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Tire Market Size, Share, Growth, Revenue and Forecast 2021 to 2028

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The study presents the global Tire Market size, share, growth, historical breakdown data (2016-2020) and forecast (2021-2028). The Tire production, revenue and market share by manufacturers, key regions and type;

The consumption of Tire in volume terms are also provided for major countries (or regions), and for each application and product at the global level. Market share, growth rate, and competitive factors are also evaluated for market leaders Bridgestone Corporation, Continental AG, etc.

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A tire (American English) or tyre (British English; see spelling differences) is a ring-shaped component that surrounds a wheel’s rim to transfer a vehicle’s load from the axle through the wheel to the ground and to provide traction on the surface traveled over. Most tires, such as those for automobiles and bicycles, are pneumatically inflated structures, which also provide a flexible cushion that absorbs shock as the tire rolls over rough features on the surface. Tires provide a footprint that is designed to match the weight of the vehicle with the bearing strength of the surface that it rolls over by providing a bearing pressure that will not deform the surface excessively.

During winter, some countries in Europe such as Iceland, Russia, Latvia, and Norway have enacted regulations that make it mandatory to fit winter tires. Countries in Europe that experience mild winters and in some provinces of Canada, winter tires are partly mandatory when the weather permits. Therefore, the Europe and North America region are very lucrative for winter tire sales and is estimated to witness a steady expansion during the forecast period.

In developing countries the commercial vehicles still dominantly run on bias ply tire. The commercial vehicle segment is however undergoing a rapid radialization or shift of market epicenter from bias ply to radial ply. The developing region such as Asia Pacific and Latin America are thus estimated to witness a high growth of radial tires.

The automotive tire is a major aftermarket replacement part due to its nature to undergo wear and tear. Improvement in infrastructure is raising the number of miles driven, which in turn is boosting the replacement demand for automotive tires.

Key Players

Bridgestone Corporation, Continental AG, Michelin, The Goodyear Tire & Rubber Company, Pirelli & C.S.p.A, Apollo Tyres, CEAT Ltd, China National Tire & Rubber, Cooper Tire & Rubber, Giti Tire, Hangzhou Zhongce Rubber, Hankook Tire, JK Tyre & Industries, Kumho Tire, Nexen Tire Corporation, Nokian Tyres, Qingdao Fullrun Tyre, Sumitomo Rubber Industries, Toyo Tire & Rubber, Yokohoma Tire

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Market Segmentation

By Type
Bias Tire
Radial Tire

By Application
OEM
Aftermarket

By Vehicle Type
Passenger Cars
Light Commercial Vehicles
Medium and Heavy Commercial Vehicles
Off-The-Road (OTR)

By Distribution Channel
Offline
Online

By Season
All Season Tires
Winter Tires
Summer Tires

The study objectives are:

  • To analyze and research the global Tire status and future forecast,involving, production, revenue, consumption, historical and forecast.
  • To present the key Tire manufacturers, production, revenue, market share, SWOT analysis and development plans in next few years.
  • To segment the breakdown data by regions, type, manufacturers and applications.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends, drivers, influence factors in global and regions.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market.
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

In this study, the years considered to estimate the market size of Tire :

  • History Year: 2017 – 2020
  • Base Year: 2020
  • Estimated Year: 2021
  • Forecast Year: 2021 – 2028

This report includes the estimation of market size for value (million USD) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Tire market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

For the data information by region, company, type and application, 2020 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.

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