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South Korea Tyre Market By Vehicle Type (Passenger Vehicles, Light Commercial Vehicles (LCV), Medium & Heavy Commercial Vehicles (M&HCV), Two-Wheelers, Off-the-Road (OTR)); By Tire Type (Radial, Bias); By Product Category (Summer Tyres, Winter Tyres, All-Season Tyres, EV-Specific / Low Rolling Resistance Tyres); By Demand Type (OEM, Replacement (Aftermarket)); By Rim Size (Up to 13″, 14″, 15″, 16″, 17″, 18″, 19″–20″, Above 20″); By Sales Channel (Dealer / Distributor, OEM Tie-ups, Online / Direct-to-Consumer); By Geography – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Name: South Korea Tyre Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2026-02-28
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: South Korea Tyre Market

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South Korea Tire Market Overview:

South Korea tyre market size was valued at USD 3,372.28 million in 2018, reached USD 4,605.64 million in 2024, and is anticipated to reach USD 6,877.92 million by 2032, at a CAGR of 4.79% during the forecast period.

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
South Korea Tire Market Size 2024	USD 4,605.64 Million
South Korea Tire Market, CAGR	4.79%
South Korea Tire Market Size 2032	USD 6,877.92 Million

The South Korea tyre market is led by Hankook Tire & Technology, Kumho Tire, and Nexen Tire, which collectively hold a dominant share due to strong domestic manufacturing, OEM partnerships, and export capabilities. Among global players, Michelin Korea and Bridgestone Korea maintain competitive positions, particularly in premium and performance segments. Hankook leads the market with its wide distribution, innovation in EV tyres, and strong brand reputation. The Seoul Capital Area emerges as the leading region, accounting for over 40% of the total market share in 2024, supported by high vehicle density, replacement demand, and concentration of premium vehicle users. This regional dominance aligns with the strong aftermarket presence and retail infrastructure established by major players.

South Korea Tyre Market Size

South Korea Tire Market Insights

The South Korea tyre market was valued at USD 4,605.64 million in 2024 and is projected to reach USD 6,877.92 million by 2032, growing at a CAGR of 4.79%.
Rising vehicle ownership, frequent tyre replacements, and EV tyre demand drive market expansion, especially in urban regions.
All-season tyres dominate the product category with nearly 60% share, while radial tyres lead in tyre type with over 70% market share.
Hankook Tire & Technology, Kumho Tire, and Nexen Tire hold strong positions, while Michelin Korea and Bridgestone Korea remain competitive in premium segments.
The Seoul Capital Area contributes more than 40% of total market share, followed by Gyeonggi and Incheon at nearly 20%, supported by high vehicle density, logistics activity, and OEM presence.

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Market Segmentation Analysis:

By Vehicle Type

Passenger vehicles dominate South Korea’s tyre market by vehicle type, accounting for over 55% of the total market in 2024. High car ownership rates, urban commuting, and consumer preference for mid-size and premium cars drive consistent tyre demand. Two-wheelers and LCVs contribute steadily, supported by e-commerce growth and last-mile delivery. Medium and heavy commercial vehicles (M&HCVs) gain traction from logistics and industrial movements. Off-the-road (OTR) tyres serve construction, mining, and agriculture, but represent a smaller share due to limited large-scale deployment.

For instance, Hankook Tire supplies original equipment tyres for Hyundai and Kia passenger vehicles produced in South Korea, delivering several million OE tyres annually from its Geumsan and Daejeon plants.

By Tire Type

Radial tyres lead the tyre type segment with more than 70% share in 2024, driven by superior fuel efficiency, enhanced traction, and longer life. Widespread adoption in passenger cars and commercial fleets underpins growth. Regulatory support for vehicle safety and road performance standards reinforces radial tyre penetration. Bias tyres continue to serve niche roles in agricultural and OTR applications due to their strength and cost-effectiveness, but their market share continues to decline year-over-year in favor of radial alternatives.

For instance, Kumho Tire manufactures high-performance radial tyres using steel-belted constructions tested for speeds above 300 kilometers per hour at its Gwangju R&D center.

