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Global Tyre Market: By Design: Radial, Bias; By End Use: OEM, Replacement; By Vehicle Type; By Distribution Channel; By Season; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Trade Data Analysis; Price Analysis; Manufacturing Process; Competitive Landscape; Industry Events and Developments
Global Tyre Market Outlook
In 2020, the global demand for tyres reached nearly 3378.96 million units, growing at a CAGR of 4% between 2016 and 2020. It is expected to grow at an almost similar rate between 2021-2026, growing at CAGR of 4%, attaining a volume of 4111.02 million units by 2026.
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The global tyre market is being driven by the rising demand of the product across the world. In 2017, China was the leading tyre market accounting for almost 49% of the global tyre industry. China was followed by Europe, United States, India, and Japan as some of the significant tyre markets in the world. China’ s market is aided by its robustly growing car industry. It is one of the largest car markets increasing its share by almost 21% since 2007 and accounted for 30% of the global car industry in 2016. A strong GDP growth and a growing demand for cars in the emerging middle class along with a tax break implemented for cars with smaller engines are driving the increase in car production in China.
The tyre industry in India is also projected to be driven by the domestic demand for automobiles. India is expected to become the third largest market for automobiles by 2020. The automobiles industry will also be one of the fastest growing industries in the country. All these factors will aid the growth of the tyre industry in India, with its demand projected to grow between 7% to 9% in the forecast period. The goods and service tax (GST), increased infrastructure activities, and a growing demand are driving the replacement tyre industry in India. The India tyre industry is also being aided by the increasing tyre exports due to a rise in demand from overseas in 2017. India accounted for more than 5% of the global tyre market in 2017.
Properties and Applications
Tyre is a thick ring of rubber that is usually inflated and placed over the outer edge or the rim of the vehicle wheel. It provides traction and allows the vehicle to travel over the road more easily. While most tyres are made of natural rubber, tyres have also started to incorporate materials like synthetic rubber, steel wires, fabric, and carbon black.
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The tyre market is bifurcated on the basis of design into:
- Radial
- Bias
The industry is bifurcated on the basis of end use into:
- OEM
- Replacement
The industry is divided on the basis of vehicle type into:
- Passenger Car
- Light Commercial Vehicle
- Medium and Heavy Commercial Vehicle
- Two Wheelers
- Three Wheelers
- Off-The-Road
On the basis of distribution channel, the industry is bifurcated into:
- Online
- Offline
On the basis of season, the industry is divided into:
- All Season Tyre
- Winter Tyre
- Summer Tyre
The EMR report analyses the tyre industry in North America, Europe, Latin America, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The global tyre market is being driven by the expansion in the global production and sales of vehicles. Rising incomes in emerging economies will lead to an increase in the number of vehicles in use, thus, spurring the growth of the tyre industry. The growing middle class in countries undergoing industrialisation will also aid the tyre market with an increasing vehicle ownership leading to the rising demand for light-weight vehicles tyres. There has been a rise in the production of tyres due to the declining prices of rubber. The replacement tyre industry, in particular, is estimated to see healthy growth in the coming years due to higher profit margins.
Segment-wise, the global tyre market was led by the OEM (original equipment manufacturer) tyres, which accounted for more than half of the market in 2018. Globally, tyres find their maximum utility in passenger cars and light trucks. Passenger car/light trucks were followed by applications in commercial vehicles like trucks and off-highway vehicles.
The rising demand in the Asia market is projected to drive the tyre industry in the coming year. The Asia tyre industry is not just being driven by the increase in the automobile industry but also by the reduced cost of production. The reduced production costs are due to the lower labour costs and lesser natural rubber content (with more synthetic rubber content) in tyres. With rising automotive production in Latin America and Middle East regions, it is expected to witness robust growth in the two regions.
