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Global Tire Market Size Bwc20179
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Global Tire Market Size Bwc20179

Home Automotive And Transportation Global Tire Market Size Bwc20179

Tire Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2019–2029, Segmented By Product (Radial tires, Bias Tires), By Application (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Two Wheelers), By Demand Category (OEM, and Replacement), By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

  • Published Date: June 2023
  • Report ID: BWC20179
  • Available Format: PDF
  • Page: 400

Report Overview

As the global population continues to grow and economies develop, there is a rising demand for automobiles. More cars and commercial vehicles on the road mean a higher need for tires. The transportation industry plays a crucial role in the movement of goods and people. With globalization and e-commerce on the rise, there is an increased need for trucks, vans, and delivery vehicles, all of which require tires. Infrastructure projects, such as road construction and improvement, are taking place in many countries. These projects contribute to increased tire demand as more roads are built or existing ones are repaired and expanded.

Global Tires Market- Industry Trends & Forecast Report, 2029

Global Tires Market size was estimated at USD 276.36 billion in 2022. During the forecast period between 2023 and 2029, the Global Tires Market size is projected to grow at a CAGR of 8.05% reaching a value of USD 712.56 billion by 2029. The increasing sales of passenger automobiles, particularly in emerging nations, is one of the major drivers driving global tire demand. The increasing incomes in developing regions will expand the growth in the number of vehicles in use which is fueling the demand for tires, Weather-resistant tires are necessary, as well as the capacity to bear the stresses and pressures encountered when driving, which is the primary driver of tires industry growth. Moreover, increased wheel exports owing to increased demand from overseas are also helping the tires sector. The domestic automotive demand. The car sector will likewise be one of the country’s fastest expanding industries. Tire makers are turning to green energy in their production as companies are working to achieve carbon neutrality by 2050, with investments in the direction of zero-carbon technology, energy efficiency, and green energy. For instance, in February 2021, Michelin Group announced that it is working toward making its tires 100% sustainable by 2050. For this, Michelin partnered with various organizations like Axens, IFP Energies Nouvelles, Pyrowave, Carbios, Enviro, and BlackCycle.

Global Tires Market

Global Tires Market– Overview

The term tire comes from the idea that a wheel with a tire is a clad wheel. A tire is a circle of material that surrounds a wheel’s rim. A tire is a flexible material membrane that surrounds a rim and transfers the car’s weight on the surface while also providing a strong adhesion between the road and the vehicle. Fabric, wire, natural rubber, carbon black, and synthetic rubber are all used in the production of tires. They are sturdy and flexible, which aids in vibration absorption. Tires are designed to improve the overall performance of vehicles such as automobiles, motorcycles, buses, lorries, bicycles, shopping carts, wheelchairs, forklifts, aircraft, and automobile industry components. They offer traction between the car and the road while also acting as a flexible cushion to absorb stress. Tires are designed to boost a vehicle’s overall performance. Tires absorb shocks and lessen vibrations when driving by acting as a cushion for the wheels of a moving vehicle. This increases the vehicle’s overall performance by improving the road feel.

Global Tires Market

Growth Drivers

Increase in Automotive Production & Sales

Recently, the automobile industry has been undergoing rapid evolution owing to speedy progress, which has led to a growth in the sale of profitable vehicles such as trucks, tractors, and trailers. Besides, the rise in one-use income of people and developments in the standard of living are the factors that surge the sale of luxurious passenger cars and premium segment bikes. Furthermore, electric vehicle sales are predicted to rise throughout the forecast period. Also, a decrease in electric vehicle parts such as a battery, transmission, and alternators propel the sale of electric vehicles. Thus, a surge in demand for vehicles across all segments among consumers leads to a rise in automobiles and tires associated with it. Moreover, the global alliance of the automotive sector that results in mergers and acquisitions among international and domestic vehicle manufacturers boosts the development of the automotive industry, inducing the automotive tire market. Therefore, the development of the automobile sector is expected to rise the overall demand for tires. As per Federation of Automobile Dealers Associations (FADA) the overall automobile retail sales rose by 26 per cent to 23,80,465 units last month, as compared with 18,93,647 units in November 2021

Restraints

Unstable Prices of Raw Materials

Raw materials to manufacture tires include petroleum strengthening materials such as nylon and polyester. Also, rubber (natural and synthetic) is the essential element mandatory to manufacture tires, which witnesses high-cost differences. The materials used to produce rubber tires are tread, textile cord ply, jointless cap plies, steel-cord for belt plies, Bead reinforcement, apex, and core. Also, it contains steel wire, synthetic rubber, natural rubber, and carbon black along with the petrochemical strengthening materials such as polyester, fabric, nylon, steel, and rayon. The valuing of these raw materials plays a vital role in determining the complete price of the tire. These metals' prices vary irregularly due to global economic ups and downs in the market, as these are operated on a community exchange basis. Inflation and surge in demand for these raw materials fuel their prices in the fresh past. Besides, players who serve in the automotive tire market require many raw materials to overcome the demand for the tire from the automotive industry. Ambiguity in the pricing of these raw materials proves to be a significant limitation for the development of the rubber tire market globally.

