Electric Vehicle Tires Market Size to Elevate $59.59 Bn by 2034

Electric Vehicle Tires Market Size, Share and Growth Projections

The electric vehicle tires market is projected to grow from USD 24.53 billion in 2024 to USD 59.59 billion by 2034. The electric vehicle (EV) tires market is rapidly growing, driven by increasing EV adoption, advancements in tire technology, and the need for specialized tires for electric mobility. AI is enhancing tire development, while rising EV sales and government incentives boost demand. Innovations like self-inflating tires and improved designs are shaping the market's future.

Executive Summary

  • Overview of Market Dynamics
  • Key Market Trends
  • Growth Opportunities and Challenges

Introduction

  • Market Definition
  • Scope of the Study
  • Methodology

Key Players Profiled

  • Michelin (France)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Continental AG (Germany)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Nokian Tires (Finland)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Toyo Tyres (Japan)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • PIRELLI TYRE S.P.A. (Italy)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Goodyear Tyres (U.S.)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Sumitomo Rubber Industries (Japan)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Bridgestone Corporation (Japan)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Trelleborg AB (Sweden)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share
  • Hankook Tire & Technology (South Korea)
    • Company Overview
    • Product Offerings in Electric Vehicle Tires
    • Recent Developments and Innovations
    • Financial Performance and Market Share

Market Segmentation

  • By Propulsion Type
    • Battery Electric Vehicle (BEV)
    • Hybrid Electric Vehicle (HEV)
  • By Sales Channel
    • OEM (Original Equipment Manufacturer)
    • Aftermarket
  • By Tire Size
    • Up to 17”
    • 18" to 21"
    • Above 21"
  • By Vehicle Type
    • Passenger Car
    • Commercial Vehicle

Regional Analysis

  • North America
    • Market Size and Growth
    • Key Players and Trends
  • Latin America
    • Market Size and Growth
    • Key Players and Trends
  • Europe
    • Market Size and Growth
    • Key Players and Trends
  • Asia and Pacific
    • Market Size and Growth
    • Key Players and Trends
  • Middle East and Africa
    • Market Size and Growth
    • Key Players and Trends

Cross Segmentations

Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV) by Sales Channel (OEM & Aftermarket)

  • Overview
  • Market Trends
  • Growth Drivers

Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV) by Tire Size (Up to 17”, 18" to 21", Above 21")

  • Tire Size Preferences
  • Market Analysis
  • Regional Differences

Battery Electric Vehicle (BEV) and Hybrid Electric Vehicle (HEV) by Vehicle Type (Passenger Car & Commercial Vehicle)

  • Market Segmentation
  • Demand & Supply Dynamics
  • Growth Opportunities

OEM and Aftermarket by Tire Size (Up to 17”, 18" to 21", Above 21")

  • Market Share Analysis
  • Sales Trends
  • Price Trends

OEM and Aftermarket by Vehicle Type (Passenger Car & Commercial Vehicle)

  • Sales Channel Dynamics
  • Market Size & Forecasts
  • Regional Insights

Tire Size (Up to 17”, 18" to 21", Above 21”) by Vehicle Type (Passenger Car & Commercial Vehicle)

  • Demand by Tire Size
  • Usage Patterns
  • Segment Growth Trends

Tire Size (Up to 17”, 18" to 21", Above 21”) by Sales Channel (OEM & Aftermarket)

  • Segment Analysis
  • Sales Data Comparison
  • Consumer Preferences

North America, Latin America, and Europe by Propulsion Type (BEV & HEV)

  • Regional Market Trends
  • Consumer Adoption Rates
  • Regulatory Impact

North America, Latin America, and Europe by Tire Size (Up to 17”, 18" to 21", Above 21")

  • Regional Size Preferences
  • Market Growth Projections
  • Consumer Behavior Insights

Asia and Pacific and Middle East and Africa by Vehicle Type (Passenger Car & Commercial Vehicle)

  • Market Landscape
  • Growth Factors
  • Regional Insights

Go-to-Market Strategies (Europe/Asia Pacific/North America/Latin America/Middle East):

