Global sales of automotive tire stood at USD 240.9 billion in 2024. The industry is further projected to exhibit a y-o-y growth of 5.9% in 2025 and reach USD 256.1 billion in the same year and surging at a CAGR of 6.3% between 2025 and 2035, demand for the automotive tire is estimated to reach USD 471.7 billion by 2035.

The global automotive tire market is experiencing a significant surge, fueled by increasing vehicle production, advancements in tire technology, and growing demand for sustainable solutions. With the automotive industry shifting toward electric vehicles (EVs) and innovative tire designs, the market is projected to reach new heights in the coming years.

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The market is witnessing notable growth in response to rising vehicle ownership, with tires becoming an essential component of automotive safety, performance, and efficiency. Key drivers of this growth include:

·         Technological Advancements in Tire Design: The advent of smart tires, which feature embedded sensors that monitor tire pressure, temperature, and wear, has made significant impacts on both passenger and commercial vehicle markets. These innovations enhance safety, fuel efficiency, and longevity, offering significant value for consumers and businesses alike.

·         Increased Demand for Electric Vehicles: As the shift towards electric vehicles accelerates, tires designed for electric vehicles (EVs) are in high demand. EVs require specialized tires that can handle the added weight of the battery packs while ensuring optimized performance, reduced rolling resistance, and enhanced energy efficiency.

·         Sustainability and Eco-Friendly Tire Solutions: With rising environmental awareness, tire manufacturers are focusing on producing eco-friendly tires made from sustainable materials, including renewable resources and low-impact compounds. This aligns with the global automotive industry's broader sustainability goals and is expected to drive consumer preference for green tires.

·         Rising Vehicle Production: Despite challenges posed by global supply chain disruptions, vehicle production is steadily recovering and expanding in emerging economies. This rise in vehicle production directly correlates to the increasing demand for tires, with both replacement and new OEM tires in high demand.

Focus on Safety and Performance: Tires are a critical aspect of automotive safety. With safety regulations tightening, manufacturers are continuously improving tire performance, offering products that enhance grip, reduce braking distances, and provide better handling under various road conditions