Automotive Tire Market is predicted to reach USD 334.1 Billion at a CAGR of 10.42% during the forecast period

Market Research Future (MRFR) has published a cooked research report on the “Automotive Tire Market” that contains information from 2018 to 2032. The Automotive Tire Market is estimated to register a CAGR of 10.42% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global Automotive Tire Market — Michelin (France), Bridgestone (Japan), Continental AG (Germany), Hankook Tire (South Korea) , Pirelli & C S.p.A. (Italy), Toyo Tire Corporation (Japan), Kurho Tire (South Korea) , Giti Tire (Singapore), Maxxis International (Taiwan), and Nexen Tire Corporation (South Korea).

Automotive Tire Highlights

The global Automotive Tire Market is accounted to register a CAGR of 10.42% during the forecast period and is estimated to reach USD 334.1 Billion by 2032.

The automotive tire market refers to the industry that produces and sells tires for various types of vehicles, including cars, trucks, motorcycles, buses, and more. Tires are a critical component of any vehicle, as they directly impact its performance, safety, and fuel efficiency.

Segment Analysis

The global Automotive Tire Market has been segmented based on Type, Season, and Propulsion Type.

The Automotive Tire Market segmentation, based on vehicle type includes 13" to 15", 16" to 18", 19" to 21", >21". The 16" to 18" segment contributed the largest amount to the market and is expected to increase at a CAGR of 4.1% during the forecast period. The rim sizes on most passenger and commercial vehicles range from 16 to 18 inches. Because there is more rubber on the road, these tires have better traction, especially for vehicles carrying more than average weight.

The Automotive Tire Market segmentation, based on season, includes store winter, summer, all-season. The all-season segment was the largest contributor to the market and is expected to grow at a CAGR of 4.2% over the projected period. These tires are designed to withstand every weather condition, whether summer or winter. They are carefully developed with a unique and robust tread that lasts longer and can run on any terrain. All-season radials, like winter tires, provide excellent traction on wet surfaces.

The Automotive Tire Market segmentation, based on propulsion type, includes store ICE, EV. EV category had a significant market share. Electric vehicles have minimal operating expenses because they have fewer moving parts to maintain, and they are also very environmentally friendly because they consume little or no fossil fuels (petrol or diesel). While some EVs used lead acid or nickel metal hydride batteries, lithium ion batteries are now considered the standard for modern battery electric vehicles because they have a longer lifespan and are excellent at retaining energy, with a self discharge rate of only 5% per month.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Automotive Tire market Research Report

Regional Analysis

The global Automotive Tire Market, based on region, has been divided into North America, Europe, Asia-Pacific and the Rest of the World. In 2022, the North American automotive tire industry dominated the market, accounting for more than 40% of total sales. Because of the quantity of tire manufacturers cooperating with SUV and passenger car makers in the region. Furthermore, rising demand for off-roading tires among sports enthusiasts is propelling regional market growth. Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Europe’s automotive tire market accounts for the second-largest market share due to the presence of several vehicle OEMs, since many of the world's largest automakers have manufacturing units in Europe. Further, the German automotive tire market held the largest market share, and the UK automotive tire market was the fastest growing market in the European region

The Asia-Pacific Automotive Tire Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of rising domestic consumption and shifting norms, and cheap labour. Moreover, China’s automotive tire market held the largest market share, and the Indian automotive tire market was the fastest-growing market in the Asia-Pacific region.

Key Findings of the Study

• The global Automotive Tire Market is expected to reach USD 334.1 Billion by 2032, at a CAGR of 10.42% during the forecast period.


• The Asia-Pacific Automotive Tire Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of rising domestic consumption and shifting norms, and cheap labour. Moreover, China’s automotive tire market held the largest market share, and the Indian automotive tire market was the fastest-growing market in the Asia-Pacific region.


• The Automotive Tire Market segmentation, based on season, includes store winter, summer, all-season. The all-season segment was the largest contributor to the market and is expected to grow at a CAGR of 4.2% over the projected period.  


• Michelin (France), Bridgestone (Japan), Continental AG (Germany), Hankook Tire (South Korea) , Pirelli & C S.p.A. (Italy), Toyo Tire Corporation (Japan), Kurho Tire (South Korea) , Giti Tire (Singapore), Maxxis International (Taiwan), and Nexen Tire Corporation (South Korea).