Automotive Tire Market Unveiling the Future: Trends, Size, and Forecast in 2030

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 analysis in the report provides an in-depth aspect at the current status of the Automotive Tire Market, with forecasts outspreading to the year 2030.

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Automotive Tire Market Scope and Methodology:

The Automotive Tire Market combines both qualitative and quantitative research methods. Qualitative and quantitative market data is gathered from different research elements including input from subject matter experts, as well as primary and secondary research methods. Primary research relies on important data obtained from in-person or phone interviews, surveys, questionnaires, and insights from industry professionals, customers, and other individuals.

The Maximize Market Research team conducted secondary research using a range of sources like company websites, annual reports, financial information, reports and SEC filings, internal and external proprietary databases, and pertinent patent and regulatory databases. MMR Market Reports reached out to various influential figures in the industry, including senior and mid-level managers of leading companies and end-user executives, in order to collect data on factors like brand dominance and pricing of services and products across different countries and regions.

Automotive Tire Market Regional Insights

The Automotive Tire Market report is divided into several important countries. In countries including North America, United States, Canada, Mexico, Europe, United Kingdom, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN countries, other APAC countries, South America, Brazil and the Middle East and Africa.

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Automotive Tire Market Segmentation:

by Vehicle Type

Passenger Cars
Light Trucks and SUVs
Commercial Vehicles
Two-Wheelers

The market is divided into four segments based on the kind of vehicle: passenger cars, light trucks and SUVs, commercial vehicles, and two-wheelers. The segment that led the market in 2023 and is predicted to hold the most share of the automotive tire market over the forecast period is light trucks and SUVs. SUVs and light trucks are preferred by customers due to their off-road potential, payload capacity, and adaptability. They therefore look for tires that go well with these car attributes. Many users of light trucks and SUVs value the ability to travel off-road. Certain tires in this category have stronger structure and deeper treads that are intended for off-road use.

by Tire Type

Summer Tires
All-Season Tires
Winter Tires
Performance Tires
Run-Flat Tires
Off-Road Tires
Specialty Tires

The market is divided into categories for summer tires, all-season tires, winter tires, performance tires, run-flat tires, off-road tires, and specialty tires based on the kind of tire. The Automotive Tire Market Share of All-Season Tires was the highest in 2023, and it is anticipated to continue to lead the market over the forecast period. All-season tires are made to function well in a variety of weather situations, 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 several performance characteristics. All-season tires usually have a combination of tread blocks and grooves in their tread design.

by End-Use

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 is the growth rate of the Automotive Tire Market?

• Which are the factors expected to drive the Automotive Tire Market growth?

• What are the upcoming opportunities and trends for the Automotive Tire Market?

• Who are the leading companies and what are their portfolios in Automotive Tire Market?

• What are the recent industry trends that can be implemented to generate additional revenue streams for the Automotive Tire Market?

• What growth strategies are the players considering to increase their presence in Automotive Tire?

• What is the CAGR at which the Automotive Tire Market will grow during the forecast period?

• What segments are covered in the Automotive Tire Market?

• Who are the key players in the Automotive Tire Market?

• What are the different segments of the Automotive Tire Market?

• Which is the fastest growing region in the Automotive Tire Market?

Key Offerings:

• Past Market Size and Competitive Landscape

• Past Pricing and price curve by region

• Market Size, Share, Size & Forecast by different segment

• 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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About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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