Pneumatic Tire Market Synopsis

Pneumatic Tire Market Size is Valued at USD 353.60 Billion in 2023, and is Projected to Reach USD 516.50 Billion by 2032, Growing at a CAGR of 4.30% From 2024-2032.

The pneumatic tire industry deals with products that are in the vertical of the tires that have air inside in order to offer cushioning to vehicles. These tires can be used on car and trucks for passenger and commercial, motorcycles, and other off-road cars. Pneumatic tires are preferred because of the benefits they offer as regards to improvements in the irregular landing, better ground adhesion and cushioning because of its flexible pattern and air-filled structure.

• As the global demand for automobiles continues to rise, they played an important role in the growth of the pneumatic tire market. This is due to increase in the consumption ratio of automobiles with increase in volume of urbanization and increase in disposable income. Also, innovation in tire industry, including innovations in material and production methodology, improve tire efficiency and durability and fosters the market growth. The growth in the concern of safety as well as efficiency of vehicles is also encouraging the consumers to purchasing pneumatic tires of better quality.
• This can be attributed to what Market growth in other areas, including the increasing dominance of electronic commerce and online retailing of tires. Due to the possibilities to make purchases online and various sales promotion tools, direct consumer sales have grown. Now this change is forcing the manufacturers to advance their distribution networks and turn to selling their products online while making pneumatic tires more accessible for a wider population of consumers.

Pneumatic Tire Market Trend Analysis

Growing emphasis on sustainability and eco-friendliness.

• It is noteworthy that one of the major trends in the context of the pneumatic tire consumption is the fair amount of attention paid to sustainability and environmentally friendly products. Today, manufactures are paying more attention to creating the tires that can be produced from environmentally friendly materials. Such requirement is fostered by consumers’ consciousness about environmental concerns and legislation that seeks to limit emissions of greenhouse gases. Also there some trends such as expansion of tire recycling programs and eco-labeling which are appearing more frequently indicating that industry is moving toward sustainable developing.
• The fourth trend is utilizing smart technology in pneumatic tires. They include the tire pressure monitoring systems, TPMS, as well as connected tires with sensors. These technologies give drivers immediate feedback about the performance of tires thus increasing safety and fuel economy. Such a trend is being further driven by the increasing electrification and autonomy of vehicles and, therefore, the need to develop tires for these and other new types of vehicles.

Industrialize and urbanize, the demand for vehicles

• This specialist automotive segment is predicted to offer sustained rates of growth for the pneumatic tire industry, especially in developing countries. They opined that as the countries in the regions like Asia-Pacific and Latin America grow industrially and experience urbanization, the demand for vehicle and, therefore, tires will also increase. It also comes at the right time for manufacturers because they get a window into extending their market reach and get a hold on new customers. Also, the continuing growth of spending on infrastructure and transportation in these zones augurs well for commercial and heavy-duty tires.
• In addition, the increasing volume of sales and usage of electric vehicles (EVs) offer a new opportunity for the pneumatic tire market. The tyres used in EVs are completely different from those that are used in traditional cars since they aim at efficiency and performance making this a potential area for development of new products that strictly targets this market. New technologies introduced in electric and hybrid vehicles present manufacturers with an opportunity to invest in research and development in creating nitrogen tires that will fit the market trend.

Pneumatic Tire Market Segment Analysis:

Pneumatic Tire Market Segmented on the basis of type, application, and end-users.

By Type, Radial Tires segment is expected to dominate the market during the forecast period

• They are two fundamental groups of pneumatic tires; radial tires and bias tires which differ in construction as well as in performance characteristics. Radial tires have theirplies laid down in radial fashion originating from center of the tire this provide forhigh flexibility of the sidewalls and also improves handling, tractions and fuel economy. They are becoming popular in passenger cars as well as light trucks primarily because of their performance mostly on paved surfaces. On the other hand, bias tires have two layers of plies which cross each other at a diagonal direction; its sidewall is comparatively stiffer and predominantly six-lug versions are adequate for bear loads and challenging terrains. Bias tyres are normally found in commercial use such as in agricultural and industrial tractors, and equipments which need tyre that cannot easily get spoilt by puncture. Each of the tire types comes with its benefits owing to which it can be used in certain driving situations and with certain vehicles.