  • Market segmentation by region and consumer demographics
  • Tailored marketing strategies for each region
  • Distribution channels and partnerships
  • Competitive landscape and positioning
  • Targeting fleet owners, OEMs, and consumers
  • Influencing factors: consumer behavior, local preferences

Production & Manufacturing Data:

  • Manufacturing capabilities and production volume
  • Key manufacturers and suppliers in EV tire production
  • Technological advancements in tire manufacturing
  • Automation and robotics in production
  • Sourcing of raw materials for EV tire production
  • Quality control and testing procedures

Cross-Border Automotive Trade and Services:

  • Key trade agreements affecting the EV tire market
  • Export and import trends for EV tires
  • Trade barriers, tariffs, and customs regulations
  • Global supply chain dependencies
  • International collaborations and joint ventures

Regulatory Landscape & Policy Insights in Automotive Market:

  • National and regional EV tire regulations
  • Safety standards and certifications
  • Environmental regulations related to tire materials
  • Tire lifespan, recycling, and disposal laws
  • Carbon footprint and environmental impact standards
  • Policy incentives for electric vehicles and related accessories

Impact of Regulatory Changes on Market:

  • Shifts in market demand due to regulatory changes
  • Impact of stricter emission standards on tire manufacturing
  • Consumer behavior influenced by regulatory incentives
  • New policies driving innovation in EV tire design
  • Legal challenges and compliance costs

Government Spending and Policies:

  • Public investment in electric vehicle infrastructure
  • Government funding for sustainable tire technology development
  • Subsidies and incentives for EV owners (impact on tire demand)
  • Government-supported R&D in tire manufacturing
  • Local and regional policy impacts on tire sales

Technological Disruption and Innovations:

  • Advancements in tire material technology (e.g., graphene, synthetic rubber)
  • Integration of smart technologies (e.g., tire pressure monitoring systems)
  • Innovations in tire longevity and performance
  • Development of self-healing tires
  • AI and machine learning in tire manufacturing and design
  • Advancements in tire recycling and reusability

Advanced Manufacturing Techniques:

  • 3D printing and additive manufacturing in tire production
  • Advanced molding and curing processes
  • Automation in tire assembly lines
  • Use of AI for quality assurance in production
  • Digital twins and simulations in tire design
  • Energy-efficient manufacturing processes

Consumer Adoption and Digital Evolution:

  • Growing acceptance of EV tires among consumers
  • Role of digital platforms in consumer tire selection
  • Online tire sales and e-commerce channels
  • Consumer preferences for sustainable and durable tires
  • Integration of connected tire technology for enhanced performance
  • Customer education on EV-specific tire features

Investment and Funding Insights in Automotive:

  • Venture capital and private equity investments in EV tire technology
  • Mergers and acquisitions in the EV tire industry
  • Funding trends for sustainable tire development
  • Financial backing for tire manufacturers shifting to electric vehicle focus
  • Government grants and loans for R&D in tire innovations

Entry Strategies for Emerging Markets:

  • Identifying high-growth regions for EV adoption
  • Market entry barriers and challenges in emerging markets
  • Localization of tire designs for different regional conditions
  • Strategic alliances with local manufacturers and distributors
  • Pricing strategies for emerging market penetration
  • Understanding regulatory frameworks in emerging markets

Strategic Role of Automotive Ecosystems:

  • Collaboration between tire manufacturers and EV producers
  • Role of ecosystem partners (charging stations, battery manufacturers, etc.)
  • Integration of EV tire innovations with broader automotive technologies
  • Partnerships for joint product development and co-innovation
  • Ecosystem-driven supply chain optimization
  • Cross-industry collaborations to enhance EV tire adoption

Sustainability and ESG (Environmental, Social, Governance) in Automotive:

  • Environmental impact of EV tire production and disposal
  • Carbon footprint reduction in tire manufacturing processes
  • Social responsibility and labor practices in tire production
  • Governance standards for ethical manufacturing
  • Circular economy and tire recycling initiatives
  • Consumer demand for ESG-compliant products

Smart Tracking and Inventory Management:

