Automotive Tires Market size was valued at USD 150 Billion in 2024 and is forecasted to grow at a CAGR of 5.5% from 2026 to 2033, reaching USD 230 Billion by 2033.
The global automotive tires market was valued at USD 120.9 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 5.4% from 2023 to 2030. The market is primarily driven by the increasing demand for vehicles, technological advancements in tire manufacturing, and the rise in vehicle production worldwide. The Asia Pacific region holds the largest share in the automotive tire market, accounting for approximately 45% of the global market in 2022. This is due to the high vehicle production and a substantial consumer base in countries like China, India, and Japan. Additionally, the Europe and North America regions also contribute significantly to the market, with the adoption of premium tires and advancements in tire technology driving market growth. Opportunities in the automotive tire market include the increasing demand for eco friendly and energy efficient tires, as well as the adoption of electric vehicles, which require specialized tires. The growing trend of tire retreading services is also expected to provide growth opportunities, particularly in mature markets. The market is likely to witness increased competition due to the rising demand for smart tires equipped with sensors and the emergence of autonomous vehicles, which will require advanced tire technologies. With the growing focus on sustainability and reducing carbon footprints, the automotive tire industry is expected to see innovation in terms of raw materials, tire durability, and recycling processes, which will fuel market growth in the coming years.
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Michelin
Pirelli
Bridgestone
Continental
Hankook
Cooper
Nokian Tyres
Yokohama
Goodyear
Triangle Group
Maxxis
Uniroyal
Nexen
BFGoodrich
LEGO Group's
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. 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 Tires Market
Radial Tires
Bias Ply Tires
Passenger Cars
Commercial Vehicles
Off-The-Road (OTR) Tires
Automotive
Agricultural
Construction
Mining
OEM (Original Equipment Manufacturer)
Aftermarket
Radial Ply Construction
Bias Ply Construction
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 Global Automotive 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. Global Automotive Tires Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Tires Market, By Type
6. Global Automotive Tires Market, By Application
7. Global Automotive Tires Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive Tires Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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