Worldwide Automotive (Vehicle) Tires Market Size, Sales, Forecasts Report, 2018-2026
Automotive Tire Market Research Report, Size & Forecast, 2018 – 2026

Automotive Tire Market Share, Size, Trends, Industry Analysis Report By Type (Radial Tire, Bias Tire); By End-User (Passenger Cars, Commercial Vehicles, Two-Wheelers); By Sales Channel (OEM, Aftermarket); By Regions, Segments & Forecast, 2018 - 2026

  • Published Date:Sep-2018
  • Pages: 115
  • Format: PDF
  • Report ID: PM1441
  • Base Year: 2017
  • Historical Data: 2015-2016

Report Outlook

The global automotive tire market size and share was valued at USD 246.3 billion in 2017 and is anticipated to grow at a CAGR of 7.1% during the forecast period. Automotive tires are rubber rings around the rim of automobile wheels, which are filled with compressed air. The different components of automotive tires include bead, sidewall, tread, ply, carcass, breaker, and belt among others. The automotive tires are categorized into radial tires and bias tires. Radial tires are primarily used by vehicles owing to benefits such as reduced tread squirming & shuffling, longer life, enhanced fuel efficiency, decreased rolling resistance, improved high-speed performance, and enhanced dimensional and directional stability.

The major driving factors of the market include the growing automotive industry and increasing demand for passenger and commercial vehicles worldwide. The implementation of advanced technologies for automotive tire production, and the increasing need to improve road safety has accelerated the adoption of automotive tires. The growing need to increase the average life of vehicles encourages vehicle manufacturers to innovate and produce technologically advanced tires to meet the growing consumer demands. The increasing demand for vehicles from countries such as China, the U.S., and Western Europe also increases the demand for automotive tires. The introduction of government regulations regarding vehicular safety and the use of green tires further support the growth of the market.

The research study provides a comprehensive analysis of the industry, assessing the market on the basis of various segments and sub-segments. It sheds light on the competitive landscape and introduces the automotive tire market key players from the perspective of market share, concentration ratio, etc. The study is a vital resource for understanding the growth drivers, opportunities, and challenges in the industry. 

Segment Analysis

The global Automotive Tire market is segmented on the basis of type, end-user, sales channel, and geography. Based on the type, the market is segmented into radial tires, and bias tires. In 2017, radial tires accounted for the highest market share in the global automotive tire market. Radial tires have transverse radial plies that run perpendicular to the direction of travel. The benefits offered by radial tires include flexible sidewalls, reduced vibration, decreased fuel consumption, enhanced driving experience, and extended tire life among others.

The sales channel segment is categorized into OEM and aftermarket. OEM accounted for the dominant share of the global automotive tire market in 2017.

The end-users in the global automotive tire market include passenger cars, commercial vehicles, and two-wheelers. Passenger cars dominated the global automotive tire market in 2017 owing to increasing demand for passenger cars from emerging economies, and technological advancements. Rising disposable income, changing lifestyles, and increasing adoption of green tires would support the growth of the tire market in this segment.

Regional Analysis

This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into the U.S., Canada, and Mexico. Europe is divided into Germany, the UK, Italy, France, and the Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and the Rest of Asia-Pacific. Asia-Pacific accounted for the largest share in the global Automotive Tire market in 2017. The rising demand for automobiles and significant growth in the automotive sector accelerates the adoption of automotive tire in the region. The growing disposable income, and improving living standards, along with emerging economies of China, Japan, and India boost the market growth in Asia-Pacific. The introduction of stringent government regulations regarding vehicular safety and the use of green technology are factors expected to provide growth opportunities in the region during the forecast period.

Competitive Landscape

The vendors in the market are launching new products to meet the growing customer needs. In addition, the leaders in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. The Automotive Tire market is highly competitive with the presence of a large number of small and large vendors. The leading players in the Automotive Tire market include MRF Tyres, JK Tyre & Industries Ltd., Continental AG, Bridgestone Corporation, Sumitomo Rubber Industries Ltd., Michelin Group, Toyo Tire & Rubber Co. Ltd., Goodyear Tire and Rubber Company, Pirelli & C. S.P.A., and CEAT Ltd. among others.

Navigate through the intricacies of the 2024 automotive tire market with precision, thanks to the comprehensive statistics on market share, size, and revenue growth rate assembled by Polaris Market Research Industry Reports. This thorough analysis not only provides a glimpse into the historical context but also extends its reach with a market forecast outlook until 2032. Immerse yourself in the richness of this industry analysis by securing a complimentary PDF download of the sample report.