Automotive Tire Carrier Market was valued at USD 5.2 Billion in 2022 and is projected to reach USD 8.1 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The automotive tire carrier market is an essential segment within the automotive accessories industry, providing solutions for the safe and convenient storage and transportation of spare tires in vehicles. As of the latest market assessments, the global automotive tire carrier market is valued at approximately $XX billion, with expectations to grow at a CAGR of XX% over the next 5 to 10 years. This growth is driven by increasing vehicle production, the rising demand for off road and recreational vehicles, and the adoption of advanced tire carrier systems by automotive OEMs Original Equipment Manufacturers and aftermarket suppliers.
The market's evolution is influenced by several key factors. Among these, the growing consumer preference for off roading and adventure tourism, combined with the need for increased vehicle safety and convenience, has contributed significantly to market growth. Additionally, innovations in tire carrier designs, which now offer enhanced ease of use and durability, have bolstered the adoption of tire carriers in both passenger vehicles and commercial fleets.
Industry advancements, such as the integration of smart technologies like tracking systems and automated storage solutions, are expected to continue driving demand. Furthermore, the increasing focus on lightweight materials, such as aluminum and composite plastics, is enhancing product efficiency and fuel economy, thereby influencing consumer choices in favor of advanced tire carriers.
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Drivers: Several key factors are fueling the growth of the automotive tire carrier market:
Rising Vehicle Production: As global automotive production continues to rise, especially in emerging markets such as Asia Pacific, there is an increased demand for efficient and robust tire carriers.
Off Road and Recreational Vehicle Popularity: The growth in off roading and recreational activities has prompted a higher demand for vehicles equipped with spare tire carriers, particularly for SUVs and trucks.
Technological Advancements: The incorporation of smart features, such as remote controlled tire lifting systems and automated tire storage, has improved the functionality of tire carriers.
Restraints: While the market is on an upward trajectory, several factors could potentially hinder growth:
Cost Considerations: High quality tire carriers can be expensive, especially for vehicles with specialized requirements or for those using premium materials like stainless steel or carbon fiber.
Supply Chain Issues: Ongoing global supply chain disruptions may impact the availability of raw materials, causing delays in production and increasing costs.
Opportunities: The future of the automotive tire carrier market looks promising, with several opportunities to explore:
Sustainability and Eco Friendly Solutions: The growing focus on environmental sustainability provides opportunities for manufacturers to innovate with eco friendly materials, reducing the carbon footprint of production and operation.
Automotive Electrification: With the rise of electric vehicles EVs, manufacturers can create specialized tire carriers designed to accommodate the unique requirements of EVs, including the integration of charging infrastructure and optimized storage solutions.
The automotive tire carrier market can be segmented into several categories based on application, end users, and regions. Each of these segments plays a pivotal role in the overall market growth.
OEM Original Equipment Manufacturer: Tire carriers integrated directly into the vehicle during manufacturing remain a major segment. OEMs focus on durability, safety, and convenience while maintaining a competitive price point.
Aftermarket: Aftermarket tire carriers are increasingly popular due to their customization options and ability to cater to specific customer needs. This includes both passenger vehicles and commercial fleets that require spare tire solutions.
Passenger Vehicles: This segment includes tire carriers for regular passenger cars, SUVs, and luxury vehicles. Customers in this category tend to prioritize space efficiency and ease of use.
Commercial Vehicles: Trucks, vans, and fleet vehicles require tire carriers designed for heavy duty use. Durability and cargo capacity are primary concerns in this segment.
Off Road and Recreational Vehicles: For off road vehicles, spare tire carriers must be robust and capable of handling the rough terrains. These tire carriers are designed to support larger, heavier tires and withstand extreme conditions.
North America: North America dominates the market due to high vehicle ownership rates, particularly in the U.S., where off roading culture is prevalent. Additionally, automotive manufacturing hubs in this region continue to drive demand for both OEM and aftermarket tire carriers.
Europe: Europe’s automotive market is characterized by a growing trend toward electric vehicles, which creates opportunities for manufacturers to design tire carriers that suit the requirements of EVs.
Asia Pacific: Asia Pacific is anticipated to witness the highest growth rate in the coming years, driven by the expanding automotive industry, particularly in China and India. Increasing disposable income and a rising number of SUVs and off road vehicles further support market expansion.
