Passenger Car Tire Market Segmented By Vehicle Type (Hatchback, Multi-Purpose Vehicle, Sedan, Sports Utility Vehicle), By Demand Category (OEM, Replacement), By Regional, By Competition Forecast & Opportunities 2018-2028F

  • Industry : Automotive
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

Forecast Period

2024-2028

Market Size (2022)

1308.77 Million Units

CAGR (2023-2028)

4.70%

Fastest Growing Segment

Sports Utility Vehicle

Largest Market

Asia-Pacific

 

Market Overview

The Global Passenger Car Tire Market size reached 1308.77 Million Units in 2022 and is expected to reach 1710.06 Million Units by 2028. The Global Passenger Car Tire Market stands as a crucial segment within the automotive industry, playing a pivotal role in vehicle performance, safety, and driving comfort. Passenger car tires serve as the vital interface between the vehicle and the road, impacting factors such as traction, handling, and fuel efficiency. This market's evolution is driven by a multitude of factors, including technological advancements, changing consumer preferences, regulatory developments, and shifts in vehicle design.

Technological innovation has led to the development of high-performance tires that offer enhanced grip, reduced rolling resistance, and improved durability. These advancements not only contribute to better driving experiences but also align with environmental concerns, as efficient tires can lead to reduced fuel consumption and emissions. Run-flat and self-sealing tire technologies are gaining prominence, ensuring greater safety by allowing drivers to continue driving even after a puncture.

Consumer preferences are also shaping the market, with demands for specific tire sizes, tread patterns, and seasonal variations. All-season and winter tires cater to varying weather conditions, while ultra-high-performance tires cater to enthusiasts seeking enhanced handling and cornering capabilities. The market also reflects the trend of customization, where consumers opt for tires that complement their vehicle's aesthetics and driving requirements. Regulatory developments, particularly related to emissions and safety standards, have influenced tire design and materials. Tires with lower rolling resistance contribute to fuel efficiency and emissions reduction, aligning with global environmental initiatives. Additionally, tire labeling regulations guide consumers toward making informed choices by providing information on factors such as fuel efficiency, wet grip, and noise levels.

Vehicle design trends also impact the tire market, as advancements in electric and autonomous vehicles require specialized tires to accommodate their unique characteristics. Electric vehicles demand tires that minimize rolling resistance and enhance battery efficiency, while autonomous vehicles prioritize tire sensors and communication with vehicle systems for optimized performance and safety.

The Global Passenger Car Tire Market encapsulates the fusion of innovation, consumer preferences, regulatory influences, and technological progress. As vehicles become more sophisticated and diverse, passenger car tires continue to evolve to meet the demands of safety, performance, and environmental sustainability. This market's dynamism underscores its essential role in shaping the overall driving experience and contributing to the broader evolution of the automotive industry.

Key Market Drivers

Technological Advancements and Innovation

The tire industry is continually advancing through research and development efforts, leading to innovations that significantly enhance tire performance. Advanced tire materials, such as silica-infused compounds, are engineered to improve grip on both wet and dry surfaces, enhancing traction and handling. Reinforced sidewalls and innovative tread patterns contribute to improved durability and wear resistance. Moreover, the integration of smart technologies, such as tire pressure monitoring systems (TPMS) and intelligent tread wear sensors, allows real-time monitoring of tire conditions and alerts drivers to potential safety concerns.

Consumer Safety and Comfort Demands

Consumer preferences for safe and comfortable driving experiences drive tire manufacturers to focus on safety features and ride quality. Tire manufacturers engineer tires with advanced tread designs that provide excellent grip on wet or icy roads, reducing the risk of accidents in challenging conditions. Additionally, reduced rolling resistance in tires enhances fuel efficiency, contributing to environmental conservation. Tires with lower noise levels and improved ride comfort enhance the overall driving experience, meeting consumers' expectations for a smooth and quiet ride.


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Eco-Friendly and Fuel-Efficiency Trends

Growing concerns about environmental sustainability and fuel efficiency have led to the development of eco-friendly tire technologies. Tires with lower rolling resistance require less energy to move, resulting in improved fuel efficiency and reduced carbon emissions. Many countries have introduced regulations that mandate tire labeling, providing consumers with information about fuel efficiency, wet grip, and noise emissions. Tire manufacturers are investing in greener materials and construction methods to align with global efforts to reduce the carbon footprint of vehicles.

