Automotive Tire Market size was valued at USD 19.60 Bn in 2023 and Automotive Tire market revenue is expected to reach USD 22.82 Bn by 2030, at a CAGR of 2.2 % over the forecast period.
Automotive Tire Market Overview:
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the Automotive Tire Market. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The report provides the current state of the Automotive Tire market by thorough analysis, and projections are made up to 2030.
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Automotive Tire Market Scope and Methodology:
The Automotive Tire market report covers a wide range of topics that impact market dynamics, trends, opportunities, and challenges. It also includes a thorough analysis of the worldwide landscape. This comprehensive analysis also looks at how the market is divided into segments according to services category, company size, end-user sector, and geographical regions. The study also closely examines major industry participants, assessing their approaches, line of business, results, and place in the Automotive Tire market. To give a comprehensive picture of the market environment, a thorough evaluation of macroeconomic variables, regulatory frameworks, and technical developments is also carried out.
Also, the research offers detailed insights into the dynamics of the Automotive Tire market, including opportunities, challenges, constraints, and drivers. Using a bottom-up methodology, estimates of the size of the worldwide and regional Automotive Tire market were developed. The study provides a thorough value chain analysis that clarifies the Automotive Tire production process and incorporates information about distributors, consumers, and raw materials. Furthermore, the use of PORTER and PESTLE studies, in conjunction with evaluations of market attractiveness, enhances comprehension of the Automotive Tire market on a global and micro level.
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Automotive Tire Market Regional Insights :
The size and trends in the Automotive Tire market in each of the following regions are thoroughly examined in this research: North America (which includes the United States, Canada, and Mexico); Europe (which includes France, Spain, Germany, Italy, and other European countries); Asia-Pacific (which includes China, Japan, India, Australia, South Korea, ASEAN countries, and others APAC countries); South America (which includes Argentina, Brazil, and other South American countries); and Middle East and Africa (which includes South Africa, Egypt, and other MEA countries).
Automotive Tire Market Segmentation:
by Vehicle Type
Passenger Cars
Light Trucks and SUVs
Commercial Vehicles
Two-Wheelers
The market is divided into four segments: commercial vehicles, light trucks and SUVs, passenger cars, and two-wheelers. The market was dominated by light trucks and SUVs in 2023, and this category is anticipated to continue to maintain the greatest share of the automotive tire market during the forecast period. SUVs and light trucks are preferred by consumers due to their off-road capability, payload capacity, and versatility. They therefore look for tires that go well with these car attributes. Many light vehicle and SUV consumers value the ability to travel off-road. Some of the tires in this category have robust construction and deeper treads for off-road use.
by Tire Type
Summer Tires
All-Season Tires
Winter Tires
Performance Tires
Run-Flat Tires
Off-Road Tires
Specialty Tires
Summer tires, all-season tires, winter tires, performance tires, run-flat tires, off-road tires, and specialty tires make up the market's segments. The All-Season Tires sector is anticipated to lead the automotive tire market during the forecast period, having had the biggest market share in 2023. All-season tires are made to function well in a variety of weather conditions, such as light snow, rain, and dry conditions. They are appropriate for a variety of driving situations and seasons since they achieve a balance between different performance features. All-season tires usually have a combination of tread blocks and grooves in their tread design.
by Rim Size
13"_15"
16"_18"
19"_21"
21"
by End-User
OEM (Original Equipment Manufacturer)
Aftermarket
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Automotive Tire Market Key Players:
1. Bridgestone Corporation
2. Michelin
3. Goodyear Tire Rubber Company
4. Continental AG
5. Pirelli C. S.p.A.
6. Sumitomo Rubber Industries
7. Hankook Tire Co. Ltd.
8. Cooper Tire Rubber Company
9. Yokohama Rubber Co., Ltd.
10. Toyo Tire Corporation
11. Kumho Tire Co., Inc.
12. Nokian Tyres plc
13. MRF Ltd.
14. CEAT Ltd.
15. Apollo Tyres Ltd.
16. Nexen Tire Corporation
17. Hankook Tire America Corp.
18. Maxxis International
19. Giti Tire Group
20. Falken Tires
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Key questions answered in the Automotive Tire Market are:
- What is Automotive Tire?
- What was the Automotive Tire market size in 2023?
- Which are the factors expected to drive the Automotive Tire market growth?
- Who are the leading companies and what are their portfolios in Automotive Tire Market?
- What growth strategies are the players considering to increase their presence in Automotive Tire?
- What are the upcoming industry applications and trends for the Automotive Tire Market?
- What will be the CAGR at which the Automotive Tire market will grow?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Tire Market?
- What are the different segments of the Automotive Tire Market?
- What is the growth rate of the Automotive Tire Market?
- What segments are covered in the Automotive Tire Market?
- Who are the key players in the Automotive Tire market?
- What are the key challenges and opportunities in the Automotive Tire market?
- Which application holds the highest potential in the Automotive Tire market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size Forecast by different segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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