Market Overview:
The global passenger vehicle replacement tire market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for passenger cars and commercial vehicles, and the growing awareness about safety among consumers. The radial tire segment is expected to dominate the global passenger vehicle replacement tire market during the forecast period, owing to its superior performance as compared to bias tyres. In terms of application, the passenger car segment is expected to account for a major share of the global market during the forecast period, followed by commercial vehicles.
Product Definition:
A passenger vehicle replacement tire is a new or used tire that is specifically designated to replace one or more tires on a specific make and model of passenger vehicle. Passenger vehicle replacement tires are important because they provide the necessary traction and stability needed for safe operation of the passenger vehicle.
Radial Tire:
Radial tire is a type of tire that has a ribbed or tread pattern wound completely around the tire. The design provides better traction in comparison to non- radial tires and hence, it is primarily used in passenger vehicles for safety and performance benefits.
The demand for radial tires is expected to grow at an estimated CAGR of XX% from 2016 to 2024 on account of its ability to deliver improved handling characteristics, high speed stability along with enhanced braking power.
Bias Tyre:
Bias or uneven tire is a type of tire which has two different rubber compounds on either side of the tread. The bias tires are manufactured using natural rubber latex and synthetic (Pirelli) rubber. Bias tires are used for passenger vehicle replacement as well as for commercial vehicles such as trucks, buses, agricultural vehicles & tractors, and others.
Application Insights:
Passenger car replacement tires accounted for a share of over 50.0% in 2017 and are expected to maintain their dominance over the forecast period. The growing importance of passenger cars in developed economies such as Germany, France and U.K., owing to the increasing disposable income levels coupled with low interest rates is anticipated to drive growth during the forecast period.
The commercial vehicle replacement tire market is estimated to expand at a CAGR of XX% from 2018 to 2030 owing to an increase in demand for trucks and buses by various industries, including mining, construction and transportation among others on account of their durability, safety features along with comfort on rough roads surfaces which provides better grip while driving thereby improving vehicle stability leading towards enhanced fuel efficiency also known as reduced fuel consumption per unit distance traveled (mpcd).
Regional Analysis:
Asia Pacific dominated the global passenger vehicle replacement tire market in 2017. The region is expected to continue its dominance over the forecast period as well. This can be attributed to increasing sales of passenger cars and light commercial vehicles in China, India, South Korea, and Japan. Asia Pacific is also home to several emerging economies with growing automotive industries such as Indonesia, Thailand, Malaysia Philippines etc., which are anticipated to fuel growth over the next eight years.
Europe accounted for a significant share of revenue in 2017 owing to high demand from countries like Germany and France on account of stringent safety norms regarding tire performance after blowout incidents have occurred there recently.
Growth Factors:
- Increasing disposable income of consumers in developing countries is expected to drive the demand for passenger vehicle replacement tires over the forecast period.
- Proliferation of online retail channels is anticipated to provide consumers with easy access to a wider range of tire brands and sizes, thereby driving the market growth.
- The increasing trend of vehicle customization is projected to fuel the demand for aftermarket tires, thereby propelling the market growth over the forecast period.
- Growing awareness about safety and environmental concerns are likely to boost demand for high-quality and eco-friendly replacement tires in coming years
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Vehicle Replacement Tire Market Research Report
By Type
Radial Tire, Bias Tyre
By Application
Passenger Car, Commercial Vehicle
By Companies
Bridgestone, Goodyear, Michelin, Firestone, Yokohama, Hankook, Dunlop, Cooper Tire and Rubber, Bridgestone
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Vehicle Replacement Tire Market Report Segments:
The global Passenger Vehicle Replacement Tire market is segmented on the basis of:
Types
Radial Tire, Bias Tyre
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Car, Commercial Vehicle
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Bridgestone
- Goodyear
- Michelin
- Firestone
- Yokohama
- Hankook
- Dunlop
- Cooper Tire and Rubber
- Bridgestone
Highlights of The Passenger Vehicle Replacement Tire Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Radial Tire
- Bias Tyre
- By Application:
- Passenger Car
- Commercial Vehicle
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Passenger Vehicle Replacement Tire Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Passenger Vehicle Replacement Tire is a type of tire that is designed to be used in passenger vehicles. These tires are typically made from a softer rubber than other types of tires, which makes them less durable and more likely to blow out.
