Diagonal Tire Market was valued at USD 10.5 Billion in 2022 and is projected to reach USD 14.2 Billion by 2030, growing at a CAGR of 4.7% from 2024 to 2030.
During this period, diagonal tires, which feature a more robust tread design for improved traction, continued to maintain their relevance, particularly in markets requiring high-performance vehicles and off-road capabilities. The cost-effective nature of these tires also made them a preferred choice for budget-conscious consumers, further solidifying their presence in the automotive industry. However, market players faced challenges related to raw material shortages, including the fluctuating prices of rubber, which impacted overall production costs. Manufacturers had to adapt quickly by embracing new manufacturing techniques and innovations to maintain their competitive edge in the global market.
The demand for diagonal tires, however, is expected to shift significantly between 2023 and 2033 due to evolving industry trends and changing consumer behaviors. The growing emphasis on electric and autonomous vehicles, along with stricter environmental regulations, is likely to fuel demand for tires that offer greater fuel efficiency and lower environmental impact. Additionally, advancements in tire technology, including the development of smart tires with sensors and airless designs, are set to redefine the market. These innovations promise improved performance, durability, and safety features, attracting a new wave of consumers looking for more sustainable and technologically advanced options.
As we look ahead, the Diagonal Tire Market is poised for further transformation. Regional demand will also experience shifts, with emerging economies in Southeast Asia, Africa, and South America expected to witness increased tire consumption due to rising vehicle ownership. The ongoing focus on sustainability will continue to shape the market, pushing manufacturers to explore eco-friendly materials and manufacturing processes. In summary, while the 2018-2022 period saw consistent growth for diagonal tires, the coming decade will be characterized by technological advancements and increased demand for more eco-conscious solutions.
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The Diagonal Tire Market has witnessed substantial shifts from 2018 to 2022, driven by a variety of factors such as technological advancements, changing consumer preferences, and supply chain dynamics. In this period, the market experienced fluctuating demand, heavily influenced by global economic conditions, increased focus on sustainability, and the rising demand for fuel-efficient vehicles. The 2018-2022 phase saw significant growth in regions such as Asia-Pacific, North America, and Europe, as vehicle production and sales rebounded following earlier economic slowdowns. The growing adoption of electric vehicles (EVs) also prompted manufacturers to design tires with enhanced efficiency and longevity, contributing to a rise in diagonal tire demand.
Bridgestone
Michelin
GoodYear
Continental
Sumitomo
Pirelli
Hankook
Yokohama
Cheng Shin Rubber (Maxxis)
Zhongce Rubber
Giti
Cooper Tire
KUMHO TIRES
TOYO Tyre
Triangle group
Linglong Tyre
Apollo Tyres
MRF
Nokian Tyres
Double Coin
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 Diagonal Tire Market
Motorcycle
Car
Commercial Vehicle
Based on Types the Market is categorized into Below types that held the largest Diagonal Tire market share In 2023.
Common Bias Tyre
Bias Belted Tire
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 Diagonal Tire 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 Diagonal Tire Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Diagonal Tire Market, By Type
6. Global Diagonal Tire Market, By Application
7. Global Diagonal Tire Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Diagonal Tire Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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