In terms of revenue, the global automotive tire market was valued at US$ 233.15 million market million in 2017 and is projected to reach US$ 306.44 million by 2025; it is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2025.

Market Overview:

Pertaining to the fact of acceleration manufacturing, construction, logistics, mining, education, and hospitality among others plays a significant role in the growth of automotive industry. These industries are driven by increasing population which is further expected to boost the demand for automotive and related accessories. With a rise in disposable income, and standard of living, demand for automotive has substantially raised which has increased the production of automotive.

The global automotive tire market is segmented on the basis of vehicle type which is fragmented into passenger cars, light commercial, and heavy commercial vehicles. The passenger car is leading the market for automotive tire followed by heavy commercial vehicle and light commercial vehicle. In a current scenario, passenger cars is having a high market share owing to the fact of high usage among the individuals and other users. However, light and heavy commercial vehicles is growing at a highest CAGR and is anticipated to dominate the market by 2025. In addition to this, with an increase in the disposable income, demand for passenger cars is rising due to which passenger car holds a dominant position in the market.

Automotive tire market operates in a highly fragmented industry with large number of global players capturing market place. Key players in the market are collaborating with other providers of automotive tire to gain high market share. Some of the key players operating in the automotive tire market includes Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Michelin, Pirelli & C. S.P.A, Dunlop India Limited, Yokohama Rubber Co. Ltd., Apollo Tires Ltd., MRF Tires, and Hankook Tire among others.

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The report segments the global automotive tire market as follows:

Global Automotive Tire Market – By Tire Type

• Bias
• Radial

Global Automotive Tire Market – By Vehicle Type

• Passenger Car
• Light Commercial Vehicle
• Heavy Commercial Vehicle

Global Automotive Tire Market – By Distribution Channel

• OEMs
• Aftermarket

Global Automotive Tire Market – By Geography

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • K.
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Rest of APAC
• Middle East and Africa (MEA)
  • South Africa
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Rest of SAM

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Automotive Tire Market to 2025 - Global Analysis and Forecasts by Tire Type (Bias and Radial); Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle); and Distribution Channel (OEMs and Aftermarket)

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