Michelin held **** percent of the global tire market in 2022, making it the largest tire manufacturer worldwide in terms of sales. Bridgestone ranked second with a share of **** percent of the global tire market.

Goodyear was the top brand for replacement consumer tires in the United States in 2022. Goodyear held a market share of **** percent in the passenger vehicle segment and **** percent in the light truck segment.

Tire Market size was valued at around USD 264.68 billion in 2024 and is projected to reach USD 394.55 billion by 2030, at 6.88% CAGR (2025-30).

The tire industry has faced numerous challenges, including supply chain disruptions, rising imports and trade wars. In 2019, the Department of Commerce (DOC) introduced substantial tariffs on truck, bus and radial (TBR) tires imported from China, ranging from 23.9% to 66.3% for anti-subsidy tariffs and a 22.6% standard tariff. The sector experienced increased support due to these measures, which incentivized domestic manufacturing by making imports more costly. Southeast Asia, the predominant supplier of natural rubber, saw its production affected by weather phenomena like El Niño, which drove up rubber prices because of depressed rubber output. The period also witnessed a shift in consumer behavior towards more affordable tire options, driven by a cooling labor market and heightened borrowing costs experienced throughout mid-2025. However, since mid-2025, as economic uncertainty decreased and the rate dropped on October 29th, 2025, the tire manufacturing industry has experienced an influx of demand. Currently, revenue is expected to grow at a five-year CAGR of 5.2%, reaching $26.8 billion by the end of 2025, with an expansion of 0.9% in 2025 alone. The ongoing tariffs remain a critical shield for US manufacturers against foreign competition. While these measures continue to support domestic production, the shift in manufacturing from China to other Asian countries, such as Thailand, highlights a workaround for foreign manufacturers. Despite domestic manufacturers' efforts to diversify and develop premium tires, they struggle against volatile rubber costs exacerbated by global trade disruptions such as overcapacity at the Panama Canal, tensions in the Red Sea, ongoing global conflicts, tariff and trade negotiations and ongoing flooding experinced southern Thailand, suppressing rubber production, which threaten the stability of the supply chain and make input components less accessible, pushing up prices and pressuring profit. Domestic manufacturers will need to navigate price volatility in raw materials, such as rubber, while enhancing production capabilities and efficiency through vertical integration to mitigate risks. The industry will likely see a continuation of competitive pricing pressures as both domestic enterprises and foreign imports vie for market share. Still, advancements in technology, particularly in precision farming and EV tires, could drive innovation and open new revenue streams. As vehicle sales pick up and labor markets stabilize, premium tire sales are set to recover. Global trade, especially with Canada and Mexico, will remain vital, while continuous research and development could potentially unlock new opportunities in expanding EV markets and improving agricultural yields through smarter tire technology. As economic conditions continue to improve, with further rate cuts and decreasing economic uncertainty, industry revenue is expected to expand at a five-year CAGR of 1.7%, reaching an estimated $29.1 billion by the end of 2030.

The Forklift Tire Manufacturers Market Report and is Segmented by Type (Pneumatic, Solid, and Polyurethane Forklift Tires), Sales Channel (OEM and Aftermarket), and Geography (North America, Europe, Asia-Pacific, and the Rest of the World). It Offers Market Sizes and Forecasts in Value (USD) for all the Above Segments.

The Automotive Tire Market Report is Segmented by Tire Type (Summer, Winter, and More), Tire Design (Radial, Bias, and More), Vehicle Type (Passenger Cars and More), Application (On-Road and Off-Road), End User (OEM and Aftermarket) Rim-Size (Less Than 15 Inches and More), Propulsion (ICE, BEV, and More) and Geography. The Market Forecasts are Provided in Terms of Value (USD) and Volume (Units).

The global wheel loader tire market is experiencing robust growth, driven by the increasing demand for construction and infrastructure development worldwide. The market, estimated at $2.5 billion in 2025, is projected to expand at a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2033, reaching approximately $3.8 billion by 2033. This growth is fueled by several factors, including rising urbanization, expansion of mining activities, and a surge in infrastructure projects across emerging economies. Key trends shaping the market include the adoption of advanced tire technologies focused on improved fuel efficiency, extended lifespan, and enhanced traction in diverse terrains. Manufacturers are also increasingly focusing on developing sustainable tire solutions to meet environmental regulations and growing consumer demand for eco-friendly products. The competitive landscape comprises both established players like Continental and Michelin, and specialized manufacturers such as Apexway and Camso, each vying for market share through innovation and strategic partnerships. Challenges facing the industry include fluctuating raw material prices, stringent emission norms, and increasing competition from substitute materials. However, the overall market outlook remains positive, supported by the long-term growth trajectory of the construction and mining sectors. The segmentation of the wheel loader tire market is primarily based on tire type (radial, bias), size, application (construction, mining, etc.), and region. While precise regional market share data is unavailable, North America and Europe currently hold significant shares, driven by robust construction activity and the presence of major tire manufacturers. Asia-Pacific, however, is expected to witness the fastest growth in the coming years due to substantial infrastructure development and industrialization in countries like China and India. Key players are focusing on expanding their manufacturing footprint and distribution networks in these high-growth regions to capitalize on the burgeoning demand. Technological advancements, such as the development of solid and airless tires, are also expected to disrupt the market in the long run, offering potential alternatives to traditional pneumatic tires. The continued evolution of tire technology, coupled with growing infrastructure spending globally, positions the wheel loader tire market for sustained and substantial growth in the forecast period.

