Global Tires Market to Surpass USD XX Billion by 2030 with Robust Growth in Passenger and Commercial Segments

The global tires market is on a steady growth trajectory, projected to reach a value of USD 147.44 billion by 2025 and further climb to USD 173.93 billion by 2030, expanding at a CAGR of 3.4% over the forecast period. This growth is largely fueled by the rapid expansion of the automotive sector in emerging economies, where increasing disposable incomes and rising vehicle ownership are significantly driving tire consumption. The shift towards electric vehicles (EVs) is reshaping tire demand, creating a growing market for specially designed products that offer low rolling resistance, high durability, and enhanced efficiency. Simultaneously, large-scale infrastructure development and urbanization are spurring the need for commercial vehicle tires, particularly in logistics, construction, and public transportation.

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The rise of e-commerce and last-mile delivery has also contributed to the increasing demand for light and heavy commercial vehicle tires, while growing vehicle parc and shorter replacement cycles are boosting aftermarket sales. Overall, the tires market is set to benefit from evolving mobility trends, sustainability initiatives, and continued industrial growth.

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Regional Market Insights

Asia Pacific (44.3% market share in 2024)

Asia Pacific leads global tire sales due to rapid urbanization, automotive expansion, and infrastructure projects. Key factors include:

  • Growing demand from countries like China, India, Japan, and Southeast Asia

  • Government policies like “Made in China 2025” and “Atmanirbhar Bharat”, which boost local production

  • Strong growth in EV adoption, encouraging demand for energy-efficient and low-noise tires

China’s tire market is further bolstered by emission regulations and export-oriented strategies, while India remains one of the largest two-wheeler tire markets in the world.

North America

Tire demand is supported by strong vehicle ownership, a mature automotive aftermarket, and increasing adoption of all-season and smart tires. E-commerce continues to enhance access to a wide range of tire brands and services.

U.S. Market Highlights:

  • High EV penetration, pushing demand for low-rolling resistance tires

  • Commercial fleets and logistics sectors are driving demand for heavy-duty tires

Europe

Europe’s tire industry is evolving with the rise of smart tire technologies, especially in fleet management. Emphasis on connected and autonomous vehicles is accelerating the integration of real-time tire monitoring systems.

Germany, as a key logistics hub, sees strong demand in both commercial and replacement markets, supported by seasonal tire regulations and investments in sustainable tire technologies.

Latin America

Countries like Brazil, Mexico, and Argentina are witnessing robust growth due to increasing vehicle sales, logistics expansion, and government incentives for domestic manufacturing. Tire makers are investing in regional production to meet growing local demand.

Middle East & Africa

The region is benefiting from the expansion of the agriculture, mining, and construction sectors, especially in Africa and the GCC. Mega infrastructure projects like Saudi Arabia’s NEOM are generating demand for off-the-road (OTR) and radial commercial vehicle tires.

Distribution Channel Insights

Aftermarket (63.3% share in 2024)

The aftermarket segment dominates due to increasing vehicle ownership and natural tire wear requiring replacement. Key contributing factors include:

  • Expansion of e-commerce platforms, providing easy access and price comparison

  • Rising consumer preference for premium, high-performance, and eco-friendly replacements

  • Regulatory pressure leading to frequent tire changes for improved safety and emissions compliance

Original Equipment Manufacturer (OEM)

The OEM segment is expected to grow steadily with rising global vehicle production, especially in passenger and light commercial vehicles. Automakers are collaborating with tire manufacturers to enhance vehicle fuel efficiency, ride quality, and durability through advanced tire integration.

Key Market Drivers and Trends

Fleet Expansion and Smart Tire Innovation

The growth of fleet-based industries—including logistics, ride-hailing, and rental services—is driving demand for cost-effective, high-mileage, and retreadable tires. Fleet operators are increasingly focused on durability and long-term performance, leading to higher adoption of tires built for intensive use.

The market is also witnessing a technological revolution with the emergence of smart tires integrated with IoT-enabled sensors. These tires offer real-time data on pressure, temperature, tread wear, and road conditions, improving vehicle safety, efficiency, and predictive maintenance capabilities.

Growth in OTR and Specialty Tire Segments

Rising activity in the agriculture, construction, and mining sectors is propelling demand for off-the-road (OTR) tires, engineered to perform under extreme conditions. Tractors, harvesters, and heavy-duty vehicles require robust tire solutions, and this segment is expected to show strong growth across developing economies.

Sustainability and Technological Innovation

Tire manufacturers are embracing eco-friendly practices, including the use of bio-based materials, recycled rubber, and low-emission production technologies. Innovative developments such as self-sealing tires, airless tires, and energy-efficient designs are becoming more prominent, catering to both sustainability mandates and consumer preference for premium performance.

Government regulations in Europe and North America, aimed at improving fuel economy and reducing vehicle emissions, are also pushing automakers and tire suppliers to adopt low rolling resistance tires and enhanced tread technologies.

High-Performance & Luxury Segment Demand

Rising demand for high-performance tires is particularly strong in the luxury car and motorsports segments. Consumers are seeking products that offer enhanced grip, handling, and longevity, which is encouraging premium tire innovation and R&D investment.

Market Structure and Competitive Landscape

The global tire industry is led by a few dominant players including Bridgestone, Michelin, Goodyear, and Continental, all of which maintain strong market shares. These companies continue to invest significantly in R&D to lead in areas such as:

  • Airless and self-sealing tire technology

  • Smart tires with embedded sensors

  • Sustainable raw materials

  • Circular economy initiatives, such as tire recycling and retreading

Meanwhile, emerging players like Sumitomo Corporation and Yokohama are expanding their footprints through innovation, competitive pricing, and regional production strategies.

Vehicle Type Insights

Passenger Cars (32.6% share in 2024)

Passenger vehicles dominate the tire market, driven by:

  • Greater demand for fuel-efficient and long-lasting tires

  • Advancements in radial and tubeless tire technologies

  • Increased adoption of electric vehicles, requiring specialized tire solutions

Light Commercial Vehicles (LCVs)

Growth in e-commerce and infrastructure development is propelling demand for LCV tires. Fleet managers are seeking cost-effective, durable, and low-rolling resistance tires that meet regulatory standards while supporting high mileage.

Others

  • Two-wheelers remain a key segment in Asia-Pacific markets.

  • Heavy commercial vehicles, aircraft tires, and specialty vehicles (e.g., agricultural, mining) continue to drive niche demand.

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