Market Overview:
The global passenger vehicle tire market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for passenger vehicles, especially in emerging economies such as China and India. Additionally, the increasing adoption of radial tires over bias tires is also contributing to the growth of this market. The global passenger vehicle tire market can be segmented on the basis of type into radial tires and bias tires. Radial tires are expected to witness higher growth than bias tires during the forecast period owing to their superior performance and longer life span as compared to bias tyres. The global passenger vehicle tyre market can also be segmented on the basis of application into OEM and aftermarket segments. The OEM segment is expected to account for a larger share of this market than aftermarket due its growing demand from original equipment manufacturers (OEMs).
Product Definition:
A passenger vehicle tire is a type of tire that is designed for use on passenger cars and light trucks. Passenger vehicle tires are typically smaller in size than commercial truck tires, and they are not rated for high speeds or long distances. Passenger vehicle tires play an important role in the safety of a car or truck, and they must be maintained properly in order to perform their best.
Radial Tire:
Radial tire is a type of tire which has a ribbed inner surface, produced to provide better grip in comparison with the regular tires. The radial construction provides increased stability and strength as compared to the standard pneumatic tires. In addition, it also enhances the performance of braking systems mounted on vehicles. Radial tires are primarily used for passenger cars and light trucks; hence their demand is directly proportional to that of passenger vehicle sales globally.
Bias Tire:
Bias tire is a type of tire which is manufactured with two different types of rubber compounds, which are not mixed at the same time during manufacturing process. The two types of tires have different characteristics and performance in terms of rolling resistance, wear & tear and fuel economy. One type of tire has a harder compound than the other one for better grip on road while driving; whereas softer compound provides better comfort ride quality.
Application Insights:
OEMs held around 69.0% of the global passenger vehicle tire market in 2017, in terms of revenue. The dominance is attributed to the extensive use of OEM tires by automotive manufacturers across all regions, as they provide optimal performance and safety for vehicles. Furthermore, stringent regulations on weight reduction for commercial vehicles may force OEMs to downscale their product offerings from 2018 onward.
The aftermarket segment is projected to expand at a CAGR of XX% over the forecast period owing to an increase in replacement tires sales due to tread wear and tear as well as accidents caused by road hazards such as potholes or cracks on roads leadingto tire failure resulting in increased demand for new tires from consumers globally which will drive growth over the coming years.
Regional Analysis:
Asia Pacific dominated the global passenger vehicle tire market in 2017 and is expected to continue its dominance over the forecast period. The presence of key automotive manufacturers, such as Toyota, Honda Motor Co., Ltd., Suzuki Motor Corporation and Hyundai Mobis, in developing economies of Asia Pacific has resulted in high demand for tires from OEMs. Furthermore, rising disposable income coupled with increasing sales of premium cars is likely to drive growth over the next eight years.
Europe was estimated at USD X billion in 2017 and is anticipated to witness significant growth over the forecast period owing to stringent government regulations regarding fuel economy along with increased safety standards for vehicles driven on public roads. In addition, growing popularity of electric vehicles will further boost regional product demand during the forecast period.
Growth Factors:
- Increasing demand for passenger vehicles
- Rising disposable income of consumers in developing countries
- Technological advancements in the production of tires
- Growing awareness about the benefits of using passenger vehicle tires
- Stringent government regulations on tire quality and safety
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Vehicle Tire Market Research Report
By Type
Radial Tire, Bias Tire
By Application
OEM, Aftermarket
By Companies
Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Hankook, Maxxis, Triangle Group
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
185
Number of Tables & Figures
130
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Vehicle Tire Market Report Segments:
The global Passenger Vehicle Tire market is segmented on the basis of:
Types
Radial Tire, Bias Tire
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
OEM, Aftermarket
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:
- Michelin
- Bridgestone
- Continental
- Pirelli
- Goodyear
- Shanghai Huayi
- Sumitomo Rubber Industries
- ZC Rubber
- Yokohama
- Nokian Tyres
- Hankook
- Maxxis
- Triangle Group
Highlights of The Passenger Vehicle 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 Tire
- By Application:
- OEM
- Aftermarket
- 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 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
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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?
A passenger vehicle tire is a type of tire designed for use on a motor vehicle. Passenger vehicle tires are typically larger and heavier than truck or SUV tires, and are intended to provide more stability and traction on roads.
Some of the major players in the passenger vehicle tire market are Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Hankook, Maxxis, Triangle Group.
The passenger vehicle 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 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 Tire Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Vehicle 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 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 Tire Market Size & Forecast, 2018-2028
4.5.1 Passenger Vehicle Tire Market Size and Y-o-Y Growth
4.5.2 Passenger Vehicle Tire Market Absolute $ Opportunity
Chapter 5 Global Passenger Vehicle 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 Tire Market Size Forecast by Type
5.2.1 Radial Tire
5.2.2 Bias Tire
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Passenger Vehicle 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 Tire Market Size Forecast by Applications
6.2.1 OEM
6.2.2 Aftermarket
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Passenger Vehicle 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 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 Tire Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Vehicle 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 Tire Market Size Forecast by Type
9.6.1 Radial Tire
9.6.2 Bias Tire
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 Tire Market Size Forecast by Applications
9.10.1 OEM
9.10.2 Aftermarket
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 Tire Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Vehicle 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 Tire Market Size Forecast by Type
10.6.1 Radial Tire
10.6.2 Bias Tire
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 Tire Market Size Forecast by Applications
10.10.1 OEM
10.10.2 Aftermarket
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 Tire Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Vehicle 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 Tire Market Size Forecast by Type
11.6.1 Radial Tire
11.6.2 Bias Tire
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 Tire Market Size Forecast by Applications
11.10.1 OEM
11.10.2 Aftermarket
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 Tire Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Vehicle 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 Tire Market Size Forecast by Type
12.6.1 Radial Tire
12.6.2 Bias Tire
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 Tire Market Size Forecast by Applications
12.10.1 OEM
12.10.2 Aftermarket
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 Tire Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Vehicle 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 Tire Market Size Forecast by Type
13.6.1 Radial Tire
13.6.2 Bias Tire
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 Tire Market Size Forecast by Applications
13.10.1 OEM
13.10.2 Aftermarket
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 Tire Market: Competitive Dashboard
14.2 Global Passenger Vehicle Tire Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Michelin
14.3.2 Bridgestone
14.3.3 Continental
14.3.4 Pirelli
14.3.5 Goodyear
14.3.6 Shanghai Huayi
14.3.7 Sumitomo Rubber Industries
14.3.8 ZC Rubber
14.3.9 Yokohama
14.3.10 Nokian Tyres
14.3.11 Hankook
14.3.12 Maxxis
14.3.13 Triangle Group
