Car Tire Market Growth Probability, Leading Vendors and Future Scenario By 2024-2031

The global car tire market is anticipated to grow at a considerable CAGR of 2.2% during the forecast period (2023-2029). Tire makers are turning to green energy in their production as companies are working to achieve carbon neutrality by 2050, with investments in the direction of zero-carbon technology, energy efficiency, and green energy. For instance, in February 2021, Michelin Group announced that it is working toward making its tires 100% sustainable by 2050. For this, Michelin partnered with various organizations like Axens, IFP Energies Nouvelles, Pyrowave, Carbios, Enviro, and BlackCycle.

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Most manufacturing companies are using automation to increase productivity and profitability due to rapid technological advancements. The automotive tire market is expected to witness growth as a result of technological advancements in the global car tire industry, such as the introduction of rimless tires, green tires, and the use of lightweight elastomers and metals such as alloys and carbon fiber or composites such as manganese bronze and nickel aluminum bronze to manufacture tires.

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  • Market Coverage
  • Market number available for – 2024-2031
  • Base year- 2024
  • Forecast period- 2024-2031
  • 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

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