Market Overview:
The global vehicle tyre 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 cars and commercial vehicles, rising disposable income, and technological advancements in tyre manufacturing. The global vehicle tyre market is segmented on the basis of type into radial tyres and bias tyres. Radial tyres are expected to dominate the market during the forecast period owing to their superior performance as compared to bias tyres. Bias tyres are mainly used in heavy-duty vehicles owing to their high load-carrying capacity. On the basis of application,the global vehicle tyre market is segmented into OEM and aftermarket segments.
Product Definition:
A tyre is a resilient ring-shaped covering that fits around a wheel to protect it and enable better traction.
Radial Tyre:
Radial Tyre is a type of tire which has six equally spaced beads around its rim. It was initially designed for use in aircraft but is now used in automobiles as well. The radial tire has a larger footprint than the standard pneumatic tire, which enables better stability while turning and prevents skidding on wet roads.
The radial tires are manufactured with steel belts instead of rubber, which reduces the rolling resistance significantly, resulting in improved fuel efficiency.
Bias Tyre:
Bias Tyre is a type of tire which has one ply of rubber mounted on the rim and the other side covered with wire. It is mainly used in light vehicles such as cars, vans, trucks and cycles. The bias tire was first manufactured by Goodyear Rubber & Tire Company in the year1927 for their car models 27 and 28 series which were then introduced in October 1927.
Application Insights:
OEMs generate higher revenues as they control the entire supply chain. The aftermarket, on the other hand, is expected to witness significant growth over the forecast period owing to increased spending on vehicle maintenance and replacement tires. Increasing disposable income levels in developing countries such as China and India has led to an increase in demand for vehicles, which is anticipated to further fuel market growth over the forecast period.
The radial tire application segment dominated OEM revenue share in 2017 owing to its wide usage across various applications such as agriculture equipment, construction equipment and heavy-duty trucks among others. Increased use of radials at airports for aircraft parking due to their low profile design makes them suitable for aircraft landing and takeoff even at high temperatures.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing rapid urbanization, which has resulted in an increasing number of vehicles on roads. This scenario is anticipated to drive product demand over the forecast period.
The growing automotive industry across emerging economies such as India and China are likely to have a positive impact on regional growth over the next eight years. However, stringent government regulations regarding vehicle emissions are projected to hamper growth during this period. North America accounted for a significant share of revenue in 2017 owing to high consumer awareness about tire safety coupled with stringent government norms pertaining vehicle safety standards implemented by National Highway Traffic Safety Administration (NHTSA). Europe also contributed significantly towards product sales owing rising concerns among consumers about tire quality issues associated with bias tires used earlier for commercial applications such as buses and trucks etc.
Growth Factors:
- Increasing demand for passenger cars and commercial vehicles
- Rising disposable income of consumers in developing countries
- Proliferation of online tyre retailers and increasing consumer awareness about the benefits of buying tyres online
- Introduction of new technologies and products that improve fuel efficiency and tyre life
- Stringent government regulations mandating the use of high-quality tyres in vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
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
230
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle Tyre Market Report Segments:
The global 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 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 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
- 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?
A tyre is a rubber or plastic disk that is inflated to provide traction on the road.
Some of the major players in the vehicle tyre market are Michelin, Bridgestone, Continental, Pirelli, Goodyear, Shanghai Huayi, Sumitomo Rubber Industries, ZC Rubber, Yokohama, Nokian Tyres, Hankook, Maxxis, Triangle Group.
The 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 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 Vehicle Tyre Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 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 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 Vehicle Tyre Market Size & Forecast, 2018-2028
4.5.1 Vehicle Tyre Market Size and Y-o-Y Growth
4.5.2 Vehicle Tyre Market Absolute $ Opportunity
Chapter 5 Global 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 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 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 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 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 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 Vehicle Tyre Analysis and Forecast
9.1 Introduction
9.2 North America 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 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 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 Vehicle Tyre Analysis and Forecast
10.1 Introduction
10.2 Europe 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 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 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 Vehicle Tyre Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 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 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 Vehicle Tyre Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 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 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) Vehicle Tyre Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) 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) 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 Vehicle Tyre Market: Competitive Dashboard
14.2 Global 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