Some of the major players in the passenger vehicle replacement tire market are Bridgestone, Goodyear, Michelin, Firestone, Yokohama, Hankook, Dunlop, Cooper Tire and Rubber, Bridgestone.
The passenger vehicle replacement tire market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Passenger Vehicle Replacement Tire Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Passenger Vehicle Replacement Tire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Vehicle Replacement Tire Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Passenger Vehicle Replacement Tire Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Passenger Vehicle Replacement Tire Market Size & Forecast, 2018-2028
4.5.1 Passenger Vehicle Replacement Tire Market Size and Y-o-Y Growth
4.5.2 Passenger Vehicle Replacement Tire Market Absolute $ Opportunity
Chapter 5 Global Passenger Vehicle Replacement Tire Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Passenger Vehicle Replacement Tire Market Size Forecast by Type
5.2.1 Radial Tire
5.2.2 Bias Tyre
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Passenger Vehicle Replacement Tire Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Passenger Vehicle Replacement Tire Market Size Forecast by Applications
6.2.1 Passenger Car
6.2.2 Commercial Vehicle
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Passenger Vehicle Replacement Tire Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Passenger Vehicle Replacement Tire Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Passenger Vehicle Replacement Tire Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Vehicle Replacement Tire Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Passenger Vehicle Replacement Tire Market Size Forecast by Type
9.6.1 Radial Tire
9.6.2 Bias Tyre
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Passenger Vehicle Replacement Tire Market Size Forecast by Applications
9.10.1 Passenger Car
9.10.2 Commercial Vehicle
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Passenger Vehicle Replacement Tire Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Vehicle Replacement Tire Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Passenger Vehicle Replacement Tire Market Size Forecast by Type
10.6.1 Radial Tire
10.6.2 Bias Tyre
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Passenger Vehicle Replacement Tire Market Size Forecast by Applications
10.10.1 Passenger Car
10.10.2 Commercial Vehicle
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Passenger Vehicle Replacement Tire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Vehicle Replacement Tire Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Passenger Vehicle Replacement Tire Market Size Forecast by Type
11.6.1 Radial Tire
11.6.2 Bias Tyre
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Passenger Vehicle Replacement Tire Market Size Forecast by Applications
11.10.1 Passenger Car
11.10.2 Commercial Vehicle
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Passenger Vehicle Replacement Tire Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Vehicle Replacement Tire Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Passenger Vehicle Replacement Tire Market Size Forecast by Type
12.6.1 Radial Tire
12.6.2 Bias Tyre
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Passenger Vehicle Replacement Tire Market Size Forecast by Applications
12.10.1 Passenger Car
12.10.2 Commercial Vehicle
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Passenger Vehicle Replacement Tire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Vehicle Replacement Tire Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Passenger Vehicle Replacement Tire Market Size Forecast by Type
13.6.1 Radial Tire
13.6.2 Bias Tyre
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Passenger Vehicle Replacement Tire Market Size Forecast by Applications
13.10.1 Passenger Car
13.10.2 Commercial Vehicle
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Passenger Vehicle Replacement Tire Market: Competitive Dashboard
14.2 Global Passenger Vehicle Replacement Tire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bridgestone
14.3.2 Goodyear
14.3.3 Michelin
14.3.4 Firestone
14.3.5 Yokohama
14.3.6 Hankook
14.3.7 Dunlop
14.3.8 Cooper Tire and Rubber
14.3.9 Bridgestone