Impact of COVID-19 in the industry

The automotive & transportation industry is among the barest verticals to the continuing COVID-19 eruption and is currently amidst unparalleled uncertainty. COVID-19 is predictable to significantly impact the supply chain and product requests in the automotive sector. The industry's worry has moved on from being placed on supply chain disturbance from China to the overall slump in the request for automotive products. The demand for commercial vehicles is predictable to plummet with the shutdown of all non-essential services. Furthermore, changes in consumer buying conduct due to doubt nearby the pandemic may have severe consequences for the industries near upcoming growth. Meanwhile, liquidity shortfall and cash crunch have already impacted fleet operators' sales, which is further expected to widen over the next few months. We are unceasingly monitoring the COVID-19 pandemic and measuring its impact on the automotive & transportation industry's development.

Global Tires Market

Segmental Coverage

Global Tires Market: By Type

Based on product, the market is segmented into radial tires and bias tires. The radial tires are dominating the market during the projected forecast period owing to the Radial ply tires are extensively employed in vehicles nowadays due to their superior benefits like as improved ground grip and high-speed stability, whereas diagonal tires have mostly been phased out, with just a few low-speed and heavy-duty trucks or construction gear still in use. Radial tires provide many important benefits, such as less soil compaction and more traction, but bias tires have a role in the right applications.

Global Tires Market Share

Global Tires Market: By Application

Based on application, the market is classified into passenger cars, light commercial vehicles, heavy commercial vehicles, two wheelers. The passenger cars are dominating the market during the forecast period owing to supporting the weight of a vehicle, transferring, accelerating, and braking force to the ground, altering and maintaining direction, and absorbing shock from the road surface are all aspects that contribute to the vehicle’s performance. The revenue growth of passenger automobiles, particularly in emerging nations, is one of the major drivers boosting tire demand throughout the world. According to the article published by times of India, domestic passenger vehicles sales rose by 23 per cent to a record of 37.93 lakh units in 2022 led by the by the likes of Maruti Suzuki, Hyundai and Tata Motors as as the companies rode on easing of pandemic.

Global Tires Market: By Region

By geography, the global Tires Market segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In 2022, Asia-Pacific is the leading player and holding more than half of the market share. China is the central hub for business through industries and one of the firmest rising economies in the world. The request for materials like coal, iron ore, gold, and copper are growing. As a result, the demand for mining truck tires has gone up as well. Besides, investments in the mining sector are predictable to help as a good opportunity for heavy-duty tire manufacturers. Whereas in April 2021, the China Association of Automobile Manufacturers (CAAM) announced that according to aggregated data of sales figures for major companies, cumulative sales from January to March reached 6.344 million units.

Competitive Landscape

The desire for high-quality, safe tyres drove automakers and end-users to prefer goods from well-known manufacturers over smaller regional businesses. Furthermore, these major firms have significantly expanded their R&D investment in order to merge innovation with performance excellence. As a consequence, high grade tyres for off-road and on-road applications have been developed. Major players operating in global drug discovery services market include Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan) and other prominent players.

Recent Development:

  • April 2023: French tyre major Michelin is actively considering production of passenger vehicle tyres locally in India, according to the group Chief Executive Officer Florent Menegaux. The local manufacturing would help the Clermont-Ferrand based tyre major to scale up operations in India, which remain critically subdued with the government introducing import restrictions in 2020.

  • June 2021: Goodyear Tire and Rubber Company, a US-based tire manufacturing company acquired Cooper Tire and Rubber Company for an undisclosed amount. The acquisition combines two leading tire companies with complementary product portfolios, services, and capabilities to create a stronger U.S.-based leader in the global tire industry. Cooper Tire and Rubber Company is a US-based tire manufacturing company.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Billion

Market Coverage

North America (US, Canada), Europe (Germany, UK, France, Italy, Spain, The Netherlands, Belgium, NORDIC Countries, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, Peru, Colombia, Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Qatar, Kuwait, Iran, South Africa, Nigeria, Kenya, Egypt, Morocco, Algeria, Rest of Middle East & Africa)

Product/ Service Segmentation

Product, Application, Demand Category and Region

Key Players

Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan) and other prominent players.

 

