Global Tires Industry

Global Tires Industry

  • February 2022 •
  • 618 pages •
  • Report ID: 5379599 •
  • Format: PDF

What`s New for 2022?
-Global competitiveness and key competitor percentage market shares
-Market presence across multiple geographies - Strong/Active/Niche/Trivial
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-Access to our digital archives and MarketGlass Research Platform
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Global Tires Market to Reach 2.9 Billion Units by 2027

Amid the COVID-19 crisis, the global market for Tires estimated at 2.1 Billion Units in the year 2020, is projected to reach a revised size of 2.9 Billion Units by 2027, growing at aCAGR of 4.5% over the period 2020-2027. Radial, one of the segments analyzed in the report, is projected to record 4.7% CAGR and reach 2.4 Billion Units by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Bias segment is readjusted to a revised 3.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at 568.2 Million Units, While China is Forecast to Grow at 7.2% CAGR

The Tires market in the U.S. is estimated at 568.2 Million Units in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 592.9 Million Units by the year 2027 trailing a CAGR of 7.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 3.6% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR.

Select Competitors (Total 168 Featured) -
  • Apollo Tyres Ltd.
  • Avon Tyres
  • Bridgestone Corporation
  • CEAT
  • Cheng Shin Rubber Ind. Co. Ltd.
  • Continental AG
  • Cooper Tire & Rubber Company
  • Giti Tire Pte. Ltd.
  • Goodyear Tire & Rubber Company
  • Hankook Tire Co., Ltd.
  • JK Tyre & Industries Ltd.
  • Kumho Tire Co., Inc.
  • Maxxis International
  • Michelin
  • MITAS A.S.
  • MRF
  • Nexen Tire Corporation
  • Nokian Tyres Oyj
  • Pirelli & C. S.p.A.
  • Shandong Linglong Tire Co., Ltd.
  • Sumitomo Rubber Industries, Ltd
  • Techking Tires Ltd.
  • Titan International, Inc.
  • Toyo Tire & Rubber Co., Ltd.
  • Trelleborg Wheel Systems Americas, Inc.
  • Yokohama Rubber Co., Ltd.
  • Zhongce Rubber Group Co., Ltd.