Vehicle Design and Performance Enhancement

Tire manufacturers collaborate closely with vehicle manufacturers to tailor tire designs to specific vehicle models and performance attributes. High-performance and sports cars demand tires with exceptional grip and responsiveness to handle increased speeds and cornering forces. Luxury vehicles prioritize comfort and quietness, leading to the development of tires that minimize road noise and vibrations. This symbiotic relationship between tire and vehicle manufacturers drives the need for innovative tire solutions that enhance vehicle performance and driver experience.

Changing Weather Patterns and Seasonal Tires

Varied weather conditions across different regions and seasons have spurred the demand for specialized tires. All-season tires offer a balance between wet and dry performance, making them versatile choices for consumers seeking convenience and consistent performance throughout the year. In colder climates, winter tires provide superior traction on snow and ice, ensuring safer driving during harsh conditions. The necessity for specific tire types based on seasonal requirements continues to drive research and development efforts in the tire industry. the Global Passenger Car Tire Market is propelled by a combination of technological advancements, safety considerations, environmental awareness, collaboration with automakers, and the need to adapt to changing weather conditions. These drivers collectively shape the industry's evolution, resulting in tire designs that prioritize performance, safety, sustainability, and a superior driving experience for consumers worldwide.

Key Market Challenges

Environmental Regulations and Sustainability Pressures

One of the primary challenges for the Passenger Car Tire Market is the increasing emphasis on environmental regulations and sustainability. As governments worldwide impose stricter emissions and fuel efficiency standards, tire manufacturers are pressured to produce tires with lower rolling resistance to improve vehicle fuel economy. Balancing these demands while maintaining optimal tire performance poses a significant challenge. Additionally, the tire industry is striving to reduce its environmental footprint by developing eco-friendly materials and production processes, which require substantial research and investment.

Rapidly Evolving Vehicle Technology

The rapid evolution of vehicle technology poses a challenge for tire manufacturers. Electric vehicles (EVs), hybrid vehicles, and autonomous driving technologies are reshaping vehicle designs and driving behaviors. EVs demand tires that can handle the unique torque characteristics and weight distribution of electric drivetrains, while autonomous vehicles require tires integrated with sensors for real-time communication with vehicle systems. Tire manufacturers must continuously innovate to develop tires that align with the changing requirements of emerging vehicle technologies.

Balancing Performance and Safety

Tire manufacturers face the intricate task of balancing tire performance attributes while ensuring safety. Developing tires that offer superior grip, handling, and comfort without compromising safety standards is challenging. For instance, high-performance tires designed for enhanced traction may have shorter tread life, raising concerns about durability and safety. Striking the right balance between performance and safety features is essential to cater to diverse consumer demands while adhering to regulatory guidelines.

Price and Competitive Pressure

The Passenger Car Tire Market is highly competitive, with numerous manufacturers vying for market share. This competition exerts pressure on pricing, leading to a challenge of maintaining profitability while meeting consumer expectations. Moreover, customers often prioritize price when choosing tires, making it difficult for manufacturers to invest in innovative technologies and sustainable practices without increasing costs. The challenge lies in offering high-quality tires with advanced features while remaining competitive in a price-sensitive market.

The Global Passenger Car Tire Market navigates challenges related to environmental regulations, evolving vehicle technologies, balancing performance and safety, and competitive pricing pressures. Overcoming these challenges requires continuous research and innovation, collaboration with vehicle manufacturers, and a strategic focus on sustainable practices to ensure that the industry remains resilient and responsive to changing consumer demands and regulatory requirements.

Key Market Trends

Growing Demand for All-Season Tires

The trend towards all-season tires continues to gain momentum. Consumers are seeking tires that provide a balance between wet and dry performance, making all-season tires a convenient choice for regions with varying weather conditions. These tires eliminate the need for seasonal tire changes, offering year-round versatility. Manufacturers are responding by developing all-season tires with improved tread designs and compound formulations that deliver reliable performance across different road and weather scenarios.

