Pneumatic Tires Market is Anticipated to Increase at a Stable CAGR over the Forecast Period (2023 to 2029)

Pneumatic Tires Market is anticipated to grow at a CAGR 6.7% during the forecast period. Pneumatic tires are largely used in the automobile industry owing to enhanced performance features in terms of fuel economy, good traction and efficiency. Moreover, the rapid increase in disposable income of consumers and changing lifestyles are anticipated to drive the growth of the pneumatic tires market during the forecast period. The pneumatic tires market have witnessed significant growth owing to the considerable rise in demand from industrial and agriculture vehicles. However, the increasing adoption of non-pneumatic tire and variation of raw material cost is the factor hampering the growth of the pneumatic market.

The factor such as rapid economic growth, government proposal, improving road infrastructure and growth in large spending by customers are projecting as major factors of the pneumatic tires industry. However, a stringent policy against the use of pneumatic tires and their disposal are the factor that may hamper the growth of the market in the near future. This tire manufacturing needs low technical complexity and large initial infrastructure investment. The product counterfeit includes airless and semi-pneumatic tires that offer high rolling resistance, less suspension and are filled with polymers. These tries produce heat while driving and rising wheel weight. Therefore, numerous manufacturers recommend the use of pneumatic tires as opposed to its substitutes that leads to the growth of the pneumatics tries industry during the forecast period.

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Market Coverage

Market number available for - 2022-2030
Base year- 2022
Forecast period- 2023-2030
Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill

, and others

Pneumatic Tires Market Segmentation

By Product

Radial
Crossply
By Vehicle Type

Two-Wheelers
Four-Wheelers
Aircraft
Other
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Regional Analysis

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

· Latin America

· Middle East and Africa

Company Profiles

Apollo Tyres, Ltd.
Continental AG
Dunlop Tires (A Part of the Goodyear family)
Hankook Tire America Corp.
Kumho Tire USA., Inc
Maxam Tire International, Ltd.
Millennium Tire
Mitas (A Part of the Trelleborg group)
Petlas
Pirelli &C.S.p.A
Sumitomo Rubber Industries, Ltd.
The Goodyear Tire and Rubber Co.
The Michelin Group
The Yokohama Rubber Co. Ltd.
TOKAI Solid Tire (Mouldmate Co. Ltd.)
Trelleborg AB
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