Pneumatic Tire Trends and Forecast
The future of the global pneumatic tire market looks promising with opportunities in the two wheeler, four wheeler, passenger car, and aircraft markets. The global pneumatic tire market is expected to reach an estimated $579.7 billion by 2030 with a CAGR of 7.2% from 2024 to 2030. The major drivers for this market are increased production of passenger cars, electric vehicles, and commercial vehicles leads to higher demand for tires, growing off-road vehicle popularity, and rising demand for low-rolling resistance tires that improves the vehicle fuel economy.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Pneumatic Tire by Segment
The study includes a forecast for the global pneumatic tire by type, vehicle type, and region.
Pneumatic Tire Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Replacement Tires
• OEM
Pneumatic Tire Market by Vehcile Type [Shipment Analysis by Value from 2018 to 2030]:
• Two Wheelers
• Four Wheelers
• Passenger Cars
• Aircraft
• Others
Pneumatic Tire Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Pneumatic Tire Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies pneumatic tire companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the pneumatic tire companies profiled in this report include-
• Bridgestone
• The Goodyear Tire & Rubber Company
• Continental
• The Yokohama Rubber
• Kumho Tire
• Sumitomo Rubber
• Michelin
• Hankook Tire
• Cooper Tire & Rubber Company
• Pirelli
Pneumatic Tire Market Insights
Lucintel forecasts that replacement tire will remain the larger segment over the forecast period because of the poor road conditions, vehicle overloads, and weather conditions are raising demand in the replacement industry.
Within this market, four wheeler will remain the largest segment due to growing popularity of four-wheelers as a mode of transportation across Latin America, Africa, and Asia.
North America will remain the largest region over the forecast period due to increased commercial vehicle manufacturing and sales in the region.
Features of the Global Pneumatic Tire Market
Market Size Estimates: Pneumatic tire market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Pneumatic tire market size by type, vehicle type, and region in terms of value ($B).
Regional Analysis: Pneumatic tire market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different type, vehicle type, and regions for the pneumatic tire market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the pneumatic tire market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the pneumatic tire market size?
Answer: The global pneumatic tire market is expected to reach an estimated $579.7 billion by 2030.
Q2. What is the growth forecast for pneumatic tire market?
Answer: The global pneumatic tire market is expected to grow with a CAGR of 7.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the pneumatic tire market?
Answer: The major drivers for this market are increased production of passenger cars, electric vehicles, and commercial vehicles leads to higher demand for tires, growing off-road vehicle popularity, and rising demand for low-rolling resistance tires that improves the vehicle fuel economy.
Q4. What are the major segments for pneumatic tire market?
Answer: The future of the global pneumatic tire market looks promising with opportunities in the two wheeler, four wheeler, passenger car, and aircraft markets.
Q5. Who are the key pneumatic tire market companies?
Answer: Some of the key pneumatic tire companies are as follows:
• Bridgestone
• The Goodyear Tire & Rubber Company
• Continental
• The Yokohama Rubber
• Kumho Tire
• Sumitomo Rubber
• Michelin
• Hankook Tire
• Cooper Tire & Rubber Company
• Pirelli
Q6. Which pneumatic tire market segment will be the largest in future?
Answer: Lucintel forecasts that replacement tire will remain the larger segment over the forecast period because of the poor road conditions, vehicle overloads, and weather conditions are raising demand in the replacement industry.
Q7. In pneumatic tire market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to increased commercial vehicle manufacturing and sales in the region.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the pneumatic tire market by type (replacement tires and OEM), vehicle type (two wheelers, four wheelers, passenger cars, aircraft, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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