Future of Executive Summary Tire (Tyre) Market: Key Dynamics, Size & Share Analysis

The Global Tire Market size was valued at around USD 264.68 billion in 2024 and is projected to reach USD 394.55 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 6.88% during the forecast period, i.e., 2025-30. With the emergence of more efficient vehicles and a smoother infrastructure, the market is experiencing rapid growth & changes. The rise in vehicle production in developing countries & increased competition among tire manufacturers are the prime aspects projected to drive the market in the forecast years.

Top Market Challenges Impacting the Tire (Tyre) Market Growth

Volatile Prices of Raw Materials to Impede the Industry Expansion – The volatile raw material prices might restrain the growth of the Global Tire Market during 2025-30. For all the commodities, the prices of raw materials determine the cost of the tire. Hence, pricing is one of the crucial aspects of the sales of the product. The surging prices of butadiene & EPDM rubber due to their limited production are hampering the production & sales of tires.

Understanding the Core Segments in the Tire (Tyre) Market

Tire (Tyre) Market Size, Share & Industry Trends Analysis-By Type of Vehicle (Two Wheeler, Three Wheeler, Passenger Car, [Light Commercial Vehicle {LCV}, Medium & Heavy Commercial Vehicle {MHCV}], Off the Road Vehicle {OTR}), By Demand Type (OEM , Replacement), By Tire Type (Radial, Bias), By Season (Summer Tires, Winter Tires, All Season Tires), By Sales Channel (Direct Sales, Dealer Distributor, Online Platform), By Rim Size (Up to 12”, 12.1” to 15”, 15.1” to 18”, 18” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”), By Price Category (Budget, Economy, Premium).

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Geographical Analysis of the Tire (Tyre) Market

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Asia-Pacific is expecting the largest share of the Tire Market during 2025-30, owing to the burgeoning sales of passenger & commercial vehicles in emerging economies like China & India on account of rapid urbanization & increased industrial activities.

Who Dominates the Tire (Tyre) Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.

• Bridgestone Corporation
• Continental AG
• Hankook & Company Co., Ltd.
• Michelin
• Nokian Tyres Plc
• Pirelli & C. S.P.A.
• Sumitomo Rubber Industries, Ltd.
• The Yokohama Rubber Co., Ltd.
• Toyo Tire Corporation
• MRF Limited
• CEAT Limited
• JK Tire & Industries Ltd.
• Apollo Tires Ltd
• Zhongce Rubber Group Co., Ltd.
• Sailun Group Co., Ltd and others.

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