United States EV and Hybrid Tires Market was valued at USD 5 Billion in 2022 and is projected to reach USD 12 Billion by 2030, growing at a CAGR of 12% from 2024 to 2030.
The US EV and Hybrid Tires Market is experiencing significant growth as the adoption of electric and hybrid vehicles (EVs and HEVs) continues to rise. This market is driven by a variety of factors, including the increasing demand for fuel-efficient, environmentally friendly vehicles and government incentives promoting clean energy. However, specific tire requirements are emerging as vital to meet the unique demands of EVs and hybrid vehicles. With the market growing, manufacturers must adapt to these changing needs to cater to both consumers and industries.
One of the primary requirements for EV and Hybrid Tires is their ability to handle the extra weight that electric vehicles tend to have due to their battery packs. These tires must be designed to withstand the additional load without compromising performance. In addition, tire manufacturers are developing specialized tires with low rolling resistance. This is essential because it helps reduce energy consumption, increasing driving range – a key concern for electric vehicle owners.
The tire market for EVs and hybrids is also influenced by the increased need for durability. As these vehicles are often used for longer trips and higher mileage, tires must be able to endure wear and tear over time. In response, tire manufacturers are focusing on creating longer-lasting products that maintain performance throughout their lifespan. Another important consideration is noise reduction. EVs are inherently quieter than traditional vehicles, meaning that tire noise becomes more noticeable. Tires with noise-reducing technology are therefore highly sought after in the market.
From an industry perspective, businesses are becoming increasingly reliant on specialized tires to ensure vehicle safety, efficiency, and performance. Automakers must integrate these tires into their vehicle design process, which requires collaboration with tire manufacturers. Additionally, tire retailers and suppliers need to adjust their inventory to cater to the growing EV and hybrid vehicle market. This includes providing a variety of tire sizes and types that cater to different EV models, from sedans to SUVs.
As the market for electric and hybrid vehicles expands, the demand for tires tailored to these vehicles continues to increase. The US EV and Hybrid Tires Market is thus evolving rapidly, with manufacturers and industries working together to meet the emerging needs of the green vehicle revolution.
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Michelin
Goodyear
Pirelli
Continental
Bridgestone
Nokian Tyres
Apollo Tyres
Sailun Tire
Falken Tire
Hankook
ZC Rubber
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US EV and Hybrid Tires Market
Battery Electric Vehicles (BEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Hybrid Electric Vehicles (HEVs)
Fuel Cell Electric Vehicles (FCEVs)
All-Season Tires
Winter Tires
Performance Tires
Eco-Friendly Tires
Natural Rubber
Synthetic Rubber
Recycled Materials
Biodegradable Materials
Budget
Mid-Range
Premium
Luxury
Online Retailers
Brick-and-Mortar Stores
OEM Dealers
Specialty Shops
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US EV and Hybrid Tires Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US EV and Hybrid Tires Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US EV and Hybrid Tires Market, By Type
6. US EV and Hybrid Tires Market, By Application
7. US EV and Hybrid Tires Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US EV and Hybrid Tires Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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