+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Global Four-Wheeler Tires Market, By Tire Type, By Operation Type, By Application, By Weight, By Distribution Channel, Estimation & Forecast, 2017-2030

  • PDF Icon


  • 270 Pages
  • December 2022
  • Region: Global
  • Astute Analytica
  • ID: 5739186

Global Four-Wheeler Tires Market is projected to grow at a CAGR of 6.9% during the forecast period 2022-2030

The global four-wheeler tires market held a market value of USD 167.59 billion in 2021 and is estimated to reach USD 320.76 billion by the year 2030. The market is projected to list a CAGR of 6.8% during the forecast period.

The advent of numerous cutting-edge technology, rising car sales, and replacement cycles have all impacted demand trends in the sector. The safety, effectiveness, and total mileage of a vehicle are greatly influenced by the tyres. The development of sophisticated tyres that aid in better grip and durability as a result of increased R&D investments has increased demand. Unfavorable weather, road conditions, and vehicle overloading are also anticipated to increase market demand throughout the projection period.

The increasing strategic activities of companies fuels the growth rate of the market. For instance, Apollo Tires launched a new product in cross-ply technology for the commercial vehicle (CV) segment in India in April 2021. In addition to that, JK Tire established a cooperation with JBM Auto in April 2021 to supply radial tyres for JBM Auto's CITYLIFE CNG and ECOLIFE electrified buses. Also, Nokian Tyres PLC announced in March 2021 that it will increase its passenger car tyre production capacity at its Finnish facilities by roughly 30%.

Rapid infrastructure development in developing economies, particularly India and China, has resulted in an increase in commercial vehicle and construction vehicle sales. Vehicle manufacturers can make significant money from the replacement and aftermarket tyre industry. Customers prefer high-performance tyres to ordinary rubber tyres because rubber tyres wear and break readily.

Growth Influencers:

Government investments in logistics & transportation

As businesses strive to become carbon neutral by 2050, they are using green energy in their tyre manufacturing processes. They are doing this by making investments in green energy, energy-efficient equipment, and zero-carbon products. For instance, the Michelin Group declared in February 2021 that it was trying to have all of its tyres completely sustainable by the year 2050. Michelin collaborated on this with a number of groups, including Axens, IFP Energies Nouvelles, Pyrowave, Carbios, Enviro, and BlackCycle.

Increasing vehicle production

The rising demand and sales of vehicles boosts the growth of the market. For instance, India is another important market in the area. After a rough third quarter, passenger vehicle sales there improved and reached 3,10,294 units in October 2020, up 14.19% from 2,71,737 units in the same month last year. The Federation of Automobile Dealers Associations (FADA) reports that passenger vehicle sales increased by 4.17% in November 2020 to 2,91,001 units from 2,79,365 units in November 2019. The sales of new car tyres for vehicles in 2020 decreased by 36,439,000, or 17%, year over year, according to the '2020 Domestic Demand for Automobile Tires' report published by the Japan Automobile Tyre Manufacturers Association (JATMA). Due to COVID-19's impact, the first half of 2020 was impacted; nevertheless, demand for new car tyres started to propel soon after.

Segments Overview:

The global four-wheeler tires market is segmented into tire type, operation type, application, weight, distribution channel.

By Tire Type

  • Radial
  • Bias
The radial tire type segment is projected to hold the revenue of more than USD 200 billion for 2022 to 2030.

By Operation Type

  • Steer
  • Drive
  • Trailer
The drive segment held more than 45% of the market share in 2021.

By Application

  • Passenger Cars
  • Light Trucks
  • Truck
  • Bus
  • Off-Road Vehicles
The passenger cars segment is likely to cross the mark of USD 130 billion by 2030 - in terms of revenue.

By Weight

  • < 50 Kg
  • 50 - 80 Kg
  • 81 - 100 Kg
  • 101 - 150 Kg
  • > 150Kg
The less than 50 kg segment held the largest market share of more than 60% in 2021.

By Distribution Channel

  • OEMs
  • Aftermarket
The aftermarket segment is estimated to hold the highest growth rate of 7.9% over the forecast period.

Regional Overview

By region, the global four-wheeler tires market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The Asia Pacific market held the largest market share of more than 40% in 2021, with a revenue of USD 75.28 billion.

Competitive Landscape

The prominent players operating in the global four-wheeler tires market include Aeolus Tyre, Bridgestone, Cheng Shin Rubber, Continental, Cooper tire, Double Coin, Giti Tire, Goodyear, Hankook, KUMHO TIRE, Linglong Tire, Michelin, Pirelli, Sumitomo Rubber, Toyo Tires, Triangle Tire Group, Xingyuan group, YOKOHAMA, ZC Rubber, and others. The top ten players in the market held around 65% market share.