The global automotive tire market size is projected to grow from USD 144.37 billion in 2025 to USD 202.19 billion by 2033, exhibiting a CAGR of 4.3%.
Report Scope:

Report Metric	Details
Market Size in 2024	USD 138.42 Billion
Market Size in 2025	USD 144.37 Billion
Market Size in 2033	USD 202.19 Billion
CAGR	4.3% (2025-2033)
Base Year for Estimation	2024
Historical Data	2021-2023
Forecast Period	2025-2033
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered	By Season Tire Type,By Rim size,By Vehicle Type,By Distribution Channel Type,By Region.
Geographies Covered	North America, Europe, APAC, Middle East and Africa, LATAM,
Countries Covered	U.S., Canada, U.K., Germany, France, Spain, Italy, Russia, Nordic, Benelux, China, Korea, Japan, India, Australia, Taiwan, South East Asia, UAE, Turkey, Saudi Arabia, South Africa, Egypt, Nigeria, Brazil, Mexico, Argentina, Chile, Colombia,

Tires Market size was valued at USD 139.98 Billion in 2023 and is projected to reach USD 180.52 Billion by 2030, growing at a CAGR of 3.7% during the forecast period 2024-2030.Global Tires Market DriversThe market drivers for the Tires Market can be influenced by various factors. These may include:Sales and Production of Vehicles: The manufacture and sales of automobiles, including passenger cars, trucks, and off-road vehicles, have a significant impact on the overall demand for tyres. An increase in car sales usually results in a rise in tyre demand.Demand for Replacement Tyres: Due to wear and tear, punctures, and other damage, cars need new tyres, which drives the replacement tyre industry. The frequency of tyre replacements is influenced by economic factors, including consumer confidence and income levels.Regulatory Environment: Market dynamics and product development are influenced by regulations pertaining to tyre labelling, safety standards, and environmental considerations (such as tyre recycling and eco-friendly materials).Technological Advancements: Market growth and differentiation are driven by tyre innovations such as self-sealing tyres, run-flat tyres, and smart tyres that have sensors to monitor temperature and pressure.Prices of Raw Materials: Changes in the cost of natural rubber, synthetic rubber, and steel in particular can have an effect on the price of tyres on the market as well as the expenses associated with producing them.Weather: Seasonal variations in the weather have an impact on tyre sales. For instance, all-weather tyres are more common in areas with less drastic weather swings, yet winter tyres are more in demand in colder locations.Customer Tastes: Market trends and product offers are influenced by shifting consumer tastes, which include a move towards premium tyres for increased performance, safety, and durability.Distribution Channels: Consumer choices and market accessibility are influenced by the effectiveness and reach of distribution channels, which include online sales platforms.Competitive Landscape: The dynamics of the market and competitiveness are shaped by the existence of large tyre producers, their pricing policies, and their new product developments.

The global passenger car tires aftermarket is a substantial market, valued at $125.79 billion in 2025. While the provided CAGR is missing, a conservative estimate, considering consistent growth in the automotive sector and increasing tire replacement needs due to wear and tear, vehicle age, and changing consumer preferences (such as performance tires), would place the CAGR between 4-6% for the forecast period (2025-2033). This suggests robust market expansion, potentially reaching $180 billion to $200 billion by 2033. Growth is driven by several factors: increasing vehicle ownership, especially in developing economies, a rising preference for high-performance tires, the expanding online tire sales channels offering convenience and competitive pricing, and the increasing need for tire replacements due to road conditions and vehicle usage. Market segmentation reveals significant opportunities within specific tire sizes (17" and below, 18" and above), sales channels (online versus offline), and geographical regions. Developed markets like North America and Europe exhibit a mature yet still growing market driven by replacement demand and premium tire adoption. Emerging markets in Asia-Pacific and parts of South America display higher growth potential, fueled by rising vehicle sales and increasing disposable incomes. However, challenges exist. Fluctuations in raw material prices (rubber, synthetic materials), economic downturns affecting consumer spending, and stringent environmental regulations impacting tire production and disposal all influence market dynamics. The competitive landscape is dominated by major global players like Michelin, Bridgestone, Goodyear, and Continental, alongside several strong regional players. These established brands leverage their brand recognition, technological advancements, and extensive distribution networks to maintain market share. However, emerging tire manufacturers are progressively gaining ground through aggressive pricing and innovative product offerings.

