Automotive Tire Market Overview
Automotive tires are pneumatic structures attached to the rims of a vehicle that convey vehicle power to the ground. Natural rubber, synthetic rubber, wire, and fabric are all used to make the tire. The global Automotive Tire market is expected to rise at a significant rate in the forthcoming years. Increased vehicle demand is predicted to enhance the automotive tires market. To broaden their product portfolio, several automakers provide a variety of models. A number of rim sizes are available for the vehicle models. Customers' increasing need for personalization and the variation of tire sizes according to the model are projected to increase the automotive tires market.
Additionally, SUV sales accounted for 34% of total car sales in China in 2017. The movement of the tire market toward larger rim sizes is due to the demand for high clearance and vehicles with a sporty appearance. The global demand for SUVs is likely to enhance the automotive tires market. The demand for low profile or low aspect ratio tires is increasing as the number of premium and luxury automobiles on the road grow. This aspect is also enhancing the growth of the global automotive tires market.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Rim Size, Material, Vehicle Type, Sales Channel, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A., Michelin AG, CEAT Ltd., Cooper Tire & Rubber Co., Ltd., Sumitomo Rubber Industries, Ltd., Toyo Tire & Rubber Co., Ltd. |
Covid-19 Impact on Automotive Tire Market
The outbreak of the covid-19 has a severe and swift impact on the automobile and transportation industry. This is majorly due to the shutdown of assembly plants in the US, interruptions across Europe in large-scale manufacturing, and disruption in the export of Chinese parts. In addition to this, the industry is dealing with reduced demand across the globe due to changes in customer behavior and shifts in a supply-demand chain. A recent study shows a 39% decline in sales of automotive all over the world. Moreover, the nationwide lockdowns have substantially affected the transportation sector. Restrictions on transportation accounted for a 45 to 55% decline in public as well as private transport sectors.
Automotive Tire Market Segment Overview
Based on Rim Size, the 18’’-21’’ rim size segment is estimated to expand in the forecast period. SUVs and crossovers accounted for 42% of vehicle sales in the United States and 26% of vehicle sales in Europe in 2017. The need for 18"-21" rim size tires is predicted to rise as passenger car demand shifts from sedans to SUVs.
Automotive Tire Market, By Rim Size
· 12’’-17’’
· 18’’-21’’
· >22’’
Automotive Tire Market, By Material
· Natural Rubber
· Synthetic Rubber
Automotive Tire Market, By Vehicle Type
· Passenger Vehicle
· Light Commercial Vehicle
· Heavy Commercial Vehicle
Automotive Tire Market, By Sales Channel
· OEM
· Aftermarket
Automotive Tire Regional Overview
In terms of region, the global Automotive Tire market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America and Europe are significant regions for the market. Moreover, the market in the Asia Pacific is projected to rise considerably in the forecast period. The expansion of the automobile industry in China, India, and South Korea has helped Asia Pacific increase its share of the global market.
Automotive Tire Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Automotive Tire Market Competitor overview
Some key developments and strategies adopted by manufacturers in Automotive Tire are highlighted below.
· In June 2018, a world first has been claimed by Bridgestone Corporation with the development of a polymer that bonds rubber and resins at the molecular level. Bridgestone believes this High Strength Rubber (HSR) polymer will lead to tyres that require fewer raw materials to deliver the performance expected from them.
Automotive Tire Market, Key Players
· Bridgestone Corporation
· Continental AG
· The Goodyear Tire & Rubber Company
· Pirelli & C.S.p.A.
· Michelin AG
· CEAT Ltd.
· Cooper Tire & Rubber Co., Ltd.
· Sumitomo Rubber Industries, Ltd.
· Toyo Tire & Rubber Co., Ltd.
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Automotive Tire market?
Customers' increasing need for personalization and the variation of tire sizes according to the model are projected to increase the Automotive Tire market
Q2. Which Segments are covered in the global Automotive Tire market report?
Rim Size, Aspect Ratio, Material, Ply, Tube, Season, Vehicle Type, Sales Channel, and Region. these segments are covered in the global Automotive Tire market report
Q3. Which segment is projected to hold the largest share in the global Automotive Tire market?
18’’-21’’ rim size segment is projected to hold the largest share in the global Automotive Tire market.
Q4. Which region holds the largest share in the global Automotive Tire market?
North America held the largest share in the global Automotive Tire market.
Q5. Which are the prominent players in the global Automotive Tire market?
Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A., Michelin AG, CEAT Ltd., Cooper Tire & Rubber Co., Ltd., Sumitomo Rubber Industries, Ltd., Toyo Tire & Rubber Co., Ltd. are some key players in the global Automotive Tire market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Automotive Tire Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Rim Size
- 5.2.1. 12’’-17’’
- 5.2.2. 18’’-21’’
- 5.2.3. >22’’
- 5.3. Market Analysis, Insights and Forecast – By Material
- 5.3.1. Natural Rubber
- 5.3.2. Synthetic Rubber
- 5.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 5.4.1. Passenger Vehicle
- 5.4.2. Light Commercial Vehicle
- 5.4.3. Heavy Commercial Vehicle
- 5.5. Market Analysis, Insights and Forecast – By Sales Channel
- 5.5.1. OEM
- 5.5.2. Aftermarket
- 5.6. Market Analysis, Insights and Forecast – By Region
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia Pacific
- 5.6.4. Latin America, Middle East and Africa
6. North America Automotive Tire Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Rim Size
- 6.2.1. 12’’-17’’
- 6.2.2. 18’’-21’’
- 6.2.3. >22’’
- 6.3. Market Analysis, Insights and Forecast – By Material
- 6.3.1. Natural Rubber
- 6.3.2. Synthetic Rubber
- 6.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 6.4.1. Passenger Vehicle
- 6.4.2. Light Commercial Vehicle
- 6.4.3. Heavy Commercial Vehicle
- 6.5. Market Analysis, Insights and Forecast – By Sales Channel
- 6.5.1. OEM
- 6.5.2. Aftermarket
- 6.6. Market Analysis, Insights and Forecast – By Country
- 6.6.1. U.S.
- 6.6.2. Canada
7. Europe Automotive Tire Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Rim Size
- 7.2.1. 12’’-17’’
- 7.2.2. 18’’-21’’
- 7.2.3. >22’’
- 7.3. Market Analysis, Insights and Forecast – By Material
- 7.3.1. Natural Rubber
- 7.3.2. Synthetic Rubber
- 7.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 7.4.1. Passenger Vehicle
- 7.4.2. Light Commercial Vehicle
- 7.4.3. Heavy Commercial Vehicle
- 7.5. Market Analysis, Insights and Forecast – By Sales Channel
- 7.5.1. OEM
- 7.5.2. Aftermarket
- 7.6. Market Analysis, Insights and Forecast – By Country
- 7.6.1. UK
- 7.6.2. Germany
- 7.6.3. France
- 7.6.4. Italy
- 7.6.5. Spain
- 7.6.6. Russia
- 7.6.7. Rest of Europe
8. Asia Pacific Automotive Tire Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Rim Size
- 8.2.1. 12’’-17’’
- 8.2.2. 18’’-21’’
- 8.2.3. >22’’
- 8.3. Market Analysis, Insights and Forecast – By Material
- 8.3.1. Natural Rubber
- 8.3.2. Synthetic Rubber
- 8.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 8.4.1. Passenger Vehicle
- 8.4.2. Light Commercial Vehicle
- 8.4.3. Heavy Commercial Vehicle
- 8.5. Market Analysis, Insights and Forecast – By Sales Channel
- 8.5.1. OEM
- 8.5.2. Aftermarket
- 8.6. Market Analysis, Insights and Forecast – By Country
- 8.6.1. China
- 8.6.2. India
- 8.6.3. Japan
- 8.6.4. Australia
- 8.6.5. South East Asia
- 8.6.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Automotive Tire Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Rim Size
- 9.2.1. 12’’-17’’
- 9.2.2. 18’’-21’’
- 9.2.3. >22’’
- 9.3. Market Analysis, Insights and Forecast – By Material
- 9.3.1. Natural Rubber
- 9.3.2. Synthetic Rubber
- 9.4. Market Analysis, Insights and Forecast – By Vehicle Type
- 9.4.1. Passenger Vehicle
- 9.4.2. Light Commercial Vehicle
- 9.4.3. Heavy Commercial Vehicle
- 9.5. Market Analysis, Insights and Forecast – By Sales Channel
- 9.5.1. OEM
- 9.5.2. Aftermarket
- 9.6. Market Analysis, Insights and Forecast – By Country
- 9.6.1. Brazil
- 9.6.2. Saudi Arabia
- 9.6.3. UAE
- 9.6.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. BMC Switzerland AG
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Boardman Bikes Ltd
- 10.6. Cannondale Automotive Tire Corporation (Cycling Sports Group, Inc.)
- 10.7. Firefox Bikes
- 10.8. Fuji Bike Worldwide
- 10.9. Giant Bicycle
- 10.10. SCOTT Sports SA
- 10.11. Shimano Inc.
- 10.12. Specialized Automotive Tire Components, Inc.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