By Type

  • Radial

  • Bias

By Application

  • Passenger Cars

  • Light Commercial Vehicles

  • Heavy Commercial Vehicles

  • Two Wheelers

By Demand Category

  • OEM

  • Replacement

By Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East and Africa

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. Global Tires Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increase in Automotive Production & Sales
        2. Growing demand for tires in emerging markets due to economic development and urbanization
        3. Advancements in tire technology, leading to improved safety, performance, and durability
      2. Restraints
        1. Unstable Prices of Raw Materials
        2. Environmental concerns regarding tire disposal and waste management
      3. Opportunities
        1. Increasing adoption of electric vehicles, creating a new segment for specialized tires.
        2. Growing demand for high-performance and specialty tires, including winter tires, off-road tires, and eco-friendly tires
      4. Challenges
        1. Adapting to changing consumer preferences and evolving regulatory requirements
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
    6. Price Point Analysis: Global Automotive Memory, 2019-2022
  4. Global Tires Market Overview
    1. Market Size & Forecast by Value, 2019-2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product
        1. Radial
        2. Bias
      2. By Application
        1. Passenger Cars
        2. Light Commercial Vehicles
        3. Heavy Commercial Vehicles
        4. Two Wheelers
      3. By Demand Category
        1. OEM
        2. Replacement
      4. By Region
        1. North America
        2. Europe
        3. Asia Pacific
        4. Latin America
        5. Middle East and Africa
  5. North America Tires Market
    1. Market Size & Forecast by Value, 2019-2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By Demand Category
      4. By Country
        1. United States
          1. By Product
          2. By Application
          3. By Demand Category
        2. Canada
          1. By Product
          2. By Application
          3. By Demand Category
  6. Europe Tires Market
    1. Market Size & Forecast by Value, 2019-2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By Demand Category
      4. By Country
        1. Germany
          1. By Product
          2. By Application
          3. By Demand Category
        2. UK
          1. By Product
          2. By Application
          3. By Demand Category
        3. Italy
          1. By Product
          2. By Application
          3. By Demand Category
        4. France
          1. By Product
          2. By Application
          3. By Demand Category
        5. Spain
          1. By Product
          2. By Application
          3. By Demand Category
        6. The Netherlands
          1. By Product
          2. By Application
          3. By Demand Category
        7. Rest of Europe
          1. By Product
          2. By Application
          3. By Demand Category
  7. Asia Pacific Tires Market
    1. Market Size & Forecast by Value, 2019-2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By Demand Category
      4. By Country
        1. China
          1. By Product
          2. By Application
          3. By Demand Category
        2. India
          1. By Product
          2. By Application
          3. By Demand Category
        3. Japan
          1. By Product
          2. By Application
          3. By Demand Category
        4. South Korea
          1. By Product
          2. By Application
          3. By Demand Category
        5. Australia & New Zealand
          1. By Product
          2. By Application
          3. By Demand Category
        6. Indonesia
          1. By Product
          2. By Application
          3. By Demand Category
        7. Malaysia
          1. By Product
          2. By Application
          3. By Demand Category
        8. Singapore
          1. By Product
          2. By Application
          3. By Demand Category
        9. Philippines
          1. By Product
          2. By Application
          3. By Demand Category
        10. Vietnam
          1. By Product
          2. By Application
          3. By Demand Category
        11. Rest of Asia Pacific
          1. By Product
          2. By Application
          3. By Demand Category
  8. Latin America Tires Market
    1. Market Size & Forecast by Value, 2019-2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By Demand Category
      4. By Country
        1. Brazil
          1. By Product
          2. By Application
          3. By Demand Category
        2. Mexico
          1. By Product
          2. By Application
          3. By Demand Category
        3. Argentina
          1. By Product
          2. By Application
          3. By Demand Category
        4. Peru
          1. By Product
          2. By Application
          3. By Demand Category
        5. Colombia
          1. By Product
          2. By Application
          3. By Demand Category
        6. Rest of Latin America
          1. By Product
          2. By Application
          3. By Demand Category
  9.  Middle East & Africa Tires Market
    1. Market Size & Forecast by Value, 2019-2029
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product
      2. By Application
      3. By Demand Category
      4. By Country
        1. Saudi Arabia
          1. By Product
          2. By Application
          3. By Demand Category
        2. UAE
          1. By Product
          2. By Application
          3. By Demand Category
        3. Qatar
          1. By Product
          2. By Application
          3. By Demand Category
        4. Kuwait
          1. By Product
          2. By Application
          3. By Demand Category
        5. South Africa
          1. By Product
          2. By Application
          3. By Demand Category
        6. Nigeria
          1. By Product
          2. By Application
          3. By Demand Category
        7. Algeria
          1. By Product
          2. By Application
          3. By Demand Category
        8. Rest of Middle East & Africa
          1. By Product
          2. By Application
          3. By Demand Category
  10. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Global Tires Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
  11. Impact of Covid-19 on Global Tires Market
  12. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook and SWOT Analysis)
    1. Bridgestone Corporation
    2. Goodyear Tire & Rubber Company
    3. Continental AG
    4. Michelin
    5. Sumitomo Rubber Industries
    6. Yokohama Rubber Co., Ltd.
    7. Cooper Tire & Rubber Company
    8. Toyo Tire Corporation
    9. Kumho Tire Co., Ltd.
    10. Cheng Shin Rubber Ind. Co., Ltd. (Maxxis)
    11. Giti Tire Group
    12. Apollo Tyres Ltd.
    13. Other prominent players.
  13. Key Strategic Recommendations
  14. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figures

 

Figure 1    Global Tires Market Segmentation

Figure 2    Global Tires Market Value Chain Analysis

Figure 3    Company Market Share Analysis, 2022

Figure 4    Global Tires Market Size, By Value (USD Billion), 2019–2029

Figure 5    Global Tires Market Share, By Product, By Value, 2019–2029

Figure 6    Global Tires Market Share, By Application, By Value, 2019–2029

Figure 7    Global Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 8    Global Tires Market Share, By Region, By Value, 2019–2029

Figure 9    North America Tires Market Size, By Value (USD Billion), 2019–2029

Figure 10  North America Tires Market Share, By Product, By Value, 2019–2029

Figure 11  North America Tires Market Share, By Application, By Value, 2019–2029

Figure 12  North America Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 13  North America Tires Market Share, By Country, By Value, 2019–2029

Figure 14  United States Tires Market Size, By Value (USD Billion), 2019–2029

Figure 15  United States Tires Market Share, By Product, By Value, 2019–2029

Figure 16  United States Tires Market Share, By Application, By Value, 2019–2029

Figure 17  United States Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 18  Canada Tires Market Size, By Value (USD Billion), 2019–2029

Figure 19  Canada Tires Market Share, By Product, By Value, 2019–2029

Figure 20  Canada Tires Market Share, By Application, By Value, 2019–2029

Figure 21  Canada Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 22  Europe Tires Market Size, By Value (USD Billion), 2019–2029

Figure 23  Europe Tires Market Share, By Product, By Value, 2019–2029

Figure 24  Europe Tires Market Share, By Application, By Value, 2019–2029

Figure 25  Europe Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 26  Europe Tires Market Share, By Country, By Value, 2019–2029

Figure 27  Germany Tires Market Size, By Value (USD Billion), 2019–2029

Figure 28  Germany Tires Market Share, By Product, By Value, 2019–2029

Figure 29  Germany Tires Market Share, By Application, By Value, 2019–2029

Figure 30  Germany Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 31  United Kingdom Tires Market Size, By Value (USD Billion), 2019–2029

Figure 32  United Kingdom Tires Market Share, By Product, By Value, 2019–2029

Figure 33  United Kingdom Tires Market Share, By Application, By Value, 2019–2029

Figure 34  United Kingdom Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 35  Italy Tires Market Size, By Value (USD Billion), 2019–2029

Figure 36  Italy Tires Market Share, By Product, By Value, 2019–2029

Figure 37  Italy Tires Market Share, By Application, By Value, 2019–2029

Figure 38  Italy Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 39  France Tires Market Size, By Value (USD Billion), 2019–2029

Figure 40  France Tires Market Share, By Product, By Value, 2019–2029

Figure 41  France Tires Market Share, By Application, By Value, 2019–2029

Figure 42  France Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 43  Spain Tires Market Size, By Value (USD Billion), 2019–2029

Figure 44  Spain Tires Market Share, By Product, By Value, 2019–2029

Figure 45  Spain Tires Market Share, By Application, By Value, 2019–2029

Figure 46  Spain Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 47  The Netherlands Tires Market Size, By Value (USD Billion), 2019–2029

Figure 48  The Netherlands Tires Market Share, By Product, By Value, 2019–2029

Figure 49  The Netherlands Tires Market Share, By Application, By Value, 2019–2029

Figure 50  The Netherlands Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 51  Rest of Europe Tires Market Size, By Value (USD Billion), 2019–2029

Figure 52  Rest of Europe Tires Market Share, By Product, By Value, 2019–2029

Figure 53  Rest of Europe Tires Market Share, By Application, By Value, 2019–2029

Figure 54  Rest of Europe Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 55  The Asia-Pacific Tires Market Size, By Value (USD Billion), 2019–2029

Figure 56  The Asia-Pacific Tires Market Share, By Product, By Value, 2019–2029

Figure 57  The Asia-Pacific Tires Market Share, By Application, By Value, 2019–2029

Figure 58  The Asia-Pacific Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 59  The Asia-Pacific Tires Market Share, By Country, By Value, 2019–2029

Figure 60  China Tires Market Size, By Value (USD Billion), 2019–2029

Figure 61  China Tires Market Share, By Product, By Value, 2019–2029

Figure 62  China Tires Market Share, By Application, By Value, 2019–2029

Figure 63  China Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 64  India Tires Market Size, By Value (USD Billion), 2019–2029

Figure 65  India Tires Market Share, By Product, By Value, 2019–2029

Figure 66  India Tires Market Share, By Application, By Value, 2019–2029

Figure 67  India Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 68  Japan Tires Market Size, By Value (USD Billion), 2019–2029

Figure 69  Japan Tires Market Share, By Product, By Value, 2019–2029

Figure 70  Japan Tires Market Share, By Application, By Value, 2019–2029

Figure 71  Japan Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 72  South Korea Tires Market Size, By Value (USD Billion), 2019–2029

Figure 73  South Korea Tires Market Share, By Product, By Value, 2019–2029

Figure 74  South Korea Tires Market Share, By Application, By Value, 2019–2029

Figure 75  South Korea Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 76  Australia & New Zealand Tires Market Size, By Value (USD Billion), 2019–2029

Figure 77  Australia & New Zealand Tires Market Share, By Product, By Value, 2019–2029