The global market is mid-level consolidated, with major producers like as Michelin, Bridgestone, Pirelli, and others catering to both passenger and commercial vehicle tyre needs. However, in regional and highly concentrated Asian vehicle markets such as China, India, and Indonesia, domestic tyre makers dominate the market. The desire for high-quality, safe tyres drove automakers and end-users to prefer products from well-known manufacturers over smaller regional players. Furthermore, these big players have increased their R&D spending exponentially to integrate innovation with performance excellence. As a result, high quality tyres for off-road and on-road applications have been developed. For instance, Toyo Tires generated 90.1% of the revenue from its business unit, tire, in 2021.

The global four-wheeler tires market report provides insights on the below pointers:

  • Market Penetration: Provides comprehensive information on the market offered by the prominent players
  • Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
  • Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
  • Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global four-wheeler tires market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players
  • Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
  • Pricing Analysis: Pricing analysis of various components used in the manufacturing of four-wheeler tires
  • Manufacturing Cost Analysis: Cost-share of various components in four-wheeler tires tools
  • Share of 4-wheeler tire in global industry
  • Tire growth, by volume
  • Raw material for a tire

The global four-wheeler tires market report answers questions such as:

  • What is the market size and forecast of the global four-wheeler tires market?
  • What are the inhibiting factors and impact of COVID-19 on the global four-wheeler tires market during the assessment period?
  • Which are the products/segments/applications/areas to invest in over the assessment period in the global four-wheeler tires market?
  • What is the competitive strategic window for opportunities in the global four-wheeler tires market?
  • What are the technology trends and regulatory frameworks in the global four-wheeler tires market?
  • What is the market share of the leading players in the global four-wheeler tires market?
  • What modes and strategic moves are considered favorable for entering the global four-wheeler tires market?