As of April 2024, Hankook Tire took up the largest share of tire sales in South Korea, with around **** percent. It was followed by Kumho Tire with a little over ** percent. Foreign tire manufacturers such as Michelin, Continental, Bridgestone, and Pirelli were also featured on the list of leading tire companies in the country.

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Automotive Premium Tires Market Size 2024-2028

The automotive premium tires market size is forecast to increase by USD 37.39 billion at a CAGR of 11.54% between 2023 and 2028.

The market is experiencing significant growth, driven by several key trends. One of the primary factors fueling market expansion is the increasing penetration of Tire Pressure Monitoring Systems (TPMS) in truck tires. This technology enhances safety and efficiency, leading to a higher demand for premium tires. Another trend is the rising preference for environment-friendly tires, as consumers become more conscious of their carbon footprint. Price fluctuations of rubber, a crucial raw material, also impact market dynamics. Manufacturers employ advanced manufacturing technology, including synthetic rubber and elastomer grades, to produce high-performing, durable, and affordable tires. Despite these growth opportunities, the market faces challenges such as intense competition and the high cost of premium tires, which may limit market penetration among price-sensitive consumers. Overall, the market is poised for steady growth, with a focus on innovation, sustainability, and cost competitiveness.

What will be the Size of the Automotive Premium Tires Market During the Forecast Period?

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The automotive premium tire market caters to vehicle owners seeking superior performance, durability, and sustainability In their tire purchases. Premium tires offer enhanced fuel economy, convenience, and product differentiation, making them an attractive choice for both personal and commercial applications. Manufacturing technology advances continue to drive innovation, with OEMs integrating premium tires as standard equipment on new vehicles. Aftermarket sales of premium tires are also, driven by the increasing popularity of SUVs, crossover vehicles, and commercial fleet operators. Cost-effective retreaded tires provide an alternative for those seeking affordability without compromising on performance or durability. Sustainability is a growing trend In the market, with manufacturers focusing on producing eco-friendly tires using green energy and advanced materials.
Premium tires are also favored in various sectors, including motorsports events, sports, racing, and extreme terrain rallies, where superior traction and durability are essential. Operating costs remain a key consideration, with manufacturers striving to balance affordability and performance.

How is this Automotive Premium Tires Industry segmented and which is the largest segment?

The automotive premium tires industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Replacement
  OEM


Geography

  North America

    US


  APAC

    China
    Japan


  Europe

    Germany
    France


  Middle East and Africa



  South America

By End-user Insights

The replacement segment is estimated to witness significant growth during the forecast period.

The premium tires market experienced significant growth in North America and Europe, accounting for nearly 80% of sales in 2023. The replacement tire segment's expansion is primarily driven by the balance between a premium tire's performance and lifespan. Automotive premium tire manufacturers prioritize safety, comfort, and performance during design and development. These tires offer low rolling resistance, which enhances overall performance but results in faster wear and tear. Consequently, the replacement frequency for premium tires is higher than conventional tires due to their shorter lifetimes. Additionally, premium tires contribute to fuel economy and offer convenience to vehicle owners.

Commercial fleet operators and commercial vehicles, including SUVs, crossover vehicles, and construction vehicles, also utilize premium tires for their durability and cost-effectiveness In the long run. Innovative products In the tire manufacturing industry, such as radial tires and 3D printing, further enhance the market's growth.

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The Replacement segment was valued at USD 28.45 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

Europe is estimated to contribute 38% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market, specifically the US, Canada, and Mexico, holds a significant share In the market. The focus on maintenance, replacement, and fuel economy, as well as the convenience offered

The automotive tire market size is projected to grow from $264.2 billion in 2024 to $632.8 billion by 2035, representing a CAGR of 8.26% during the forecast period 2024-2035.

The global automotive tire OEM market size crossed USD 25.13 billion in 2025 and is likely to register a CAGR of over 4.6%, exceeding USD 39.4 billion revenue by 2035, driven by growing capital spending.

North America Agricultural Tires Market is segmented by Sales Channel Type (Replacement/Aftermarket and OEM), Application type (Combine Harvesters, Tractors, Trailers, Loaders, Sprayers, and Other Application Types), Tire Type (Radial Tires and Bias Tires), and Country (the United States, Canada and Rest of North America). The report offers the market size and forecast in value (USD Million) for all segments.