  • Real-time tracking of tire inventory using IoT
  • Smart tire logistics and supply chain management
  • Integration of RFID and GPS for inventory optimization
  • Demand forecasting and inventory automation
  • Warehouse management innovations in tire storage
  • Data analytics for efficient inventory replenishment

Production and Consumption Insights:

  • Current production capacity vs. market demand for EV tires
  • Consumer adoption rate and its effect on tire production
  • Consumption trends in EV tire replacement cycles
  • Geographical distribution of tire demand
  • Key drivers of consumption (e.g., EV adoption rate, regulations)
  • Cost considerations for both production and consumption

Opportunity Assessment:

  • Market growth opportunities in developing EV markets
  • Emerging trends and unmet consumer needs in EV tire design
  • Potential for innovation in eco-friendly and smart tires
  • Expanding partnerships with electric vehicle OEMs
  • Opportunities in tire recycling and sustainability
  • Market gaps in premium EV tire segments

Supply Chain Intelligence and Operations Optimization:

  • Optimization of tire supply chains for cost and efficiency
  • Role of AI and machine learning in forecasting and planning
  • Supply chain risk management and resilience
  • Vendor management and multi-sourcing strategies
  • Logistic innovations for faster and more efficient tire delivery
  • Integration of blockchain for transparency in tire supply chains

Business Model Innovation:

  • Subscription and tire leasing models for EV owners
  • Direct-to-consumer (D2C) tire sales and delivery
  • Partnerships for integrated EV tire services (e.g., tire maintenance)
  • Digital tire sales platforms and online marketplaces
  • Innovative tire rental models for fleet operators
  • Pay-per-use models for EV tires in shared mobility ecosystems

Future Prospects and Innovations:

  • Future technological advancements in tire durability and performance
  • The role of autonomous vehicles in shaping tire design
  • Expansion of tire services (e.g., predictive maintenance, tire monitoring)
  • Impact of 5G and AI on tire optimization and smart technologies
  • Advancements in sustainable materials and processes
  • Long-term demand forecasts for EV tires and potential market shifts

Market Dynamics

  • Drivers
    • Increasing Demand for Electric Vehicles
    • Technological Advancements in Tire Manufacturing
  • Restraints
    • High Production Costs
    • Supply Chain Challenges
  • Opportunities
    • Growing Adoption of EVs in Emerging Markets
    • Expansion of Charging Infrastructure
  • Challenges
    • Limited EV Adoption in Certain Regions
    • Competition with Traditional Tire Manufacturers

Competitive Landscape

  • Market Share Analysis
  • Strategic Initiatives of Key Players
  • Mergers, Acquisitions, and Partnerships
  • Product Launches and Innovations

Conclusion

  • Summary of Key Findings
  • Recommendations for Stakeholders

About The Author

Laxmi Narayan is a seasoned Research Analyst at Towards Automotive, with 5 years of specialized experience in market research, analysis, and consulting within the automotive technology domain. With a strong educational foundation, holding a B.Tech in Electrical & Electronics Engineering and an MBA in Marketing & Operations; he brings a unique blend of technical knowledge and strategic insight to the forefront of automotive innovation.

At Towards Automotive, Laxmi Narayan focuses on the dynamic intersection of automotive systems and emerging technologies, with particular expertise in edge computing and blockchain applications in mobility. He has been instrumental in developing high-impact reports and insights on connected vehicle ecosystem decentralized automotive data frameworks, and the evolving infrastructure of intelligent transportation systems.

Drawing from his hands-on experience across primary research, secondary analysis, and consulting engagements, Laxmi Narayan delivers practical, forward-looking intelligence that helps stakeholders stay competitive in a rapidly evolving automotive landscape. His analytical depth, combined with a passion for transformative technologies, allows him to spot early signals in future mobility trends and turn them into actionable strategies.

FAQ's

The rising demand for EVs along with numerous government subsidies for EV adoption drives the market growth.

Up to 17”, 18\" to 21\" and Above 21\".

The top players in the industry includes Goodyear Tyres (U.S.), Sumitomo Rubber Industries (Japan) and some others.

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