By Product Category

All-season tyres dominate the product category, holding nearly 60% share in 2024. Consumers prefer them due to year-round usability, lower replacement frequency, and balanced performance across climates. Winter tyres gain seasonal traction in northern regions, supported by safety norms and snowfall-related regulations. Summer tyres are popular in performance segments but remain limited in scope. EV-specific and low rolling resistance tyres see rising adoption as the country’s electric vehicle fleet expands, with OEMs focusing on energy-efficient, lightweight tyre solutions tailored for EV drivetrains.

South Korea Tire Market Key Growth Drivers

Strong Replacement Demand Driven by Vehicle Ownership

South Korea’s high vehicle ownership rate, especially in urban centers like Seoul and Busan, drives significant replacement tyre demand. Ageing vehicle fleets and regulatory inspections mandate regular tyre checks and replacements, sustaining aftermarket consumption. Consumers prioritize safety and performance, prompting more frequent tyre replacements compared to global averages. With around 60–65% of the tyre market revenue stemming from replacement demand, this segment remains a consistent growth anchor. Expanding e-commerce and direct-to-consumer platforms further simplify access, encouraging timely replacements and fostering brand-switching behavior among consumers.

For instance, Hankook Tire operates over 500 branded T’Station retail outlets across South Korea, supplying replacement tyres for passenger vehicles with premium touring models designed for an average tread life of approximately 80,000 kilometers.

Expansion of Electric Vehicle (EV) Adoption

Rapid EV adoption in South Korea is creating new demand for specialized low rolling resistance and EV-specific tyres. Government incentives and automaker investments boost EV sales, particularly among domestic brands like Hyundai and Kia. EVs require tyres with better load distribution, noise reduction, and improved durability factors prompting innovation among tyre manufacturers. Major players focus on designing tyres optimized for battery range and performance. This trend creates a new premium sub-segment within the broader market, with EV tyre demand forecast to outpace other categories in annual growth over the next decade.

For instance, Kumho Tire developed EV-specific tyres tested for noise levels below 70 decibels and load capacities exceeding 800 kilograms per tyre to support electric sedans and SUVs.

Growth in Logistics and E-Commerce Delivery Fleets

The rise in e-commerce has directly fueled the expansion of commercial delivery fleets, especially light commercial vehicles (LCVs) and two-wheelers. These fleets require frequent tyre replacements due to high daily usage, variable road conditions, and time-sensitive delivery schedules. Companies operating large fleets prefer durable, high-performance tyres to reduce downtime and improve fuel efficiency. Demand for LCV tyres has grown rapidly post-2020, as last-mile delivery services proliferate in urban and suburban regions. This structural growth in logistics strengthens demand across both OEM and aftermarket segments for commercial vehicle tyres.

South Korea Tire Market Key Trends & Opportunities

Rise in Digital and Direct-to-Consumer Sales Channels

Digital transformation in tyre retail is reshaping how consumers purchase replacement tyres. Online platforms, mobile apps, and direct-to-consumer websites offer competitive pricing, transparent product comparisons, and convenient booking for installations. South Korean consumers, especially in urban areas, are increasingly comfortable buying tyres online, bypassing traditional dealers. This shift opens up new branding and upselling opportunities for manufacturers. Subscription models and tyre-as-a-service offerings are also emerging, targeting fleet operators with predictable maintenance needs. This trend enhances aftermarket accessibility and drives innovation in customer engagement strategies.

For instance, Hankook Tire operates its official online platform, T-Station.com, in South Korea, integrating product selection with offline fitting across a network of more than 460 retail locations nationwide.

Focus on Sustainable and Smart Tyre Solutions

Sustainability and smart mobility trends are influencing tyre product development. Manufacturers invest in recyclable materials, fuel-efficient compounds, and low-emission production techniques. Smart tyres embedded with sensors to monitor pressure, wear, and temperature are gaining interest from fleet operators and tech-integrated car models. South Korea’s push toward carbon neutrality and smart city infrastructure supports adoption of these solutions. Government partnerships and R&D grants encourage domestic players to develop eco-friendly and connected tyre technologies, offering long-term growth potential and competitive differentiation.

South Korea Tyre Market Trends

South Korea Tire Market Key Challenges

Pricing Pressure from Imported and Budget Brands

The domestic tyre industry faces stiff competition from low-cost imports, particularly from China and Southeast Asia. These brands often offer competitive performance at significantly lower prices, appealing to budget-conscious consumers and small fleet operators. This trend puts downward pressure on margins for local and global premium players operating in South Korea. Even with strong brand loyalty, the value-for-money segment is expanding, forcing incumbents to either lower prices or introduce mid-tier product lines, potentially diluting brand positioning and profitability in the long term.