Table of Contents

Chapter 1. Research Framework
1.1. Objective
1.2. Product Overview
1.2.1. Market Segmentation
1.2.2. Market & Segment Definitions
1.3. Research Methodology
1.3.1. List of Primary & Secondary Sources
1.3.2. Market Size Estimation Assumption for the Study Data Triangulation
Chapter 2. Executive Summary: Global Four-Wheeler Tires Market
Chapter 3. Global Four-Wheeler Tires Market Overview
3.1. Industry Value Chain Analysis
3.1.1. Raw Material Provider
3.1.2. Processing and Packaging
3.1.3. Distributor
3.1.4. End users
3.2. Industry Outlook
3.2.1. Share of 4-wheeler tire in global industry
3.2.2. Tire growth, by volume
3.2.3. Raw material for a tire Natural Rubbers Silica Carbon Black Silane Coupling Agent Synthetic Rubbers Steel Fillers Others Annual International Trade Statistics by India, (Value Growth, YoY (%))
3.3. PESTLE Analysis
3.4. Porter's Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitutes
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Dynamics and Trends
3.5.1. Key Trends
3.5.2. Growth Drivers
3.5.3. Restraints/Challenges
3.6. Market Growth and Outlook
3.6.1. Market Revenue Estimates and Forecast (US$ Bn), 2017-2030
3.6.2. Market Volume Estimates and Forecast (Bn Units), 2017-2030
3.6.3. Pricing Analysis
3.7. Covid-19 Impact Assessment on Market Growth Trend
3.7.1. Growth Trend Shift Analysis
3.7.2. Industry Best Practices
3.8. Regulatory Landscape
Chapter 4. Competition Dashboard
4.1. Market Concentration Rate
4.2. Company Market Share Analysis (Value %), 2020
4.2.1. Market Share Analysis, By Product Passenger Cars Light Trucks Trucks and Buses
4.3. Competitor Mapping
Chapter 5. Four-Wheeler Tires Market Analysis, By Tire Type
5.1. Key Insights
5.2. Market Size and Forecast, 2017 - 2027 (US$ Mn and Mn Units)
5.2.1. Radial
5.2.2. Bias
Chapter 6. Four-Wheeler Tires Market Analysis, By Operation Type
6.1. Key Insights
6.2. Market Size and Forecast, 2017 - 2027 (US$ Mn and Mn Units) &
6.2.1. Steer
6.2.2. Drive
6.2.3. Trailer
Chapter 7. Four-Wheeler Tires Market Analysis, By Applications
7.1. Key Insights
7.2. Market Size and Forecast, 2017 - 2027 (US$ Mn and Mn Units) &
7.2.1. Passenger Cars
7.2.2. Light Trucks
7.2.3. Truck
7.2.4. Bus
7.2.5. Off-Road Vehicles Recreational Off-Highway Vehicles (ROV) Utility Task Vehicles (UTV) All-Terrain Vehicles (ATV)
Chapter 8. Four-Wheeler Tires Market Analysis, By Weight
8.1. Key Insights
8.2. Market Size and Forecast, 2017 - 2027 (US$ Mn and Mn Units)
8.2.1. < 50 Kg
8.2.2. 50 - 80 Kg
8.2.3. 80 - 100 Kg
8.2.4. 100 - 150 Kg
8.2.5. > 150Kg
Chapter 9. Four-Wheeler Tires Market Analysis, By Distribution Channel
9.1. Key Insights
9.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Bn Units)
9.2.1. Original Equipment Makers
9.2.2. Replacement/Aftermarket Market Brand Stores Independent Tire dealers Retail Tire Chains
Chapter 10. Global Four-Wheeler Tires Market Analysis, By Region
10.1. Key Insights
10.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Bn Units)
10.2.1. North America The U.S. Canada Mexico
10.2.2. Europe Western Europe The UK Germany France Italy Spain Rest of Western Europe Eastern Europe Poland Russia Rest of Eastern Europe
10.2.3. Asia Pacific China India Japan Australia & New Zealand ASEAN Rest of Asia Pacific
10.2.4. Middle East & Africa UAE Saudi Arabia South Africa Rest of MEA
10.2.5. South America Argentina Brazil Rest of South America
Chapter 11. North America Four-Wheeler Tires Market Analysis
11.1. Key Insights
11.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Bn Units)
11.2.1. By Tire Type
11.2.2. By Operation Type
11.2.3. By Application
11.2.4. By Weight
11.2.5. By Distribution Channel
11.2.6. By Country
Chapter 12. Europe Four-Wheeler Tires Market Analysis
12.1. Key Insights
12.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Bn Units)
12.2.1. By Tire Type
12.2.2. By Operation Type
12.2.3. By Application
12.2.4. By Weight
12.2.5. By Distribution Channel
12.2.6. By Country
Chapter 13. Asia Pacific Four-Wheeler Tires Market Analysis
13.1. Key Insights
13.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Bn Units)
13.2.1. By Tire Type
13.2.2. By Operation Type
13.2.3. By Application
13.2.4. By Weight
13.2.5. By Distribution Channel
13.2.6. By Country
Chapter 14. Middle East & Africa Four-Wheeler Tires Market Analysis
14.1. Key Insights
14.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
14.2.1. By Tire Type
14.2.2. By Operation Type
14.2.3. By Application
14.2.4. By Weight
14.2.5. By Distribution Channel
14.2.6. By Country
Chapter 15. South America Four-Wheeler Tires Market Analysis
15.1. Key Insights
15.2. Market Size and Forecast, 2017 - 2027 (US$ Bn and Mn Units)
15.2.1. By Tire Type
15.2.2. By Operation Type
15.2.3. By Application
15.2.4. By Weight
15.2.5. By Distribution Channel
15.2.6. By Country
Chapter 16. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)
16.1. Aeolus Tyre
16.2. Bridgestone
16.3. Cheng Shin Rubber
16.4. Continental
16.5. Cooper tire
16.6. Double Coin
16.7. Giti Tire
16.8. Goodyear
16.9. Hankook
16.11. Linglong Tire
16.12. Michelin
16.13. Pirelli
16.14. Sumitomo Rubber
16.15. Toyo Tires
16.16. Triangle Tire Group
16.17. Xingyuan group
16.19. ZC Rubber
16.20. Other Players

Executive Summary

The global four-wheeler tires market is likely to grow significantly over the forecast period owing to the increasing investments in transportation and logistics sector, coupled with rising vehicle production. The market is anticipated to reach USD 320.76 billion by 2030. Moreover, the key market players are actively involved in strategic initiatives, such as product launches, and joint ventures. Furthermore, the Asia Pacific market for four-wheeler tires held the largest market share owing to the presence of well-established players in the countries. The market is segmented based on type, operation type, application, weight, distribution channel.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Aeolus Tyre
  • Bridgestone
  • Cheng Shin Rubber
  • Continental
  • Cooper tire
  • Double Coin
  • Giti Tire
  • Goodyear
  • Hankook
  • Linglong Tire
  • Michelin
  • Pirelli
  • Sumitomo Rubber
  • Toyo Tires
  • Triangle Tire Group
  • Xingyuan group
  • ZC Rubber

Table Information