Rise of Eco-Friendly and Sustainable Tires

As environmental concerns mount, there is a notable shift towards eco-friendly and sustainable tire options. Tire manufacturers are investing in research to develop tires with lower rolling resistance, enhancing fuel efficiency and reducing carbon emissions. Moreover, there is an emphasis on using renewable and eco-friendly materials in tire production to minimize the environmental impact throughout the tire's lifecycle. This trend resonates with environmentally conscious consumers and aligns with global sustainability goals.

Smart and Connected Tire Technologies

Smart tire technologies are gaining traction, offering features such as tire pressure monitoring systems (TPMS), intelligent tread wear sensors, and connectivity to vehicle systems. These technologies provide real-time data to drivers, enhancing safety and vehicle performance. Smart tires can alert drivers to issues such as underinflation or abnormal wear, allowing proactive maintenance. Manufacturers are also exploring the integration of sensors that monitor road conditions and adjust tire performance for optimal grip and handling.

Customization and Personalization

Consumers are increasingly looking for tire options that align with their individual preferences and vehicle aesthetics. This trend has led to a demand for customizable tire designs, tread patterns, and sidewall designs. Tire manufacturers are responding by offering a wider range of design options, allowing customers to personalize their vehicles while ensuring optimal performance. Customization extends beyond aesthetics, as manufacturers also provide tires tailored to specific driving preferences and conditions.

Run-Flat and Self-Sealing Tires

The popularity of run-flat and self-sealing tire technologies is on the rise. Run-flat tires allow drivers to continue driving for a limited distance even after a puncture, providing added convenience and safety. Self-sealing tires feature a puncture-sealing layer that can seal small holes, reducing the risk of a sudden flat tire. These technologies offer peace of mind to drivers and minimize the need for immediate roadside assistance.

The Global Passenger Car Tire Market is marked by trends that reflect evolving consumer demands for convenience, sustainability, safety, and personalization. The industry's response to these trends includes the development of all-season and eco-friendly tires, the integration of smart technologies, customization options, and innovative tire solutions that enhance safety and performance. These trends collectively showcase the industry's commitment to meeting the changing needs of consumers and aligning with the broader goals of sustainability and technological advancement.

Segmental Insights

Passenger car tires are tailored to different vehicle types, including sedans, hatchbacks, SUVs, and sports cars. Sedans and hatchbacks prioritize comfort, fuel efficiency, and quietness, leading to tire designs that offer a smooth ride and minimal road noise. SUVs and crossovers demand tires with enhanced durability and all-terrain capabilities to cater to diverse driving conditions, from urban roads to off-road trails. Sports cars require high-performance tires that offer exceptional grip and responsiveness for spirited driving. Passenger car tires are available in various price ranges, catering to consumers with different budget considerations. Economy-tier tires offer cost-effective solutions with basic performance attributes, targeting budget-conscious consumers. Mid-range tires provide a balance between performance and affordability, appealing to a broader segment of consumers. Premium-tier tires emphasize advanced technologies, high-quality materials, and superior performance, often targeting luxury vehicle owners and enthusiasts seeking top-tier driving experiences. Passenger car tires are available in various price ranges, catering to consumers with different budget considerations. Economy-tier tires offer cost-effective solutions with basic performance attributes, targeting budget-conscious consumers. Mid-range tires provide a balance between performance and affordability, appealing to a broader segment of consumers. Premium-tier tires emphasize advanced technologies, high-quality materials, and superior performance, often targeting luxury vehicle owners and enthusiasts seeking top-tier driving experiences. The tire market is characterized by various technological advancements, leading to the segmentation of tires based on technology features. Run-flat tires allow drivers to continue driving for a limited distance after a puncture, enhancing safety and convenience. Self-sealing tires feature technology that seals small punctures, reducing the risk of sudden flats. Additionally, smart and connected tire technologies, such as tire pressure monitoring systems (TPMS) and intelligent sensors, provide real-time data to drivers, contributing to safety and performance optimization.

The segmental insights of the Global Passenger Car Tire Market provide a comprehensive view of the diverse tire options available to cater to various vehicle types, driving conditions, and consumer preferences. The market's segmentation allows manufacturers to tailor their offerings to meet the specific requirements of consumers, highlighting the industry's adaptability and innovation in delivering optimal driving experiences.


