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Automotive Tire Market Set to Accelerate with 2.2% CAGR by 2030

Automotive Tire Market

Automotive Tire Market

๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐จ๐ข๐ฌ๐ž๐ ๐Ÿ๐จ๐ซ ๐’๐ข๐ ๐ง๐ข๐Ÿ๐ข๐œ๐š๐ง๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก

The global automotive tire market is on a trajectory of substantial expansion, with projections indicating a rise from USD 19.60 billion in 2023 to approximately USD 22.82 billion by 2030, reflecting a compound annual growth rate (CAGR) of 2.2% during this period.

๐Š๐ž๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ

Several factors are propelling this growth:

๐‘ฐ๐’๐’„๐’“๐’†๐’‚๐’”๐’†๐’… ๐‘ฝ๐’†๐’‰๐’Š๐’„๐’๐’† ๐‘ท๐’“๐’๐’…๐’–๐’„๐’•๐’Š๐’๐’ ๐’‚๐’๐’… ๐‘บ๐’‚๐’๐’†๐’”: Rapid industrialization has led to a surge in the production and sales of commercial vehicles, including trucks, tractors, and trailers. Additionally, rising disposable incomes and improved living standards have boosted the sales of luxury passenger cars and premium segment bikes.
๐‘ป๐’†๐’„๐’‰๐’๐’๐’๐’๐’ˆ๐’Š๐’„๐’‚๐’ ๐‘จ๐’…๐’—๐’‚๐’๐’„๐’†๐’Ž๐’†๐’๐’•๐’”: The industry is witnessing innovations such as run-flat tires, self-sealing tires, and smart tire monitoring systems, enhancing safety and performance.
๐‘บ๐’–๐’”๐’•๐’‚๐’Š๐’๐’‚๐’ƒ๐’Š๐’๐’Š๐’•๐’š ๐‘ฐ๐’๐’Š๐’•๐’Š๐’‚๐’•๐’Š๐’—๐’†๐’”: Manufacturers are focusing on developing eco-friendly tires that are more fuel-efficient and have longer lifespans, aligning with global environmental concerns.

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ ๐ฌ๐ž๐ž ๐ฐ๐ก๐š๐ญ'๐ฌ ๐ข๐ง๐ฌ๐ข๐๐ž: https://www.maximizemarketresearch.com/request-sample/11879/

๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐š๐ง๐ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™‚๐™ง๐™ค๐™ฌ๐™ฉ๐™ ๐™ž๐™ฃ ๐™‘๐™ž๐™š๐™ฉ๐™ฃ๐™–๐™ข

Vietnam's automotive sector is experiencing rapid growth, leading to increased demand for automotive tires. The government's supportive policies and investments in infrastructure have attracted major tire manufacturers to establish operations in the country.

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™Š๐™ฅ๐™ฅ๐™ค๐™ง๐™ฉ๐™ช๐™ฃ๐™ž๐™ฉ๐™ž๐™š๐™จ ๐™ž๐™ฃ ๐™๐™๐™–๐™ž๐™ก๐™–๐™ฃ๐™™

Thailand, being a significant automotive manufacturing hub in Southeast Asia, presents substantial opportunities in the tire market. The presence of major automotive manufacturers has led to increased demand for both OEM and aftermarket tires.

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™๐™ง๐™š๐™ฃ๐™™๐™จ ๐™ž๐™ฃ ๐™…๐™–๐™ฅ๐™–๐™ฃ

Japan's focus on technological innovation has led to the development of advanced tire technologies, including smart tires equipped with sensors for real-time monitoring. Japanese manufacturers are also investing in sustainable materials to produce eco-friendly tires.

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™‚๐™ง๐™ค๐™ฌ๐™ฉ๐™ ๐™ž๐™ฃ ๐™Ž๐™ค๐™ช๐™ฉ๐™ ๐™†๐™ค๐™ง๐™š๐™–

South Korea's automotive industry is marked by significant investments in electric vehicles (EVs), driving the demand for specialized tires designed for EVs. Manufacturers are focusing on reducing rolling resistance to enhance energy efficiency.

