Press release
Rubber Tire Market to Surpass USD 201.35 Billion by 2030 with Robust Growth
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐ญ๐จ ๐๐ซ๐จ๐ฐ ๐๐ญ ๐ ๐๐๐๐ ๐จ๐ ๐.๐%: ๐๐๐ฒ ๐๐ซ๐ข๐ฏ๐๐ซ๐ฌ ๐๐ง๐ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ซ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒThe global rubber tire market is poised for significant growth, with advancements in tire technology, increasing demand from the automotive and transportation sectors, and an expanding focus on sustainability. According to a recent report by Maximize Market Research, the global rubber tire market was valued at USD 155.08 billion in 2023 and is expected to reach USD 201.35 billion by 2030, growing at a robust compound annual growth rate (CAGR) of 3.8% during the forecast period.
๐๐๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ: https://www.maximizemarketresearch.com/request-sample/128465/
๐๐๐ฒ ๐ ๐๐๐ญ๐จ๐ซ๐ฌ ๐๐จ๐ง๐ญ๐ซ๐ข๐๐ฎ๐ญ๐ข๐ง๐ ๐ญ๐จ ๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก:
๐ฐ๐๐๐๐๐๐๐๐ ๐ฝ๐๐๐๐๐๐ ๐ท๐๐๐ ๐๐๐๐๐๐: A significant rise in vehicle production globally, especially in emerging economies, is driving tire demand.
๐ป๐๐๐๐๐๐๐๐๐๐๐๐ ๐จ๐ ๐๐๐๐๐๐๐๐๐๐:Manufacturers are focusing on developing tires that offer improved fuel efficiency, safety features, and longer service life.
๐ฌ๐๐-๐ญ๐๐๐๐๐ ๐๐ ๐ป๐๐๐๐: Rising environmental concerns have spurred the development of tires made from sustainable materials, which are gaining traction across the globe.
๐-๐๐จ๐ฆ๐ฆ๐๐ซ๐๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก:The online retail sector for tires has expanded significantly, contributing to the market's overall growth, especially in North America and Europe.
๐๐๐๐๐ง๐ญ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ ๐๐ง๐ ๐๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง๐ฌ ๐ข๐ง ๐ญ๐ก๐ ๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ
Several mergers and acquisitions have been taking place in the rubber tire sector, with companies expanding their global presence and improving their technological capabilities. For instance, in 2023, ๐๐ข๐๐ก๐๐ฅ๐ข๐ง announced its acquisition of ๐๐๐ก๐ข๐ ๐ก ๐๐๐๐ก๐ง๐จ๐ฅ๐จ๐ ๐ข๐๐ฌ, a leader in sustainable rubber technology, aiming to enhance its green tire development. Similarly, ๐๐ซ๐ข๐๐ ๐๐ฌ๐ญ๐จ๐ง๐ recently partnered with ๐๐ข๐ซ๐๐ฅ๐ฅ๐ข to jointly develop tires made from renewable resources, signaling a shift toward more sustainable practices in tire manufacturing.
These strategic acquisitions and partnerships are expected to drive innovation and improve the market position of leading tire manufacturers worldwide.
๐๐ง๐ญ๐ซ๐ข๐ ๐ฎ๐๐ ๐ญ๐จ ๐๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ ๐ญ๐ก๐ ๐๐จ๐ง๐ญ๐๐ง๐ญ๐ฌ? ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐ก๐๐ง๐๐ฌ-๐จ๐ง ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ: https://www.maximizemarketresearch.com/request-sample/128465/
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐ข๐ง ๐๐ข๐๐ญ๐ง๐๐ฆ
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ข๐๐ญ๐ง๐๐ฆ
Vietnam is becoming a critical hub for rubber tire production, with significant growth expected over the next few years. The country's increasing vehicle production, coupled with its strategic location in Southeast Asia, is making it an attractive market for global tire manufacturers. The automotive industry in Vietnam has been expanding rapidly, particularly in the electric vehicle (EV) sector, leading to an increased demand for high-quality tires.
Key Companies such as ๐๐จ๐จ๐๐ฒ๐๐๐ซ and ๐๐ข๐๐ก๐๐ฅ๐ข๐ง have been focusing on expanding their manufacturing bases in Vietnam. Moreover, local tire manufacturers are increasing production capacities to cater to the growing demand from both domestic and export markets.