Sluggish OEM Tyre Demand Due to Limited Auto Production Growth

South Korea’s automotive production has shown slower growth in recent years due to global chip shortages, export uncertainties, and evolving demand patterns. OEM tyre demand directly depends on new vehicle manufacturing and sales, which have not kept pace with replacement segment growth. While electric vehicle production is increasing, it is not yet large enough to fully offset the stagnation in conventional car output. This limits growth opportunities for tyre suppliers heavily reliant on OEM tie-ups, requiring strategic diversification into aftermarket channels or international markets.

South Korea Tire Market Regional Analysis

Seoul Capital Area

The Seoul Capital Area dominates the South Korea tyre market, accounting for over 40% of total market share in 2024. High vehicle density, extensive urban road networks, and strong demand for premium and replacement tyres drive market concentration. The region benefits from a well-developed distribution system and strong OEM presence. Consumers in Seoul prefer all-season and EV-specific tyres due to high awareness and adoption of electric vehicles. Frequent vehicle use and regulatory inspections contribute to short tyre replacement cycles, maintaining consistent aftermarket growth.

Gyeonggi and Incheon

Gyeonggi Province, combined with Incheon, captures nearly 20% of the tyre market share. As a suburban and industrial belt surrounding Seoul, this region supports growing demand for light commercial vehicle (LCV) and industrial tyres. Rising population, delivery fleets, and logistics parks contribute to high tyre turnover. OEM tie-ups and service centers in Incheon’s port area enhance accessibility. This region also shows higher demand for radial and high-durability tyres, especially for commercial and intercity use. Steady infrastructure development supports growth in off-the-road (OTR) tyre applications.

Gyeongsang Region (Busan, Daegu, Ulsan)

The Gyeongsang region, led by industrial hubs such as Busan and Ulsan, holds about 15% market share. Strong automotive manufacturing activity and busy port logistics contribute to robust OEM and replacement tyre demand. Busan’s port facilitates tyre imports and exports, aiding distribution. Ulsan, a key base for Hyundai and other automakers, supports OEM demand for passenger and commercial vehicles. Consumers here demand both summer and all-season tyres, with a preference for high-performance options. Industrial applications drive growth in bias tyres and specialty categories.

Jeolla and Chungcheong Regions

Jeolla and Chungcheong collectively account for nearly 15% of the tyre market, supported by agricultural, mining, and industrial operations. These regions show rising demand for off-the-road (OTR) tyres used in tractors, construction vehicles, and mining equipment. Bias tyres remain more prominent in rural areas, but radial adoption is growing due to government-led safety initiatives. Chungcheong also benefits from national expressway networks that require frequent tyre maintenance in commercial fleets. Aftermarket growth is supported by expanding dealer networks and mobile tyre services across smaller cities.

Gangwon and Jeju Regions

Gangwon and Jeju Island represent a smaller but strategic portion of the tyre market, accounting for around 8–10% of total share. Gangwon’s mountainous terrain and snowfall drive demand for winter tyres and durable treads. Tourism and seasonal vehicle rentals also fuel short-term tyre demand. Jeju, with its electric vehicle–friendly policies and green transportation goals, sees rising demand for EV-specific and low rolling resistance tyres. Although these regions are less industrial, targeted subsidies and infrastructure development sustain modest but steady growth in the tyre market.

South Korea Tire Market Segmentations:

By Vehicle Type

Passenger Vehicles
Light Commercial Vehicles (LCV)
Medium & Heavy Commercial Vehicles (M&HCV)
Two-Wheelers
Off-the-Road (OTR)

By Tire Type

Radial
Bias

By Product Category

Summer Tyres
Winter Tyres
All-Season Tyres
EV-Specific / Low Rolling Resistance Tyres

By Demand Type

OEM
Replacement (Aftermarket)

By Rim Size

Up to 13″
14″
15″
16″
17″
18″
19″–20″
Above 20″

By Sales Channel

Dealer / Distributor
OEM Tie-ups
Online / Direct-to-Consumer

By Geography

Seoul Capital Area
Gyeonggi and Incheon
Gyeongsang Region (Busan, Daegu, Ulsan)
Jeolla and Chungcheong Regions
Gangwon and Jeju Regions