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™Š๐™ฅ๐™ฅ๐™ค๐™ง๐™ฉ๐™ช๐™ฃ๐™ž๐™ฉ๐™ž๐™š๐™จ ๐™ž๐™ฃ ๐™Ž๐™ž๐™ฃ๐™œ๐™–๐™ฅ๐™ค๐™ง๐™š

Singapore's strategic location and status as a logistics hub have led to increased demand for commercial vehicle tires. The government's emphasis on sustainable transportation is also driving the adoption of eco-friendly tires.

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™๐™ง๐™š๐™ฃ๐™™๐™จ ๐™ž๐™ฃ ๐™ฉ๐™๐™š ๐™๐™ฃ๐™ž๐™ฉ๐™š๐™™ ๐™Ž๐™ฉ๐™–๐™ฉ๐™š๐™จ

The U.S. automotive tire market is characterized by a high rate of vehicle ownership, leading to continuous demand for replacement tires. Advancements in tire technology, such as the development of smart tires, are gaining traction among consumers.

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™‚๐™ง๐™ค๐™ฌ๐™ฉ๐™ ๐™ž๐™ฃ ๐˜พ๐™๐™ž๐™ฃ๐™–

China's automotive tire market is expected to grow at a CAGR of 6.9% during the forecast period. The rise in electric vehicle sales and production is a significant driver, leading to increased demand for automotive tires.

๐˜ผ๐™ช๐™ฉ๐™ค๐™ข๐™ค๐™ฉ๐™ž๐™ซ๐™š ๐™๐™ž๐™ง๐™š ๐™ˆ๐™–๐™ง๐™ ๐™š๐™ฉ ๐™Š๐™ฅ๐™ฅ๐™ค๐™ง๐™ฉ๐™ช๐™ฃ๐™ž๐™ฉ๐™ž๐™š๐™จ ๐™ž๐™ฃ ๐™€๐™ช๐™ง๐™ค๐™ฅ๐™š

Europe's automotive tire market is projected to grow at a CAGR of over 6.5% from 2016 to 2024. The presence of several vehicle OEMs and the demand for high-performance tires are driving market growth.

๐“๐จ ๐š๐œ๐œ๐ž๐ฌ๐ฌ ๐ฆ๐จ๐ซ๐ž ๐๐ž๐ญ๐š๐ข๐ฅ๐ฌ ๐ซ๐ž๐ ๐š๐ซ๐๐ข๐ง๐  ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก, ๐ฏ๐ข๐ฌ๐ข๐ญ ๐ญ๐ก๐ž ๐Ÿ๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐  ๐ฐ๐ž๐›๐ฉ๐š๐ ๐ž: https://www.maximizemarketresearch.com/request-sample/11879/

๐‘๐ž๐œ๐ž๐ง๐ญ ๐Œ๐ž๐ซ๐ ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐€๐œ๐ช๐ฎ๐ข๐ฌ๐ข๐ญ๐ข๐จ๐ง๐ฌ

๐‡๐š๐ง๐ค๐จ๐จ๐ค ๐“๐ข๐ซ๐ž & ๐“๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ ๐š๐ง๐ ๐Š๐ฎ๐ฆ๐ก๐จ ๐๐ž๐ญ๐ซ๐จ๐œ๐ก๐ž๐ฆ๐ข๐œ๐š๐ฅ ๐‚๐จ., ๐‹๐ญ๐.: In May 2023, these South Korean companies signed a Memorandum of Understanding (MOU) to develop eco-friendly tires, focusing on sustainability and performance.
๐’๐ญ๐ซ๐š๐ข๐ ๐ก๐ญ๐š๐ฐ๐š๐ฒ ๐“๐ข๐ซ๐ž & ๐€๐ฎ๐ญ๐จ: In the United States, Straightaway Tire & Auto acquired Maple Grove Auto Service and Warzecha Auto Works, enhancing service capabilities and distribution networks within the industry.

๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ ๐€๐ง๐š๐ฅ๐ฒ๐ฌ๐ข๐ฌ:

๐’ƒ๐’š ๐‘ฝ๐’†๐’‰๐’Š๐’„๐’๐’† ๐‘ป๐’š๐’‘๐’†

Passenger Cars
Light Trucks and SUVs
Commercial Vehicles
Two-Wheelers

The market is divided into four categories based on the kind of vehicle: passenger cars, light trucks and SUVs, commercial vehicles, and two-wheelers. The market was dominated by light trucks and SUVs in 2023, and this segment is anticipated to continue to maintain the greatest share of the automotive tyre 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. SUV and light truck tires must be strong enough to resist the extra weight and load-bearing demands of these vehicles.

