Tire (Tyre) Market 2024 Comprehensive Analysis, Business Growing Strategies, Industry Segmentation and Forecast 2029

Tire (Tyre) Market 2024 Comprehensive Analysis, Business Growing Strategies, Industry Segmentation and Forecast 2029

The Tire (Tyre) Market report by MarkNtel Advisors – Market Research Company, offers a comprehensive analysis of the current state of the market, including an overview of key players, emerging trends, and future growth prospects. The report is segmented into various sections, each dedicated to different aspects of the market such as market size, geographical shares, competitive landscape, and market dynamics.

How Big is the Tire (Tyre) Industry?

The Global Tire (Tyre) Market size reached USD 232 Billion in 2023. Looking forward, it is expected to rise at a CAGR of around 4.11% during the forecast period 2024-2029.

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Challenge in the Tire Market:

Volatile Prices of Raw Materials to Impede the Industry Expansion – The volatile raw material prices might restrain the growth of the Global Tire Market during 2024-29. For all the commodities, the prices of raw materials determine the cost of the tire. Hence, pricing is one of the crucial aspects of the sales of the product. The surging prices of butadiene & EPDM rubber due to their limited production are hampering the production & sales of tires.

Furthermore, though tire manufacturing companies are constantly investing in developing sustainable materials, the amount of waste produced by tires is also increasing substantially. Due to this, governments of various countries worldwide have imposed stringent guidelines for tire manufacturers to adopt sustainable waste management solutions, which would lead to additional costs, thus hindering the overall market growth, owing to the limited number of buyers.

Competitor Breakdown: Top Tire Companies 2024-2029

• 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

Note: Additional or any 5 specific company in the Market can be added to the list without any Extra cost.

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Regional Analysis:

North America, Europe, Asia Pacific, Middle East & Africa, and South America

• Share of each region segment in the Market
• Potential growth opportunities in the region
• The growth rate of the region in the Industry

Breaking Down the Tire (Tyre) Market Segmentation:

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)
• 1” to 15” - Market Size & Forecast 2019-2029, (Thousand Units)
• 1” to 18” - Market Size & Forecast 2019-2029, (Thousand Units)
• 18” to 22.5” - Market Size & Forecast 2019-2029, (Thousand Units)
• 6” to 26” - Market Size & Forecast 2019-2029, (Thousand Units)
• 1” to 35” - Market Size & Forecast 2019-2029, (Thousand Units)
• 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)

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