Competitive Landscape

The South Korea tyre market is highly competitive, with strong presence from both domestic and international players. Leading local manufacturers Hankook Tire & Technology, Kumho Tire, and Nexen Tire together command a major share of the market, leveraging advanced R&D, brand equity, and OEM partnerships. Hankook maintains a leadership position through its premium offerings and global export strength. Foreign subsidiaries like Michelin Korea and Bridgestone Korea contribute significantly in the replacement and performance tyre segments. The competition intensifies in the mid-tier and budget segments, where imported tyres from China and Southeast Asia gain ground. Companies invest in EV-optimized tyres, smart manufacturing, and digital retail to stay ahead. Product innovation, sustainability initiatives, and distribution expansion remain core strategies among key players. Mergers, OE tie-ups, and expansion into smart tyres and eco-friendly materials define the evolving market dynamics. The landscape favors firms with robust local networks and adaptive product portfolios aligned with mobility trends.

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Key Player Analysis

Hankook Tire & Technology
Kumho Tire
Nexen Tire
Michelin Korea
Bridgestone Korea

Recent Developments

In March 2025, Michelin was named one of the world’s 100 most innovative companies by Clarivate, recognizing its strong R&D capabilities. The company also launched the MICHELIN City Touring tire for bicycles, emphasizing safety and sustainability.
In March 2025, Bridgestone announced its 2025 motorsports plan, continuing support for professional and grassroots motorsports globally. The company is emphasizing sustainable motorsport as a “mobile laboratory” to refine technologies for commercial tire development. Bridgestone remains the exclusive tire supplier for major race series, including Japan’s SUPER GT and North America’s NTT INDYCAR® SERIES.
In February 2025, Goodyear announced a capacity expansion at its Lawton, Oklahoma facility, targeting production of 10 million additional premium tires annually, especially larger rim sizes and higher-margin segments.

Report Coverage

The research report offers an in-depth analysis based on Vehicle Type, Tire Type, Product, Demand Type, Rim Size, Sales Channel and Geography and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The market will benefit from steady growth in vehicle ownership across urban regions.
Replacement tyres will remain the primary revenue source due to regular inspection cycles.
Electric vehicle adoption will accelerate demand for EV-specific and low rolling resistance tyres.
Radial tyres will continue to dominate due to performance and fuel efficiency advantages.
All-season tyres will gain wider acceptance for year-round usability.
Digital tyre sales and online booking platforms will expand customer reach.
Fleet demand from logistics and delivery services will support commercial tyre sales.
Sustainability will shape product design through recyclable materials and low-emission processes.
Competition will intensify as imported mid-range brands expand presence.
Innovation and strong distribution networks will define long-term competitive success.

