Pneumatic Tire Market Forecasts to 2030 – Global Analysis By Vehicle Type (Off-Road Vehicles, Agricultural Vehicles, Industrial Vehicles, Aircrafts, Four Wheelers, Two Wheelers and Other Vehicle Types), Type (Solid Pneumatics, Air Pneumatics, Radial Tires

Pneumatic Tire Market Forecasts to 2030 – Global Analysis By Vehicle Type (Off-Road Vehicles, Agricultural Vehicles, Industrial Vehicles, Aircrafts, Four Wheelers, Two Wheelers and Other Vehicle Types), Type (Solid Pneumatics, Air Pneumatics, Radial Tires and Other Types) and By Geography


According to Stratistics MRC, the Global Pneumatic Tire Market is accounted for $424.8 billion in 2023 and is expected to reach $786.6 billion by 2030 growing at a CAGR of 9.2% during the forecast period. Pneumatic tires are constructed with an airtight inner core encased in a rubber outer layer, providing elasticity and shock absorption, crucial for ensuring traction, stability, and comfort during vehicle operation. This market encompasses a wide range of tire types, including passenger car tires, commercial truck tires, off-the-road (OTR) tires, and specialty tires tailored for specific applications like agriculture or aviation. Pneumatic tires are essential for providing traction, stability, and comfort, enhancing vehicle performance and safety on different road surfaces.

According to the data provided by the National Highway Traffic Safety Administration (NHTSA), there have been forty thousand deaths in the U.S. on an annual basis on road accidents.

Market Dynamics:

Driver:

Increasing vehicle ownership

As more individuals and businesses acquire vehicles for personal and commercial use, there is a consequent need for tires to equip these vehicles. Rising vehicle ownership rates, particularly in emerging markets experiencing economic growth and urbanization, result in a continuous demand for replacement tires and aftermarket services. In mature markets where vehicle ownership is already high, ongoing vehicle renewal cycles contribute to sustained tire sales. Moreover, the expansion of vehicle ownership not only stimulates demand for standard passenger car tires but also fuels the market for commercial vehicle tires, off-road vehicle tires, and specialty tires tailored for specific applications.

Restraint:

Raw material price volatility

The prices of key raw materials such as natural rubber, synthetic rubber, and petroleum-derived materials are subject to fluctuations influenced by various factors including weather conditions, geopolitical tensions, and global supply-demand dynamics. Sharp increases in raw material prices can squeeze profit margins for tire manufacturers, leading to higher production costs that may eventually be passed on to consumers through elevated tire prices. However, price volatility can disrupt supply chains and inventory management, making it challenging for manufacturers to plan and forecast effectively.

Opportunity:

Technological advancements

Innovations in tire materials, manufacturing processes and tread designs lead to the development of high-performance tires that offer improved grip, traction, and handling characteristics. Advanced compounds and construction techniques contribute to longer tread life and increased resistance to wear and punctures, reducing the frequency of tire replacements and overall ownership costs for consumers and businesses alike. Furthermore, innovations such as run-flat tires, self-sealing tires, and low rolling resistance tires address specific consumer needs and industry requirements, promoting sustainability, safety, and fuel efficiency.

Threat:

Regulatory compliance

These regulations encompass safety standards, environmental considerations, labeling requirements, and fuel efficiency mandates, among others. Compliance with such regulations often entails additional costs associated with research, development, testing, and certification processes. Moreover, evolving regulatory frameworks and standards across different regions and markets can lead to complexities and inconsistencies, requiring tire manufacturers to navigate a diverse array of compliance requirements. Adherence to stringent regulations may also limit flexibility in product design and innovation, as manufacturers must ensure that their tires meet mandated criteria without compromising performance or safety.

Covid-19 Impact:

During the pandemic, widespread lockdowns and restrictions on movement led to a significant reduction in vehicle usage, resulting in lower demand for tires across various sectors including automotive, transportation, and industrial applications. Automotive production slowdowns and dealership closures further dampened tire sales, particularly in regions heavily affected by the pandemic. However, disruptions in raw material supply chains, labor shortages, and logistic challenges disrupted tire manufacturing operations, leading to production delays and inventory shortages.

The industrial vehicles segment is expected to be the largest during the forecast period

Industrial Vehicles segment commanded the largest share of the market throughout the projection period of time. Industrial vehicles encompass a wide range of equipment used in construction, mining, agriculture, warehousing, and logistics, all of which rely heavily on pneumatic tires for efficient operation. The expansion of infrastructure projects, urban development initiatives, and industrial activities worldwide has spurred demand for industrial vehicles, consequently boosting the need for durable, high-performance pneumatic tires. These elements are enhancing the segmental growth.