By Vehicle Type, Passenger Cars segment held the largest share in 2024

• The pneumatic tire market can be segmented by vehicle type into five main categories: includes the classes of passenger car, LCVs, HCVs, 2W, and OTR. Car is a major part of automobile industry that stands for sedans, hatchbacks, and most types of SUVs as these cars have high demand and require tires with different properties like comfort and fuel-efficiency. The light commercial vehicle category includes vans and small trucks with the rationale that the preferred tires for these vehicles would have to meet both the urban duty and deliver some light load capability as an important aspect of durability and versatility. Large commercial vehicle such as big trucks and trailers require durable tyres that can bear the weight while at the same time offer the vehicle solidity on long distances. Motorcycles, also known as scooters, are other categories of two-wheelers and need special tires that can afford to give a good grip in all riding terrains. Finally, tires for off-the-road vehicles that include agricultural, construction and mining vehicles require tires tailored for toughness and strength to operate in extreme terrains and with heavy loads hence revealing the dynamism of pneumatic tires market by vehicle type.

Pneumatic Tire Market Regional Insights:

Asia Pacific is Expected to Dominate the Market Over the Forecast period

• The Asia-Pacific region has emerged as the largest fragment of the pneumatic tire market primarily due to the large spectrum of automotive industries and a large demand pool. Markets of countries such as China, India, and Japan are remarkably involved in the production and consumption of vehicles, which have a vast demand for pneumatic tires. The current advancements in urbanization in these countries, and income per capita are contributing to growth in the automotive industry. As a result, there is growing need for quality tires to meet this increasing vehicle market population.
• Besides, the region is experiencing increased capacity investments in manufacturing capacity as well as improvement in technologies used in tire manufacturing. Partnerships with manufacturers from other countries, as well as local manufactures’ entrance, has further compliment the competitional environment. Since it has been on the forecast that the automotive market within the Asia-Pacific region is projected to grow, the same region is expected to hold the largest market share in the pneumatic tire market in the near future.

Active Key Players in the Pneumatic Tire Market

• Michelin (France)
• Bridgestone (Japan)
• Goodyear (United States)
• Continental (Germany)
• Pirelli (Italy)
• Yokohama (Japan)
• Dunlop (United Kingdom)
• Hankook (South Korea)
• Cooper Tire & Rubber Company (United States)
• Toyo Tires (Japan)
• Others

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Pneumatic Tire Market by Type
 4.1 Pneumatic Tire Market Snapshot and Growth Engine
 4.2 Pneumatic Tire Market Overview
 4.3 Radial Tires
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Radial Tires: Geographic Segmentation Analysis
 4.4 Bias Tires
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Bias Tires: Geographic Segmentation Analysis

Chapter 5: Pneumatic Tire Market by Vehicle Type
 5.1 Pneumatic Tire Market Snapshot and Growth Engine
 5.2 Pneumatic Tire Market Overview
 5.3 Passenger Cars
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Passenger Cars: Geographic Segmentation Analysis
 5.4 Light Commercial Vehicles (LCVs)
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Light Commercial Vehicles (LCVs): Geographic Segmentation Analysis
 5.5 Heavy Commercial Vehicles (HCVs)
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Heavy Commercial Vehicles (HCVs): Geographic Segmentation Analysis
 5.6 Two-Wheelers
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Two-Wheelers: Geographic Segmentation Analysis
 5.7 Off-the-Road (OTR) Vehicles
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Off-the-Road (OTR) Vehicles: Geographic Segmentation Analysis

Chapter 6: Pneumatic Tire Market by Application
 6.1 Pneumatic Tire Market Snapshot and Growth Engine
 6.2 Pneumatic Tire Market Overview
 6.3 On-Road
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 On-Road: Geographic Segmentation Analysis
 6.4 Off-Road
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Off-Road: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Pneumatic Tire Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 MICHELIN
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 BRIDGESTONE
 7.4 GOODYEAR
 7.5 CONTINENTAL
 7.6 PIRELLI
 7.7 YOKOHAMA
 7.8 DUNLOP
 7.9 HANKOOK
 7.10 COOPER TIRE & RUBBER COMPANY
 7.11 TOYO TIRES
 7.12 OTHERS

