Market Overview:
The global premium car tires 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, increasing demand for luxury and sports cars, rising disposable income of consumers, and technological advancements in the automotive industry. The global premium car tires market is segmented on the basis of type into bias tire and radial tire. The bias tire segment is expected to hold a major share in the global premium car tires market during the forecast period 2018-2030 owing to its high durability and low rolling resistance as compared to radial tires. On the basis of application, passenger vehicles are expected to dominate the global premium car tires market duringthe forecast period 2018-2030 due to increase in sales of luxury cars across different regions worldwide.
Product Definition:
A premium car tire is a high-quality tire that provides superior performance and handling. These tires are often more expensive than other types of tires, but they offer enhanced traction, braking, and cornering ability. They are also less likely to wear out quickly than other types of tires.
Bias Tire:
Bias tire is a type of tire which has a tread pattern built for maximum grip in one direction and minimum in the other. The bias or bias-ply tires were initially designed for use by aircraft, but are now used on automobiles as well. These tires provide better traction than radial tires, but have less rolling resistance and higher load carrying capacity.
Radial Tire:
Radial tires are designed to deliver better performance in terms of rolling resistance and provide higher fuel efficiency. The design provides a much larger contact patch between the tire and the road, which improves stability while driving at high speeds. This type of tire is suitable for use in passenger cars that travel long distances on paved roads as well as off-road vehicles such as agricultural tractors and construction equipment with large wheels.
Application Insights:
Passenger vehicles accounted for a share of over 50.0% in 2017 and are expected to maintain their dominance over the forecast period. The growing importance of passenger cars owing to rising disposable income levels, especially in emerging markets is expected to have a positive impact on market growth.
The commercial vehicle segment is projected to witness significant growth over the forecast period owing to increasing demand for trucks and buses from construction companies, mining companies, utility companies and transportation service providers across the globe. The premium tires cater better performance on gravel roads as compared with standard tires which provides comfort & safety while driving on rough terrain at high speeds.
Regional Analysis:
Asia Pacific dominated the global premium car tires market in 2017 and is expected to continue its dominance over the forecast period. The presence of key players such as Bridgestone, Michelin, Goodyear and Yokohama is one of the major factors contributing to regional growth. Furthermore, increasing demand for luxury vehicles in emerging economies such as India and China on account of rising disposable income coupled with growing population will drive regional growth further.
Europe accounted for a significant share in terms of revenue owing to high demand from passenger cars along with commercial vehicles segment. However, low usage rates due to cold weather conditions are hampering regional growth. North America region also has a limited market space owing to stringent regulations by regulatory bodies such as Department Of Transport (DOT) regarding winter tire usage which limits market penetration at higher prices resulting into lower sales volumes compared to other regions globally.
Growth Factors:
- Increasing disposable income of consumers: The premium car tire market is expected to grow at a CAGR of 6.5% during the forecast period, owing to the increasing disposable income of consumers across the globe. This is mainly because as the economy grows, people have more money to spend on luxury items such as premium car tires.
- Rising demand for luxury cars: The growth in the number of high-income individuals and their inclination towards purchasing luxury cars is another key factor that is expected to drive the growth of this market during the forecast period. As a result, OEMs are focusing on introducing new and innovative products in this segment, which will further fuel demand for premium car tires in coming years.
- Technological advancements: With technological advancements taking place at a rapid pace, OEMs are coming up with new technologies that offer better performance and durability for premium car tires. This is likely to spur demand for these products in near future among consumers who are looking for high-quality products backed by latest technology innovations.
Scope Of The Report
Report Attributes
Report Details
Report Title
Premium Car Tires Market Research Report
By Type
Bias Tire, Radial Tire
By Application
Passenger Vehicles, Commercial Vehicles
By Companies
Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo, Yokohama, Maxxis, Zhongce, GITI Tire, Cooper Tire, Kumho Tire, Toyo Tire, Madras Rubber Factory, Apollo Tyres, Triangle Tyre Group, Nexen Tire, Hengfeng Rubber, Nokian Tyres, Linglong Tire, Xingyuan Tires, Sailun 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
237
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Premium Car Tires Market Report Segments:
The global Premium Car Tires market is segmented on the basis of:
Types
Bias Tire, Radial 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
Passenger Vehicles, Commercial Vehicles
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
- Madras Rubber Factory
- Apollo Tyres
- Triangle Tyre Group
- Nexen Tire
- Hengfeng Rubber
- Nokian Tyres
- Linglong Tire
- Xingyuan Tires
- Sailun Group
Highlights of The Premium Car 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:
- Bias Tire
- Radial Tire
- By Application:
- Passenger Vehicles
- Commercial Vehicles
- 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 Premium Car 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?