Table of Content

Chapter No. 1 :….. Introduction.. 21

1.1. Report Description. 21

Purpose of the Report 21

USP & Key Offerings 21

1.2. Key Benefits for Stakeholders 22

1.3. Target Audience. 22

Chapter No. 2 :….. Executive Summary.. 23

Chapter No. 3 :….. TYRE MARKET FORCES & INDUSTRY PULSE.. 25

3.1. Foundations of Change – Market Overview.. 25

3.2. Catalysts of Expansion – Key Market Drivers 27

3.2.1. Momentum Boosters – Growth Triggers 28

3.2.2. Innovation Fuel – Disruptive Technologies 28

3.3. Headwinds & Crosswinds – Market Restraints 29

3.3.1. Regulatory Tides – Compliance Challenges 30

3.3.2. Economic Frictions – Inflationary Pressures 30

3.4. Untapped Horizons – Growth Potential & Opportunities and Strategic Navigation – Industry Frameworks 31

3.5. Market Equilibrium – Porter’s Five Forces 32

3.6. Ecosystem Dynamics – Value Chain Analysis 34

3.7. Macro Forces – PESTEL Breakdown. 36

3.8. Price Trend Analysis 38

3.8.1. Regional Price Trend. 39

3.8.2. Price Trend by Type. 39

3.9. Buying Criteria. 40

3.10. Import Analysis 41

3.10.1. South Korea Tyre Market Import Volume (Units), By Region, 2018 – 2024. 41

3.11. Export Analysis 42

3.11.1. South Korea Tyre Market Export Volume (Units), By Region, 2018 – 2024. 42

3.12. Production Analysis 43

3.12.1. South Korea Tyre Market Production, 2018 – 2024. 43

3.13. Demand Analysis 44

3.13.1. South Korea Tyre Market Demand Volume, 2018 – 2024. 44

3.14. Supply Analysis by South Korea. 45

3.14.1. South Korea Tyre Market Supply Volume, 2018 – 2024. 45

Chapter No. 4 :….. COMPETITION ANALYSIS. 46

4.1. Company Market Share Analysis 46

4.1.1. South Korea Tyre Market Company Volume Market Share. 46

4.1.2. South Korea Tyre Market Company Revenue Market Share. 48

4.2. Strategic Developments 50

4.2.1. Acquisitions & Mergers 50

4.2.2. New Vehicle Type Launch. 51

4.2.3. Agreements & Collaborations 52

4.3. Competitive Dashboard. 53

4.4. Company Assessment Metrics, 2024. 54

Chapter No. 5 :….. South Korea Market Analysis, Insights & Forecast, by Vehicle Type.. 55

Chapter No. 6 :….. South Korea Market Analysis, Insights & Forecast, by Tyre Type.. 60

Chapter No. 7 :….. South Korea Market Analysis, Insights & Forecast, by Demand Type.. 65

Chapter No. 8 :….. South Korea Market Analysis, Insights & Forecast, by Rim Size.. 70

Chapter No. 9 :….. South Korea Market Analysis, Insights & Forecast, by Product Category.. 75

Chapter No. 10 :… South Korea Market Analysis, Insights & Forecast, by Sales Channel.. 80

Chapter No. 11 :… Company Profile.. 85

11.1. Hankook Tire & Technology. 85

11.2. Kumho Tire 88

11.3. Nexen Tire 88

11.4. Michelin Korea. 88

11.5. Bridgestone Korea. 88

11.6. Company 6 88

11.7. Company 7 88

11.8. Company 8 88

11.9. Company 9 88

11.10. Company 10 88

List of Figures

FIG NO. 1……… Tyre Market Revenue Share, By Vehicle Type, 2024 & 2032. 55

FIG NO. 2……… Market Attractiveness Analysis, By Vehicle Type. 56

FIG NO. 3……… Incremental Revenue Growth Opportunity by Vehicle Type, 2024 – 2032. 57

FIG NO. 4……… Tyre Market Revenue Share, By Tyre Type, 2024 & 2032. 60

FIG NO. 5……… Market Attractiveness Analysis, Tyre Type. 61

FIG NO. 6……… Incremental Revenue Growth Opportunity by Tyre Type, 2024 – 2032. 62

FIG NO. 7……… Tyre Market Revenue Share, By Demand Type, 2024 & 2032. 65

FIG NO. 8……… Market Attractiveness Analysis, By Demand Type. 66

FIG NO. 9……… Incremental Revenue Growth Opportunity by Demand Type, 2024 – 2032. 67

FIG NO. 10……. Tyre Market Revenue Share, By Rim Size, 2024 & 2032. 70

FIG NO. 11……. Market Attractiveness Analysis, By Rim Size. 71

FIG NO. 12……. Incremental Revenue Growth Opportunity by Rim Size, 2024 – 2032. 72

FIG NO. 13……. Tyre Market Revenue Share, By Product Category, 2024 & 2032. 75

FIG NO. 14……. Market Attractiveness Analysis, By Product Category. 76

FIG NO. 15……. Incremental Revenue Growth Opportunity by Product Category, 2024 – 2032. 77

FIG NO. 16……. Tyre Market Revenue Share, By Sales Channel, 2024 & 2032. 80

FIG NO. 17……. Market Attractiveness Analysis, By Sales Channel 81

FIG NO. 18……. Incremental Revenue Growth Opportunity by Sales Channel, 2024 – 2032. 82

List of Tables

TABLE NO. 1. :. South Korea Tyre Market Import Volume (Units), By Region, 2018 – 2024. 41

TABLE NO. 2. :. South Korea Tyre Market Export Volume (Units), By Region, 2018 – 2024. 42