Competitive Landscape
The report gives a detailed analysis of the following key players in the global tyre market, looking into their capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions:
- Michelin Group
- Goodyear Tire & Rubber Company
- Bridgestone Corporation
- Pirelli & C. S.P.A
- Sumitomo Rubber Industries, Ltd.
- Continental Corporation
- Hankook Tire & Technology Co.,Ltd
- Others
The EMR report provides a SWOT analysis as well as an analysis of Porter’s Five Forces.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2020 |
| Historical Period | 2016-2020 |
| Forecast Period | 2021-2026 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Design, End Use, Vehicle Type, Distribution Channel, Season, Region |
| Breakup by Design | Radial, Bias |
| Breakup by End Use | OEM, Replacement |
| Breakup by Vehicle Type | Passenger Car, Light Commercial Vehicle, Medium and Heavy Commercial Vehicle, Two Wheelers, Three Wheelers, Off-The-Road |
| Breakup by Distribution Channel | Online, Offline |
| Breakup by Season | All Season Tyre, Winter Tyre, Summer Tyre |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand |
| Trade Data Analysis | Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume |
| Price Analysis | Historical and Forecast Price Trends-Regional |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Michelin Group, Goodyear Tire & Rubber Company, Bridgestone Corporation, Pirelli & C. S.P.A, Sumitomo Rubber Industries, Ltd., Continental Corporation, Hankook Tire & Technology Co.,Ltd, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Tyre Market Analysis
8.1 Key Industry Highlights
8.2 Global Tyre Historical Market (2016-2020)
8.3 Global Tyre Market Forecast (2021-2026)
8.4 Global Tyre Market by Design
8.4.1 Radial
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 Bias
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.5 Global Tyre Market by End Use
8.5.1 OEM
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Replacement
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.6 Global Tyre Market by Vehicle Type
8.6.1 Passenger Car
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2016-2020)
8.6.1.3 Forecast Trend (2021-2026)
8.6.1.4 Breakup by Rim Size
8.6.1.5 Breakup by Tire Size
8.6.2 Light Commercial Vehicle
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2016-2020)
8.6.2.3 Forecast Trend (2021-2026)
8.6.2.4 Breakup by Rim Size
8.6.2.5 Breakup by Tire Size
8.6.3 Medium and Heavy Commercial Vehicle
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2016-2020)
8.6.3.3 Forecast Trend (2021-2026)
8.6.3.4 Breakup by Rim Size
8.6.3.5 Breakup by Tire Size
8.6.4 Two Wheelers
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2016-2020)
8.6.4.3 Forecast Trend (2021-2026)
8.6.4.4 Breakup by Rim Size
8.6.4.5 Breakup by Tire Size
8.6.5 Three Wheelers
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2016-2020)
8.6.5.3 Forecast Trend (2021-2026)
8.6.5.4 Breakup by Rim Size
8.6.5.5 Breakup by Tire Size
8.6.6 Off-The-Road
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2016-2020)
8.6.6.3 Forecast Trend (2021-2026)
8.6.6.4 Breakup by Rim Size
8.6.6.5 Breakup by Tire Size
8.7 Global Tyre Market by Distribution Channel
8.7.1 Online
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2016-2020)
8.7.1.3 Forecast Trend (2021-2026)
8.7.2 Offline
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2016-2020)
8.7.2.3 Forecast Trend (2021-2026)
8.8 Global Tyre Market by Season
8.8.1 All Season Tyre
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2016-2020)
8.8.1.3 Forecast Trend (2021-2026)
8.8.2 Winter Tyre
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2016-2020)
8.8.2.3 Forecast Trend (2021-2026)
8.8.3 Summer Tyre
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2016-2020)
8.8.3.3 Forecast Trend (2021-2026)
8.9 Global Tyre Market by Region
8.9.1 Market Share
8.9.1.1 North America
8.9.1.2 Europe
8.9.1.3 Asia Pacific
8.9.1.4 Latin America