Rest of the World: The rest of the world, including Latin America, the Middle East, and Africa, will experience moderate growth, with emerging economies gradually adopting automotive tire carriers for their growing vehicle fleets.
The automotive tire carrier market is highly competitive, with key players continually innovating to meet evolving customer demands. Some of the major players in this market include:
Thule Group: A leader in the design and manufacture of automotive accessories, including tire carriers. Thule's products are renowned for their ease of use and durability, making them popular among off road enthusiasts.
Bestop: Bestop offers a range of premium tire carriers tailored for off road vehicles, focusing on rugged design and functionality.
Warn Industries: Known for heavy duty off road and recreational vehicle tire carriers, Warn has established itself as a go to brand for durable, high performance accessories.
Yakima: Specializing in automotive storage solutions, Yakima manufactures innovative tire carriers that emphasize space efficiency and user friendly designs.
The automotive tire carrier market is witnessing several trends and innovations that are reshaping the industry:
Smart Tire Carriers: Newer tire carriers integrate GPS tracking systems, sensors, and IoT connectivity, allowing users to monitor tire condition and location through smartphone apps.
Lightweight Materials: Tire carriers made from advanced materials like carbon fiber and aluminum are gaining popularity due to their lightweight nature, which improves fuel efficiency without compromising on strength and durability.
Customizable Tire Carriers: As consumer preferences shift towards personalization, manufacturers are offering customizable tire carriers that cater to specific vehicle models and individual preferences.
Despite its promising growth, the automotive tire carrier market faces several challenges that manufacturers and stakeholders need to address:
Supply Chain Disruptions: Global supply chain issues, especially in the wake of the COVID 19 pandemic, have disrupted the production of raw materials. Manufacturers are focusing on securing more localized supply chains to mitigate these risks.
Rising Costs: Fluctuations in the price of raw materials, such as steel and aluminum, could impact the cost of production. To counteract this, manufacturers are investing in more cost effective manufacturing techniques and exploring alternative materials.
Regulatory Barriers: Increasing regulatory scrutiny on automotive accessory safety and environmental impact may pose challenges for manufacturers. Companies are working to meet stringent regulations while ensuring the functionality and design of their products remain intact.
The automotive tire carrier market is expected to continue its growth trajectory, driven by technological innovations, increasing demand from off road vehicle owners, and the need for advanced tire storage solutions. The next 5–10 years will likely see an increased focus on sustainability, with manufacturers innovating to offer eco friendly, cost effective solutions. Moreover, the ongoing shift toward electric vehicles presents a unique opportunity for specialized tire carrier systems tailored to EV needs.
North America, especially the U.S., is the leading region due to high vehicle ownership and a strong off roading culture. The Asia Pacific region is expected to experience the highest growth rate due to rising automotive production in countries like China and India.
Automotive tire carriers are used in both OEM and aftermarket applications for passenger vehicles, commercial fleets, and off road vehicles. They are essential for vehicles requiring spare tire solutions, especially in off roading and adventure travel.
The market faces challenges such as rising raw material costs, supply chain disruptions, and regulatory barriers. Solutions include investing in cost effective production techniques and focusing on localized supply chains.
Key players include Thule Group, Bestop, Warn Industries, and Yakima, all of which offer innovative, high quality tire carriers for various vehicle types.
The market is poised for continued growth, driven by increasing demand for off road and recreational vehicles, technological innovations in tire carrier designs, and the rise of electric vehicles, which presents opportunities for specialized solutions.
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Westin Automotive
Aska
DURA Automotive Systems
Ishihara
Kyung Chang Industrial
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 Global Automotive Tire Carrier Market
Passenger Cars
Commercial Vehicles
Based on Types the Market is categorized into Below types that held the largest Automotive Tire Carrier market share In 2023.
Bumper Mounted Tire Carriers
Tailgate Reinforcement Style Tire Carriers
Global (United States, Global 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 Global Automotive Tire Carrier 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. Global Automotive Tire Carrier Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Tire Carrier Market, By Type
6. Global Automotive Tire Carrier Market, By Application
7. Global Automotive Tire Carrier Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Automotive Tire Carrier Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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