๐’ƒ๐’š ๐‘ป๐’Š๐’“๐’† ๐‘ป๐’š๐’‘๐’†

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 speciality tires are the several categories into which the market is divided based on tire type. 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.

๐’ƒ๐’š ๐‘น๐’Š๐’Ž ๐‘บ๐’Š๐’›๐’†

13"_15"
16"_18"
19"_21"
>21"

๐’ƒ๐’š ๐‘ฌ๐’๐’…-๐‘ผ๐’”๐’†๐’“

OEM (Original Equipment Manufacturer)
Aftermarket

๐“๐จ ๐Ÿ๐ข๐ง๐ ๐ฆ๐จ๐ซ๐ž ๐ข๐ง๐Ÿ๐จ๐ซ๐ฆ๐š๐ญ๐ข๐จ๐ง ๐š๐›๐จ๐ฎ๐ญ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก, ๐ฉ๐ฅ๐ž๐š๐ฌ๐ž ๐ฏ๐ข๐ฌ๐ข๐ญ: https://www.maximizemarketresearch.com/request-sample/11879/

๐€๐ฎ๐ญ๐จ๐ฆ๐จ๐ญ๐ข๐ฏ๐ž ๐“๐ข๐ซ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

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

๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐ญ๐ก๐ž ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐  ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐Ÿ๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ญ๐ก๐š๐ญ ๐š๐ซ๐ž ๐ฆ๐š๐ค๐ข๐ง๐  ๐ฐ๐š๐ฏ๐ž๐ฌ:

Manuka Honey Market https://www.maximizemarketresearch.com/market-report/manuka-honey-market/217559/

Global Food Grade Gases Market https://www.maximizemarketresearch.com/market-report/global-food-grade-gases-market/28592/

Global Alternative Sweeteners Market https://www.maximizemarketresearch.com/market-report/global-alternative-sweeteners-market/21291/

Pickles Market https://www.maximizemarketresearch.com/market-report/pickles-market/221120/

Cocoa Liquor Market https://www.maximizemarketresearch.com/market-report/cocoa-liquor-market/188078/

Dog and Cat Food Market https://www.maximizemarketresearch.com/market-report/dog-and-cat-food-market/194019/

Seaweed Market https://www.maximizemarketresearch.com/market-report/seaweed-market/220718/

Dog Supplement Market https://www.maximizemarketresearch.com/market-report/dog-supplement-market/185014/

Whey Market https://www.maximizemarketresearch.com/market-report/whey-market/219939/

Global Soybean Derivatives Market https://www.maximizemarketresearch.com/market-report/global-soybean-derivatives-market/96682/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐”๐ฌ:

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The latest study released on the Global Airplane Tire Market by AMA Research evaluates market size, trend, and forecast to 2027. The Airplane Tire market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors. Key Players inโ€ฆ
Tire Recycling Market: How the Business Will Grow in 2025? Prominent Players: Mi โ€ฆ
Tire Recycling Industry 2019 report provides concentrated and in-depth analysis of the existing situation of the Global Tire Recycling market, along with market share, revenue, assertive perception and forecast 2025.the report also provides current Tire Recycling business situation along with a valid assessment of the Tire Recycling business. Tire Recycling report is partitioned based on driving Tire Recycling players, application and regions. Tire recycling, or rubber recycling, is the process ofโ€ฆ
Vacuum Tire Market Scenario Highlighting Major Drivers & Trends, 2019 โ€“ 2025 | โ€ฆ
Vacuum Tire Industry research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation andโ€ฆ
Tire derived Fuel Market | Top Key Players: Ragn-Sells Group, Liberty Tire Whole โ€ฆ
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 โ€œTire 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.โ€ฆ
Global Tire derived Fuel Market Research Report 2018-2025 | Global Key -Liberty โ€ฆ
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 derivedโ€ฆ