An automotive tire is a type of circular component which is made of a flexible, strong rubber casing which is connected to the rim of a wheel. The tires offer a gripping surface for traction between the road surface and vehicles and provide a cushion for the wheels of moving vehicles to decrease the impact of vibrations. The tires in most of the vehicles are pneumatic in which the air is held under pressure inside the tire; earlier, the pneumatic tires comprise an inner tube to hold the air pressure, but now such tires are developed to form a pressure seal with the rim of a wheel.

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The factor fuelling the growth of the global automotive tires market includes the growing demand for tires as a result of the rise in the production of vehicles across various regions. In addition, implementation of advanced technology in the manufacturing process such as the incorporation of additive manufacturing & 3D printing and the rising inclination of the tire manufacturers towards the development of sustainable tires that meets the strict performance standards are some other factors which are accelerating the demand for automotive tires in the market during the forecast period.

The growing demand for high-performance tires among the customers and the rising penetration of electric vehicles owing to various government initiatives and increasing concerns for the environment are the significant factors that are paving various growth opportunities for automotive tires in the market worldwide. Moreover, enhancement in the living standards of people and an increase in disposable income are leading to a rise in the sales of automotive across various developing countries. This factor has increased the demand for automotive tires in the market. The factors which are responsible for hindering the growth of the global automotive tires market include the unstable prices of raw materials of tires like synthetic rubber.

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Based on the type, the radial segment is anticipated to increase at a higher CAGR in the global automotive tires market during the forecast period owing to the increasing usage of such type of tires as a result of various advantages offered such as decrease the machine costs, greater productivity, and lowers consumption of fuel.

Based on the vehicle type, the passenger car segment is projected to grow at a higher compound annual growth rate over the forecast period in the global automotive tires market due to the increasing demand for automotive tires as a result of the growing penetration of passenger cars across various countries. In addition, an increase in disposable income, enhancement in the economic conditions, and inclination towards comfortable and convenient transportation are also some key factors paving various growth opportunities for the automotive tires in this segment.

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Based on the region, the Asia-Pacific region is expected to increase at a higher CAGR in the global automotive tires market during the forecast period due to the rising adoption of automotive tires in this region as a result of the presence of various automotive manufacturers and tire manufacturers across countries like Japan and South Korea. In addition, the expansion of the automotive industry in countries like India and china is also driving the growth of the market. For instance, the government of China expects the output of the automobiles is expected to reach 30 million units by 2020 and 35 million by 2025. Moreover, an increase in the development of infrastructure across various countries has resulted in the adoption of commercial vehicles, which is also a key factor surging the demand for automotive tires in the market across the region.

Various notable players operating in the market include Continental AG, Bridgestone Corporation, MICHELIN, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, Ltd., Pirelli & C. S.p.A., THE YOKOHAMA RUBBER CO., LTD., Hankook Tire & Technology Co., Ltd, Toyo Tire Corporation, and Cooper Tire & Rubber Company, among others. 

Key Developments: 

• • In 2019, MICHELIN launched a new tire range Energy XM2+ for small and mid-sized passenger cars in India. This range is an enhancement in the previous tire range Energy XM2.
  • In 2020, The Goodyear Tire & Rubber Company collaborated with Lordstown motors on tires and service along with future tire intelligence opportunities. In this collaboration, the company planned to acquire new endurance vehicles to incorporate in its own service fleet organizations acknowledging the sustainable footprint of all-electric vehicles.

The global automotive tires market has been segmented on the basis of type, season, vehicle type, rim size, distribution channel, and regions. Based on type, the market is segmented into bias and radial. Based on the season, the market is segmented into summer, winter, and all seasons. Based on vehicle type, the market is segmented into the passenger car, LCV, buses, and trucks. Based on rim size, the market is segmented into less than 15 inch, 15-20 inch, and more than 20 inch. Based on the distribution channel, the market is segmented into OEM and aftermarket. 

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Key questions answered in this research report:

• • At what pace is the global automotive tires market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the automotive tires market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global automotive tires market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various distribution channels of the global automotive tires market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Season, By Vehicle Type, By Rim Size, By Distribution Channel, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Continental AG, Bridgestone Corporation, MICHELIN, The Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, Ltd., Pirelli & C. S.p.A., THE YOKOHAMA RUBBER CO., LTD., Hankook Tire & Technology Co., Ltd, Toyo Tire Corporation, and Cooper Tire & Rubber Company, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Automotive Tires Market by Type

• • Bias
  • Radial

Global Automotive Tires Market by Season

• • Summer
  • Winter
  • All Seasons

Global Automotive Tires Market by Vehicle Type

• • Passenger Car
  • LCV
  • Buses
  • Trucks

Global Automotive Tires Market by Rim Size

• • Less than 15 Inch
  • 15-20 Inch
  • More than 20 Inch

Global Automotive Tires Market by Distribution Channel

• • OEM
  • Aftermarket

Global Automotive Tires Market by Region

• • North America Automotive Tires Market (Option 1: As a part of the free 25% customization)
    • North America Automotive Tires Market by Type
    • North America Automotive Tires Market by Season
    • North America Automotive Tires Market by Vehicle Type
    • North America Automotive Tires Market by Rim Size
    • North America Automotive Tires Market by Distribution Channel
    • US Automotive Tires Market All-Up
    • Canada Automotive Tires Market All-Up
  • Europe Automotive Tires Market (Option 2: As a part of the free 25% customization)
    • Europe Automotive Tires Market by Type
    • Europe Automotive Tires Market by Season
    • Europe Automotive Tires Market by Vehicle Type
    • Europe Automotive Tires Market by Rim Size
    • Europe Automotive Tires Market by Distribution Channel
    • UK Automotive Tires Market All-Up
    • Germany Automotive Tires Market All-Up
    • France Automotive Tires Market All-Up
    • Spain Automotive Tires Market All-Up
    • Rest of Europe Automotive Tires Market All-Up
  • Asia-Pacific Automotive Tires Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Automotive Tires Market by Type
    • Asia-Pacific Automotive Tires Market by Season
    • Asia-Pacific Automotive Tires Market by Vehicle Type
    • Asia-Pacific Automotive Tires Market by Rim Size
    • Asia-Pacific Automotive Tires Market by Distribution Channel
    • China Automotive Tires Market All-Up
    • India Automotive Tires Market All-Up
    • Japan Automotive Tires Market All-Up
    • Rest of APAC Automotive Tires Market All-Up
  • RoW Automotive Tires Market (Option 4: As a part of the free 25% customization)
    • RoW Automotive Tires Market by Type
    • RoW Automotive Tires Market by Season
    • RoW Automotive Tires Market by Vehicle Type
    • RoW Automotive Tires Market by Rim Size
    • RoW Automotive Tires Market by Distribution Channel
    • Brazil Automotive Tires Market All-Up
    • South Africa Automotive Tires Market All-Up
    • Saudi Arabia Automotive Tires Market All-Up
    • UAE Automotive Tires Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Automotive Tires Market All-Up

Major Players Operating in the Automotive Tires Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Continental AG
  • Bridgestone Corporation
  • MICHELIN
  • The Goodyear Tire & Rubber Company
  • Sumitomo Rubber Industries, Ltd.
  • Pirelli & C. S.p.A.
  • THE YOKOHAMA RUBBER CO., LTD.
  • Hankook Tire & Technology Co., Ltd
  • Toyo Tire Corporation
  • Cooper Tire & Rubber Company