Market Overview:
The global summer tires 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 summer tires from the automotive sector, especially in developing countries such as China and India. Additionally, technological advancements in tire manufacturing are also contributing to the growth of this market. The global summer tires market is segmented on the basis of type, application and region. On the basis of type, it is divided into inner tube and tubeless tyres. Inner tubes are further classified into butyl rubber tubes and latex rubber tubes while tubeless tyres are further classified into radial tyres and bias ply tyres. Radial tyres held a major share of more than 60% in 2017 owing to their high durability as compared to bias ply tyres which are mostly used for light trucks & buses applications across regions such as North America, Latin America, Europe Asia Pacific & Middle East & Africa (MEA).
Product Definition:
Summer tires are specifically designed to provide superior performance on warm, dry roads. They have a tread pattern that helps evacuate water more effectively than all-season or winter tires, providing enhanced traction and braking ability. Summer tires also typically have a softer rubber compound than all-season or winter tires, which gives them better grip and handling on hot pavement.
Inner Tube:
Inner tube is a rubber product that is used in the manufacture of tires. It has several uses but primarily it's used as an inner liner for tire manufacturing. The growth factor for the market is Summer tires which are manufactured to be used during the summer season only and have no use in any other weather conditions.
The demand for inner tubes can be attributed to factors such as longer durability, reliability, better performance at high temperatures.
Tubeless:
Tubeless tires are a type of tire that has been around for quite some time. However, they have gained popularity in the last few years due to technological advancements and ease of use. These tires do not require an inner tube and hence are known as tubeless tires.
Application Insights:
The trucks and buses application segment led the global market and accounted for more than a 29% share of the overall revenue in 2017. The segment is projected to expand further at a steady CAGR from 2018 to 2030 owing to an increase in construction activities across developing countries, such as India, China and Brazil. Moreover, governments are spending on infrastructure development which will boost product demand over the forecast period.
The SUV application segment is expected to witness significant growth over the forecast period owing to growing purchasing power of middle-class income groups in developing countries including China, India and Brazil. In addition, increasing disposable income levels coupled with improved standard of living has encouraged consumers towards luxury vehicle purchase; this will positively impact industry growth over the next eight years or so.
Regional Analysis:
Asia Pacific dominated the global summer tires market in 2017. The region is expected to witness significant growth over the forecast period owing to increasing sales of passenger cars and trucks. In addition, rising disposable income levels and population are anticipated to fuel regional product demand in developing countries such as China, India, Thailand, Malaysia and Indonesia.
The European region accounted for a share of more than 20% in terms of volume sold in 2017 on account of high demand from automotive manufacturers across major economies including Germany, France Italy and Russia among others. The presence of prominent tire manufacturers coupled with stringent government regulations regarding fuel economy is likely to be a key factor influencing regional growth over the coming years.
North America was one among the top three regions that accounted for a share within the total revenue generated by Summer tires globally (in terms of volume) along with Asia Pacific (97%) and Latin America (3%).
Growth Factors:
- Increasing demand for summer tires from the automotive sector as a result of increasing sales of passenger cars and SUVs.
- Rising consumer awareness about the benefits of using summer tires, which is expected to boost demand over the forecast period.
- Technological advancements in tire manufacturing that are resulting in the development of more durable and safer summer tires.
- The growing popularity of sports cars and luxury vehicles, which is leading to an increase in demand for high-performance summer tires.
Scope Of The Report
Report Attributes
Report Details
Report Title
Summer 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
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Summer Tires Market Report Segments:
The global Summer 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 Summer 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 Summer 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.
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?
Summer tires are designed to provide better traction in hot weather conditions.
Some of the key players operating in the summer 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 summer tires market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Summer 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 Summer Tires Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Summer 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 Summer 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 Summer Tires Market Size & Forecast, 2018-2028
4.5.1 Summer Tires Market Size and Y-o-Y Growth
4.5.2 Summer Tires Market Absolute $ Opportunity
Chapter 5 Global Summer 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 Summer 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 Summer 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 Summer 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 Summer 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 Summer 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 Summer Tires Analysis and Forecast
9.1 Introduction
9.2 North America Summer 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 Summer 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 Summer 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 Summer Tires Analysis and Forecast
10.1 Introduction
10.2 Europe Summer 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 Summer 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 Summer 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 Summer Tires Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Summer 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 Summer 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 Summer 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 Summer Tires Analysis and Forecast
12.1 Introduction
12.2 Latin America Summer 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 Summer 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 Summer 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) Summer Tires Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Summer 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) Summer 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) Summer 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 Summer Tires Market: Competitive Dashboard
14.2 Global Summer 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