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Regional Insights

North America, a significant emphasis on personal mobility and diverse road conditions contributes to the demand for versatile passenger car tires. The prevalence of SUVs and trucks drives the need for all-season and all-terrain tire options. Additionally, consumers in this region prioritize tire longevity, fuel efficiency, and safety features. The trend of customization is also strong, with consumers seeking tires that align with their vehicle aesthetics. Tire manufacturers cater to these preferences by offering a range of tire types, sizes, and technologies.

Europe's varied climate and extensive road networks influence the demand for specialized passenger car tires. Countries with distinct winter seasons drive the need for winter tires that provide optimal grip on snow and ice. The region's stringent regulations on emissions and vehicle safety also influence tire design, pushing for tires with lower rolling resistance to enhance fuel efficiency. European consumers also prioritize performance, demanding high-quality tires that offer superior handling and cornering capabilities, particularly in regions with a strong automotive culture.

The Asia-Pacific region showcases a diverse landscape with varying consumer preferences. In countries like Japan and South Korea, urbanization drives the demand for tires that offer comfort, quietness, and fuel efficiency for city commuting. In contrast, emerging economies like China and India prioritize affordability and durability, leading to a demand for economy-tier and mid-range tires. The region's growing middle class and increasing vehicle ownership contribute to the overall growth of the passenger car tire market.

In the Middle East and Africa, extreme temperatures and desert terrains impact tire requirements. Consumers seek tires that can handle high temperatures and provide durability in challenging conditions. All-terrain and off-road tires are in demand among outdoor enthusiasts and adventurers exploring desert landscapes. Additionally, luxury and premium vehicle segments in the Middle East drive demand for high-performance tires that offer exceptional handling and performance.

South America exhibits a mix of urbanization and rugged terrains that shape tire preferences. Urban centers demand tires that provide comfort and fuel efficiency for city driving, while rural areas and off-road enthusiasts seek tires with all-terrain capabilities. Economic factors influence tire choices, with a balance between affordability and performance. Tire manufacturers often offer products that can withstand varying road conditions, from well-paved city streets to challenging unpaved roads.

Recent Developments

  • In May 2023, Romania's new passenger vehicle tire facility by Nokian Tires officially opens.
  • In August 2022, recently the first all-season passenger car tire from Davanti, the first of its kind by the company.
  • In March 2023, For the Saudi tire facility, Black Arrow "nears construction launch.

Key Market Players

  • Bridgestone Corp.
  • Continental Automotive AG
  • Cooper Tire & Rubber Company
  • Goodyear Tire & Rubber Company
  • Hankook Tires Group
  • Michelin Tires
  • MRF (Madras Rubber Factory Limited)
  • Pirelli & C SpA
  • Apollo Tires
  • Yokohama Rubber Co. Ltd.

By Vehicle Type

By Demand Category

By Geography
  • Hatchback
  • Multi-Purpose Vehicle Sedan
  • Sports Utility Vehicle
  • OEM
  • Replacement
  • North America
  • Europe & CIS
  • Asia-Pacific
  • South America
  • Middle East & Africa

 

Report Scope

In this report, the Global Passenger Car Tire Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Passenger Car Tire Market By Vehicle Type:

o   Hatchback

o   Multi-Purpose Vehicle

o   Sedan

o   Sports Utility Vehicle

  • Passenger Car Tire Market, By Demand Category:

o   OEM

o   Replacement

  • Passenger Car Tire Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe & CIS

§  Germany

§  Spain

§  France

§  Russia

§  Italy

§  United Kingdom

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Indonesia

§  South Korea

§  Australia

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  Turkey

§  Iran

§  Saudi Arabia

§  UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Passenger Car Tire Market.

Available Customizations:

Global Passenger Car Tire Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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Table of content

1.   Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Impact of COVID-19 on Global Passenger Car Tire Market

5.    Global Passenger Car Tire Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value & Volume

5.2.  Market Share & Forecast

5.2.1.    By Vehicle Type Market Share Analysis (Hatchback, Multi-Purpose Vehicle, Sedan, Sports Utility Vehicle)

5.2.2.    By Demand Category Market Share Analysis (OEM and Replacement)

5.2.3.    By Regional Market Share Analysis

5.2.3.1.        Asia-Pacific Market Share Analysis

5.2.3.2.        Europe & CIS Market Share Analysis

5.2.3.3.        North America Market Share Analysis

5.2.3.4.        South America Market Share Analysis

5.2.3.5.        Middle East & Africa Market Share Analysis

5.2.4.    By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume, 2022)

5.3.  Global Passenger Car Tire Market Mapping & Opportunity Assessment

5.3.1.    By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2.    By Demand Category Market Mapping & Opportunity Assessment

