Car tire market is anticipated to grow at a considerable CAGR of 2.2% during the forecast period. The growing focus on fuel economy, rising demand for convenience, and high maintenance or replacement costs of conventional tires are driving the growth of the car tires market. Another factor that is contributing to the growth of the industry is the adoption of cutting-edge manufacturing technology by OEMs to offer product differentiation through sustainability, durability, and affordability. The demand for retreaded tires is increasing at a significant rate. The retreading of tires helps reduce the operating cost significantly in the aftermarket as it prevents the complete replacement of tires and is, thereby, a cost-effective option.
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The global car tire market is segmented based on tire type, application, vehicle type, and end-user. Based on the tire type, the market is segmented into winter tires, summer tires, and others. Based on application, the market is segmented into on-the-road and off-the-road. Further, based on vehicle type, the market is sub-segmented into passenger cars and commercial vehicles. Based on end-user, the market is segmented into OEM and aftermarket. Among the end-user segment, the OEM sub-segment is expected to cater to a prominent market share over the forecast period.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Car Tire Market Report Segment
By Tire Type
- Winter Tires
- Summer Tires
- Others
By Application
- On-the-Road
- Off-the-Road
By Vehicle Type
- Passenger Cars
- Commercial Vehicles
By End-User
- OEM
- Aftermarket
Global Car Tire Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2023 and forecast to 2029.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global car tire market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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