[185 Pages Report] The Automotive Tires Market size was estimated at USD 226.96 billion in 2023 and expected to reach USD 239.94 billion in 2024, at a CAGR 5.91% to reach USD 339.30 billion by 2030.

The automotive tire market comprises various tires designed for use on multiple types of vehicles, including passenger cars, commercial vehicles, and two-wheelers. It covers tire manufacturing, sales, and distribution across diverging segments, such as all-season, winter, and performance tires, with significant activity in the replacement tire aftermarket. Growth within this market is propelled by advancements in tire technology, which increase durability and performance, alongside stricter environmental regulations fostering eco-friendly tire production. Economic development, particularly in emerging economies, translates to surging vehicle ownership and tire demand, paralleled by an upswing in automotive manufacturing. Current opportunities are ripe in sustainable tire advancements, the emergence of smart tire technologies, and potential gains in burgeoning automotive markets. Conversely, challenges persist with raw material cost volatility, fierce competition, regulatory compliance costs, and technological shifts, such as the rise of electric vehicles. Tire research is advancing new materials for better tire lifespan and fuel economy, integrating IoT for enhanced tire monitoring, experimenting with eco-conscious raw materials, and customizing tires for niche markets. The development of advanced materials enhances tire longevity, fuel efficiency, and recyclability. Integration of IoT and sensor technologies for smart and connected tire solutions has spurred market growth. Exploration into alternative sustainable raw materials to reduce dependency on traditional rubber and mitigate environmental impact is a lucrative opportunity for the market. Customization and personalization of tires for specific market segments, such as high-performance sports tires or durable commercial vehicle tires.

In the Americas, particularly in the United States and Canada, the automotive tires market is mature, with a steady demand for replacement tires. Recent investments in the United States and Canada focus on sustainable tire technologies, such as using alternative materials to reduce environmental impact. Partnerships with advanced technology-providing companies are prevalent to incorporate sensors enabling smart monitoring of tire health. In Europe, EU regulations on tire labeling have promoted consumer awareness regarding fuel efficiency, wet grip, and noise levels, significantly influencing purchasing decisions. The market is keen on adopting green technologies and is responsive to innovations that offer environmental benefits. The increasing adoption of electric and hybrid vehicles is generating a demand for specialized tire designs tailored to the unique requirements of these vehicles. Investment in the EU is directed toward enhancing tire technology to comply with stringent environmental standards. In the Middle East, consumers have a penchant for luxury and high-performance vehicles, leading to demand for premium tires. Conversely, in Africa, the focus is on affordability and the ability to withstand rough terrain. The Asia-Pacific region is increasing and diversified, with China leading as one of the largest automotive tire markets backed by its massive automotive industry. Japan is renowned for technological innovation, while India presents a vast potential for growth due to its burgeoning vehicle population. Investment in Asia-Pacific is robust, focusing on capacity expansion to meet the growing domestic and export demands. R&D centers are burgeoning, with initiatives to develop tires specifically designed for electric vehicles, reflecting the global shift towards sustainable mobility.

The market dynamics represent an ever-changing landscape of the Automotive Tires Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

• Market Drivers
  • Surge in automotive production and sales worldwide
  • Growing awareness about tire safety and the need for frequent vehicular maintenance
  • Rising shift toward sustainable and green automotive tires
• Market Restraints
  • Incidences of product recall of automotive tires
• Market Opportunities
  • Advancements in automotive tire materials and designs and tire manufacturing technology
  • Introduction of next-generation smart tires for autonomous and self-driving vehicles
• Market Challenges
  • Technical limitations and safety issues of automotive tires

• Type: Increasing adoption of tubeless tires for safety features

  Tubed tires are a conventional type of automotive tire that require an inner tube to hold the air pressure that inflates to support the vehicle's weight and allow proper tire functionality. Tubed tires are often used in applications where the tires are subject to heavy-duty use in commercial vehicles along with bicycles, motorcycles, and off-road vehicles. Tubeless tires represent a more modern advancement in tire technology and are widely used across the automotive industry, particularly in passenger vehicles. Tubeless tires eliminate the requirement for an inner tube by relying on an airtight seal between the tire and the rim of the wheel and reduce the risk of a tire blowout.