Figure 78  Australia & New Zealand Tires Market Share, By Application, By Value, 2019–2029

Figure 79  Australia & New Zealand Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 80  Indonesia Tires Market Size, By Value (USD Billion), 2019–2029

Figure 81  Indonesia Tires Market Share, By Product, By Value, 2019–2029

Figure 82  Indonesia Tires Market Share, By Application, By Value, 2019–2029

Figure 83  Indonesia Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 84  Malaysia Tires Market Size, By Value (USD Billion), 2019–2029

Figure 85  Malaysia Tires Market Share, By Product, By Value, 2019–2029

Figure 86  Malaysia Tires Market Share, By Application, By Value, 2019–2029

Figure 87  Malaysia Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 88  Singapore Tires Market Size, By Value (USD Billion), 2019–2029

Figure 89  Singapore Tires Market Share, By Product, By Value, 2019–2029

Figure 90  Singapore Tires Market Share, By Application, By Value, 2019–2029

Figure 91  Singapore Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 92  Philippines Tires Market Size, By Value (USD Billion), 2019–2029

Figure 93  Philippines Tires Market Share, By Product, By Value, 2019–2029

Figure 94  Philippines Tires Market Share, By Application, By Value, 2019–2029

Figure 95  Philippines Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 96  Vietnam Tires Market Size, By Value (USD Billion), 2019–2029

Figure 97  Vietnam Tires Market Share, By Product, By Value, 2019–2029

Figure 98  Vietnam Tires Market Share, By Application, By Value, 2019–2029

Figure 99  Vietnam Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 100 Rest of Asia Pacific Tires Market Size, By Value (USD Billion), 2019–2029

Figure 101 Rest of Asia Pacific Tires Market Share, By Product, By Value, 2019–2029

Figure 102 Rest of Asia Pacific Tires Market Share, By Application, By Value, 2019–2029

Figure 103 Rest of Asia Pacific Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 104 Latin America Tires Market Size, By Value (USD Billion), 2019–2029

Figure 105 Latin America Tires Market Share, By Product, By Value, 2019–2029

Figure 106 Latin America Tires Market Share, By Application, By Value, 2019–2029

Figure 107 Latin America Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 108 Latin America Tires Market Share, By Country, By Value, 2019–2029

Figure 109 Brazil Tires Market Size, By Value (USD Billion), 2019–2029

Figure 110 Brazil Tires Market Share, By Product, By Value, 2019–2029

Figure 111 Brazil Tires Market Share, By Application, By Value, 2019–2029

Figure 112 Brazil Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 113 Mexico Tires Market Size, By Value (USD Billion), 2019–2029

Figure 114 Mexico Tires Market Share, By Product, By Value, 2019–2029

Figure 115 Mexico Tires Market Share, By Application, By Value, 2019–2029

Figure 116 Mexico Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 117 Argentina Tires Market Size, By Value (USD Billion), 2019–2029

Figure 118 Argentina Tires Market Share, By Product, By Value, 2019–2029

Figure 119 Argentina Tires Market Share, By Application, By Value, 2019–2029

Figure 120 Argentina Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 121 Peru Tires Market Size, By Value (USD Billion), 2019–2029

Figure 122 Peru Tires Market Share, By Product, By Value, 2019–2029

Figure 123 Peru Tires Market Share, By Application, By Value, 2019–2029

Figure 124 Peru Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 125 Colombia Tires Market Size, By Value (USD Billion), 2019–2029

Figure 126 Colombia Tires Market Share, By Product, By Value, 2019–2029

Figure 127 Colombia Tires Market Share, By Application, By Value, 2019–2029

Figure 128 Colombia Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 129 Rest of Latin America Tires Market Size, By Value (USD Billion), 2019–2029

Figure 130 Rest of Latin America Tires Market Share, By Product By Value, 2019–2029

Figure 131 Rest of Latin America Tires Market Share, By Application, By Value, 2019–2029

Figure 132 Rest of Latin America Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 133 The Middle East & Africa Tires Market Size, By Value (USD Billion), 2019–2029

Figure 134 The Middle East & Africa Tires Market Share, By Product, By Value, 2019–2029

Figure 135 The Middle East & Africa Tires Market Share, By Application, By Value, 2019–2029

Figure 136 The Middle East & Africa Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 137 The Middle East & Africa Tires Market Share, By Country, By Value, 2019–2029

Figure 138 Saudi Arabia Tires Market Size, By Value (USD Billion), 2019–2029

Figure 139 Saudi Arabia Tires Market Share, By Product, By Value, 2019–2029

Figure 140 Saudi Arabia Tires Market Share, By Application, By Value, 2019–2029

Figure 141 Saudi Arabia Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 142 UAE Tires Market Size, By Value (USD Billion), 2019–2029

Figure 143 UAE Tires Market Share, By Product, By Value, 2019–2029

Figure 144 UAE Tires Market Share, By Application, By Value, 2019–2029

Figure 145 UAE Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 146 Qatar Tires Market Size, By Value (USD Billion), 2019–2029

