Passenger car vehicle segment is primarily expected to drive the demand for automotive tire over the forecast period  

Latest market study on “Automotive Tire Market to 2025 by Tire Type (Bias and Radial); Vehicle Type (Passenger Car, Light Commercial Vehicle, and Heavy Commercial Vehicle); and Distribution Channel (OEMs and Aftermarket) - Global Analysis and Forecast”, the automotive tire market is estimated to reach US$ 306.44 Bn by 2025 from US$ 233.15 Bn in 2017. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.

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.

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
U.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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