The air pneumatics segment is expected to have the highest CAGR during the forecast period

Air Pneumatics segment is prophesied to witness profitable growth over the domination period. This segment utilizes compressed air to support vehicle loads, providing cushioning, shock absorption, and traction essential for smooth and efficient operation. These tires are widely used in automotive vehicles, including passenger cars, trucks, buses, and motorcycles, as well as in industrial equipment such as forklifts, aerial lifts, and material handling machinery. The versatility and reliability of pneumatic tires make them indispensable in both on-road and off-road environments, from urban streets to rugged terrains.

Region with largest share:

Asia Pacific region commanded the largest share of the market during the extrapolated period due to the increasing government spending on defense aircraft, enhancing the infrastructure of the roads, and initiating R&D projects and investments for new product improvements. In addition, the region's sector has expanded due to the development of both public and private transportation owing to factors like urbanization, strong economic growth, and growing population. As a result, these factors are boosting the regional growth.

Region with highest CAGR:

Europe region is growing at a rapid pace over the estimation period, with a strong emphasis on quality, innovation, and sustainability, driving demand for high-performance pneumatic tires. Stringent regulatory standards regarding vehicle safety, emissions, and fuel efficiency incentivize the adoption of advanced tire technologies, further propelling market growth in this region. Consequently, urbanization trends lead to higher vehicle usage and demand for tires, especially in densely populated areas with extensive transportation networks thereby driving the regional growth.

Key players in the market

Some of the key players in Pneumatic Tire market include Continental AG, Cooper Tire Rubber Company, Hankook Tire, Kumho Tire Co , Ltd, Michelin Group, Sumitomo Rubber Industries Ltd, The Goodyear Tire Rubber Company and The Yokohama Rubber Co., Ltd.

Key Developments:

In October 2023, Continental AG expands its agricultural tire range with new sizes. Continental AG broadens its agricultural tire portfolio for the TractorMaster and CompactMaster AG/EM product lines, responding to the growing demand for bigger agricultural machinery and thus larger, technologically advanced tires. Introduction of new TractorMaster in size 600/70R34 for front tires and 620/70R42 for rear tires.

In August 2023, Continental launches its first 5G network equipped plant in Europe. The 5G network, specifically set-up to fit Continental’s requirements high-tech production, from Czechia’s T-Mobile is expected to further advance the digitalization of production by speeding up communication between employees, equipment, and machines, such as sensors, production robots and autonomous transport vehicles.

In October 2022, Michelin announced expanding its Tweel UTV product range by introducing the 26X11N14 Tweel UTV tire, which is designed to cater to the heavier carrying capabilities of construction, landscaping, and rental vehicles. The tire is 2.8 inches wider, has a 100km/h speed rating, and can carry up to 600 Kg, thus, allowing a higher load capacity for UTVs.

Vehicle Types Covered:
• Off-Road Vehicles
• Agricultural Vehicles
• Industrial Vehicles
• Aircrafts
• Four Wheelers
• Two Wheelers
• Other Vehicle Types