TABLE NO. 3. :. South Korea Tyre Market Revenue, By Vehicle Type, 2018 – 2024 (USD Million). 58

TABLE NO. 4. :. South Korea Tyre Market Revenue, By Vehicle Type, 2025 – 2032 (USD Million). 58

TABLE NO. 5. :. South Korea Tyre Market Revenue, By Vehicle Type, 2018 – 2024 (Units). 59

TABLE NO. 6. :. South Korea Tyre Market Revenue, By Vehicle Type, 2025 – 2032 (Units). 59

TABLE NO. 7. :. South Korea Tyre Market Revenue, By Tyre Type, 2018 – 2024 (USD Million). 63

TABLE NO. 8. :. South Korea Tyre Market Revenue, By Tyre Type, 2025 – 2032 (USD Million). 63

TABLE NO. 9. :. South Korea Tyre Market Revenue, By Tyre Type, 2018 – 2024 (Units). 64

TABLE NO. 10. :……….. South Korea Tyre Market Revenue, By Tyre Type, 2025 – 2032 (Units). 64

TABLE NO. 11. :…….. South Korea Tyre Market Revenue, By Demand Type, 2018 – 2024 (USD Million). 68

TABLE NO. 12. :…….. South Korea Tyre Market Revenue, By Demand Type, 2025 – 2032 (USD Million). 68

TABLE NO. 13. :…… South Korea Tyre Market Revenue, By Demand Type, 2018 – 2024 (Units). 69

TABLE NO. 14. :…… South Korea Tyre Market Revenue, By Demand Type, 2025 – 2032 (Units). 69

TABLE NO. 15. :… South Korea Tyre Market Revenue, By Rim Size, 2018 – 2024 (USD Million). 73

TABLE NO. 16. :… South Korea Tyre Market Revenue, By Rim Size, 2025 – 2032 (USD Million). 73

TABLE NO. 17. :…………. South Korea Tyre Market Revenue, By Rim Size, 2018 – 2024 (Units). 74

TABLE NO. 18. :…………. South Korea Tyre Market Revenue, By Rim Size, 2025 – 2032 (Units). 74

TABLE NO. 19. :… South Korea Tyre Market Revenue, By Product Category, 2018 – 2024 (USD Million). 78

TABLE NO. 20. :… South Korea Tyre Market Revenue, By Product Category, 2025 – 2032 (USD Million). 78

TABLE NO. 21. :. South Korea Tyre Market Revenue, By Product Category, 2018 – 2024 (Units). 79

TABLE NO. 22. :. South Korea Tyre Market Revenue, By Product Category, 2025 – 2032 (Units). 79

TABLE NO. 23. :……. South Korea Tyre Market Revenue, By Sales Channel , 2018 – 2024 (USD Million). 83

TABLE NO. 24. :… South Korea Tyre Market Revenue, By Rim Size, 2025 – 2032 (USD Million). 83

TABLE NO. 25. :….. South Korea Tyre Market Revenue, By Sales Channel , 2018 – 2024 (Units). 84

TABLE NO. 26. :…………. South Korea Tyre Market Revenue, By Rim Size, 2025 – 2032 (Units). 84

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Frequently Asked Questions:

What is the current market size for the South Korea Tyre market, and what is its projected size in 2032?

The market was valued at USD 4,605.64 million in 2024 and is projected to reach USD 6,877.92 million by 2032.

At what Compound Annual Growth Rate is the South Korea Tyre market projected to grow between 2024 and 2032?

The market is expected to grow at a CAGR of 4.79% during the forecast period.

Which South Korea Tyre market segment held the largest share in 2024?

Passenger vehicles held the largest share, accounting for over 55% of total demand.

What are the primary factors fueling the growth of the South Korea Tyre market?

Key factors include strong replacement demand, rising EV adoption, and growth in logistics fleets.

Who are the leading companies in the South Korea Tyre market?

Leading players include Hankook Tire & Technology, Kumho Tire, Nexen Tire, Michelin Korea, and Bridgestone Korea.

Which region commanded the largest share of the South Korea Tyre market in 2024?

The Seoul Capital Area led the market with over 40% share, driven by high vehicle density and replacement demand.

About Author

Ganesh Chandwade

Senior Industry Consultant

Ganesh is a senior industry consultant specializing in heavy industries and advanced materials.

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