5.3.3.    By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Passenger Car Tire Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value & Volume

6.2.  Market Share & Forecast

6.2.1.    By Vehicle Type Market Share Analysis

6.2.2.    By Demand Category Market Share Analysis

6.2.3.    By Country Market Share Analysis

6.2.3.1.        China Market Share Analysis

6.2.3.2.        India Market Share Analysis

6.2.3.3.        Japan Market Share Analysis

6.2.3.4.        Indonesia Market Share Analysis

6.2.3.5.        South Korea Market Share Analysis

6.2.3.6.        Australia Market Share Analysis

6.2.3.7.        Rest of Asia-Pacific Market Share Analysis

6.3.  Asia-Pacific: Country Analysis

6.3.1.    China Passenger Car Tire Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value & Volume

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Vehicle Type Market Share Analysis

6.3.1.2.2.           By Demand Category Market Share Analysis

6.3.2.    India Passenger Car Tire Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value & Volume

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Vehicle Type Market Share Analysis

6.3.2.2.2.           By Demand Category Market Share Analysis

6.3.3.    Japan Passenger Car Tire Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value & Volume

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Vehicle Type Market Share Analysis

6.3.3.2.2.           By Demand Category Market Share Analysis

6.3.4.    Indonesia Passenger Car Tire Market Outlook

6.3.4.1.        Market Size & Forecast

6.3.4.1.1.           By Value & Volume

6.3.4.2.        Market Share & Forecast

6.3.4.2.1.           By Vehicle Type Market Share Analysis

6.3.4.2.2.           By Demand Category Market Share Analysis

6.3.5.    South Korea Passenger Car Tire Market Outlook

6.3.5.1.        Market Size & Forecast

6.3.5.1.1.           By Value & Volume

6.3.5.2.        Market Share & Forecast

6.3.5.2.1.           By Vehicle Type Market Share Analysis

6.3.5.2.2.           By Demand Category Market Share Analysis

6.3.6.    Australia Passenger Car Tire Market Outlook

6.3.6.1.        Market Size & Forecast

6.3.6.1.1.           By Value & Volume

6.3.6.2.        Market Share & Forecast

6.3.6.2.1.           By Vehicle Type Market Share Analysis

6.3.6.2.2.           By Demand Category Market Share Analysis

7.    Europe & CIS Passenger Car Tire Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value & Volume

7.2.  Market Share & Forecast

7.2.1.    By Vehicle Type Market Share Analysis

7.2.2.    By Demand Category Market Share Analysis

7.2.3.    By Country Market Share Analysis

7.2.3.1.        Germany Market Share Analysis

7.2.3.2.        Spain Market Share Analysis

7.2.3.3.        France Market Share Analysis

7.2.3.4.        Russia Market Share Analysis

7.2.3.5.        Italy Market Share Analysis

7.2.3.6.        United Kingdom Market Share Analysis

7.2.3.7.        Belgium Market Share Analysis

7.2.3.8.        Rest of Europe & CIS Market Share Analysis

7.3.  Europe & CIS: Country Analysis

7.3.1.    Germany Passenger Car Tire Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value & Volume

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Vehicle Type Market Share Analysis

7.3.1.2.2.           By Demand Category Market Share Analysis

7.3.2.    Spain Passenger Car Tire Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value & Volume

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Vehicle Type Market Share Analysis

7.3.2.2.2.           By Demand Category Market Share Analysis

7.3.3.    France Passenger Car Tire Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value & Volume

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Vehicle Type Market Share Analysis

7.3.3.2.2.           By Demand Category Market Share Analysis

7.3.4.    Russia Passenger Car Tire Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value & Volume

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Vehicle Type Market Share Analysis

7.3.4.2.2.           By Demand Category Market Share Analysis

7.3.5.    Italy Passenger Car Tire Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value & Volume

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Vehicle Type Market Share Analysis

