Market Overview:
The global passenger vehicle tyre market is expected to grow at a CAGR of 5.5% during the forecast period 2018-2030. The growth in the market can be attributed to factors such as, increase in demand for luxury and premium cars, rise in disposable income of consumers, and increase in sales of passenger vehicles across the globe. The radial tyre segment is expected to dominate the global passenger vehicle tyre market during the forecast period 2018-2030. This can be attributed to its superior performance as compared to bias tyres and its growing popularity among consumers owing to its better fuel efficiency and longer life span. The OEM segment is expected to account for a major share of the global passenger vehicle tyre market during the forecast period 2018-2030.
Product Definition:
A passenger vehicle tyre is a type of tyre that is specifically designed for use on passenger cars and light trucks. Passenger vehicle tyres are typically narrower than truck tyres, and they have a smaller sidewall height. They also have a lower load capacity than truck tyres. Passenger vehicle tyres are designed to provide good fuel economy, handling, and braking performance. They are also engineered to provide long tread life and superior ride quality.
Radial Tyre:
Radial Tyre is a type of tire which has six equally spaced beads around its outer edge. It was designed to provide better stability and handling in case of adverse road conditions such as snow or ice. The radial tire provides more contact area with the road, resulting in better traction than a standard pneumatic tire.
The radial tires are manufactured by using different types of materials including natural rubber, synthetic rubber,.
Bias Tyre:
Bias is a term used for the degree of unevenness in rubber tires. It can be caused due to manufacturing defects or by natural aging. Bias can cause cracking and increase rolling resistance, resulting in decreased efficiency of the vehicle. To reduce this effect, manufacturers add chemicals such as balata into the rubber mix during tire production; however, balata-based tires are expensive compared to natural bias tires and do not provide better performance benefits.
Application Insights:
Passenger vehicle tires are majorly used in two applications, namely OEM and aftermarket. In 2017, the OEM segment held a revenue share of over 70% in the market for passenger vehicle tires. The growing importance of tire performance, especially on account of safety concerns regarding road accidents and rollover risk due to poor handling of vehicles caused by low-quality rubber products is expected to drive demand from OEMs over the forecast period.
The aftermarket segment is anticipated to expand at a CAGR exceeding 5% from 2018 to 2030 owing to factors such as increasing sales volume resulting in higher average selling price (ASP), technological advancements that have led towards increased usage rates per unit area among other things. For instance, radial tires generally have lower usage rates compared with bias or tubeless tires but they last longer which results in increased tire production rate thus higher ASPs for both new as well as re-treaded products respectively.
Regional Analysis:
Asia Pacific dominated the global passenger vehicle tyre market in 2017 and is expected to continue its dominance over the forecast period. The region is home to some of the largest automotive markets globally, including China, India, Japan and South Korea. Increasing automobile production in these countries coupled with stringent government regulations regarding fuel economy of vehicles has resulted in increased demand for passenger vehicle tyres over the past few years.
Europe accounted for a significant share of revenue generated by aftermarket segment owing to high demand from fleet operators as well as consumers who are looking for quality products at competitive prices. North America also had a prominent position in terms of revenue generation by aftermarket due to increasing consumer preference towards premium priced passenger car tires that offer enhanced performance on wet roads and better ride quality compared to budget offerings Tyres marked up their price based on size (eg: 205/55R16) or application (OEM replacement).
Growth Factors:
- Increasing demand for passenger vehicles
- Rising disposable income of consumers
- Technological advancements in tyre manufacturing process
- Growing awareness about the importance of tyre safety among consumers
- Stringent government regulations on tyre safety
Scope Of The Report
Report Attributes
Report Details
Report Title
Passenger Vehicle Tyre Market Research Report
By Type
Radial Tyre, Bias Tyre
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
157
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Passenger Vehicle Tyre Market Report Segments:
The global Passenger Vehicle Tyre market is segmented on the basis of:
Types
Radial Tyre, 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
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 Tyre 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 Tyre
- Bias Tyre
- 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 Tyre 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
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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?
Passenger Vehicle Tyre is a type of tyre that is designed for use on passenger vehicles. These tyres are typically made from rubber and have a tread pattern that helps to provide traction while driving.
Some of the major players in the passenger vehicle tyre market are Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Hankook, Maxxis, Triangle Group.
The passenger vehicle tyre 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 Tyre 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 Tyre Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Passenger Vehicle Tyre 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 Tyre 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 Tyre Market Size & Forecast, 2018-2028
4.5.1 Passenger Vehicle Tyre Market Size and Y-o-Y Growth
4.5.2 Passenger Vehicle Tyre Market Absolute $ Opportunity
Chapter 5 Global Passenger Vehicle Tyre 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 Tyre Market Size Forecast by Type
5.2.1 Radial Tyre
5.2.2 Bias Tyre
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Passenger Vehicle Tyre 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 Tyre 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 Tyre 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 Tyre 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 Tyre Analysis and Forecast
9.1 Introduction
9.2 North America Passenger Vehicle Tyre 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 Tyre Market Size Forecast by Type
9.6.1 Radial Tyre
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 Tyre 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 Tyre Analysis and Forecast
10.1 Introduction
10.2 Europe Passenger Vehicle Tyre 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 Tyre Market Size Forecast by Type
10.6.1 Radial Tyre
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 Tyre 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 Tyre Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Passenger Vehicle Tyre 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 Tyre Market Size Forecast by Type
11.6.1 Radial Tyre
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 Tyre 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 Tyre Analysis and Forecast
12.1 Introduction
12.2 Latin America Passenger Vehicle Tyre 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 Tyre Market Size Forecast by Type
12.6.1 Radial Tyre
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 Tyre 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 Tyre Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Passenger Vehicle Tyre 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 Tyre Market Size Forecast by Type
13.6.1 Radial Tyre
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 Tyre 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 Tyre Market: Competitive Dashboard
14.2 Global Passenger Vehicle Tyre 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
