. Products & Services
- 11.5.4.3. SWOT Analysis
- 11.5.4.4. Recent Developments
- 11.5.4.5. Strategies
- 11.5.4.6. Financials (Based on Availability)
- 11.5.5. Sumitomo Rubber Industries (Japan)
- 11.5.5.1. Overview
- 11.5.5.2. Products & Services
- 11.5.5.3. SWOT Analysis
- 11.5.5.4. Recent Developments
- 11.5.5.5. Strategies
- 11.5.5.6. Financials (Based on Availability)
- 11.5.6. Hankook(South Korea)
- 11.5.6.1. Overview
- 11.5.6.2. Products & Services
- 11.5.6.3. SWOT Analysis
- 11.5.6.4. Recent Developments
- 11.5.6.5. Strategies
- 11.5.6.6. Financials (Based on Availability)
- 11.5.7. Pirelli (Italy)
- 11.5.7.1. Overview
- 11.5.7.2. Products & Services
- 11.5.7.3. SWOT Analysis
- 11.5.7.4. Recent Developments
- 11.5.7.5. Strategies
- 11.5.7.6. Financials (Based on Availability)
- 11.5.8. Yokohama Rubber Company(Japan)
- 11.5.8.1. Overview
- 11.5.8.2. Products & Services
- 11.5.8.3. SWOT Analysis
- 11.5.8.4. Recent Developments
- 11.5.8.5. Strategies
- 11.5.8.6. Financials (Based on Availability)
- 11.5.9. Toyo Tires (Japan)
- 11.5.9.1. Overview
- 11.5.9.2. Products & Services
- 11.5.9.3. SWOT Analysis
- 11.5.9.4. Recent Developments
- 11.5.9.5. Strategies
- 11.5.9.6. Financials (Based on Availability)
- 11.5.10. Giti Tire (Singapore)
- 11.5.10.1. Overview
- 11.5.10.2. Products & Services
- 11.5.10.3. SWOT Analysis
- 11.5.10.4. Recent Developments
- 11.5.10.5. Strategies
- 11.5.10.6. Financials (Based on Availability)
- 11.5.11. Maxxis (Taiwan)
- 11.5.11.1. Overview
- 11.5.11.2. Products & Services
- 11.5.11.3. SWOT Analysis
- 11.5.11.4. Recent Developments
- 11.5.11.5. Strategies
- 11.5.11.6. Financials (Based on Availability)
- 11.5.12. ZC Rubber (China)
- 11.5.12.1. Overview
- 11.5.12.2. Products & Services
- 11.5.12.3. SWOT Analysis
- 11.5.12.4. Recent Developments
- 11.5.12.5. Strategies
- 11.5.12.6. Financials (Based on Availability)
- 11.5.13. MRF Tires (India)
- 11.5.13.1. Overview
- 11.5.13.2. Products & Services
- 11.5.13.3. SWOT Analysis
- 11.5.13.4. Recent Developments
- 11.5.13.5. Strategies
- 11.5.13.6. Financials (Based on Availability)
- 11.5.14. Apollo Tyres (India)
- 11.5.14.1. Overview
- 11.5.14.2. Products & Services
- 11.5.14.3. SWOT Analysis
- 11.5.14.4. Recent Developments
- 11.5.14.5. Strategies
- 11.5.14.6. Financials (Based on Availability)
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