7.3.5.2.2.           By Demand Category Market Share Analysis

7.3.6.    United Kingdom Passenger Car Tire Market Outlook

7.3.6.1.        Market Size & Forecast

7.3.6.1.1.           By Value & Volume

7.3.6.2.        Market Share & Forecast

7.3.6.2.1.           By Vehicle Type Market Share Analysis

7.3.6.2.2.           By Demand Category Market Share Analysis

7.3.7.    Belgium Passenger Car Tire Market Outlook

7.3.7.1.        Market Size & Forecast

7.3.7.1.1.           By Value & Volume

7.3.7.2.        Market Share & Forecast

7.3.7.2.1.           By Vehicle Type Market Share Analysis

7.3.7.2.2.           By Demand Category Market Share Analysis

8.    North America Passenger Car Tire Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value & Volume

8.2.  Market Share & Forecast

8.2.1.    By Vehicle Type Market Share Analysis

8.2.2.    By Demand Category Market Share Analysis

8.2.3.    By Country Market Share Analysis

8.2.3.1.        United States Market Share Analysis

8.2.3.2.        Canada Market Share Analysis

8.2.3.3.        Mexico Market Share Analysis

8.3.  North America: Country Analysis

8.3.1.    United States Passenger Car Tire Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value & Volume

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Vehicle Type Market Share Analysis

8.3.1.2.2.           By Demand Category Market Share Analysis

8.3.2.    Canada Passenger Car Tire Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value & Volume

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Vehicle Type Market Share Analysis

8.3.2.2.2.           By Demand Category Market Share Analysis

8.3.3.    Mexico Passenger Car Tire Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value & Volume

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Vehicle Type Market Share Analysis

8.3.3.2.2.           By Demand Category Market Share Analysis

9.    South America Passenger Car Tire Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value & Volume

9.2.  Market Share & Forecast

9.2.1.    By Vehicle Type Market Share Analysis

9.2.2.    By Demand Category Market Share Analysis

9.2.3.    By Country Market Share Analysis

9.2.3.1.        Brazil Market Share Analysis

9.2.3.2.        Colombia Market Share Analysis

9.2.3.3.        Argentina Market Share Analysis

9.2.3.4.        Rest of South America Market Share Analysis

9.3.  South America: Country Analysis

9.3.1.    Brazil Passenger Car Tire Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value & Volume

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Vehicle Type Market Share Analysis

9.3.1.2.2.           By Demand Category Market Share Analysis

9.3.2.    Colombia Passenger Car Tire Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value & Volume

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Vehicle Type Market Share Analysis

9.3.2.2.2.           By Demand Category Market Share Analysis

9.3.3.    Argentina Passenger Car Tire Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value & Volume

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Vehicle Type Market Share Analysis

9.3.3.2.2.           By Demand Category Market Share Analysis

10. Middle East & Africa Passenger Car Tire Market Outlook

10.1.            Market Size & Forecast

10.1.1. By Value & Volume

10.2.            Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Demand Category Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1.     Turkey Market Share Analysis

10.2.3.2.     Iran Market Share Analysis

10.2.3.3.     Saudi Arabia Market Share Analysis

10.2.3.4.     UAE Market Share Analysis

10.2.3.5.     Rest of Middle East & Africa Market Share Analysis

10.3.            Middle East & Africa: Country Analysis

10.3.1. Turkey Passenger Car Tire Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value & Volume

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Vehicle Type Market Share Analysis

10.3.1.2.2.         By Demand Category Market Share Analysis

10.3.2. Iran Passenger Car Tire Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value & Volume

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Vehicle Type Market Share Analysis

10.3.2.2.2.         By Demand Category Market Share Analysis

10.3.3. Saudi Arabia Passenger Car Tire Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value & Volume

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Vehicle Type Market Share Analysis

10.3.3.2.2.         By Demand Category Market Share Analysis

10.3.4. UAE Passenger Car Tire Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value & Volume

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Vehicle Type Market Share Analysis

10.3.4.2.2.         By Demand Category Market Share Analysis

11. SWOT Analysis

11.1.            Strength

11.2.            Weakness

11.3.            Opportunities

11.4.            Threats

12. Market Dynamics

12.1.            Market Drivers

12.2.            Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1.            Company Profiles (Up to 10 Major Companies)