Premium car tires are those that are made with a higher quality rubber than regular car tires. They typically have a higher price tag, but they offer better performance and durability.
Some of the major companies in the premium car tires market are Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo, Yokohama, Maxxis, Zhongce, GITI Tire, Cooper Tire, Kumho Tire, Toyo Tire, Madras Rubber Factory, Apollo Tyres, Triangle Tyre Group, Nexen Tire, Hengfeng Rubber, Nokian Tyres, Linglong Tire, Xingyuan Tires, Sailun Group.
The premium car tires market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Premium Car Tires Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Premium Car Tires Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Premium Car Tires Market - Supply Chain
4.5. Global Premium Car Tires Market Forecast
4.5.1. Premium Car Tires Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Premium Car Tires Market Size (000 Units) and Y-o-Y Growth
4.5.3. Premium Car Tires Market Absolute $ Opportunity
5. Global Premium Car Tires Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Premium Car Tires Market Size and Volume Forecast by Type
5.3.1. Bias Tire
5.3.2. Radial Tire
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Premium Car Tires Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Premium Car Tires Market Size and Volume Forecast by Application
6.3.1. Passenger Vehicles
6.3.2. Commercial Vehicles
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Premium Car Tires Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Premium Car Tires Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Premium Car Tires Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Premium Car Tires Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Premium Car Tires Demand Share Forecast, 2019-2026
9. North America Premium Car Tires Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Premium Car Tires Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Premium Car Tires Market Size and Volume Forecast by Application
9.4.1. Passenger Vehicles
9.4.2. Commercial Vehicles
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Premium Car Tires Market Size and Volume Forecast by Type
9.7.1. Bias Tire
9.7.2. Radial Tire
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Premium Car Tires Demand Share Forecast, 2019-2026
10. Latin America Premium Car Tires Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Premium Car Tires Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Premium Car Tires Market Size and Volume Forecast by Application
10.4.1. Passenger Vehicles
10.4.2. Commercial Vehicles
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Premium Car Tires Market Size and Volume Forecast by Type
10.7.1. Bias Tire
10.7.2. Radial Tire
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Premium Car Tires Demand Share Forecast, 2019-2026
11. Europe Premium Car Tires Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Premium Car Tires Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Premium Car Tires Market Size and Volume Forecast by Application
11.4.1. Passenger Vehicles
11.4.2. Commercial Vehicles
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Premium Car Tires Market Size and Volume Forecast by Type
11.7.1. Bias Tire
11.7.2. Radial Tire
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential nalysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Premium Car Tires Demand Share, 2019-2026
12. Asia Pacific Premium Car Tires Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Premium Car Tires Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Premium Car Tires Market Size and Volume Forecast by Application
12.4.1. Passenger Vehicles
12.4.2. Commercial Vehicles
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Premium Car Tires Market Size and Volume Forecast by Type
12.7.1. Bias Tire
12.7.2. Radial Tire
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Premium Car Tires Demand Share, 2019-2026
13. Middle East & Africa Premium Car Tires Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Premium Car Tires Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Premium Car Tires Market Size and Volume Forecast by Application
13.4.1. Passenger Vehicles
13.4.2. Commercial Vehicles
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Premium Car Tires Market Size and Volume Forecast by Type
13.7.1. Bias Tire
13.7.2. Radial Tire
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Premium Car Tires Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Premium Car Tires Market: Market Share Analysis
14.2. Premium Car Tires Distributors and Customers
14.3. Premium Car Tires Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Bridgestone
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Michelin
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Goodyear
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Continental
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Pirelli
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Hankook
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Sumitomo
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Yokohama
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Maxxis
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Zhongce
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. GITI Tire
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Cooper Tire
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Kumho Tire
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Toyo Tire
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. Madras Rubber Factory
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Apollo Tyres
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Triangle Tyre Group
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Nexen Tire
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Hengfeng Rubber
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Nokian Tyres
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
