Automotive Tyres and Wheels Market Trends and Analysis by Technology, Companies and Forecast to 2028

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Automotive Tyres and Wheels Market Overview

The automotive tires and wheels market size is estimated at 911.0 million units in 2023. The market will grow at a CAGR of more than 2% during 2023-2028. The future tire market is expected to be driven by ultra-high-performance (UHP) tires. The Asia-Pacific region had a significant share in the automotive tires and wheels market.

Automotive Tyres and Wheels Market Outlook 2023-2028 (Million Units)

Automotive Tyres and Wheels Market Outlook 2023-2028 (Million Units)

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The automotive tires and wheels market research report provides a comprehensive overview of the market trends and drivers. The report also provides a detailed overview of technological developments and innovations, PESTER analysis, and leading component suppliers at a global and regional level. Furthermore, it helps evaluate strategic initiatives by market players and their recent product innovations. The report also provides an overview of patent filings across sectors; regions; countries; and top applicants.

Market Size (2023) 911.0 million units
CAGR (2023-2028) >2%
Key Segments TPMS (Tyre Pressure Monitoring Systems), Tyres, Wheels – Aluminum, Wheels – Steel, and Wheels – Spare
Key Regions Asia-Pacific, Europe, North America, South America, and MEA
Key Companies Goodyear, Bridgestone, Michelin, Continental, Pirelli, and Others
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Automotive Tires and wheels Market Segmentation by Region

In 2023, Asia-Pacific emerged as the largest growth-contributing region of the automotive tires and wheels market.

The key regions in the tires and wheels market are Asia-Pacific, Europe, North America, South America, and MEA.

Automotive production is expected to further increase in the coming years, which in turn will propel growth for tires and wheels. The Asia Pacific region is a major hub for automotive production, with countries such as China, India, Japan, and South Korea being prominent players. As the production of vehicles continues to rise in these countries, the demand for tires and wheels also increases. The growing middle class and increasing disposable income in countries like China and India have led to a higher demand for cars. This, in turn, has driven the demand for automotive tires and wheels in the region.

Automotive Tires and Wheels Market Analysis by Region, 2023 (%)
Automotive Tires and Wheels Market Analysis by Region, 2023 (%)
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Automotive Tyres and Wheels Market – Competitive Landscape

In 2021, Goodyear leads the global tires and wheels market with the largest market share.

A few of the leading companies in the automotive tires and wheels market are:

  • Goodyear
  • Bridgestone
  • Michelin
  • Continental

Goodyear has taken a few strategic actions to uplift the growth of the automotive tires market. For instance, Goodyear opened a manufacturing facility in Dudelange, Luxembourg in May 2022, following a significant investment in its Industry 4.0 digital manufacturing process.

Automotive Tires and Wheels Market Analysis by Companies, 2021 (%)

Automotive Tyres and Wheels Market Analysis by Companies, 2021 (%)

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Automotive Tyres and Wheels Market Segmentation by Sectors

In 2023, tyres garnered the largest market share, followed by wheels-aluminium, and wheels-steel.

The key sectors in the tyres and wheels market are –

  • Tyres
  • Wheels-Aluminium
  • Wheels-Steel
  • Wheels-Spare
  • Tyre Pressure Monitoring Systems (TPMS)

The world of tires and wheels is currently dominated using pneumatic tires. However, exciting developments are being made in non-pneumatic tire technology that uses unconventional polymers like polyurethanes and thermoplastic elastomers to create innovative tire designs for better durability and sustainability. Some examples of new tire concepts include Michelin’s Uptis airless tire, Goodyear’s Assurance WeatherReady EV tire, and Yokohama’s winter tire for passenger vehicles.

Tyres and Wheels Market Analysis by Sectors, 2023 (%)

Tyres and Wheels Market Analysis by Sectors, 2023 (%)

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Automotive Tyres and Wheels Market – Latest Developments

A few of the latest developments in the automotive tires and wheels market are:

  • In October 2023, Toyo Tires unveiled the new Open Country AT III tire. The tire is made for light trucks and SUVs, and it has several technologies, such a novel tread pattern and chip- and cut-resistant compound, to enhance performance in all-terrain situations.
  • In September 2023, Pirelli introduced the new Scorpion Verde All Season SF tire. A low-rolling-resistance tread composition and a lightweight design are only a couple of the technologies that the tire, which is intended for electric SUVs, includes to increase performance and range.

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Key Segments Covered in this Report.

Automotive Tyres and Wheels Sector Outlook (Volume, Million Units, 2018-2028)

  • Tyres
  • Wheels-Aluminium
  • Wheels-Steel
  • Wheels-Spare
  • TPMS

Automotive Tyres and Wheels Regional Outlook (Volume, Million Units, 2018-2028)

  • Asia-Pacific
  • Europe
  • North America
  • South America
  • MEA

Reasons to Buy

  • This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities for growth within the sector in the region.
  • The report provides a detailed analysis of the regions and competitive landscape that can help companies gain insight into the region-specific nuances.
  • The report provides key trends that drive customer choice and the future opportunities that can be explored in the region, which can help companies in revenue expansion.
  • The report helps gain competitive intelligence about leading component suppliers in the sector in the region with information about their market share and growth rates.

