Product Code: ETC13378740 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | Author: Sachin Kumar Rai | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Tyres Market was valued at USD 28000 Billion in 2024 and is expected to reach USD 39500 Billion by 2031, growing at a compound annual growth rate of 4.6 during the forecast period (2025-2031).
The Global Tyres Market is experiencing steady growth driven by factors such as increasing vehicle sales, expanding automotive industry, and rising demand for replacement tires. Major trends influencing the market include the shift towards eco-friendly and fuel-efficient tires, advancements in tire technology like run-flat and self-sealing tires, and the growing popularity of electric vehicles. The market is characterized by intense competition among key players such as Bridgestone, Michelin, Goodyear, and Continental, who are focusing on product innovation, strategic partnerships, and geographical expansion to gain a competitive edge. Emerging economies in Asia-Pacific and Latin America are expected to present lucrative opportunities for market growth due to increasing vehicle ownership and infrastructure development. However, challenges such as volatile raw material prices and stringent regulations regarding tire manufacturing and disposal could impact market growth in the coming years.
The Global Tyres Market is experiencing several key trends and opportunities. One significant trend is the increasing demand for eco-friendly and sustainable tires, driven by environmental concerns and regulations. The shift towards electric vehicles is also influencing the market, as electric cars require specialized tires for optimal performance. Additionally, the rise of online tire sales and the adoption of advanced technologies like IoT for smart tires are creating new opportunities for market growth. Emerging markets in Asia-Pacific and Latin America present untapped potential for tire manufacturers to expand their customer base. Overall, the industry is focusing on innovation, product differentiation, and strategic partnerships to stay competitive in a rapidly evolving market landscape.
The Global Tyres Market faces several challenges, including fluctuating raw material prices, intense competition, and stringent regulations regarding tire manufacturing and disposal. The volatility of raw material prices, particularly for rubber, can impact the profitability of tire manufacturers. Additionally, the market is highly competitive, with numerous players vying for market share, leading to price wars and margin pressures. Moreover, increasing environmental concerns have resulted in stricter regulations surrounding tire production and disposal, requiring companies to invest in sustainable practices. Adapting to rapid technological advancements, such as the rise of electric vehicles and autonomous driving, also presents a challenge for tire manufacturers to innovate and meet changing consumer demands while ensuring compliance with evolving industry standards.
The Global Tyres Market is primarily driven by the increasing demand for vehicles worldwide, particularly in emerging economies. The rising disposable income levels, improving road infrastructure, and growing automotive industry are key factors contributing to the market growth. Additionally, advancements in tire technology, such as the development of eco-friendly and energy-efficient tires, are attracting consumers towards premium and specialty tires. The shift towards electric vehicles and the rising concern for fuel efficiency and safety are also driving the demand for high-performance tires. Furthermore, the expanding aftermarket segment, coupled with the growing trend of online tire sales, is further fueling the market growth. Overall, the Global Tyres Market is expected to continue expanding as the automotive industry evolves and consumer preferences shift towards sustainable and innovative tire solutions.
Government policies related to the Global Tyres Market vary by country but generally focus on environmental regulations, safety standards, and trade agreements. Many countries have implemented regulations to reduce emissions and promote the use of sustainable materials in tyre manufacturing. Safety standards such as the labeling of tyres for fuel efficiency and wet grip performance are also common. In terms of trade agreements, tariffs and import/export regulations can impact the global tyre market significantly, influencing prices and market dynamics. Overall, government policies play a crucial role in shaping the regulatory environment for the tyre industry, impacting everything from production processes to consumer behavior and market competitiveness.
The global tyres market is expected to witness steady growth in the coming years, driven by the increasing demand for automobiles worldwide. Factors such as rising vehicle production, expanding automotive aftermarket, and growing emphasis on fuel efficiency and sustainability are likely to contribute to market expansion. Additionally, advancements in tyre technology, including the development of smart tyres and eco-friendly materials, will further drive market growth. Emerging trends such as the adoption of electric vehicles and autonomous driving vehicles are also expected to create new opportunities for tyre manufacturers. However, challenges such as fluctuating raw material prices and regulatory changes regarding tyre manufacturing processes may impact the market. Overall, the global tyres market is poised for growth, with a focus on innovation and sustainability shaping its future trajectory.
In the Global Tyres Market, Asia is expected to dominate in terms of market share and growth due to the increasing automotive production and rising demand for tires in countries like China and India. North America is anticipated to witness steady growth driven by the presence of key market players and technological advancements in tire manufacturing. Europe is likely to experience moderate growth with stringent regulations on tire labeling and energy efficiency. The Middle East and Africa region is projected to show gradual growth due to improving infrastructure and expanding automotive sector. Latin America is expected to witness steady growth supported by a growing automotive industry and increasing consumer purchasing power. Overall, emerging economies in Asia and Latin America will drive the growth of the global tires market in the coming years.
