PUBLISHER: Roots Analysis | PRODUCT CODE: 1803905
PUBLISHER: Roots Analysis | PRODUCT CODE: 1803905
As per Roots Analysis, the global automotive tire market size is estimated to grow from USD 264.2 billion in the current year to USD 632.8 billion by 2035, at a CAGR of 8.26% during the forecast period, till 2035.
The opportunity for automotive tire market has been distributed across the following segments:
Type of Tire
Rim Size
Type of Season
Type of Vehicle
Type of Application
Type of Distribution Channel
Geographical Regions
Automotive Tire Market: Growth and Trends
The global tire market is a vital component of the automotive sector, crucial for vehicle performance and passenger safety. Tires are essential for providing traction, absorbing shocks, enhancing fuel efficiency, and improving the overall driving experience in vehicles. Additionally, there are notable advancements in tire technology, including improved safety features, increased fuel economy, and extended lifespans. The demand for eco-friendly automotive tires is anticipated to rise as the automotive industry transitions from traditional fuel to electric vehicles, necessitating the tire industry to adjust and evolve to meet new market requirements.
The natural gas vehicle sector within the automotive industry is experiencing continuous evolution, driven by innovative solutions and advancements in tire technology. This transition has facilitated the development of tires that deliver greater efficiency and high performance in vehicles. Some of the key technological innovations include smart tire technology, which offers real-time monitoring of air pressure and temperature, as well as the emergence of airless tires.
Another significant advancement is the global shift towards sustainable resources, resulting in an increased use of renewable rubber and optimized materials that address environmental concerns. Considering these factors, the automotive tire market is expected to experience significant growth during the forecast period.
Automotive Tire Market: Key Segments
Based on type of tire, the global automotive tire market is segmented into bias and radial. According to our estimates, currently, the radial category captures the majority share of the market. Moreover, this segment is anticipated to experience a relatively higher CAGR during the forecast period. This can be attributed to their superior performance attributes, such as improved fuel efficiency and greater durability.
Based on rim size, the automotive tire market is segmented into 13"-15", 16"-18", 19"-21" and >21". According to our estimates, currently, the 13"-15" segment captures the majority of the market. This growth can be attributed to the growing demand for compact vehicles, like hatchbacks and subcompacts, which generally use these smaller rim sizes. However, the 19"-21" segment is expected to grow at a higher CAGR during the forecast period, owing to the rising popularity of larger vehicles, such as SUVs and crossovers, which usually necessitate larger tires.
Based on type of season, the automotive tire market is segmented into all season, summer and winter. According to our estimates, currently, the all-season segment captures the majority share of the market.
Moreover, this segment is anticipated to experience a relatively higher CAGR during the forecast period. This trend can be attributed to their versatility and ability to perform in various weather conditions, making them a practical option for consumers looking for tires suitable for year-round use.
Based on type of vehicle, the automotive tire market is segmented into on the road and off the road. According to our estimates, currently, the passenger car segment captures the majority share of the market. This is due to the rising consumer demand for personal mobility, advancements in tire technology, and a transition towards more efficient and high-performance tires.
Based on type of application, the automotive tire market is segmented into OEM (original equipment manufacturer) and aftermarket. According to our estimates, currently, the on road segment captures the majority share of the market. Moreover, this segment is anticipated to experience a relatively higher CAGR during the forecast period. This growth can be linked to the increasing demand for passenger vehicles, fueled by higher disposable incomes and urban expansion, which significantly enhances the on-road tire market.
Based on company size, the automotive tire market is segmented into direct sales, distributor and retailer. According to our estimates, currently, the distributor segment captures the majority share of the market.
This can be attributed to their capability to efficiently oversee tire supply chain management, expand their customer reach, the rise of online tire sales, and their well-established extensive networks that enable effective connections between manufacturers, retailers, and end-users.
Based on geographical regions, the automotive tire market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority of the market share, due to strong transportation infrastructure and a commitment to technological innovation.
However, Asia is expected to witness a relatively higher CAGR during the forecast period, due to factors such as low labor costs, improving living standards, increased domestic consumption, and economic expansion in emerging markets like China and India.
Automotive Tire Market: Research Coverage
The report on the automotive tire market features insights on various sections, including:
Key Questions Answered in this Report
Reasons to Buy this Report
Additional Benefits