Figure 147 Qatar Tires Market Share, By Product, By Value, 2019–2029

Figure 148 Qatar Tires Market Share, By Application, By Value, 2019–2029

Figure 149 Qatar Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 150 Kuwait Tires Market Size, By Value (USD Billion), 2019–2029

Figure 151 Kuwait Tires Market Share, By Product, By Value, 2019–2029

Figure 152 Kuwait Tires Market Share, By Application, By Value, 2019–2029

Figure 153 Kuwait Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 154 South Africa Tires Market Size, By Value (USD Billion), 2019–2029

Figure 155 South Africa Tires Market Share, By Product, By Value, 2019–2029

Figure 156 South Africa Tires Market Share, By Application, By Value, 2019–2029

Figure 157 South Africa Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 158 Nigeria Tires Market Size, By Value (USD Billion), 2019–2029

Figure 159 Nigeria Tires Market Share, By Product, By Value, 2019–2029

Figure 160 Nigeria Tires Market Share, By Application, By Value, 2019–2029

Figure 161 Nigeria Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 162 Algeria Tires Market Size, By Value (USD Billion), 2019–2029

Figure 163 Algeria Tires Market Share, By Product, By Value, 2019–2029

Figure 164 Algeria Tires Market Share, By Application, By Value, 2019–2029

Figure 165 Algeria Tires Market Share, By Demand Category, By Value, 2019–2029

Figure 166 Rest of Middle East & Africa Tires Market Size, By Value (USD Billion), 2019–2029

Figure 167 Rest of Middle East & Africa Tires Market Share, By Product, By Value, 2019–2029

Figure 168 Rest of Middle East & Africa Tires Market Share, By Application, By Value, 2019–2029

Figure 169 Rest of Middle East & Africa Tires Market Share, By Demand Category, By Value, 2019–2029

 

List of Tables

 

Table 1      Global Tires Market Size, By Product, By Value, 2019–2029

Table 2      Global Tires Market Size, By Application, By Value, 2019–2029

Table 3      Global Tires Market Size, By Demand Category, By Value, 2019–2029

Table 4      Global Tires Market Size, By Region, By Value, 2019–2029

Table 5      North America Tires Market Size, By Product, By Value, 2019–2029

Table 6      North America Tires Market Size, By Application, By Value, 2019–2029

Table 7      North America Tires Market Size, By Demand Category, By Value, 2019–2029

Table 8      North America Tires Market Size, By Country, By Value, 2019–2029

Table 9      United States Tires Market Size, By Product, By Value, 2019–2029

Table 10    United States Tires Market Size, By Application, By Value, 2019–2029

Table 11    United States Tires Market Size, By Demand Category, By Value, 2019–2029

Table 12    Canada Tires Market Size, By Product, By Value, 2019–2029

Table 13    Canada Tires Market Size, By Application, By Value, 2019–2029

Table 14    Canada Tires Market Size, By Demand Category, By Value, 2019–2029

Table 15    Europe Tires Market Size, By Product, By Value, 2019–2029

Table 16    Europe Tires Market Size, By Application, By Value, 2019–2029

Table 17    Europe Tires Market Size, By Demand Category, By Value, 2019–2029

Table 18    Europe Tires Market Size, By Country, By Value, 2019–2029

Table 19    Germany Tires Market Size, By Product, By Value, 2019–2029

Table 20    Germany Tires Market Size, By Application, By Value, 2019–2029

Table 21    Germany Tires Market Size, By Demand Category, By Value, 2019–2029

Table 22    United Kingdom Tires Market Size, By Product, By Value, 2019–2029

Table 23    United Kingdom Tires Market Size, By Application, By Value, 2019–2029

Table 24    United Kingdom Tires Market Size, By Demand Category, By Value, 2019–2029

Table 25    Italy Tires Market Size, By Product, By Value, 2019–2029

Table 26    Italy Tires Market Size, By Application, By Value, 2019–2029

Table 27    Italy Tires Market Size, By Demand Category, By Value, 2019–2029

Table 28    France Tires Market Size, By Product, By Value, 2019–2029

Table 29    France Tires Market Size, By Application, By Value, 2019–2029

Table 30    France Tires Market Size, By Demand Category, By Value, 2019–2029

Table 31    Spain Tires Market Size, By Product, By Value, 2019–2029

Table 32    Spain Tires Market Size, By Application, By Value, 2019–2029

Table 33    Spain Tires Market Size, By Demand Category, By Value, 2019–2029

Table 34    The Netherlands Tires Market Size, By Product, By Value, 2019–2029

Table 35    The Netherlands Tires Market Size, By Application, By Value, 2019–2029

Table 36    The Netherlands Tires Market Size, By Demand Category, By Value, 2019–2029

Table 37    Rest of Europe Tires Market Size, By Product, By Value, 2019–2029

Table 38    Rest of Europe Tires Market Size, By Application, By Value, 2019–2029

Table 39    Rest of Europe Tires Market Size, By Demand Category, By Value, 2019–2029

Table 40    The Asia-Pacific Tires Market Size, By Product, By Value, 2019–2029

Table 41    The Asia-Pacific Tires Market Size, By Application, By Value, 2019–2029

Table 42    The Asia-Pacific Tires Market Size, By Demand Category, By Value, 2019–2029

Table 43    The Asia-Pacific Tires Market Size, By Country, By Value, 2019–2029

Table 44    China Tires Market Size, By Product, By Value, 2019–2029

Table 45    China Tires Market Size, By Application, By Value, 2019–2029

Table 46    China Tires Market Size, By Demand Category, By Value, 2019–2029

Table 47    India Tires Market Size, By Product, By Value, 2019–2029

Table 48    India Tires Market Size, By Application, By Value, 2019–2029

Table 49    India Tires Market Size, By Demand Category, By Value, 2019–2029

Table 50    Japan Tires Market Size, By Product, By Value, 2019–2029

Table 51    Japan Tires Market Size, By Application, By Value, 2019–2029

Table 52    Japan Tires Market Size, By Demand Category, By Value, 2019–2029

Table 53    South Korea Tires Market Size, By Product, By Value, 2019–2029

Table 54    South Korea Tires Market Size, By Application, By Value, 2019–2029

Table 55    South Korea Tires Market Size, By Demand Category, By Value, 2019–2029

Table 56    Australia & New Zealand Tires Market Size, By Product, By Value, 2019–2029

Table 57    Australia & New Zealand Tires Market Size, By Application, By Value, 2019–2029

Table 58    Australia & New Zealand Tires Market Size, By Demand Category, By Value, 2019–2029

Table 59    Indonesia Tires Market Size, By Product, By Value, 2019–2029

Table 60    Indonesia Tires Market Size, By Application, By Value, 2019–2029

Table 61    Indonesia Tires Market Size, By Demand Category, By Value, 2019–2029

Table 62    Malaysia Tires Market Size, By Product, By Value, 2019–2029

Table 63    Malaysia Tires Market Size, By Application, By Value, 2019–2029

Table 64    Malaysia Tires Market Size, By Demand Category, By Value, 2019–2029

Table 65    Singapore Tires Market Size, By Product, By Value, 2019–2029

Table 66    Singapore Tires Market Size, By Application, By Value, 2019–2029

Table 67    Singapore Tires Market Size, By Demand Category, By Value, 2019–2029

Table 68    Philippines Tires Market Size, By Product, By Value, 2019–2029

Table 69    Philippines Tires Market Size, By Application, By Value, 2019–2029

Table 70    Philippines Tires Market Size, By Demand Category, By Value, 2019–2029

Table 71    Vietnam Tires Market Size, By Product, By Value, 2019–2029

Table 72    Vietnam Tires Market Size, By Application, By Value, 2019–2029

Table 73    Vietnam Tires Market Size, By Demand Category, By Value, 2019–2029

Table 74    Rest of Asia Pacific Tires Market Size, By Product, By Value, 2019–2029

Table 75    Rest of Asia Pacific Tires Market Size, By Application, By Value, 2019–2029

Table 76    Rest of Asia Pacific Tires Market Size, By Demand Category, By Value, 2019–2029

Table 77    Latin America Tires Market Size, By Product, By Value, 2019–2029

Table 78    Latin America Tires Market Size, By Application, By Value, 2019–2029

Table 79    Latin America Tires Market Size, By Demand Category, By Value, 2019–2029

Table 80    Latin America Tires Market Size, By Country, By Value, 2019–2029

Table 81    Brazil Tires Market Size, By Product, By Value, 2019–2029

Table 82    Brazil Tires Market Size, By Application, By Value, 2019–2029

Table 83    Brazil Tires Market Size, By Demand Category, By Value, 2019–2029

Table 84    Mexico Tires Market Size, By Product, By Value, 2019–2029

Table 85    Mexico Tires Market Size, By Application, By Value, 2019–2029

Table 86    Mexico Tires Market Size, By Demand Category, By Value, 2019–2029

Table 87    Argentina Tires Market Size, By Product, By Value, 2019–2029

Table 88    Argentina Tires Market Size, By Application, By Value, 2019–2029

Table 89    Argentina Tires Market Size, By Demand Category, By Value, 2019–2029

Table 90    Peru Tires Market Size, By Product, By Value, 2019–2029

Table 91    Peru Tires Market Size, By Application, By Value, 2019–2029

Table 92    Peru Tires Market Size, By Demand Category, By Value, 2019–2029

Table 93    Colombia Tires Market Size, By Product, By Value, 2019–2029

Table 94    Colombia Tires Market Size, By Application, By Value, 2019–2029

Table 95    Colombia Tires Market Size, By Demand Category, By Value, 2019–2029

Table 96    Rest of Latin America Tires Market Size, By Product, By Value, 2019–2029

Table 97    Rest of Latin America Tires Market Size, By Application, By Value, 2019–2029

Table 98    Rest of Latin America Tires Market Size, By Demand Category, By Value, 2019–2029

Table 99    The Middle East & Africa Tires Market Size, By Product, By Value, 2019–2029

Table 100  The Middle East & Africa Tires Market Size, By Application, By Value, 2019–2029

Table 101  The Middle East & Africa Tires Market Size, By Demand Category, By Value, 2019–2029

Table 102  The Middle East & Africa Tires Market Size, By Country, By Value, 2019–2029

Table 103  Saudi Arabia Tires Market Size, By Product, By Value, 2019–2029

Table 104  Saudi Arabia Tires Market Size, By Application, By Value, 2019–2029

Table 105  Saudi Arabia Tires Market Size, By Demand Category, By Value, 2019–2029

Table 106  UAE Tires Market Size, By Product, By Value, 2019–2029

Table 107  UAE Tires Market Size, By Application, By Value, 2019–2029

Table 108  UAE Tires Market Size, By Demand Category, By Value, 2019–2029

Table 109  Qatar Tires Market Size, By Product, By Value, 2019–2029

Table 110  Qatar Tires Market Size, By Application, By Value, 2019–2029

Table 111  Qatar Tires Market Size, By Demand Category, By Value, 2019–2029

Table 112  Kuwait Tires Market Size, By Product, By Value, 2019–2029

Table 113  Kuwait Tires Market Size, By Application, By Value, 2019–2029

Table 114  Kuwait Tires Market Size, By Demand Category, By Value, 2019–2029

Table 115  South Africa Tires Market Size, By Product, By Value, 2019–2029

Table 116  South Africa Tires Market Size, By Application, By Value, 2019–2029

Table 117  South Africa Tires Market Size, By Demand Category, By Value, 2019–2029

Table 118  Nigeria Tires Market Size, By Product, By Value, 2019–2029

Table 119  Nigeria Tires Market Size, By Application, By Value, 2019–2029

Table 120  Nigeria Tires Market Size, By Demand Category, By Value, 2019–2029

Table 121  Algeria Tires Market Size, By Product, By Value, 2019–2029

Table 122  Algeria Tires Market Size, By Application, By Value, 2019–2029

Table 123  Algeria Tires Market Size, By Demand Category, By Value, 2019–2029

Table 124  Rest of Middle East & Africa Tires Market Size, By Product, By Value, 2019–2029

Table 125  Rest of Middle East & Africa Tires Market Size, By Application, By Value, 2019–2029

Table 126  Rest of Middle East & Africa Tires Market Size, By Demand Category, By Value, 2019–2029

Table 127  Bridgestone Corporation Company Overview

Table 128  Bridgestone Corporation Financial Overview

Table 129  Goodyear Tire & Rubber Company Overview

Table 130  Goodyear Tire & Rubber Company Financial Overview

Table 131  Continental AG Company Overview

Table 132  Continental AG Financial Overview

Table 133  Michelin Company Overview

Table 134  Michelin Financial Overview

Table 135  Sumitomo Rubber Industries Company Overview

Table 136  Sumitomo Rubber Industries Financial Overview

Table 137  Yokohama Rubber Co., Ltd. Company Overview

Table 138  Yokohama Rubber Co., Ltd. Financial Overview

Table 139  Cooper Tire & Rubber Company Overview

Table 140  Cooper Tire & Rubber Company Financial Overview

Table 141  Toyo Tire Corporation Company Overview

Table 142  Toyo Tire Corporation Financial Overview

Table 143  Kumho Tire Co., Ltd. Company Overview

Table 144  Kumho Tire Co., Ltd. Financial Overview

Table 145  Cheng Shin Rubber Ind. Co., Ltd. (Maxxis) Company Overview

Table 146  Cheng Shin Rubber Ind. Co., Ltd. (Maxxis) Financial Overview

Table 147  Giti Tire Group Company Overview

Table 148  Giti Tire Group Financial Overview

Table 149  Apollo Tyres Ltd. Company Overview

Table 150  Apollo Tyres Ltd. Financial Overview

Market Segmentation

 By Type

ü Radial

ü Bias

By Application

ü Passenger Cars

ü Light Commercial Vehicles

ü Heavy Commercial Vehicles

ü Two Wheelers

By Demand Category

ü OEM

ü Replacement

By Region

ü North America

ü Europe

ü Asia Pacific

ü South America

ü Middle East & Africa

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Frequently Asked Questions (FAQs):

Ans: In 2022, Global Tires Market size was estimated at USD 276.36 billion.
Ans: There is a growth in the demand for tires exponentially due to the rise in vehicle manufacturers' request to provide to the surge in the obligation of vehicles across all segments. Thus, the tired request is ultimately ruled by automobile production. The global tire market is driven by an increase in automotive production & sales across diverse vehicles segment and a rise in rivalry among tire manufacturers. Besides, the outline of progressive technology in the manufacturing process is expected to push the automotive tire market's development.
Ans: Key players in Global Tires Market include Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan) and other prominent players.
Ans: The passenger’s car segment is expected to hold the highest market share in Global Tires Market by application.
Ans: Asia-Pacific is the leading player and holding more than half of the market share during the forecast period.