MarkNtel Advisors – Leading Market Research Company found Global Tire (Tyre) Market Market is expected to reach 4.11% CAGR Growth By 2029.
This report provides a comprehensive analysis of the Global Tire (Tyre) Market Market, with a focus on market size, segmentation, key players, geographical analysis, and growth in the coming years. The expert team of analysts invested considerable time and effort in collecting and analyzing the latest market data, producing a comprehensive and current report that provides valuable insights for decision-makers, including business owners and analysts.
Comprehensive Analysis of the Tire (Tyre) Market Market
Base Year: 2023
Forecast Years: 2024-2029
Historical Years: 2019-2022
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Scope of the Tire (Tyre) Market Market Report:
The Global Tire Market size is valued at around USD 232 billion in 2023 and is estimated to grow at a CAGR of about 4.11% during the forecast period, i.e., 2024-29. With the emergence of more efficient vehicles and a smoother infrastructure, the market is experiencing rapid growth & changes. The rise in vehicle production in developing countries & increased competition among tire manufacturers are the prime aspects projected to drive the market in the forecast years.
Which prominent factor is expected to drive the Tire (Tyre) Market Market during 2024-29?
Mounting Prevalence of Electric Vehicles – One of the most prominent factors projected to drive the Tyre Market during 2024-29 is the rapidly surging electric vehicle (EV) production across developing countries. Growing awareness about the environment, coupled with increasing oil & gas prices worldwide, are shifting consumers toward buying EVs, which, in turn, would contribute significantly to the Tire Market growth.
Electric cars require special tires for a variety of reasons. In comparison with ICE (Internal Combustion Engine) vehicles, tires used in EVs have to deal with more weight & provide better torque. Hence, with the burgeoning EV sales across developed countries, the demand for their tires would also ascend significantly, upscaling the demand graph in the future years.
What are the different Segment Available in the Tire (Tyre) Market Market?
By Vehicle Type
- Two-wheeler- Market Size & Forecast 2019-2029, (Thousand Units)
- Three-wheeler- Market Size & Forecast 2019-2029, (Thousand Units)
- Passenger Car- Market Size & Forecast 2019-2029, (Thousand Units)
- Commercial Vehicle -Market Size & Forecast 2019-2029, (Thousand Units)
- Light Commercial Vehicle (LCV) -Market Size & Forecast 2019-2029, (Thousand Units)
- Medium & Heavy Commercial Vehicle (MHCV) -Market Size & Forecast 2019-2029, (Thousand Units)
- Off-the-Road Vehicle (OTR)-Market Size & Forecast 2019-2029, (Thousand Units)
By Demand Type
- OEM - Market Size & Forecast 2019-2029, (Thousand Units)
- Replacement - Market Size & Forecast 2019-2029, (Thousand Units)
By Tire Type
- Radial- Market Size & Forecast 2019-2029, (Thousand Units)
- Bias - Market Size & Forecast 2019-2029, (Thousand Units)
By Season
- Summer Tires- Market Size & Forecast 2019-2029, (Thousand Units)
- Winter Tires - Market Size & Forecast 2019-2029, (Thousand Units)
- All Season Tires- Market Size & Forecast 2019-2029, (Thousand Units)
By Sales Channel
- Direct Sales- Market Size & Forecast 2019-2029, (Thousand Units)
- Dealer Distributor - Market Size & Forecast 2019-2029, (Thousand Units)
- Online Platform- Market Size & Forecast 2019-2029, (Thousand Units)
By Rim Size
- Up to 12” - Market Size & Forecast 2019-2029, (Thousand Units)
- 1” to 15” - Market Size & Forecast 2019-2029, (Thousand Units)
- 1” to 18” - Market Size & Forecast 2019-2029, (Thousand Units)
- 18” to 22.5” - Market Size & Forecast 2019-2029, (Thousand Units)
- 6” to 26” - Market Size & Forecast 2019-2029, (Thousand Units)
- 1” to 35” - Market Size & Forecast 2019-2029, (Thousand Units)
- 1” to 47” - Market Size & Forecast 2019-2029, (Thousand Units)
- Above 47” - Market Size & Forecast 2019-2029, (Thousand Units)
By Price Category
- Budget- Market Size & Forecast 2019-2029, (Thousand Units)
- Economy- Market Size & Forecast 2019-2029, (Thousand Units)
- Premium- Market Size & Forecast 2019-2029, (Thousand Units)
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific.
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Leading Tire (Tyre) Market companies operating in the Market
- Bridgestone Corporation
- Continental AG
- Hankook & Company Co., Ltd.
- Michelin
- Nokian Tyres Plc
- Pirelli & C. S.P.A.
- Sumitomo Rubber Industries, Ltd.
- The Yokohama Rubber Co., Ltd.
- Toyo Tire Corporation
- MRF Limited
- CEAT Limited
- JK Tire & Industries Ltd.
- Apollo Tires Ltd
- Zhongce Rubber Group Co., Ltd.
- Sailun Group Co., Ltd
- Others.
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