Types Covered:
• Solid Pneumatics
• Air Pneumatics
• Radial Tires
• Other Types

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances


1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Pneumatic Tire Market, By Vehicle Type
5.1 Introduction
5.2 Off-Road Vehicles
5.3 Agricultural Vehicles
5.4 Industrial Vehicles
5.5 Aircrafts
5.6 Four Wheelers
5.7 Two Wheelers
5.8 Other Vehicle Types
6 Global Pneumatic Tire Market, By Type
6.1 Introduction
6.2 Solid Pneumatics
6.3 Air Pneumatics
6.4 Radial Tires
6.5 Other Types
7 Global Pneumatic Tire Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Continental AG
9.2 Cooper Tire Rubber Company
9.3 Hankook Tire
9.4 Kumho Tire Co , Ltd
9.5 Michelin Group
9.6 Sumitomo Rubber Industries Ltd
9.7 The Goodyear Tire Rubber Company
9.8 The Yokohama Rubber Co., Ltd
List of Tables
Table 1 Global Pneumatic Tire Market Outlook, By Region (2021-2030) ($MN)
Table 2 Global Pneumatic Tire Market Outlook, By Vehicle Type (2021-2030) ($MN)
Table 3 Global Pneumatic Tire Market Outlook, By Off-Road Vehicles (2021-2030) ($MN)
Table 4 Global Pneumatic Tire Market Outlook, By Agricultural Vehicles (2021-2030) ($MN)
Table 5 Global Pneumatic Tire Market Outlook, By Industrial Vehicles (2021-2030) ($MN)
Table 6 Global Pneumatic Tire Market Outlook, By Aircrafts (2021-2030) ($MN)
Table 7 Global Pneumatic Tire Market Outlook, By Four Wheelers (2021-2030) ($MN)
Table 8 Global Pneumatic Tire Market Outlook, By Two Wheelers (2021-2030) ($MN)
Table 9 Global Pneumatic Tire Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
Table 10 Global Pneumatic Tire Market Outlook, By Type (2021-2030) ($MN)
Table 11 Global Pneumatic Tire Market Outlook, By Solid Pneumatics (2021-2030) ($MN)
Table 12 Global Pneumatic Tire Market Outlook, By Air Pneumatics (2021-2030) ($MN)
Table 13 Global Pneumatic Tire Market Outlook, By Radial Tires (2021-2030) ($MN)
Table 14 Global Pneumatic Tire Market Outlook, By Other Types (2021-2030) ($MN)
Table 15 North America Pneumatic Tire Market Outlook, By Country (2021-2030) ($MN)
Table 16 North America Pneumatic Tire Market Outlook, By Vehicle Type (2021-2030) ($MN)
Table 17 North America Pneumatic Tire Market Outlook, By Off-Road Vehicles (2021-2030) ($MN)
Table 18 North America Pneumatic Tire Market Outlook, By Agricultural Vehicles (2021-2030) ($MN)
Table 19 North America Pneumatic Tire Market Outlook, By Industrial Vehicles (2021-2030) ($MN)
Table 20 North America Pneumatic Tire Market Outlook, By Aircrafts (2021-2030) ($MN)
Table 21 North America Pneumatic Tire Market Outlook, By Four Wheelers (2021-2030) ($MN)
Table 22 North America Pneumatic Tire Market Outlook, By Two Wheelers (2021-2030) ($MN)
Table 23 North America Pneumatic Tire Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
Table 24 North America Pneumatic Tire Market Outlook, By Type (2021-2030) ($MN)
Table 25 North America Pneumatic Tire Market Outlook, By Solid Pneumatics (2021-2030) ($MN)
Table 26 North America Pneumatic Tire Market Outlook, By Air Pneumatics (2021-2030) ($MN)
Table 27 North America Pneumatic Tire Market Outlook, By Radial Tires (2021-2030) ($MN)
Table 28 North America Pneumatic Tire Market Outlook, By Other Types (2021-2030) ($MN)
Table 29 Europe Pneumatic Tire Market Outlook, By Country (2021-2030) ($MN)
Table 30 Europe Pneumatic Tire Market Outlook, By Vehicle Type (2021-2030) ($MN)
Table 31 Europe Pneumatic Tire Market Outlook, By Off-Road Vehicles (2021-2030) ($MN)
Table 32 Europe Pneumatic Tire Market Outlook, By Agricultural Vehicles (2021-2030) ($MN)
Table 33 Europe Pneumatic Tire Market Outlook, By Industrial Vehicles (2021-2030) ($MN)
Table 34 Europe Pneumatic Tire Market Outlook, By Aircrafts (2021-2030) ($MN)
Table 35 Europe Pneumatic Tire Market Outlook, By Four Wheelers (2021-2030) ($MN)
Table 36 Europe Pneumatic Tire Market Outlook, By Two Wheelers (2021-2030) ($MN)
Table 37 Europe Pneumatic Tire Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
Table 38 Europe Pneumatic Tire Market Outlook, By Type (2021-2030) ($MN)
Table 39 Europe Pneumatic Tire Market Outlook, By Solid Pneumatics (2021-2030) ($MN)
