Automotive Tire Market 2030: Navigating Regulatory Changes

Automotive Tire Market Summary

In 2024, the global automotive tire market was valued at USD 401.8 million and is expected to reach USD 620.3 million by 2030. This growth represents a CAGR of 6.3% from 2025 to 2030. The expansion is primarily driven by the rising production and sales of vehicles, coupled with increasing demand for retreaded tires. As the global vehicle fleet grows, the requirement for both original equipment and replacement tires rises accordingly.

Retreaded tires continue to gain popularity, especially among commercial and fleet vehicles, due to their cost-effectiveness and environmental benefits. Their growing adoption supports the overall market expansion, as both new and retreaded tires are essential to satisfying the needs of the evolving automotive industry.

Additionally, the growing incorporation of smart technologies and the expanding electric vehicle (EV) segment are key factors shaping the future of the tire market. Smart tires, featuring sensors that monitor pressure, wear, and temperature, are enhancing vehicle safety and performance, thereby increasing demand for high-tech tire solutions. The rise of EVs is also creating a need for specialized tires that can support higher torque and weight characteristics unique to electric powertrains. These technological advancements are pushing tire manufacturers to innovate, leading to increased demand for both advanced and EV-specific tires.

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Key Market Trends & Insights

• Asia Pacific emerged as the leading regional market in 2024.
• The U.S. maintained a strong position in the global tire market in 2024.
• The radial tire segment captured a significant share by type.
• Passenger cars represented the dominant application category.
• The all-season tire segment held a substantial share by season type.

Market Size & Forecast

• 2024 Market Size: USD 401.8 Million
• 2030 Projected Market Size: USD 620.3 Million
• CAGR (2025–2030): 6.3%
• Largest Market (2024): Asia Pacific
• Fastest Growing Market: North America

Key Automotive Tire Company Insights

Several major companies play a leading role in the global automotive tire market. Notable names include:

• Continental Group: Offers premium tires for cars, trucks, and motorcycles, as well as cutting-edge automotive technologies in safety, autonomous systems, and connectivity.
• Cooper & Rubber Company (now part of Goodyear): Known for a broad range of high-performance replacement tires for both passenger and commercial vehicles.

Leading Automotive Tire Companies

The companies listed below are key players that influence market dynamics and hold significant market share:

• Continental Group
• Cooper & Rubber Company
• Hankook Co. Ltd.
• Goodyear & Rubber Company
• Michelin Group
• Pirelli
• Sumitomo Rubber Industries Ltd.
• The Bridgestone Group
• Toyo & Rubber Co Ltd.
• Yokohama Rubber Co. Ltd.

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Conclusion

The global automotive tire market is on a strong upward trajectory, with projections indicating a rise from USD 401.8 million in 2024 to USD 620.3 million by 2030, fueled by growing vehicle numbers, rising demand for retreaded and smart tires, and the rapid expansion of the electric vehicle sector. With technological innovation and sustainability trends shaping the future, the market is set for significant transformation. Leading tire manufacturers are well-positioned to capitalize on these opportunities through advancements in product offerings tailored to emerging consumer and industry needs.