Rubber Tires Market: Size, Share, Trends & Forecast (2024-2029)

The market report offers a detailed analysis segmented by Tire Types (Bias, Radial, Solid); by Technologies (Connected Tires, Winter Tires); by Vehicle Type (Agriculture Tractors, Construction & Mining Vehicles, Industrial Vehicles, Light Commercial Vehicles, Motorcycles & Scooters, Passenger Vehicles, Truck & Bus); by Sales Channels (Aftermarket, Original Equipment Manufacturers (OEMs)); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook

• The Rubber Tires market is estimated to be at USD 161,264.01 Mn in 2024 and is anticipated to reach USD 195,134.17 Mn in 2029. 

• The Rubber Tires market is registering a CAGR of 3.89% during the forecast period of 2024-2029. 

• The growth of the rubber tires market is driven by increasing vehicle production, rising demand for replacement tires, and advancements in tire technology. The market includes various types of rubber tires, such as passenger car tires, commercial vehicle tires, off-road tires, and specialty tires for motorcycles, bicycles, and aircraft. 

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Ecosystem

• The participants in the global Rubber Tires industry dominate the market with their extensive product portfolios, technological expertise, and global presence.  

• These companies primarily focus on product innovation, differentiation, along with strategic partnerships and collaborations to maintain a competitive edge. 

• Several important entities in the Rubber Tires market include Apollo Tyres Ltd.; CEAT Ltd.; Continental Tyre Group Ltd.; Bridgestone Corp.; Cooper Tire & Rubber Co.; and others. 

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Findings

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 161,264.01 Mn
Market Size (2029)	USD 195,134.17 Mn
Growth Rate	3.89% CAGR from 2024 to 2029
Key Segments	Tire Types (Bias, Radial, Solid); Technologies (Connected Tires, Winter Tires); Vehicle Type (Agriculture Tractors, Construction & Mining Vehicles, Industrial Vehicles, Light Commercial Vehicles, Motorcycles & Scooters, Passenger Vehicles, Truck & Bus); Sales Channels (Aftermarket, Original Equipment Manufacturers (OEMs)); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Apollo Tyres Ltd.; CEAT Ltd.; Continental Tyre Group Ltd.; Bridgestone Corp.; Cooper Tire & Rubber Co.
Key Countries	The US; Canada; Brazil; China; India; Japan; Germany
Largest Market	Asia Pacific

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Trends

• Smart Tire Technology: The integration of smart tire technology, which includes sensors for real-time monitoring of tire pressure, temperature, and wear, is a rising trend. In 2023, Continental AG launched ContiConnect, a digital tire monitoring platform that enhances vehicle safety and performance through continuous data analysis. 

• Eco-Friendly Tires: There is an increasing emphasis on developing sustainable and eco-friendly tires made from renewable materials and incorporating recycling processes. In 2023, Goodyear introduced a tire made from 70% sustainable materials, including soybean oil and rice husk ash, as part of their commitment to environmental sustainability. 

• 3D Printing Technology: Innovations in tire manufacturing processes, such as 3D printing and automated production lines, are enhancing efficiency and product quality. In 2023, Hankook Tire invested in advanced 3D printing technology to produce prototype tires faster and more accurately, reducing time-to-market. 

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Catalysts

• Rise in Tire Replacement: The need for tire replacement due to wear and tear is a major driver for the market. In 2023, the United States Tire Manufacturers Association (USTMA) reported a 5% increase in replacement tire shipments compared to the previous year, reflecting the strong demand in the aftermarket segment. 

• Urbanization: Rapid urbanization and infrastructure development, especially in emerging economies, are boosting the demand for commercial vehicles and, thereby, rubber tires. In 2023, India’s infrastructure expansion projects, including road and highway development, led to increased demand for commercial vehicle tires. 

• Increasing Vehicle Production and Sales: The rising global production and sales of vehicles are significantly driving the demand for rubber tires. In 2023, global automotive sales rebounded strongly post-pandemic, with a notable increase in demand for both new and replacement tires. 

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Restraints

• Environmental Regulations: The tire industry faces stringent environmental regulations related to production processes, emissions, and waste disposal. Compliance with these regulations can increase costs and require significant investments in new technologies and processes. In 2023, the U.S. Environmental Protection Agency (EPA) introduced new standards for tire manufacturing, focusing on reducing volatile organic compound (VOC) emissions. 

• Tire Disposal & Recycling: The disposal and recycling of used tires pose significant environmental and logistical challenges. While recycling rates are improving, a large volume of used tires still ends up in landfills or is improperly disposed of, leading to environmental concerns. 

• Limited Minerals: The limited availability of critical minerals required for advanced tire technologies poses a challenge. In 2023, the U.S. Geological Survey reported a shortage of essential minerals like silica and carbon black, impacting production and development timelines for several tire programs. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Rubber Tires Market (2018 – 2022)         2.2.    Global Rubber Tires Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Rubber Tires Market by Tire Types                3.1.1.    Bias                3.1.2.    Radial                3.1.3.    Solid         3.2.    Global Rubber Tires Market by Technologies                3.2.1.    Connected Tires                3.2.2.    Winter Tires         3.3.    Global Rubber Tires Market by Vehicle Type                3.3.1.    Agriculture Tractors                3.3.2.    Construction & Mining Vehicles                3.3.3.    Industrial Vehicles                3.3.4.    Light Commercial Vehicles                3.3.5.    Motorcycles & Scooters                3.3.6.    Passenger Vehicles                3.3.7.    Truck & Bus         3.4.    Global Rubber Tires Market by Sales Channels                3.4.1.    Aftermarket                3.4.2.    Original Equipment Manufacturers (OEMs)  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Rubber Tires Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Apollo Tyres Ltd.         9.2.    CEAT Ltd.         9.3.    Continental Tyre Group Ltd.         9.4.    Bridgestone Corp.         9.5.    Cooper Tire & Rubber Co.         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Rubber Tires Market – FAQs 

1.  What is the current size of the rubber tires market? 

Ans. In 2024, the rubber tires market size is $161,264.01 Mn. 

2.  Who are the major vendors in the rubber tires market?  

Ans. The major vendors in the rubber tires market are Apollo Tyres Ltd.; CEAT Ltd.; Continental Tyre Group Ltd.; Bridgestone Corp.; and Cooper Tire & Rubber Co. 

3.  Which segments are covered under the rubber tires market segments analysis?  

Ans. The Rubber Tires market report offers in-depth insights into Tire Types, Technologies, Vehicle Type, Sales Channels, and Geography.