Table 40 Europe Pneumatic Tire Market Outlook, By Air Pneumatics (2021-2030) ($MN)
Table 41 Europe Pneumatic Tire Market Outlook, By Radial Tires (2021-2030) ($MN)
Table 42 Europe Pneumatic Tire Market Outlook, By Other Types (2021-2030) ($MN)
Table 43 Asia Pacific Pneumatic Tire Market Outlook, By Country (2021-2030) ($MN)
Table 44 Asia Pacific Pneumatic Tire Market Outlook, By Vehicle Type (2021-2030) ($MN)
Table 45 Asia Pacific Pneumatic Tire Market Outlook, By Off-Road Vehicles (2021-2030) ($MN)
Table 46 Asia Pacific Pneumatic Tire Market Outlook, By Agricultural Vehicles (2021-2030) ($MN)
Table 47 Asia Pacific Pneumatic Tire Market Outlook, By Industrial Vehicles (2021-2030) ($MN)
Table 48 Asia Pacific Pneumatic Tire Market Outlook, By Aircrafts (2021-2030) ($MN)
Table 49 Asia Pacific Pneumatic Tire Market Outlook, By Four Wheelers (2021-2030) ($MN)
Table 50 Asia Pacific Pneumatic Tire Market Outlook, By Two Wheelers (2021-2030) ($MN)
Table 51 Asia Pacific Pneumatic Tire Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
Table 52 Asia Pacific Pneumatic Tire Market Outlook, By Type (2021-2030) ($MN)
Table 53 Asia Pacific Pneumatic Tire Market Outlook, By Solid Pneumatics (2021-2030) ($MN)
Table 54 Asia Pacific Pneumatic Tire Market Outlook, By Air Pneumatics (2021-2030) ($MN)
Table 55 Asia Pacific Pneumatic Tire Market Outlook, By Radial Tires (2021-2030) ($MN)
Table 56 Asia Pacific Pneumatic Tire Market Outlook, By Other Types (2021-2030) ($MN)
Table 57 South America Pneumatic Tire Market Outlook, By Country (2021-2030) ($MN)
Table 58 South America Pneumatic Tire Market Outlook, By Vehicle Type (2021-2030) ($MN)
Table 59 South America Pneumatic Tire Market Outlook, By Off-Road Vehicles (2021-2030) ($MN)
Table 60 South America Pneumatic Tire Market Outlook, By Agricultural Vehicles (2021-2030) ($MN)
Table 61 South America Pneumatic Tire Market Outlook, By Industrial Vehicles (2021-2030) ($MN)
Table 62 South America Pneumatic Tire Market Outlook, By Aircrafts (2021-2030) ($MN)
Table 63 South America Pneumatic Tire Market Outlook, By Four Wheelers (2021-2030) ($MN)
Table 64 South America Pneumatic Tire Market Outlook, By Two Wheelers (2021-2030) ($MN)
Table 65 South America Pneumatic Tire Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
Table 66 South America Pneumatic Tire Market Outlook, By Type (2021-2030) ($MN)
Table 67 South America Pneumatic Tire Market Outlook, By Solid Pneumatics (2021-2030) ($MN)
Table 68 South America Pneumatic Tire Market Outlook, By Air Pneumatics (2021-2030) ($MN)
Table 69 South America Pneumatic Tire Market Outlook, By Radial Tires (2021-2030) ($MN)
Table 70 South America Pneumatic Tire Market Outlook, By Other Types (2021-2030) ($MN)
Table 71 Middle East & Africa Pneumatic Tire Market Outlook, By Country (2021-2030) ($MN)
Table 72 Middle East & Africa Pneumatic Tire Market Outlook, By Vehicle Type (2021-2030) ($MN)
Table 73 Middle East & Africa Pneumatic Tire Market Outlook, By Off-Road Vehicles (2021-2030) ($MN)
Table 74 Middle East & Africa Pneumatic Tire Market Outlook, By Agricultural Vehicles (2021-2030) ($MN)
Table 75 Middle East & Africa Pneumatic Tire Market Outlook, By Industrial Vehicles (2021-2030) ($MN)
Table 76 Middle East & Africa Pneumatic Tire Market Outlook, By Aircrafts (2021-2030) ($MN)
Table 77 Middle East & Africa Pneumatic Tire Market Outlook, By Four Wheelers (2021-2030) ($MN)
Table 78 Middle East & Africa Pneumatic Tire Market Outlook, By Two Wheelers (2021-2030) ($MN)
Table 79 Middle East & Africa Pneumatic Tire Market Outlook, By Other Vehicle Types (2021-2030) ($MN)
Table 80 Middle East & Africa Pneumatic Tire Market Outlook, By Type (2021-2030) ($MN)
Table 81 Middle East & Africa Pneumatic Tire Market Outlook, By Solid Pneumatics (2021-2030) ($MN)
Table 82 Middle East & Africa Pneumatic Tire Market Outlook, By Air Pneumatics (2021-2030) ($MN)
Table 83 Middle East & Africa Pneumatic Tire Market Outlook, By Radial Tires (2021-2030) ($MN)
Table 84 Middle East & Africa Pneumatic Tire Market Outlook, By Other Types (2021-2030) ($MN)

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook
Cookie Settings