14.1.1. Bridgestone Corp

14.1.1.1.     Company Details

14.1.1.2.     Key Products Offered

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Recent Developments

14.1.1.5.     Key Management Personnel

14.1.2. Continental Automotive AG

14.1.2.1.     Company Details

14.1.2.2.     Key Products Offered

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Recent Developments

14.1.2.5.     Key Management Personnel

14.1.3. Goodyear Tire & Rubber Company

14.1.3.1.     Company Details

14.1.3.2.     Key Products Offered

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Recent Developments

14.1.3.5.     Key Management Personnel

14.1.4. Michelin Group

14.1.4.1.     Company Details

14.1.4.2.     Key Products Offered

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Recent Developments

14.1.4.5.     Key Management Personnel

14.1.5. MRF (Madras Rubber Factory Limited)

14.1.5.1.     Company Details

14.1.5.2.     Key Products Offered

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Recent Developments

14.1.5.5.     Key Management Personnel

14.1.6. Pirelli & C SpA

14.1.6.1.     Company Details

14.1.6.2.     Key Products Offered

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Recent Developments

14.1.6.5.     Key Management Personnel

14.1.7. Apollo Tires

14.1.7.1.     Company Details

14.1.7.2.     Key Products Offered

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Recent Developments

14.1.7.5.     Key Management Personnel

14.1.8. Yokohama Rubber Co. Ltd.

14.1.8.1.     Company Details

14.1.8.2.     Key Products Offered

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Recent Developments

14.1.8.5.     Key Management Personnel

14.1.9. Cooper Tire & Rubber Company

14.1.9.1.     Company Details

14.1.9.2.     Key Products Offered

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Recent Developments

14.1.9.5.     Key Management Personnel

14.1.10.              Hankook Tires Group

14.1.10.1.  Company Details

14.1.10.2.  Key Products Offered

14.1.10.3.  Financials (As Per Availability)

14.1.10.4.  Recent Developments

14.1.10.5.  Key Management Personnel

15. Strategic Recommendations

15.1.            Key Focus Areas

15.1.1. Target Regions & Countries

15.1.2. Target By Vehicle Type

15.1.3. Target Demand Category

16.  About Us & Disclaimer

 

Figures and Tables

Frequently asked questions

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The market size of the Global Passenger Car Tire Market reached 1710.06 Million Units in 2022.

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The dominating segment in the Global Passenger Car Tire Market by vehicle type is the SUV and crossover category. With the rising popularity of SUVs and crossovers globally, these vehicles have become a dominant choice among consumers seeking versatility, comfort, and all-terrain capabilities. The demand for tires that can handle diverse road conditions, from city streets to off-road adventures, has propelled the SUV and crossover segment to the forefront of the market. Tire manufacturers are responding with innovative tire designs that cater to the specific requirements of these vehicles, including enhanced durability, all-season performance, and advanced traction features. As SUVs continue to capture a significant share of the passenger car market, the dominance of this segment is expected to persist in the foreseeable future.

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The Asia-Pacific region plays a pivotal role in the Global Passenger Car Tire Market. Its diverse landscape, rapid urbanization, and growing middle class contribute to a robust demand for passenger car tires. Emerging economies like China and India drive substantial tire consumption due to increasing vehicle ownership. Consumer preferences vary widely, from urban commuting comfort to off-road capabilities, leading to a diverse range of tire choices. With its dynamic automotive landscape and evolving consumer trends, the Asia-Pacific region significantly influences the overall growth and trajectory of the passenger car tire market.

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The Global Passenger Car Tire Market is driven by several key factors. Technological advancements continuously improve tire performance, safety, and sustainability, meeting evolving consumer demands. Increasing vehicle ownership and urbanization in emerging economies spur tire demand. Stricter environmental regulations propel the development of eco-friendly and fuel-efficient tires. Additionally, the surge in SUV and crossover popularity drives the need for versatile all-terrain tires. Collectively, these drivers shape the market's growth, innovation, and adaptability to changing consumer preferences and industry trends.

Related Reports

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Srishti Verma

Business Consultant
Press Release

Passenger Car Tire Market to Grow with a CAGR of 4.7% through 2028

Oct, 2023

Rising passenger car production, Technological advancements and safety demand are the factors driving Global Passenger Car Tire Market in the forecast period.

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