• Rim Size: Significance of automotive tires based on rim size

  Tires with rim sizes ranging from 12 to 17 inches are commonly found on standard passenger vehicles, including subcompacts, compacts, and some mid-size cars. Typically, tires in the 12'' to 17'' size range offer a broad selection of tread patterns designed for various weather conditions and driving expectations. The 18 to 21 inch rim size range caters largely to sports sedans, performance vehicles, and lighter SUVs and crossovers. The consumer base for 18- to 21-inch rim-size tires often demands an optimal mix of performance, including improved handling, lower road noise, and higher speed ratings, without significantly compromising comfort. Tires for rims above 22 inches cater to a lucrative segment of the automotive market that includes luxury SUVs, high-performance cars, and custom vehicles.

• Material: Improved preference of synthetic rubbers for tire manufacturing

  Natural rubber is a crucial material in the tire industry and is derived from the latex found in the bark of rubber trees. Natural rubber is preferred for unique properties that make it ideal for use in automotive tires, such as high tensile strength, excellent abrasion resistance, and the ability to undergo strain crystallization. Synthetic rubber refers to artificial elastomers produced through the polymerization of monomers into long, chain-like molecules. Synthetic rubber is preferred over natural rubber for tire manufacturing due to thermal stability, resistance to aging, and specific mechanical properties.

• Distribution Channel: Provision of tailor-made tires for specific vehicle models by OEMs

  The aftermarket for automotive tires refers to the secondary market where consumers purchase tires after the vehicle's initial sale, including replacement tires purchased due to wear and tear, seasonal tire changes, or upgrades for improved performance. Aftermarket tires are chosen based on need, often influenced by price, brand preference, specific tire features, vehicle compatibility, and consumer reviews. Original equipment manufacturers (OEMs) channels include tires supplied directly to vehicle manufacturers and fitted to vehicles before being sold to the customer. This segment operates based on long-term contracts between tire manufacturers and automotive companies. The quality, performance specifications, durability, and strategic relationship between tire manufacturers and automakers typically guide the choice of OEM tires. Tires in this segment must meet stringent requirements set by the automakers and often involve co-branding. The aftermarket is driven by consumer choice and the replacement cycle, offering a broad range of products catering to diverse consumer needs and budgets. Various suppliers and brands in the aftermarket provide consumers with flexibility and competitive pricing.

• Vehicle Type: Introduction of tire technologies with improved comfort and efficiency for passenger vehicles

  Heavy light commercial vehicles typically include larger vans, minibusses, and small trucks, serving diverse purposes such as freight transport, logistics, and passenger conveyance over long distances. Tires designed for this segment prioritize durability, load-carrying capacity, and fuel efficiency to withstand long hours of operation and variable road conditions. Consequently, manufacturers often develop tires with reinforced sidewalls, deeper treads, and specialized rubber compounds tailored to these needs. Light commercial vehicles, such as smaller vans and pickup trucks, are designed for urban navigation and shorter-distance goods transportation. This subcategory demands tires that provide strength, load-bearing abilities, flexibility in maneuverability, and comfort to accommodate frequent stopping and starting in city environments. The tires for LCVs need to balance wear resistance with comfortable ride characteristics. HLCVs require robust, high-endurance tires that can handle significant loads and provide long service life even under harsh driving conditions. LCV tires, while also needing to be sturdy, prioritize balancing performance and comfort to navigate variable urban settings. Passenger vehicles encompass cars, SUVs, and crossovers used predominantly for personal transportation. Tires in this category focus on providing a comfortable ride, low noise level, and superior handling properties for everyday driving situations. They also vary widely, including economy tires, performance tires, and all-season varieties according to consumer preferences.