8.9.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Spain
9.2.3.6 Russia
9.2.3.7 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 Indonesia
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Turkey
9.5.3.4 Iran
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis (HS Code - 4012)
12.1 Major Importing Countries
12.1.1 By Volume
12.1.2 By Value
12.2 Major Exporting Countries
12.2.1 By Volume
12.2.2 By Value
13 Price Analysis
13.1 North America Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.2 Europe Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.3 Asia Pacific Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.4 Latin America Historical Price Trends (2016-2020) and Forecast (2021-2026)
13.5 Middle East and Africa Historical Price Trends (2016-2020) and Forecast (2021-2026)
14 Manufacturing Process
14.1 Detailed Process Flow
14.2 Operations Involved
14.3 Mass Balance
15 Project Details and Cost Analysis
15.1 Land, Location and Site Development
15.2 Construction
15.3 Plant Layout
15.4 Plant Machinery
15.5 Raw Material Requirement
15.6 Packaging
15.7 Transportation
15.8 Utilities
15.9 Manpower
15.10 Other Capital Investment
16 Loans and Financial Assistance
17 Project Economics
17.1 Capital Cost of Project
17.2 Techno-Economic Parameters
17.3 Product Pricing and Margins
17.4 Taxation and Depreciation
17.5 Income Projections
17.6 Expenditure Projections
17.7 Financial Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Key Players’ Market Share
18.3 Company Profiles
18.3.1 Michelin Group
18.3.1.1 Company Overview
18.3.1.2 Product Portfolio
18.3.1.3 Demographic Reach and Achievements
18.3.1.4 Financial Summary
18.3.1.5 Certifications
18.3.2 Goodyear Tire & Rubber Company.
18.3.2.1 Company Overview
18.3.2.2 Product Portfolio
18.3.2.3 Demographic Reach and Achievements
18.3.2.4 Financial Summary
18.3.2.5 Certifications
18.3.3 Bridgestone Corporation
18.3.3.1 Company Overview
18.3.3.2 Product Portfolio
18.3.3.3 Demographic Reach and Achievements
18.3.3.4 Financial Summary
18.3.3.5 Certifications
18.3.4 Pirelli & C. S.P.A
18.3.4.1 Company Overview
18.3.4.2 Product Portfolio
18.3.4.3 Demographic Reach and Achievements
18.3.4.4 Financial Summary
18.3.4.5 Certifications
18.3.5 Sumitomo Rubber Industries, Ltd.
18.3.5.1 Company Overview
18.3.5.2 Product Portfolio
18.3.5.3 Demographic Reach and Achievements
18.3.5.4 Financial Summary
18.3.5.5 Certifications
18.3.6 Continental Corporation
18.3.6.1 Company Overview
18.3.6.2 Product Portfolio
18.3.6.3 Demographic Reach and Achievements
18.3.6.4 Financial Summary
18.3.6.5 Certifications
18.3.7 Hankook Tire & Technology Co.,Ltd
18.3.7.1 Company Overview
18.3.7.2 Product Portfolio
18.3.7.3 Demographic Reach and Achievements
18.3.7.4 Financial Summary
18.3.7.5 Certifications
18.3.8 Others
19 Industry Events and Developments
List of Figures and Tables
1. Global Tyre Market: Key Industry Highlights, 2016 and 2026
2. Global Tyre Historical Market: Breakup by Design (Million Units), 2016-2020
3. Global Tyre Market Forecast: Breakup by Design (Million Units), 2021-2026
4. Global Tyre Historical Market: Breakup by End Use (Million Units), 2016-2020
5. Global Tyre Market Forecast: Breakup by End Use (Million Units), 2021-2026
6. Global Tyre Historical Market: Breakup by Vehicle Type (Million Units), 2016-2020
7. Global Tyre Market Forecast: Breakup by Vehicle Type (Million Units), 2021-2026
8. Global Tyre Historical Market: Breakup by Distribution Channel (Million Units), 2016-2020
9. Global Tyre Market Forecast: Breakup by Distribution Channel (Million Units), 2021-2026
10. Global Tyre Historical Market: Breakup by Season (Million Units), 2016-2020
11. Global Tyre Market Forecast: Breakup by Season (Million Units), 2021-2026
12. Global Tyre Historical Market: Breakup by Region (Million Units), 2016-2020
13. Global Tyre Market Forecast: Breakup by Region (Million Units), 2021-2026
14. North America Tyre Historical Market: Breakup by Country (Million Units), 2016-2020