Global Tyres Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Tyres Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Tyres Market Revenues & Volume, 2021 & 2031F |
3.3 Global Tyres Market - Industry Life Cycle |
3.4 Global Tyres Market - Porter's Five Forces |
3.5 Global Tyres Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Tyres Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Tyres Market Revenues & Volume Share, By Material, 2021 & 2031F |
3.8 Global Tyres Market Revenues & Volume Share, By Vehicle Type, 2021 & 2031F |
3.9 Global Tyres Market Revenues & Volume Share, By End Use, 2021 & 2031F |
4 Global Tyres Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Tyres Market Trends |
6 Global Tyres Market, 2021 - 2031 |
6.1 Global Tyres Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Tyres Market, Revenues & Volume, By Radial, 2021 - 2031 |
6.1.3 Global Tyres Market, Revenues & Volume, By Bias Ply, 2021 - 2031 |
6.1.4 Global Tyres Market, Revenues & Volume, By Tubeless, 2021 - 2031 |
6.1.5 Global Tyres Market, Revenues & Volume, By Tube Type, 2021 - 2031 |
6.2 Global Tyres Market, Revenues & Volume, By Material, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Tyres Market, Revenues & Volume, By Natural Rubber, 2021 - 2031 |
6.2.3 Global Tyres Market, Revenues & Volume, By Synthetic Rubber, 2021 - 2031 |
6.2.4 Global Tyres Market, Revenues & Volume, By Recycled Material, 2021 - 2031 |
6.2.5 Global Tyres Market, Revenues & Volume, By Carbon-Based, 2021 - 2031 |
6.3 Global Tyres Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Tyres Market, Revenues & Volume, By Passenger Cars, 2021 - 2031 |
6.3.3 Global Tyres Market, Revenues & Volume, By Commercial Vehicles, 2021 - 2031 |
6.3.4 Global Tyres Market, Revenues & Volume, By Two-Wheelers, 2021 - 2031 |
6.3.5 Global Tyres Market, Revenues & Volume, By Off-Road Vehicles, 2021 - 2031 |
6.4 Global Tyres Market, Revenues & Volume, By End Use, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Tyres Market, Revenues & Volume, By OEMs, 2021 - 2031 |
6.4.3 Global Tyres Market, Revenues & Volume, By Aftermarket, 2021 - 2031 |
6.4.4 Global Tyres Market, Revenues & Volume, By Fleet Operators, 2021 - 2031 |
6.4.5 Global Tyres Market, Revenues & Volume, By Agriculture and Construction, 2021 - 2031 |
7 North America Tyres Market, Overview & Analysis |
7.1 North America Tyres Market Revenues & Volume, 2021 - 2031 |
7.2 North America Tyres Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Tyres Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Tyres Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Tyres Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Tyres Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Tyres Market, Revenues & Volume, By Material, 2021 - 2031 |
7.5 North America Tyres Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
7.6 North America Tyres Market, Revenues & Volume, By End Use, 2021 - 2031 |
8 Latin America (LATAM) Tyres Market, Overview & Analysis |
8.1 Latin America (LATAM) Tyres Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Tyres Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Tyres Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Tyres Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Tyres Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Tyres Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Tyres Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Tyres Market, Revenues & Volume, By Material, 2021 - 2031 |
8.5 Latin America (LATAM) Tyres Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
8.6 Latin America (LATAM) Tyres Market, Revenues & Volume, By End Use, 2021 - 2031 |
9 Asia Tyres Market, Overview & Analysis |
9.1 Asia Tyres Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Tyres Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Tyres Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Tyres Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Tyres Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Tyres Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Tyres Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Tyres Market, Revenues & Volume, By Material, 2021 - 2031 |
9.5 Asia Tyres Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
9.6 Asia Tyres Market, Revenues & Volume, By End Use, 2021 - 2031 |
10 Africa Tyres Market, Overview & Analysis |
10.1 Africa Tyres Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Tyres Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Tyres Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Tyres Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Tyres Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Tyres Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Tyres Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Tyres Market, Revenues & Volume, By Material, 2021 - 2031 |
10.5 Africa Tyres Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
10.6 Africa Tyres Market, Revenues & Volume, By End Use, 2021 - 2031 |
11 Europe Tyres Market, Overview & Analysis |
11.1 Europe Tyres Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Tyres Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Tyres Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Tyres Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Tyres Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Tyres Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Tyres Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Tyres Market, Revenues & Volume, By Material, 2021 - 2031 |
11.5 Europe Tyres Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
11.6 Europe Tyres Market, Revenues & Volume, By End Use, 2021 - 2031 |
12 Middle East Tyres Market, Overview & Analysis |
12.1 Middle East Tyres Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Tyres Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Tyres Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Tyres Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Tyres Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Tyres Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Tyres Market, Revenues & Volume, By Material, 2021 - 2031 |
12.5 Middle East Tyres Market, Revenues & Volume, By Vehicle Type, 2021 - 2031 |
12.6 Middle East Tyres Market, Revenues & Volume, By End Use, 2021 - 2031 |
13 Global Tyres Market Key Performance Indicators |
14 Global Tyres Market - Export/Import By Countries Assessment |
15 Global Tyres Market - Opportunity Assessment |
15.1 Global Tyres Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Tyres Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Tyres Market Opportunity Assessment, By Material, 2021 & 2031F |
15.4 Global Tyres Market Opportunity Assessment, By Vehicle Type, 2021 & 2031F |
15.5 Global Tyres Market Opportunity Assessment, By End Use, 2021 & 2031F |
16 Global Tyres Market - Competitive Landscape |
16.1 Global Tyres Market Revenue Share, By Companies, 2024 |
16.2 Global Tyres Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |