Market Overview:
The global spare tires market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for passenger cars and commercial vehicles, along with the rising trend of replacement tires over original equipment manufacturer (OEM) tires. In terms of type, the inner tube segment is expected to hold a larger share in the global spare tires market during the forecast period, owing to its low cost and easy installation.
Product Definition:
A spare tire is a type of vehicle tyre that is kept in reserve for use in the event of a flat tyre.
Inner Tube:
Inner tube is a rubber product which is used in the manufacturing of tires. It has a round shape and can be inflated with air to make it suitable for use as a spare tire. The inner tubes are available in different sizes depending upon the application requirements, for instance, mountain bike tires require smaller sized inner tubes as they are designed specifically to carry rough terrains while road bike tires have wider dimensions and need larger sized inner tubes so that they can accommodate more tread depth.
Tubeless:
Tubeless tires are those which do not have a valve attached to them. The air is supplied by the vehicle’s tire pressure monitoring system, and they can be used with any pneumatic tire. They were initially designed for use in bicycles but are now being increasingly adopted in automobiles as well owing to their several benefits such as less rolling resistance, better safety, and stability among others.
Application Insights:
The SUV segment accounted for the largest share of over 30.0% in 2017 and is expected to continue its dominance over the forecast period. The growing demand for four-wheelers with high safety standards, luxury features, and better performance than sedans is projected to have a positive impact on segment growth.
Spare tires are widely used in trucks & buses as they provide better handling characteristics along with enhanced stability at higher speeds compared to passenger cars or light commercial vehicles (LCVs). Moreover, increasing utilization of these tires by public transport agencies owing to their low maintenance cost and durability is likely to fuel market growth during the forecast period. Increasing production capacities coupled with rising consumer disposable income levels in emerging economies such as China India & Brazil has resulted in increased production of LCVs which will further propel market growth during the estimated time frame.
Regional Analysis:
Asia Pacific dominated the global spare tires market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing vehicle production, low cost of manufacturing, high population density, and rapid urbanization. The presence of key manufacturers such as Bridgestone Corporation; Goodyear Tire & Rubber Company; Michelin Group; Pirelli & Co. KGaA.; Yokohama Rubber Co., Ltd.; and Dunlop Limited has also contributed significantly towards regional growth.
The Asia Pacific region is characterized by rapidly growing economies that are home to some of the largest automotive markets across the globe such as China and India.
Growth Factors:
- Increasing demand for spare tires from the automotive sector
- Growing popularity of off-road vehicles and SUVs
- Proliferation of online tire retailers and installation services
- Rising number of road accidents and vehicle breakdowns
- Technological advancements in tire manufacturing
Scope Of The Report
Report Attributes
Report Details
Report Title
Spare Tires Market Research Report
By Type
Inner Tube, Tubeless
By Application
Sedans, SUV, Trucks & Buses, Others
By Companies
Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo, Yokohama, Maxxis, Zhongce, GITI Tire, Cooper Tire, Kumho Tire, Toyo Tire, Apollo Tyres, Triangle Group, Nexen Tire, Hengfeng Rubber, Nokian Tyres
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
192
Number of Tables & Figures
135
Customization Available
Yes, the report can be customized as per your need.
Global Spare Tires Market Report Segments:
The global Spare Tires market is segmented on the basis of:
Types
Inner Tube, Tubeless
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
Sedans, SUV, Trucks & Buses, Others
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
- Michelin
- Goodyear
- Continental
- Pirelli
- Hankook
- Sumitomo
- Yokohama
- Maxxis
- Zhongce
- GITI Tire
- Cooper Tire
- Kumho Tire
- Toyo Tire
- Apollo Tyres
- Triangle Group
- Nexen Tire
- Hengfeng Rubber
- Nokian Tyres
Highlights of The Spare Tires 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:
- Inner Tube
- Tubeless
- By Application:
- Sedans
- SUV
- Trucks & Buses
- Others
- 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 Spare Tires 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.
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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?
Spare tires are a type of tire that is not used on the vehicle for which it was designed. They are typically stored in a warehouse or other location and can be used to replace tires on another vehicle if needed.
Some of the major players in the spare tires market are Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo, Yokohama, Maxxis, Zhongce, GITI Tire, Cooper Tire, Kumho Tire, Toyo Tire, Apollo Tyres, Triangle Group, Nexen Tire, Hengfeng Rubber, Nokian Tyres.
The spare tires 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 Spare Tires 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 Spare Tires Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Spare Tires 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 Spare Tires 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 Spare Tires Market Size & Forecast, 2018-2028 4.5.1 Spare Tires Market Size and Y-o-Y Growth 4.5.2 Spare Tires Market Absolute $ Opportunity
Chapter 5 Global Spare Tires 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 Spare Tires Market Size Forecast by Type
5.2.1 Inner Tube
5.2.2 Tubeless
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Spare Tires 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 Spare Tires Market Size Forecast by Applications
6.2.1 Sedans
6.2.2 SUV
6.2.3 Trucks & Buses
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Spare Tires 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 Spare Tires 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 Spare Tires Analysis and Forecast
9.1 Introduction
9.2 North America Spare Tires 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 Spare Tires Market Size Forecast by Type
9.6.1 Inner Tube
9.6.2 Tubeless
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 Spare Tires Market Size Forecast by Applications
9.10.1 Sedans
9.10.2 SUV
9.10.3 Trucks & Buses
9.10.4 Others
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 Spare Tires Analysis and Forecast
10.1 Introduction
10.2 Europe Spare Tires 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 Spare Tires Market Size Forecast by Type
10.6.1 Inner Tube
10.6.2 Tubeless
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 Spare Tires Market Size Forecast by Applications
10.10.1 Sedans
10.10.2 SUV
10.10.3 Trucks & Buses
10.10.4 Others
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 Spare Tires Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Spare Tires 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 Spare Tires Market Size Forecast by Type
11.6.1 Inner Tube
11.6.2 Tubeless
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 Spare Tires Market Size Forecast by Applications
11.10.1 Sedans
11.10.2 SUV
11.10.3 Trucks & Buses
11.10.4 Others
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 Spare Tires Analysis and Forecast
12.1 Introduction
12.2 Latin America Spare Tires 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 Spare Tires Market Size Forecast by Type
12.6.1 Inner Tube
12.6.2 Tubeless
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 Spare Tires Market Size Forecast by Applications
12.10.1 Sedans
12.10.2 SUV
12.10.3 Trucks & Buses
12.10.4 Others
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) Spare Tires Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Spare Tires 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) Spare Tires Market Size Forecast by Type
13.6.1 Inner Tube
13.6.2 Tubeless
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) Spare Tires Market Size Forecast by Applications
13.10.1 Sedans
13.10.2 SUV
13.10.3 Trucks & Buses
13.10.4 Others
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 Spare Tires Market: Competitive Dashboard
14.2 Global Spare Tires Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Bridgestone
14.3.2 Michelin
14.3.3 Goodyear
14.3.4 Continental
14.3.5 Pirelli
14.3.6 Hankook
14.3.7 Sumitomo
14.3.8 Yokohama
14.3.9 Maxxis
14.3.10 Zhongce
14.3.11 GITI Tire
14.3.12 Cooper Tire
14.3.13 Kumho Tire
14.3.14 Toyo Tire
14.3.15 Apollo Tyres
14.3.16 Triangle Group
14.3.17 Nexen Tire
14.3.18 Hengfeng Rubber
14.3.19 Nokian Tyres