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ก๐๐ข๐ฅ๐๐ง๐:
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐จ๐ ๐๐ข๐ซ๐ ๐๐๐ง๐ฎ๐๐๐๐ญ๐ฎ๐ซ๐๐ซ๐ฌ ๐ข๐ง ๐๐ก๐๐ข๐ฅ๐๐ง๐
Thailand, one of the largest producers of natural rubber globally, is a key player in the rubber tire market. The tire manufacturing industry is witnessing a trend of consolidation, with major global brands such as ๐๐ซ๐ข๐๐ ๐๐ฌ๐ญ๐จ๐ง๐ and ๐๐จ๐ง๐ญ๐ข๐ง๐๐ง๐ญ๐๐ฅ strengthening their presence in the region. Thailand's robust automotive sector, which includes several manufacturing plants for leading automotive brands, is driving the growth of the tire market.
The government's support for green technology, coupled with the increasing demand for electric vehicles (EVs), is further boosting the demand for energy-efficient and eco-friendly tires. Additionally, innovations in tire production, such as the development of tires using sustainable materials, are gaining traction in the Thai market.
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐๐๐ญ๐๐ฌ ๐๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐๐๐ฉ๐๐ง:
๐น๐๐๐๐๐ ๐ป๐๐๐ ๐ด๐๐๐๐๐ ๐ฎ๐๐๐๐๐ ๐๐๐ ๐ป๐๐๐๐๐๐๐๐๐๐๐๐ ๐จ๐ ๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐ฑ๐๐๐๐
Japan has long been a major player in the global tire market, driven by advanced manufacturing technologies and a well-established automotive industry. The country is experiencing significant growth in the rubber tire sector, especially with innovations in smart tires and energy-efficient technologies. Manufacturers such as ๐๐ซ๐ข๐๐ ๐๐ฌ๐ญ๐จ๐ง๐ and ๐๐๐๐๐๐๐๐ are leading the way in developing high-performance tires for both conventional and electric vehicles.
The Japanese market is also witnessing a growing demand for eco-friendly and durable tires, thanks to the country's stringent environmental regulations. The trend of using sustainable materials in tire manufacturing, such as natural rubber and recycled components, is becoming increasingly popular in Japan.
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐๐ง๐ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐จ๐ฎ๐ญ๐ก ๐๐จ๐ซ๐๐:
๐น๐๐๐๐๐ ๐ป๐๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐ ๐ฒ๐๐๐๐
South Korea's rubber tire industry is witnessing rapid growth, fueled by advancements in tire technology and increased demand for electric vehicle tires. Companies like ๐๐๐ง๐ค๐จ๐จ๐ค ๐๐ข๐ซ๐ and ๐๐ฎ๐ฆ๐ก๐จ ๐๐ข๐ซ๐ are at the forefront of tire innovation, with a focus on smart tire technology, which enhances vehicle safety and performance. South Korea is also investing heavily in the production of eco-friendly tires, with a rising emphasis on reducing CO2 emissions through tire optimization.
Consolidation in the tire industry is notable, with leading players expanding their manufacturing capabilities and entering strategic partnerships to strengthen their position in the competitive market.
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐๐ข๐ง๐ ๐๐ฉ๐จ๐ซ๐:
๐น๐๐๐๐๐ ๐ป๐๐๐ ๐ด๐๐๐๐๐ ๐ผ๐๐ ๐๐๐๐๐ ๐๐ ๐บ๐๐๐๐๐๐๐๐
Singapore serves as a key logistics and manufacturing hub for the Asia-Pacific region. The rubber tire market in Singapore is experiencing growth due to the country's well-established automotive sector and its reputation for adopting cutting-edge technologies. The increasing demand for high-quality and eco-friendly tires is driving innovation in tire manufacturing. ๐๐จ๐จ๐๐ฒ๐๐๐ซ and ๐๐ข๐๐ก๐๐ฅ๐ข๐ง have recently launched new tire models in Singapore, focusing on performance, durability, and fuel efficiency.
The Singapore government's initiatives to promote sustainable practices within the automotive industry are also contributing to the growing demand for environmentally friendly tire solutions.