Chapter 8: Global Pneumatic Tire Market By Region
 8.1 Overview
 8.2. North America Pneumatic Tire Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Type
  8.2.4.1 Radial Tires
  8.2.4.2 Bias Tires
  8.2.5 Historic and Forecasted Market Size By Vehicle Type
  8.2.5.1 Passenger Cars
  8.2.5.2 Light Commercial Vehicles (LCVs)
  8.2.5.3 Heavy Commercial Vehicles (HCVs)
  8.2.5.4 Two-Wheelers
  8.2.5.5 Off-the-Road (OTR) Vehicles
  8.2.6 Historic and Forecasted Market Size By Application
  8.2.6.1 On-Road
  8.2.6.2 Off-Road
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe Pneumatic Tire Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Type
  8.3.4.1 Radial Tires
  8.3.4.2 Bias Tires
  8.3.5 Historic and Forecasted Market Size By Vehicle Type
  8.3.5.1 Passenger Cars
  8.3.5.2 Light Commercial Vehicles (LCVs)
  8.3.5.3 Heavy Commercial Vehicles (HCVs)
  8.3.5.4 Two-Wheelers
  8.3.5.5 Off-the-Road (OTR) Vehicles
  8.3.6 Historic and Forecasted Market Size By Application
  8.3.6.1 On-Road
  8.3.6.2 Off-Road
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Bulgaria
  8.3.7.2 The Czech Republic
  8.3.7.3 Hungary
  8.3.7.4 Poland
  8.3.7.5 Romania
  8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Pneumatic Tire Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Type
  8.4.4.1 Radial Tires
  8.4.4.2 Bias Tires
  8.4.5 Historic and Forecasted Market Size By Vehicle Type
  8.4.5.1 Passenger Cars
  8.4.5.2 Light Commercial Vehicles (LCVs)
  8.4.5.3 Heavy Commercial Vehicles (HCVs)
  8.4.5.4 Two-Wheelers
  8.4.5.5 Off-the-Road (OTR) Vehicles
  8.4.6 Historic and Forecasted Market Size By Application
  8.4.6.1 On-Road
  8.4.6.2 Off-Road
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 Netherlands
  8.4.7.5 Italy
  8.4.7.6 Russia
  8.4.7.7 Spain
  8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Pneumatic Tire Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Type
  8.5.4.1 Radial Tires
  8.5.4.2 Bias Tires
  8.5.5 Historic and Forecasted Market Size By Vehicle Type
  8.5.5.1 Passenger Cars
  8.5.5.2 Light Commercial Vehicles (LCVs)
  8.5.5.3 Heavy Commercial Vehicles (HCVs)
  8.5.5.4 Two-Wheelers
  8.5.5.5 Off-the-Road (OTR) Vehicles
  8.5.6 Historic and Forecasted Market Size By Application
  8.5.6.1 On-Road
  8.5.6.2 Off-Road
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Pneumatic Tire Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Type
  8.6.4.1 Radial Tires
  8.6.4.2 Bias Tires
  8.6.5 Historic and Forecasted Market Size By Vehicle Type
  8.6.5.1 Passenger Cars
  8.6.5.2 Light Commercial Vehicles (LCVs)
  8.6.5.3 Heavy Commercial Vehicles (HCVs)
  8.6.5.4 Two-Wheelers
  8.6.5.5 Off-the-Road (OTR) Vehicles
  8.6.6 Historic and Forecasted Market Size By Application
  8.6.6.1 On-Road
  8.6.6.2 Off-Road
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkey
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America Pneumatic Tire Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Type
  8.7.4.1 Radial Tires
  8.7.4.2 Bias Tires
  8.7.5 Historic and Forecasted Market Size By Vehicle Type
  8.7.5.1 Passenger Cars
  8.7.5.2 Light Commercial Vehicles (LCVs)
  8.7.5.3 Heavy Commercial Vehicles (HCVs)
  8.7.5.4 Two-Wheelers
  8.7.5.5 Off-the-Road (OTR) Vehicles
  8.7.6 Historic and Forecasted Market Size By Application
  8.7.6.1 On-Road
  8.7.6.2 Off-Road
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research