Global Tire (Tyre) Market Comprehensive Analysis and Forecast 2024 to 2029

Global Tire (Tyre) Market Overview: 2024-2029
Base Year: 2023
Historical Years: 2019-22
Forecast Years: 2024-2029
The Global Tire Market size is valued at around USD 232 billion in 2023 and is estimated to grow at a CAGR of about 4.11% during the forecast period, i.e., 2024-29. The Global Tire (Tyre) Market is going through significant growth due to multiple drivers like technological advancements and, of course, increasing healthcare needs. The increase in road accidents throughout the country creates a greater demand for X-rays.
Markntel Advisor’s Global Tire (Tyre) Market Insights report provides the current and forecast market analysis, individual leading companies' market shares, challenges, Global Tire (Tyre) Market drivers, barriers, Global Tire (Tyre) Market Trends, and Key Players in Global Tire (Tyre) Market.
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Global Tire (Tyre) Market Dynamics: 2024-2029
Global Tire (Tyre) Market Trend:
Technological Advancement to be a Trending Aspect in the Market – Numerous technological advancements have been made in the tires, and nowadays, many manufacturers are launching highly advanced & innovative tyres in the market, thus becoming a trending aspect across the Tire Market in the present years. The introduction of rimless tires, green tires, and the usage of lightweight elastomers & metals such as alloys & carbon fiber or composites like manganese bronze & nickel aluminum bronze to manufacture tires are some of the technological advancements being done in the industry.
Furthermore, prominent tire manufacturers are integrating nanotechnology and other cutting-edge software & innovations into their tire production processes, resulting in a diverse range of advanced tire options. For instance, Bridgestone Tires, a renowned tire and rubber manufacturer, employs Contact Area Information Sensing (CAIS) technology to gather & assess data regarding the tire's contact area, enabling the detection of road conditions. Hence, with these advancements the future of transportation would transform completely, thus contributing to encouraging the market growth.
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Global Tire (Tyre) Market (2024-30): Segmentation Outlook
The market report has segmented the market into the following categories:
By Vehicle Type
-Two-wheeler- Market Size & Forecast 2019-2029, (Thousand Units)
-Three-wheeler- Market Size & Forecast 2019-2029, (Thousand Units)
-Passenger Car- Market Size & Forecast 2019-2029, (Thousand Units)
-Commercial Vehicle -Market Size & Forecast 2019-2029, (Thousand Units)
-Light Commercial Vehicle (LCV) -Market Size & Forecast 2019-2029, (Thousand Units)
-Medium & Heavy Commercial Vehicle (MHCV) -Market Size & Forecast 2019-2029, (Thousand Units)
-Off-the-Road Vehicle (OTR)-Market Size & Forecast 2019-2029, (Thousand Units)
By Demand Type
-OEM - Market Size & Forecast 2019-2029, (Thousand Units)
-Replacement - Market Size & Forecast 2019-2029, (Thousand Units)
By Tire Type
-Radial- Market Size & Forecast 2019-2029, (Thousand Units)
-Bias - Market Size & Forecast 2019-2029, (Thousand Units)
By Season
-Summer Tires- Market Size & Forecast 2019-2029, (Thousand Units)
-Winter Tires - Market Size & Forecast 2019-2029, (Thousand Units)
-All Season Tires- Market Size & Forecast 2019-2029, (Thousand Units)
By Sales Channel
-Direct Sales- Market Size & Forecast 2019-2029, (Thousand Units)
-Dealer Distributor - Market Size & Forecast 2019-2029, (Thousand Units)
-Online Platform- Market Size & Forecast 2019-2029, (Thousand Units)
By Rim Size
-Up to 12” - Market Size & Forecast 2019-2029, (Thousand Units)
-12.1” to 15” - Market Size & Forecast 2019-2029, (Thousand Units)
-15.1” to 18” - Market Size & Forecast 2019-2029, (Thousand Units)
-18” to 22.5” - Market Size & Forecast 2019-2029, (Thousand Units)
-22.6” to 26” - Market Size & Forecast 2019-2029, (Thousand Units)
-26.1” to 35” - Market Size & Forecast 2019-2029, (Thousand Units)
-35.1” to 47” - Market Size & Forecast 2019-2029, (Thousand Units)
-Above 47” - Market Size & Forecast 2019-2029, (Thousand Units)
By Price Category
-Budget- Market Size & Forecast 2019-2029, (Thousand Units)
-Economy- Market Size & Forecast 2019-2029, (Thousand Units)
-Premium- Market Size & Forecast 2019-2029, (Thousand Units)
By Region
-North America
-South America
-Europe
-The Middle East & Africa
-Asia-Pacific.
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Top Companies Operating in the Global Tire (Tyre) Market:
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.
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