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Global Tire Market Size - Industry Trends & Outlook Report 2026

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  • 178 Pages
  • November 2020
  • Region: Global
  • Blueweave Consulting & Research Pvt Ltd
  • ID: 5230000
Tires form a vital component of the automobile industry. They deliver traction between the vehicle and the road while providing a flexible cushion that absorbs shock. They are factory-made using various materials, including natural and synthetic rubber, carbon black, polyester, rayon, steel, silica, and vulcanization accelerator. Nowadays, there is a wide-ranging variety of tires accessible globally, which caters to the necessity of different kinds of vehicles. Factors driving request for automobile tires include rising tire sales from OEMs on the back of increasing production of cars with many technological progressions in the automotive industry, shifting demand towards better lifespan, lightweight, environmentally friendly tires, coupled with growing tire sales in the spare segment across the globe owing to the continuous rise in the vehicle fleet size. Macro reasons which are driving the growth of the market include a healthy upswing in rural economies, focused on mechanization and the resultant strong demand for agricultural vehicle tires, beneficial retrieval in the global construction industry, increased expenses on construction vehicles, and a parallel increase in request for construction tires in the OEM market. Strong demand for commercial vehicle tires at the back of rising investments in fleet growth in the logistics industry; government focus on smart transportation, increased investment in BRT (Bus Rapid Transit) systems drive the market growth.

“Passenger Cars dominates the Application Segment”

The passenger Cars (PC) segment dominated the industry with over 40% revenue share in 2015. Requests for passenger cars are mainly particular to economic circumstances dictated by variation in exchange rates, GDP development, inflation levels, and government policy changes. Besides, volatile fuel prices and the transportation infrastructure also tend to influence demand for passenger cars. The universal need for PC is predictable to increase traction over the future, driven by the refining economic outlook in the U.S. and emerging markets such as China and India.

Growth Drivers

Increase in Automotive Production & Sales

Recently, the automobile industry has been undergoing rapid evolution owing to speedy progress, which has led to a growth in the sale of profitable vehicles such as trucks, tractors, and trailers. Besides, the rise in one-use income of people and developments in the standard of living are the factors that surge the sale of luxurious passenger cars and premium segment bikes. Furthermore, electric vehicle sales are predicted to rise throughout the forecast period. Also, a decrease in electric vehicle parts such as a battery, transmission, and alternators propel the sale of electric vehicles. Thus, a surge in demand for vehicles across all segments among consumers leads to a rise in automobiles and tires associated with it. Moreover, the global alliance of the automotive sector that results in mergers and acquisitions among international and domestic vehicle manufacturers boosts the development of the automotive industry, inducing the automotive tire market. Therefore, the development of the automobile sector is expected to rise the overall demand for tires.

“Asia-Pacific dominates the Global Tire Market”

Asia-Pacific is the leading player and holding more than half of the market share. China is the central hub for business through industries and one of the firmest rising economies in the world. The request for materials like coal, iron ore, gold, and copper is growing. As a result, the demand for mining truck tires has gone up as well. Besides, investments in the mining sector are predictable to help as a good opportunity for heavy-duty tire manufacturers. The country started feeling recovery in mining production, with the help of advanced technologies, in 2016. The surge in the mining production is likely to push demand for new building machinery in fields by replacing old machinery, which is additionally powering the mining tires' demand.

Global Tire Market: Competitive Landscape

Some of the leading players operating in the Global Tire Market are Bridgestone Corporation (Japan), Goodyear Tire & Rubber Company (United States), Continental AG (Germany), Michelin (France), and Sumitomo Rubber Industries (Japan) and other prominent players.

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Table of Contents

1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary & Secondary Sources
2.2. Quantitative Research
2.2.1. Primary & Secondary Sources
2.3. Breakdown of Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents
2.5. Market Size Estimation
2.6. Assumption For The Study
2.7. Market Breakdown & Data Triangulation
3. Executive Summary
4. Global Tire Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3. Technological Landscape
4.4. Regulatory Framework
4.5. Company Market Share Analysis,2019
4.6. Porter’s Five forces analysis
4.6.1. Bargaining Power of Suppliers
4.6.2. Bargaining Power of Buyers
4.6.3. Threat of New Entrants
4.6.4. Threat of Substitutes
4.6.5. Intensity of Rivalry
4.7. Strategic Outlook
5. Global Tire Market Overview
5.1. Market Estimates & Forecast By Value, 2016-2026
5.1.1. By Value (USD)
5.2. Market Share & Forecast
5.2.1. By Type Radial Bias
5.2.2. By Application Passenger Cars Light Commercial Vehicles Heavy Commercial Vehicles Two Wheelers
5.2.3. By Demand Category OEM Replacement
5.2.4. By Region North America Europe Asia Pacific South America Middle East & Africa
6. North America Tire Market
6.1. Market Estimates & Forecast By Value, 2016-2026
6.1.1. By Value (USD)
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By Application
6.2.3. By Demand Category
6.2.4. By Country U.S Canada
7. Europe Tire Market
7.1. Market Estimates & Forecast By Value, 2016-2026
7.1.1. By Value (USD)
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By Application
7.2.3. By Demand Category
7.2.4. By Country Germany U.K France Italy Rest of Europe
8. Asia Pacific Tire Market
8.1. Market Estimates & Forecast By Value, 2016-2026
8.1.1. By Value (USD)
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By Application
8.2.3. By Demand Category
8.2.4. By Country China India Japan South Korea Rest of APAC
9. South America Tire Market
9.1. Market Estimates & Forecast By Value, 2016-2026
9.1.1. By Value (USD)
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By Application
9.2.3. By Demand Category
9.2.4. By Country Brazil Mexico Argentina Rest of Latin America
10. Middle East & Africa Tire Market
10.1. Market Estimates & Forecast By Value, 2016-2026
10.1.1. By Value (USD)
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By Application
10.2.3. By Demand Category
10.2.4. By Country Saudi Arabia UAE South Africa Rest of MEA
11. Company Profile (Company Overview, Financial Matrix, Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)*
  • Bridgestone Corporation (Japan)
  • Goodyear Tire & Rubber Company (United States)
  • Continental AG (Germany)
  • Michelin (France)
  • Sumitomo Rubber Industries (Japan)
  • Other prominent players.

12. Strategic Recommendation
*Financial Details Not Be Captured in Case of Unlisted Companies
**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bridgestone Corporation (Japan)
  • Goodyear Tire & Rubber Company (United States)
  • Continental AG (Germany)
  • Michelin (France)
  • Sumitomo Rubber Industries (Japan)