Rubber Tire Market size was valued at USD 149.41 Bn. in 2022 and the total Rubber Tire revenue is expected to grow by 3.8 % from 2023 to 2029, reaching nearly USD 193.98 Bn.
Rubber Tire Market Overview
A market study on Rubber Tire Market filters was released by MMR. The research combines primary and secondary data, and subject matter experts have examined it from both a local and global standpoint. An important tool for investors, the study offers a thorough analysis of the market’s size and share in every area and category.
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Rubber Tire Market Dynamics:
Rising Concentrate on performance and consumer needs.
Tyre pressure monitoring systems, designed by manufacturers, connect a tyre to its vehicle, advising drivers of routine maintenance needs. Rubber tyre manufacturers are taking this a step further, expanding the technology beyond the tyre and even the car. being the automobile industry moves towards an autonomous future, tyres, being the vehicle’s only connection to the road, must do more, especially if there is no driver to monitor the tyre or the risks on the road.
Rubber Tire Market Report Scope and Research Methodology
At the national, regional, and international levels, the research offers a thorough examination of the Rubber Tire market. It offers a thorough examination of the competitive environment in the Rubber Tire market, taking into account the main players’ business plans. A list of the major rivals of Rubber Tire is provided in the study, together with details on their earnings, volume of production, worldwide reach, and sales. The SWOT analysis was employed to ascertain the advantages and disadvantages of the principal participants in the Rubber Tire sector. The study also includes detailed information on the potential, challenges, drivers, and restraints of the Rubber Tire market.
The size of the worldwide and regional Rubber Tire markets was calculated using the bottom-up method. Data on market size, market share, geographical insights, market dynamics, the performance of major players, and industry historical data were gathered using both primary and secondary research methodologies. The research also contains a thorough value chain analysis with data on distributors, customers, and raw materials that aids in understanding the Rubber Tire production process. In order to comprehend the Rubber Tire market at both the macro and micro levels, it also contains Porter’s and PESTLE analysis in addition to market attractiveness.
Rubber Tire Market Regional Insights
Geographically, the report is segmented into several key countries, with market size, growth rate, import and export of Rubber Tire market in these countries, which covering North America – U.S., Canada, Mexico, Europe – UK, Germany, France, Spain, Italy, Rest of Europe, Asia Pacific – China, India, Japan, Australia, South Korea, ASEAN Countries, Rest of APAC, South America – Brazil, and Middle East and Africa.
Rubber Tire Market Segmentation:
by Tire Type
Bias tire
Radial tire
Depending on the type of tyre
Bias tyres dominated the market in 2022 and is likely to maintain its dominance during the forecast period. Because of the increased traction, the tread of Bias tyres wears down faster. It has a high rolling resistance, which might have an impact on fuel economy. A rollover effect also causes traction loss while cornering.
Furthermore, during the projection period, the Radial tyres category is expected to rise rapidly. They are thought to be superior for high-speed driving, as well as being more fuel-efficient and durable than Bias tyres. They also provide a smoother, more pleasant ride and a better grip on the road, resulting in superior handling and stability.
by Vehicle Type
Commercial Vehicle
Industrial Vehicle
Passenger Vehicle
Agricultural Vehicle
Electrical Vehicle
Commercial vehicles, passenger cars, agricultural vehicles, industrial vehicles, construction and mining vehicles, motorcycles, buses, scooters, lorries and bicycles are all part of the rubber tyre market. Passenger and commercial cars are expected to play significant roles due to increased purchasing power in society, which raises the high demand for automobiles.
Urbanisation and industrialization have considerably increased the productivity of modern agricultural vehicles, and continuous advancements have fueled the sector expansion of the rubber tyre market. Commercial vehicles, motorcycles and buses are also important drivers of the rubber tyre market. Furthermore, electric vehicles, together with advanced and integrated technologies, such as passenger vehicles, particularly premium and semi-luxury vehicles, are likely to drive demand for rubber tyres in the coming years.
by Rim Type
Less than 15 inches
15 to 20 inches
More than 20 inches
by Season type
All Season Tire
Winter Tire
Summer Tire
There are three types of rubber tyres. All-season tyres, winter tyres, and summer tyres are all available. This classification is based on characteristics like as grip, durability, rolling noise, temperature, weather conditions, braking performance, cost, and so on.
The All Seasons tyres segment dominated the market in 2022 and is likely to maintain its dominance throughout the forecast period. During the projected period, the all-season segment is expected to develop at a CAGR of 4.5%. All-season rubber tyres provide average grip in a wide range of situations and a tread compound that stiffens when temperatures decrease yet can endure heat. It is designed for both dry and wet weather. Winter tyres contain deeper grooves that optimise grip and are sharp with uneven edges.
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Rubber Tire Market Key Players:
1. Apollo Tyres Ltd
2. Bridgestone Corporation
3. CEAT Limited
4. Continental AG
5. Hankook & Company Co., Ltd.
6. JK Tyre & INDUSTRIES LTD.
7. Michelin
8. MRF Limited
9. Nokian Tyres PLC
10. Pirelli & C. S.p.A
11. Sailun Group Co., Ltd.
12. Salsons Impex Pvt. Ltd
13. Shandong Linglong Group Co. Ltd.
14. Sumitomo Rubber Industries, Ltd.
15. The Goodyear Tire & Rubber Company
16. The Yokohama Rubber Co., Ltd.
17. Triangle Tire Co., Ltd.,
18. Toyo Tire Corporation
19. Wanli Tire Co., Ltd.
20. Zhongce Rubber Group Co., Ltd.
21. Others
Key Questions answered in the Rubber Tire Market Report are:
- What is the expected Rubber Tire market size by 2030?
- What will be the CAGR of the Rubber Tire market during the forecast period?
- Which segment held the largest share in the Rubber Tire market?
- How is the competitive scenario of the Rubber Tire market?
- Which are the key factors driving the Rubber Tire market growth?
- What are the factors restraining the Rubber Tire market growth?
- Which region holds the maximum share in the Rubber Tire market?
- Who are the key players in the Rubber Tire market?
For detail insights on this market, request for methodology here @ https://www.maximizemarketresearch.com/request-sample/128465
Key Offerings:
- A detailed Market Overview
- Market Share
- Market Size
- Market Forecast by Revenue
- Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
- Market Segmentation- A detailed analysis of each segment and their segments
- Competitive Landscape – Leading key players and other prominent key players.
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