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Major Growth Driver Identified in 2025 Automotive Tire OEM Market: Strategic Investments In Research And Development Fuel Growth In The Automotive Tire OEM Market
Automotive Tire OEM Market
Automotive Tire OEM Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the automotive tire OEM market has seen considerable growth in the past few years. The projected increase is from $23.04 billion in 2024 to $24.81 billion in 2025, with the compound annual growth rate (CAGR) being 7.7%. The driving factors behind this historical growth include an increase in global automotive production, regulations for fuel efficiency, safety norms, consumer preference for performance, contracts for original equipment fitment, demand for seasonal tires, and innovative strides in the automotive industry.
Automotive Tire OEM Market Size Forecast: What's the Projected Valuation by 2029?
The size of the automotive tire OEM market is forecasted to witness significant expansion in the upcoming years. By 2029, the market is estimated to attain the value of $34.35 billion, experiencing a CAGR of 8.5%. The rise within the projected period can be credited to the growing acceptance of EVs, concentration on eco-friendly materials, intelligent manufacturing methodologies, increased usage of ride-sharing services, and worldwide growth of automotive markets. Key trends for the forecast period comprise the incorporation of cutting-edge sensor technologies, emphasis on tire efficiency and performance, progress in tire materials, the emergence of run-flat and self-sealing tire technologies, partnerships for tire technology advancement, intelligent tires and connectivity, as well as the application of 3D printing technology.
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What Are the Drivers Transforming the Automotive Tire OEM Market?
Rapid growth in the automotive tire OEM market is being propelled by escalating investments in research and development within the realm of automotive tires. Tire producers, with their relentless pursuit of designing fresh and innovative tires and creating compounds, aim to augment product performance. The automotive tire OEM reaps the benefit of this investment by availing of a more efficient and eco-friendly tire. An instance worth mentioning is the recent announcement by Pirelli, an Italian tire-producing company, in May 2022. It disclosed its plan of investing $15 million over a two-year period to set up a cutting-edge technology and digitalisation centre, exclusively for tire manufacturing, at their Silao facility situated in Mexico. The focus of this investment will revolve around launching the inaugural research and development facility in Mexico, leveraging tire production technologies built for the future of mobility like electric, sustainable, and connected transport systems. These types of investments are playing a significant role in fueling the surge of the automotive tire OEM market.
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What Long-Term Trends Will Define the Future of the Automotive Tire OEM Market?
The emergence of technological innovation is a prominent trend gaining traction in the automotive tire OEM market. Primary market players are concentrating on creating new technologies to influence consumer preference towards more advanced tires. As an illustration, Qualcomm Incorporated - a semiconductor firm based in the US, introduced the Snapdragon Digital Chassis Solution in September 2023. The aim of this solution is to aid smart and connected cars in handling the massive volume of data they accumulate. Once a car is purchased, this platform allows for continuous updates with new features, thus providing an opportunity for manufacturers to craft new services and features for enhanced customer engagement and services-led revenue models.
Which Segments in the Automotive Tire OEM Market Offer the Most Profit Potential?
The automotive tire oem market covered in this report is segmented -
1) By Type: Tube Tire, Tubeless Tire
2) By Design: Radial Tire, Bias Tire
3) By Vehicle: Passenger Car, Light Commercial Vehicle, Heavy Commercial Vehicle
Subsegments:
1) By Tube Tire: Bias Tube Tires, Radial Tube Tires
2) By Tubeless Tire: Bias Tubeless Tires, Radial Tubeless Tires
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Which Firms Dominate the Automotive Tire OEM Market by Market Share and Revenue in 2025?
Major companies operating in the automotive tire oem market are Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Pirelli & C. SpA, Hankook Tire & Technology Co. Ltd., Toyo Tire Corporation, Cooper Tire & Rubber Company, Kumho Tire Co. Inc., Nokian Tyres PLC, Giti Tire Corporation, MRF Limited, Apollo Tyres Ltd., Cheng Shin Rubber Industry Co. Ltd., Nexen Tire Corporation, Shandong Linglong Tyre Co. Ltd., Zhongce Rubber Group Co. Ltd., Triangle Tyre Co. Ltd., Sailun Group Co. Ltd., Yokohama Rubber Co. Ltd., Qingdao Sentury Tire Co. Ltd., Goodyear Tyre & Rubber Company, Aeolus Tyre Co. Ltd., Double Coin Holdings Ltd., Continental AG, Shandong Wanda Boto Tyre Co. Ltd., JK Tyre & Industries Ltd., Hebei Tianyang Rubber Co. Ltd., Gui Zhou Tyre Co. Ltd.
Which Regions Offer the Highest Growth Potential in the Automotive Tire OEM Market?
Asia-Pacific was the largest region in the automotive tire OEM market in 2024. The regions covered in the automotive tire OEM market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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