PUBLISHER: The Business Research Company | PRODUCT CODE: 1816321
PUBLISHER: The Business Research Company | PRODUCT CODE: 1816321
Pneumatic tires are rubber tires filled with air under pressure, commonly used in various vehicles such as forklifts, tractors, and cars. They have strong rubber treads and excellent shock absorption, which help stabilize the vehicle and reduce bumps and jolts.
The main types of pneumatic tires are radial tires and cross-ply tires. Radial tires refer to a type of tire design where the cords are arranged at 90 degrees to the direction of travel, or radially from the center of the tire, and provide greater durability and performance. They are used in several vehicles, such as two-wheelers, four-wheelers, passenger cars, aircraft, and others. The various sales channels include original equipment manufacturer (OEM) and aftermarket.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The rapid escalation of U.S. tariffs and the resulting strain on trade relations in spring 2025 are significantly impacting the Paper, Plastics, Rubber, Wood, and Textile sector by driving up the costs of essential imported inputs such as pulp, resin, synthetic rubber, lumber, and cotton, many of which have limited domestic alternatives. Packaging manufacturers, for instance, are facing higher prices for plastic films and corrugated materials, further squeezing margins in an already highly price-sensitive environment. Similarly, textile producers are grappling with increased costs for imported yarns and dyes, adding to the burden of rising labor expenses. In response, some companies are turning to recycled or biodegradable materials, while others are consolidating their supplier base to secure bulk discounts.
The main types of pneumatic tires are radial tires and cross-ply tires. Radial tires refer to a type of tire design where the cords are arranged at 90 degrees to the direction of travel, or radially from the center of the tire, and provide greater durability and performance. They are used in several vehicles, such as two-wheelers, four-wheelers, passenger cars, aircraft, and others. The various sales channels include original equipment manufacturer (OEM) and aftermarket.
The pneumatic tire market size has grown strongly in recent years. It will grow from $392.55 billion in 2024 to $426.45 billion in 2025 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to growth of the automotive industry, economic conditions, environmental regulations, rising vehicle fleet, consumer preferences.
The pneumatic tire market size is expected to see strong growth in the next few years. It will grow to $582.97 billion in 2029 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to globalization of trade, raw material prices, government initiatives, infrastructure development, competition among tire manufacturers. Major trends in the forecast period include technological innovations, smart tires and sensor integration, innovations in tire materials, advancements in tire design and technology, tire connectivity and vehicle-to-tire communication.
The forecast of 8.1% growth over the next five years reflects a modest reduction of 0.4% from the previous estimate for this market. This reduction is primarily due to the impact of tariffs between the US and other countries. This is likely to directly affect the US through tariffs on rubber compounds and finished tires imported from China, India, and Thailand, potentially increasing operational costs for transportation and logistics operators. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
Increasing automobile production is expected to propel the growth of the pneumatic tire market going forward. Automobile production refers to the process of assembling components to build automobiles, trucks, and other motor vehicles. Pneumatic tires are used in modern transportation systems as they allow vehicles to travel over various surfaces, including asphalt, concrete, gravel, dirt, and sand. For instance, in May 2023, according to the European Automobile Manufacturers' Association (ACEA), a Belgium-based automobile industry, 85.4 million motor vehicles were produced globally in 2022, representing a 5.7% increase from 2021. Therefore, increasing automobile production is driving the growth of the pneumatic tire market.
Major companies operating in the pneumatic tire market are focused on introducing innovative solutions, such as pneumatic single-axle drive tires, to drive their revenues in the market. Pneumatic single-axle drive tires refer to a type of air-filled tire designed to be used in commercial trucks and other heavy-duty vehicles for long-haul trucking and other heavy-duty applications. For instance, in March 2023, The Goodyear Tire & Rubber Company, a US-based tire manufacturing company, launched the Fuel Max 1AD, a type of pneumatic tire specifically designed as a premium single-axle drive tire for use in super-regional trucking jobs. The tire is built with an innovative tread shape and combines features and compounds meant to deliver extended miles to removal. The new Fuel Max 1AD tire has additional features and advantages such as a high-density waffle blade, a hybrid Lug-to-Rib tread pattern, and an innovative new tread composition.
In May 2023, Yokohama Rubber Co. Ltd., a Japan-based tire company, completed the acquisition of Trelleborg Wheel Systems Holding AB for an undisclosed amount. This strategic acquisition aligns with Yokohama Rubber's initiatives to enhance its Off-Highway Tires (OHT) business, a key component of the company's future growth strategy in the commercial tire sector. Trelleborg Wheel Systems Holding AB is a Sweden-based manufacturer of pneumatic tires for agricultural and industrial machinery.
Major companies operating in the pneumatic tire market are Sumitomo Rubber Industries Ltd. (SRI), Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Company, Hankook tire Co. Ltd, Pirelli & C.S., The Yokohama rubber co. Ltd, Trelleborg AB, CST Tires, Apollo tires, Cooper tire & rubber company, MRF Tyres, Camso Solideal, JK tire & Industries Ltd, Nexen Tire Corporation, Nokian Tyres plc, Balkrishna Industries Limited (BKT), Aichi, TVS Rubber, Kumho tire Co, Purcell Tire & Rubber Co, Maxam Tire, Mitas Moto, Millennium Tire, Chaoyang Tires LLC, CM Rubber Technologies, TOKAI Solid Tire
Asia-Pacific was the largest region in the pneumatic tire market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the pneumatic tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the pneumatic tire market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The pneumatic tire market also includes sales of standard touring tires, performance tires, racing tires, lawn tires, and garden tires. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Pneumatic Tire Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on pneumatic tire market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for pneumatic tire ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The pneumatic tire market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.