15. North America Tyre Market Forecast: Breakup by Country (Million Units), 2021-2026
16. Europe Tyre Historical Market: Breakup by Country (Million Units), 2016-2020
17. Europe Tyre Market Forecast: Breakup by Country (Million Units), 2021-2026
18. Asia Pacific Tyre Historical Market: Breakup by Country (Million Units), 2016-2020
19. Asia Pacific Tyre Market Forecast: Breakup by Country (Million Units), 2021-2026
20. Latin America Tyre Historical Market: Breakup by Country (Million Units), 2016-2020
21. Latin America Tyre Market Forecast: Breakup by Country (Million Units), 2021-2026
22. Middle East and Africa Tyre Historical Market: Breakup by Country (Million Units), 2016-2020
23. Middle East and Africa Tyre Market Forecast: Breakup by Country (Million Units), 2021-2026
24. Major Importing Countries by Volume (2020)
25. Major Exporting Countries by Volume (2020)
26. Major Importing Countries by Value (2020)
27. Major Exporting Countries by Value (2020)
28. North America Historical Price Trends and Forecast 2016-2026
29. Europe Historical Price Trends and Forecast 2016-2026
30. Asia Pacific Historical Price Trends and Forecast 2016-2026
31. Latin America Historical Price Trends and Forecast 2016-2026
32. Middle East and Africa Historical Price Trends and Forecast 2016-2026
33. Global Tyre Market Structure
Key Questions Answered in the Report
In 2020, the global tyre market attained a volume of nearly 3378.96 million units.
The market is projected to grow at a CAGR of 4% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about 4111.02 million units by 2026.
The major drivers of the industry such as rising disposable incomes, increasing population, globalisation and industrialisation, rising demand from the developing regions, and growing technological advancements are expected to aid the market growth.
The key market trend guiding the growth of the tyre market include the rising automotive production globally.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Radial and bias are the major design segments of the product in the industry.
OEM and replacement are the major end uses of the product in the industry.
Passenger car, light commercial vehicle, medium and heavy commercial vehicle, two wheelers, three wheelers, and off-the-road are the significant vehicle types of tyre market.
Online and offline are the major distribution channels of industry.
All season, winter, and summer tyres are the significant seasons of industry.
The major players in the industry are Michelin Group, Goodyear Tire & Rubber Company, Bridgestone Corporation, Pirelli & C. S.P.A, Sumitomo Rubber Industries, Ltd., Continental Corporation, and Hankook Tire & Technology Co.,Ltd, among others.
Analyst Review
The global tyre market attained a volume of 3378.96 million units in 2020 driven by growing demand from the developing regions and rising technological advancements. The market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 4%. The tyre market is projected to reach 4111.02 million units by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its end uses, the global tyre market can be segmented into OEM and replacement. Based on design, the industry is divided into radial and bias. On the basis of vehicle type, the industry is divided into passenger car, light commercial vehicle, medium and heavy commercial vehicle, two wheelers, three wheelers, and off-the-road. Based on distribution channel, the industry is segmented into online and offline. On the basis of seasons, the industry is divided into all season, winter, and summer tyre. The major regional markets for tyres are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Michelin Group, Goodyear Tire & Rubber Company, Bridgestone Corporation, Pirelli & C. S.P.A, Sumitomo Rubber Industries, Ltd., Continental Corporation, Hankook Tire & Technology Co.,Ltd, and others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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