The global automotive tire market reached USD 143.88 billion in 2024 and is anticipated to reach around USD 242.38 billion by 2034, expanding at a CAGR of 4.91% from 2025 to 2034.
Automotive Tire Market Overview
The automotive tire market is growing due to increasing global vehicle production and the rise of electric vehicles (EVs). Falling EV component costs and advancements in tire materials, such as Bridgestone’s ‘Susym’ polymer, are driving innovation. However, market growth faces challenges from volatile raw material prices and strict regulations. Despite this, integrating sensor technology in tires presents new opportunities, enhancing performance and creating a competitive edge for manufacturers.
Role of AI in Automotive Tire Market
Artificial Intelligence (AI) is significantly transforming the automotive tire industry by enhancing manufacturing processes, improving safety, and enabling the development of smart tire technologies. AI-driven systems analyze real-time data from sensors embedded in tires to monitor conditions such as pressure, temperature, and tread wear. This continuous monitoring allows for the early detection of potential issues, enabling proactive maintenance and reducing the risk of tire failures.
Key Insights – Automotive Tire Market
- Asia Pacific accounted for 41% of the global market share in 2024, making it the dominant region.
- Passenger vehicles contributed the largest share, 47%, in 2024.
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Automotive Tire Market Driving Factors
- Growth of Electric Vehicles (EVs): The surge in EV adoption necessitates specialized tires that can handle increased torque and weight while maximizing energy efficiency. This shift presents new opportunities for tire manufacturers to develop products tailored to EV specifications.
- Increasing Vehicle Production and Ownership: The global rise in vehicle production, especially in emerging economies, directly boosts tire demand. As more consumers acquire vehicles, the need for original equipment manufacturer (OEMs) and replacement tires escalates.
- Expansion of Aftermarket Services: The growing number of vehicles on the road, combined with extended vehicle lifespans, leads to a robust demand for replacement tires and related services.
Market Scope
| Report Coverage | Details |
| Market Size by 2034 | USD 232.38 Billion |
| Market Size in 2025 | USD 151.07 Billion |
| Market Size in 2024 | USD 143.88 Billion |
| Market Growth Rate from 2025 to 2034 | CAGR of 4.91% |
| Largest Market | Asia Pacific |
Automotive Tire Market Companies
- Continental AG
- Bridgestone Corporation
- Pirelli Tyre C. S.p.A. (China National Chemical Corporation)
- MICHELIN
- Toyo Tire Corporation
- Hankook Tire & Technology Co., Ltd.
- The Goodyear Tire & Rubber Company
- The Yokohama Rubber Co., Ltd
- Sumitomo Rubber Industries Ltd
- Nokian Tyres plc
Market Segmentations
By Season Tire Type
- Winter
- Summer
- All Season
By Rim Size
- Less than 15
- Between 15 to 20
- Greater than 20
By Vehicle Type
- Commercial Vehicle
- Light Commercial
- Heavy Commercial
- Passenger Car
- Electric Vehicle
By Distribution Channel
- Aftermarket
- OEM
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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