The global tire market, a multi-billion dollar industry, is experiencing robust growth fueled by several key factors. The increasing demand for vehicles across various sectors, including passenger cars, light trucks, commercial vehicles, and agricultural machinery, is a primary driver. Furthermore, the expanding construction and infrastructure sectors globally are significantly boosting demand for specialized tires for construction vehicles and earthmoving equipment. The rising trend towards larger vehicle sizes and higher payload capacities further contributes to market expansion. Technological advancements in tire manufacturing, such as the development of high-performance radial tires with improved fuel efficiency, longer lifespan, and enhanced safety features, are also contributing to growth. The rising adoption of electric vehicles is creating a niche market for specialized electric vehicle tires, further shaping market dynamics. However, fluctuating raw material prices, particularly natural rubber and synthetic rubber, pose a significant challenge to manufacturers, impacting profitability and potentially influencing pricing strategies. Stringent environmental regulations regarding tire disposal and manufacturing processes also present a hurdle. Segmentation within the market is substantial, with radial tires holding a significant market share over skewed tires due to their superior performance characteristics. Regionally, North America and Asia Pacific are expected to remain dominant markets, driven by strong vehicle sales and robust economic growth. However, emerging markets in regions such as South America and Africa are also presenting considerable growth opportunities. Competitive dynamics within the tire industry are intense, with numerous global and regional players vying for market share. Major players like Michelin, Bridgestone, Goodyear, and Continental maintain strong positions through established brand recognition, extensive distribution networks, and continuous innovation. However, smaller and regional players are also gaining traction through focused product offerings and competitive pricing strategies. The industry is characterized by ongoing mergers and acquisitions, strategic partnerships, and technological collaborations, indicative of the drive to expand market reach and bolster technological capabilities. The forecast for the tire market through 2033 is optimistic, projecting continued growth fueled by consistent global vehicle production and the ongoing demand for high-performance tires. Understanding the interplay of these factors—growth drivers, technological advancements, regulatory landscape, and competitive dynamics—is crucial for businesses operating in or seeking entry into this dynamic market.

Market Size statistics on the Tire Manufacturing industry in the US

The global tyre market size was valued at USD 237.50 Billion in 2024. The industry is expected to grow at a CAGR of 5.40% during the forecast period of 2025-2034 to reach a value of USD 401.86 Billion by 2034.

The tyre market growth can be attributed to the rising trend of electrification, digitisation, and sustainability. Tyre exports from India recorded a robust 11.7% growth in the first half (April-September) of FY 2024-25, touching Rs 12,131 crore in value. The sector is moving beyond traditional manufacturing towards smart, eco-conscious solutions. Notably, the EU Green Deal and India’s National Electric Mobility Mission Plan (NEMMP) 2020 have sparked strategic shifts, encouraging the adoption of green materials and electric-compatible tyre technologies. The United Kingdom’s Department for Business and Trade has also pledged EUR 360 million to support green automotive innovation, including sustainable tyre development.

OEMs and startups alike are increasingly investing on advanced material science. For example, Michelin’s bio-sourced tyres and Goodyear's airless tyre prototypes have redefined the limits of conventional design, boosting the tyre market dynamics. Meanwhile, AI-based predictive maintenance and RFID tagging are now being embedded into tyre management systems, aiming to boost fleet productivity and reduce carbon footprints.

With growing urbanisation and the boom in e-commerce logistics, demand for tyres, particularly for light and medium commercial vehicles, is spiking. Asia Pacific holds the largest market share, propelled by aggressive automotive production in China, India, and ASEAN nations. However, Latin America and Africa are catching up fast due to infrastructure development and policy support for localised manufacturing.

The global tire market size reached USD 172.98 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 270.66 Billion by 2033, exhibiting a growth rate (CAGR) of 4.70% during 2025-2033. Continuous technological advancements in the manufacturing of tires, along with the rising demand among individuals for eco-friendly and specialized tires, owing to the increasing environmental consciousness, are primarily bolstering the market growth.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 172.98 Billion
Market Forecast in 2033	USD 270.66 Billion
Market Growth Rate 2025-2033	4.70%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2025-2033. Our report has categorized the market based on design, end-use, vehicle type, distribution channel, and season.

The European automotive tire market will be valued at USD 75 billion in 2025, reflecting a 12.3% increase from its 2023 valuation of USD 68.4 billion. With a much higher forecasted value of USD 115.3 billion in 2035, the market will experience a 4.8% annual growth rate (CAGR).

Metric	Value
Estimated Market Size in 2025	USD 75 billion
Projected Market Size in 2035	USD 115.3 billion
CAGR (2025 to 2035)	4.8%

Country-wise Analysis

Country	CAGR (2025 to 2035)
Germany	6.8%
France	6.5%
Italy	6.4%
China	4.8%
Spain	6.3%
Netherland	6.6%

Competitive Outlook

Company Name	Estimated Market Share %
Michelin	20-25%
Continental AG	15-20%
Bridgestone Corporation	12-16%
Goodyear Tire & Rubber Company	10-14%
Pirelli & C. S.p.A	6-10%
Other Companies (combined)	30-40%