What Does the Global Tire (Tyre) Market Report Reveal About Industry Growth During 2025-2030?
A new study by MarkNtel Advisors takes a deep look at 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.
This comprehensive study provides data-driven insights into key market drivers, ongoing challenges, and emerging opportunities. It aims to help businesses, investors, and decision-makers understand the market’s direction, assess potential risks, and make strategic, informed decisions for future growth.
Download Your Free PDF Sample– Explore market size, trends, and growth forecast for 2025-2030 and make data-driven decisions today! https://www.marknteladvisors.com/query/request-sample/global-tire-market.html
What Is Driving the Growth of the Global Tire (Tyre) Market?
Mounting Prevalence of Electric Vehicles – One of the most prominent factors projected to drive the Tyre Market during 2025-30 is the rapidly surging electric vehicle (EV) production across developing countries. Growing awareness about the environment, coupled with increasing oil & gas prices worldwide, are shifting consumers toward buying EVs, which, in turn, would contribute significantly to the Tire Market growth. Electric cars require special tires for a variety of reasons. In comparison with ICE (Internal Combustion Engine) vehicles, tires used in EVs have to deal with more weight & provide better torque. Hence, with the burgeoning EV sales across developed countries, the demand for their tires would also ascend significantly, upscaling the demand graph in the future years.
What Challenges Exist in the Global Tire (Tyre) Market?
Global Tire (Tyre) Market Challenge:
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.
Furthermore, though tire manufacturing companies are constantly investing in developing sustainable materials, the amount of waste produced by tires is also increasing substantially. Due to this, governments of various countries worldwide have imposed stringent guidelines for tire manufacturers to adopt sustainable waste management solutions, which would lead to additional costs, thus hindering the overall market growth, owing to the limited number of buyers.
Comprehensive Analysis: Preview detailed market analysis, including segmentation, competitive landscape, and Geographical insights – https://www.marknteladvisors.com/research-library/global-tire-market.html
How Is the Global Tire (Tyre) Market Segmented?
The market is categorized into multiple segments to offer a comprehensive understanding of its structure and performance.
By Vehicle Type
-Two-wheeler- Market Size & Forecast 2020-2030, (Thousand Units)
-Three-wheeler- Market Size & Forecast 2020-2030, (Thousand Units)
-Passenger Car- Market Size & Forecast 2020-2030, (Thousand Units)
-Commercial Vehicle -Market Size & Forecast 2020-2030, (Thousand Units)
-Light Commercial Vehicle (LCV) -Market Size & Forecast 2020-2030, (Thousand Units)
-Medium & Heavy Commercial Vehicle (MHCV) -Market Size & Forecast 2020-2030, (Thousand Units)
-Off-the-Road Vehicle (OTR)-Market Size & Forecast 2020-2030, (Thousand Units)
By Demand Type
-OEM – Market Size & Forecast 2020-2030, (Thousand Units)
-Replacement – Market Size & Forecast 2020-2030, (Thousand Units)
By Tire Type
-Radial- Market Size & Forecast 2020-2030, (Thousand Units)
-Bias – Market Size & Forecast 2020-2030, (Thousand Units)
By Season
-Summer Tires- Market Size & Forecast 2020-2030, (Thousand Units)
-Winter Tires – Market Size & Forecast 2020-2030, (Thousand Units)
-All Season Tires- Market Size & Forecast 2020-2030, (Thousand Units)
By Sales Channel
-Direct Sales- Market Size & Forecast 2020-2030, (Thousand Units)
-Dealer Distributor – Market Size & Forecast 2020-2030, (Thousand Units)
-Online Platform- Market Size & Forecast 2020-2030, (Thousand Units)
By Rim Size
-Up to 12” – Market Size & Forecast 2020-2030, (Thousand Units)
-12.1” to 15” – Market Size & Forecast 2020-2030, (Thousand Units)
-15.1” to 18” – Market Size & Forecast 2020-2030, (Thousand Units)
-18” to 22.5” – Market Size & Forecast 2020-2030, (Thousand Units)
-22.6” to 26” – Market Size & Forecast 2020-2030, (Thousand Units)
-26.1” to 35” – Market Size & Forecast 2020-2030, (Thousand Units)
-35.1” to 47” – Market Size & Forecast 2020-2030, (Thousand Units)
-Above 47” – Market Size & Forecast 2020-2030, (Thousand Units)
By Price Category
-Budget- Market Size & Forecast 2020-2030, (Thousand Units)
-Economy- Market Size & Forecast 2020-2030, (Thousand Units)
-Premium- Market Size & Forecast 2020-2030, (Thousand Units)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
Who Are the Key Players in the Global Tire (Tyre) Market?
The competitive landscape analysis focuses on major companies shaping the market through innovation, strategic expansion, and acquisitions.
Leading Companies Include:
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, Others.
These players are analyzed based on their market strategies, product portfolios, expansions, and partnerships to help readers understand how competition is evolving.
Why Should You Buy the Global Tire (Tyre) Market Report?
- Gain comprehensive insights into the industry’s growth drivers, restraints, and opportunities.
- Access data-backed intelligence on key market trends, emerging technologies, and investment prospects.
- Identify competitive strategies and business models adopted by leading players.
- Understand regional variations and their impact on global market performance.
- Leverage financial and strategic forecasts to make informed business decisions.
Can the Report Be Customized to Meet Specific Business Needs?
Yes. MarkNtel Advisors provides customized research reports tailored to your organization’s specific objectives and data requirements. These custom reports help businesses gain actionable insights, assess market competitiveness, and design effective strategies for sustainable growth.
Select a License That Matches Your Business Requirements with Instant Offer – https://www.marknteladvisors.com/pricing/global-tire-market.html
About us
MarkNtel Advisors is a premier market research and consulting firm with deep domain expertise in the tire industry, including off-the-road vehicle tires, performance tires, and comprehensive tire reports. Our research covers manufacturing processes, raw material trends, and market expansion strategies. Leveraging Competitive Intelligence, we help tire manufacturers, distributors, and investors benchmark performance, anticipate demand shifts, and implement data-driven strategies for achieving long-term competitiveness and sustainability.
MarkNtel Advisors is a leading Market Research Company and Industry Research Report Firm providing comprehensive intelligence across the tire industry, including off-the-road vehicle tires, performance tires, and comprehensive tire reports. Our data-backed Business Research and Market Research solutions deliver detailed insights at global, regional, and country levels, helping manufacturers, distributors, and investors understand demand patterns, regulatory standards, and competitive structures. Using verified Export and Import Data, robust Market Forecast models, and precision-driven Business Analysis, we identify evolving opportunities across OEM and replacement markets. Our Syndicated Research Reports and Customized Market Research Reports deliver reliable intelligence on pricing trends, sustainability, and technological innovation. Supported by expert Consulting Services, we quantify Revenue Impact and enables tire industry stakeholders to drive innovation, optimize growth, and sustain global competitiveness.
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