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ:
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ซ๐๐ง๐๐ฌ ๐๐ง๐ ๐๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง ๐ข๐ง ๐ญ๐ก๐ ๐.๐.
The U.S. remains one of the largest markets for rubber tires globally, driven by the demand for both passenger and commercial vehicle tires. The growing adoption of electric vehicles (EVs) in the U.S. is creating a new avenue for tire manufacturers to innovate and create tires optimized for EV performance. Additionally, advancements in smart tires, which provide real-time data to enhance vehicle performance and safety, are becoming increasingly popular in the U.S. market.
The U.S. tire market is also seeing consolidation, with major players like ๐๐ข๐๐ก๐๐ฅ๐ข๐ง, ๐๐จ๐จ๐๐ฒ๐๐๐ซ, and ๐๐ซ๐ข๐๐ ๐๐ฌ๐ญ๐จ๐ง๐ acquiring smaller regional manufacturers to strengthen their position and expand their technological capabilities.
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐๐ฌ ๐๐ง๐ ๐๐ซ๐๐ง๐๐ฌ ๐ข๐ง ๐๐ฎ๐ซ๐จ๐ฉ๐:
๐น๐๐๐๐๐ ๐ป๐๐๐ ๐ด๐๐๐๐๐ ๐ถ๐๐๐๐๐๐๐๐๐๐๐๐ ๐๐ ๐๐๐ ๐ฌ๐๐๐๐๐๐๐
Europe is witnessing significant growth in the rubber tire market, driven by increasing demand for eco-friendly and energy-efficient tires. The European Union's regulations on carbon emissions have prompted tire manufacturers to innovate and produce tires that help reduce the environmental impact of vehicles. Leading tire manufacturers such as ๐๐จ๐ง๐ญ๐ข๐ง๐๐ง๐ญ๐๐ฅ and ๐๐ข๐ซ๐๐ฅ๐ฅ๐ข are investing in sustainable tire production techniques and focusing on enhancing tire durability and fuel efficiency.
In addition, the growing popularity of electric vehicles in Europe is generating demand for specialized tires that cater to the unique requirements of EVs, including low rolling resistance tires for better energy efficiency.
๐ ๐จ๐ซ ๐๐๐๐ข๐ญ๐ข๐จ๐ง๐๐ฅ ๐ข๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ข๐ฌ ๐ฌ๐ญ๐ฎ๐๐ฒ, ๐ฉ๐ฅ๐๐๐ฌ๐ ๐ซ๐๐๐๐ซ ๐ญ๐จ: https://www.maximizemarketresearch.com/request-sample/128465/
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ ๐ฆ๐๐ง๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ:
๐๐ฒ ๐๐ข๐ฆ ๐๐ข๐ณ๐
22''-25''
29''-49''
51''-63''
๐๐ฒ ๐๐ข๐ซ๐ ๐๐ฒ๐ฉ๐
Radial
Bias
Solid
๐๐ฒ ๐๐๐ก๐ข๐๐ฅ๐ ๐๐ฒ๐ฉ๐
Passenger Vehicle
Light Commercial Vehicle
Truck & Bus
Construction & Mining Vehicles
Agricultural Tractors
Industrial Vehicle
Motorcycle & Scooters
In 2023, the market share of passenger vehicles was the largest by vehicle type. Tires for passenger cars are made of rubber because it is elastic, long-lasting, and wear-resistant. Additionally, rubber tires require less force to overcome friction than steel tires since they have a lower coefficient of friction with the road. Due to the growing purchasing power of society and the resulting increased demand for automobiles, passenger and commercial vehicles are expected to play important roles.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐ฆ๐๐ซ๐ค๐๐ญ ๐ญ๐ซ๐๐ง๐๐ฌ? ๐๐จ๐ง'๐ญ ๐ฆ๐ข๐ฌ๐ฌ ๐ญ๐ก๐ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐ฌ๐ฎ๐ฆ๐ฆ๐๐ซ๐ฒ ๐๐จ๐ซ ๐ฏ๐๐ฅ๐ฎ๐๐๐ฅ๐ ๐ข๐ง๐๐จ๐ซ๐ฆ๐๐ญ๐ข๐จ๐ง: https://www.maximizemarketresearch.com/market-report/rubber-tire-market/128465/
๐๐ฎ๐๐๐๐ซ ๐๐ข๐ซ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐จ๐ฆ๐ฉ๐๐ญ๐ข๐ญ๐ข๐ฏ๐ ๐๐๐ง๐๐ฌ๐๐๐ฉ๐:
1.Apollo Tyres Ltd
2. Bridgestone Corporation
3. CEAT Limited
4. Continental AG
5. Hankook & Company Co., Ltd.
6. JK Tyre & INDUSTRIES LTD.
7. Michelin
8. MRF Limited
9. Nokian Tyres PLC
10. Pirelli & C. S.p.A
11. Sailun Group Co., Ltd.
12. Salsons Impex Pvt. Ltd
13. Shandong Linglong Group Co. Ltd.
14. Sumitomo Rubber Industries, Ltd.
15. The Goodyear Tire & Rubber Company
16. The Yokohama Rubber Co., Ltd.
17. Triangle Tire Co., Ltd.,
18. Toyo Tire Corporation
19. Wanli Tire Co., Ltd.
20. Zhongce Rubber Group Co., Ltd.
๐๐๐๐๐ฌ๐ฌ ๐ญ๐ก๐ ๐ฉ๐ฎ๐ฅ๐ฌ๐ ๐จ๐ ๐ข๐ง๐ง๐จ๐ฏ๐๐ญ๐ข๐จ๐ง ๐๐ฒ ๐ฉ๐๐ซ๐ฎ๐ฌ๐ข๐ง๐ ๐๐๐ฑ๐ข๐ฆ๐ข๐ณ๐ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก'๐ฌ ๐ฅ๐๐ญ๐๐ฌ๐ญ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฅ๐๐๐ฌ๐๐ฌ:
Enhanced Oil Recovery Market https://www.maximizemarketresearch.com/market-report/enhanced-oil-recovery-market/11401/
Small Wind Market https://www.maximizemarketresearch.com/market-report/global-small-wind-market/30550/
Global Wind Tower Market https://www.maximizemarketresearch.com/market-report/global-wind-tower-market/30127/
Global Utility Asset Management Market https://www.maximizemarketresearch.com/market-report/global-utility-asset-management-market/1138/
Global Atmospheric Water Generator Market https://www.maximizemarketresearch.com/market-report/global-atmospheric-water-generator-market/30618/
Telecom Tower Market https://www.maximizemarketresearch.com/market-report/global-telecom-tower-market/70701/
Global Buildingintegrated Photovoltaics Market https://www.maximizemarketresearch.com/market-report/global-building-integrated-photovoltaics-market/44349/
Solar Panel Market https://www.maximizemarketresearch.com/market-report/solar-panel-market/188556/
Fusion Energy Market https://www.maximizemarketresearch.com/market-report/fusion-energy-market/183962/
Smart Mining Market https://www.maximizemarketresearch.com/market-report/smart-mining-market/11594/
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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๐๐๐จ๐ฎ๐ญ ๐๐ฌ
Maximize Market Research is one of the fastest-growing market research and business consulting firms serving clients globally. Our revenue impact and focused growth-driven research initiatives make us a proud partner of majority of the Fortune 500 companies. We have a diversified portfolio and serve a variety of industries such as IT & telecom, chemical, food & beverage, aerospace & defense, healthcare and others.
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Market Research Report Search Engine (MRRSE) recently announced the addition of a new research study to its comprehensive collection of research reports. The research report, titled โTire derived Fuel Market โ Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 โ 2026โ offers a detailed analysis of the market providing insights into the market dynamics that are expected to influence the overall market positively in the next few years.โฆ
Global Tire derived Fuel Market Research Report 2018-2025 | Global Key -Liberty โฆ
Looking at the current trends across the Tire derived Fuel market, a new study has been included to the wide database of Market Research Hub (MRH). The assessment is titled "Global Tire derived Fuel Market Insights, Forecast to 2025", which discourses the various market impacting factors like drivers, restraints and opportunities. Moreover, readers are informed about the competitive landscape which enlightens about the different players operating in the Tire derivedโฆ