Goodyear
Bridgestone
Michelin
Continental
Pirelli

Table of Contents

  • 1. Executive Summary
  • 2. Main Trends and Drivers
  • 2.1 Trends
  • 2.2 Drivers
  • 3 Technologies and Innovations
  • 4 PESTER Analysis
  • 5 Sector Forecast

  • 5.1 Sector Forecast – Global Tyres and wheels Volumes
  • 5.2 TPMS (Tyre Pressure Monitoring Systems) – Global Volumes
  • 5.3 Tyres – Global Volumes
  • 5.4 Wheels – Aluminium – Global Volumes
  • 5.5 Wheels – Steel – Global Volumes
  • 5.6 Wheels – Spare – Global Volumes
  • 5.7 Asia-Pacific Market Growth Analysis
  • 5.8 European Market Growth Analysis
  • 5.9 North American Market Growth Analysis
  • 5.10 South America Market Growth Analysis
  • 5.11 MEA Market Growth Analysis
  • 6 Latest Developments
  • 7 Key Companies

  • 7.1 Top companies by Market Share – Tyres
  • 8 Patent Analysis
  • 9 Appendix

Table

List of Tables

Table 1: Goodyear’s tyre-related facilities worldwide, 2016

Table 2: Market volumes of tyres fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 3: Market volumes of TPMS fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 4: Market fitment/penetration rates of aluminium wheels fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 5: Market volumes of aluminium wheels fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 6: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in China, 2016-2036, (% share)

Table 7: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Central Europe, 2016-2036, (% share)

Table 8: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Western Europe, 2016-2036, (% share)

Table 9: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in India, 2016-2036, (% share)

Table 10: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Iran, 2016-2036, (% share)

Table 11: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Japan, 2016-2036, (% share)

Table 12: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Korea, 2016-2036, (% share)

Table 13: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Mercosur, 2016-2036, (% share)

Table 14: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in North America, 2016-2036, (% share)

Table 15: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Other Asia Pacific, 2016-2036, (% share)

Table 16: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Russia, 2016-2036, (% share)

Table 17: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in South Africa, 2016-2036, (% share)

Table 18: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles in Thailand, 2016-2036, (% share)

Table 19: Market fitment/penetration rates of aluminium/steel wheels fitted to newly-assembled light vehicles worldwide, 2016-2036, (% share)

Table 20: Market fitment/penetration rates of steel wheels fitted to newly-assembled light vehicles, 2016-2036, (%)

Table 21: Market volumes of steel wheels fitted to newly-assembled light vehicles, 2016-2036, (‘000s units)

Table 22: Global manufacturer market shares of OE and replacement tyres for passenger cars and light trucks, 2010-2021, % of market value

Table 23: Asia-Pacific manufacturer market shares of OE tyres for passenger cars and light trucks, 2010-2021, % of volume

Table 24: Korean manufacturer market shares of OE tyres for passenger cars and light trucks, 2010-2021, % of volume

Table 25: Korean manufacturer market shares of replacement tyres for passenger cars and light trucks, 2010-2021, % of volume

Table 26: Chinese manufacturer market shares of OE tyres for passenger cars and light trucks, 2011-2021, % of volume

Table 27: European manufacturer market shares of OE and replacement tyres for passenger cars and light trucks, 2010-2021, % of volume

Table 28: European manufacturer market shares of OE and replacement tyres for medium- and heavy-duty trucks, 2010-2021, % of volume

Table 29: North American manufacturer market shares of OE and replacement tyres for passenger cars and light trucks, 2010-2021, % of volume

Table 30: North American manufacturer market shares of OE and replacement tyres for commercial vehicles, 2010-2021, % of volume

Table 31: Tyre size trends over six generations of VW Golf

Table 32: European OE market shares for aluminium wheels for passenger cars and light trucks, 2015-18, % of volume

Table 33: European OE market shares for steel wheels for passenger cars and light trucks, 2015-17, % of volume

Table 34: Global (Triad) OE market shares of aluminium wheels for passenger cars and light trucks, 2015-18 (% of volume)

Table 35: Global (Triad) OE market shares of steel wheels for passenger cars and light trucks, 2015-17 (% of volume)

Table 36: Japanese OE market shares of aluminium wheels for passenger cars and light trucks, 2015-18 (% of volume)

Table 37: Japan OE market shares of steel wheels for passenger cars and light trucks, 2015-17 (% of volume)

Table 38: North American OE market shares of aluminium wheels for passenger cars and light trucks, 2015-18, % of volume

Table 39: North American OE market shares of steel wheels for passenger cars and light trucks, 2015-17, % of volume

Table 40: Alternative materials: potential weight saving versus cost

Figures

List of Figures

Figure 1: Snowy tyre

Figure 2: Ferrari 458 Italia

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