Automotive Tires Market By Tire Type (Fuel Efficient, High Performance, All-terrain/Off-road, Run-flat and Trailer), By Tire Size (12-14”, 15-17”, 18-22: Above 22”), By Design (Bias & Radial Ply Tires), By Tire Assembly, By Aspect Ratio, By Season (All-season Tires, Winter & Summer Tires), By Sales Channel, By Vehicle Class – Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Consistent Automotive Industry Worldwide to Ensure Robust Demand for Automotive Tires

The overall automotive tires market worldwide is set to exhibit steady growth rate throughout the forecast period from 2018 to 2026, starting from US$ 155.29 Bn in the year 2017. Tires are among the most important components of automotive vehicles, making it one of the most crucial aspects of the overall automobile components industry. The automotive tires market is highly driven by the consistent rise in production as well as sales of automotive vehicles worldwide. In 2017, the overall automotive production stood at 97.30 Mn exhibiting 2.36% growth over the year 2016. Another important factor supporting the market growth is significant share of aftermarket sales. Growing adoption of high performance tires for superior driving experience is one of the most important factors supporting aftermarket sales channel. Factors such as rising population, discretionary income of the people and wide range of automotive vehicles in the market is expected to ensure continued growth in the automotive industry. Thus, the demand for automotive tires is expected to remain strong throughout the forecast period.

Market Synopsis

Automotive Tires Market

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Passenger Cars to Remain the Largest Vehicle Class Segment

Passenger cars segment led the overall automotive tires market worldwide in 2017, accounting for nearly 45% value share. According to the International Organization of Motor Vehicle Manufacturers (OICA), global passenger cars production stood at 73.45 Mn contributing to more than 70% of the overall automotive production (excluding two wheelers). Growing sales of luxury and semi-luxury cars on the account of continually growing purchasing power of the people, passenger cars production is expected to remain strong throughout the forecast period. Thus, the segment would continue dominating the market in the following years. Commercial vehicles segment is expected to register promising growth in the market during the forecast period.

Automotive Tires Market

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Huge Automotive Manufacturing Industry to Ensure Dominant Position for Asia Pacific throughout the Forecast Period

Asia Pacific leads the global automotive tires market with more than 45% of the total market value. The regional market is primarily backed by China, contributing to nearly 30% of the total automotive vehicles (passenger cars and commercial vehicles) production worldwide. Other prominent markets for automotive tires in Asia Pacific include Japan, South Korea and India. According to the India Brand Equity Foundation (IBEF), the overall domestic automobiles sales in India registered a CAGR of 7.0% through the period 2013 to 2018. Considering the promising pace of Indian automotive industry, Asia Pacific is expected to demonstrate the highest growth rate during the forecast period. Europe is the second largest automotive tires market, closely followed by North America.

Automotive Tires Market

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Emphasis on Advanced Tire Technology for Fuel Efficiency and Safety to Ensure a Competitive Market

The overall automotive tires market is consolidated in nature with top four tire manufacturers accounting for over 50% of the total market value. Companies such as Michelin Group, Bridgestone Corporation, Goodyear Tire & Rubber Company and Continental AG are the major players dominating the market. Other prominent players operating in the market include Sumitomo Rubber Industries, Ltd., Pirelli & C. S.p.A., Cooper Tire & Rubber Company and Yokohama Rubber Company. The market comprises large number of regional players offering significant competition to these major tire manufacturers.

Due to large number of players operating in the market, tire companies face immense price pressure and constant risk of bigger discounts demanded from large corporate customers. Majority of the companies emphasize on producing technologically advanced tires promising enhanced safety in order to sustain the competition. This is majorly followed by strong persuading campaigns to boost the adoption of latest tire technology. For instance, in September 2017, Continental AG launched two new tire technologies called ContiSense and ContiAdapt that enable continuous tire monitoring and performance adaptation based on road/weather conditions.

The report covers company profiles of the major companies operating in the market including Bridgestone Corporation, Michelin Group, Continental AG, Goodyear Tire & Rubber Company, Qingdao Sentury Tire Co., Ltd., Sumitomo Rubber Industries, Ltd., Pirelli & C. S.p.A., Cooper Tire & Rubber Company, Yokohama Rubber Company, Hankook Tire Group, Hangzhou Zhongce Rubber Co., Ltd., China National Tire & Rubber Co., Ltd., Toyo Tire & Rubber Company, Apollo Tyres Ltd., CEAT Ltd., MRF Ltd., JK Tyre & Industries Ltd. and others.

Automotive Tires Market

Historical & Forecast Period

This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The automotive tires market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global automotive tires market based on tire type, tire size, design, tire assembly, aspect ratio, season, sales channel, vehicle class and geography. Key segments covered in the report are as follows:

Research Period  2016-2026
Base Year 2017
Forecast Period  2018-2026
Historical Year  2016
Unit  USD Million

 Tire Type Segment (2016–2026; US$ Bn)
 • Fuel Efficient Tires
 • High Performance Tires
 • All-terrain/Off-road Tires
 • Run-flat Tires
 • Trailer Tires

 Tire Size Segment (2016–2026; US$ Bn)
 • 12-14 inches
 • 15-17 inches
 • 18-22 inches
 • Above 22 inches

 Design Segment (2016–2026; US$ Bn)
 • Bias Ply Tires
 • Radial Ply Tires

 Tire Assembly Segment (2016–2026; US$ Bn)
 • Tubeless Tires
 • Tubed Tires

 Aspect Ratio Segment (2016–2026; US$ Bn)
 • 30-45
 • 50-70
 • 75-85

 Season Segment (2016–2026; US$ Bn)
 • All-season Tires
 • Winter Tires
 • Summer Tires

 Sales Channel Segment (2016–2026; US$ Bn)
 • Original Equipment Manufacturers (OEMs)
 • Aftermarket

 Vehicle Class Segment (2016–2026; US$ Bn)
 • Passenger Cars
 • Light Commercial Vehicles (LCVs)
 • Heavy Commercial Vehicles (HCVs)
 • Off-road Vehicles

 Geography Segment (2016–2026; US$ Mn)
 • North America (U.S. and Rest of North America)
 • Europe (U.K., Germany, France, Russia, and Rest of Europe)
 • Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
 • Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

  • What was the market size of automotive tires in 2017 and forecast up to 2026?
  • Which is the largest regional market for automotive tires?
  • What are the key market trends observed in the automotive tires market?
  • What is the aftermarket scenario for automotive tires?
  • Which are the major players operating in the market?
  • What are the key strategies adopted by the leading players in market?

Unique data points of this report

  • Statistics on automotive production and sales across different geographic regions/countries
  • Statistics on sales of luxury and semi-luxury cars worldwide
  • Key trends on use of bias ply and radial ply tires
  • Attractive investment proposition for tire type segment as well as geography
  • Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)
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Published Date:  Sep 2018
Category:  Automotive & Transportation
Report ID:   59338
Report Format:   PDF
Pages:   120
Rating:    4.1 (69)
Delivery Time: 24 Hours to 48 Hours   
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