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Automotive Tires Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Automotive Tires Market.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Automotive Tires Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The value chain of the Automotive Tires Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

The pricing analysis comprehensively evaluates how a product or service is priced within the Automotive Tires Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Automotive Tires Market.

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Automotive Tires Market.

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Automotive Tires Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

The trade analysis of the Automotive Tires Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

The regulatory framework analysis for the Automotive Tires Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Automotive Tires Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Automotive Tires Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

• Kumho Announces New Solus 4S HA32 All-Weather Tire

  Kumho Tire USA aimed to redefine all-season driving with the launch of the Solus 4S HA32, a superior grand touring tire that promises unparalleled performance for passenger cars, CUVs, and SUVs. Masterfully engineered with a V-shaped directional tread and expansive lateral grooves, the tire ensures exceptional traction across all weather conditions. Further elevating its versatility, it boasts the prestigious 3-Peak Mountain Snowflake certification, making it a reliable companion in harsh winter climates. [Published On: 2023-12-05]

• Hankook Tire to Add Truck and Bus Tire Production Line to its European Plant

  Hankook Tire announced enhancing its European operations by introducing a state-of-the-art Truck Bus Radial (TBR) production line at its Rácalmás facility in Hungary, a decision greenlit. With an investment of EUR 540 million, the project anticipates creating 450 new jobs and aims to be operational by 2027, generating an estimated 2,380 TBR units daily, which scales up to 800,000 units annually. This strategic move is expected to bolster Hankook Tire’s global presence and total international production to over 102 million tires annually across its global network of eight plants. [Published On: 2023-11-24]

• PIF and Pirelli Announce Joint Venture to Establish Tire Manufacturing Facility in Saudi Arabia

  The Public Investment Fund (PIF) of Saudi Arabia, in partnership with Pirelli Tyre S.P.A, announced the formation of a joint venture to erect a state-of-the-art tire production facility within Saudi Arabia. This initiative aligns with Saudi Arabia's vision to transform into a pivotal automotive hub by 2030, a venture further exemplified by PIF's recent collaborations, such as a USD 500 million automotive plant with Hyundai Motor Company and the establishment of Tasaru, aimed at catalyzing the automotive and mobility sectors. [Published On: 2023-10-26]

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Automotive Tires Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The report delves into recent significant developments in the Automotive Tires Market, highlighting leading vendors and their innovative profiles. These include The Goodyear Tire & Rubber Company, Inoac Corporation, Haulmax Tyres, Hefei Wanli Tire Co., Ltd., Salsons Impex Pvt. Ltd. by Atlas Group, Sailun Group Co., Ltd., Nexen Tire Corporation, Apollo Tyres Limited, TVS Srichakra Ltd., Cheng Shin Rubber Ind. Co. Ltd., Kumho Tire Co., Inc., Hankook Tire & Technology Group, Xingyuan Tires Group, Bridgestone Corporation, Sinochem Group, Toyo Tire Corporation, Nokian Tyres PLC, Ralson (India) Limited, Pirelli & C.S.p.A., JK Tyre & Industries Ltd., Sumitomo Rubber Industries, Ltd., Madras Rubber Factory Limited, Triangle Tyre Co., Ltd., CEAT Ltd., Yokohama Rubber Co. Ltd., Giti Tire Pte Ltd., Zhongce Rubber Group Co., Ltd., Magna Tyres Group, Continental AG, and Michelin Corporation.

This research report categorizes the Automotive Tires Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
  • Tubed Tire
  • Tubeless Tire
• Rim Size
  • 12”-17”
  • 18”-21”
  • >22”
• Material
  • Natural Rubber
  • Synthetic Rubber
• Distribution Channel
  • Aftermarket
  • OEM
• Vehicle Type
  • Heavy Light Commercial Vehicle
  • Light Commercial Vehicle
  • Passenger Vehicle

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?