Tire Market is Projected to Grow USD 272.6 Billion by 2034 | At CAGR 4.33% During 2026-2034

The global tire market size to reach USD 272.6 Billion by 2034, exhibiting a growth rate (CAGR) of 4.33% during 2026-2034.

NEW YORK, NY, UNITED STATES, February 5, 2026 /EINPresswire.com/ -- IMARC Group has recently released a new research study titled "Tire Market Size, Share, Trends and Forecast by Design, End-Use, Vehicle Type, Distribution Channel, Season, and Region, 2026-2034", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

The global tire market size reached USD 181.1 Billion in 2025 and is projected to grow to USD 272.6 Billion by 2034, reflecting a CAGR of 4.33% for the forecast period 2026-2034. Growth is driven primarily by continuous technological advancements in tire manufacturing and the increasing demand for eco-friendly, specialized tires amid rising environmental awareness.

𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐋𝐢𝐧𝐤: https://www.imarcgroup.com/tyre-manufacturing-plant/requestsample

𝗦𝘁𝘂𝗱𝘆 𝗔𝘀𝘀𝘂𝗺𝗽𝘁𝗶𝗼𝗻 𝗬𝗲𝗮𝗿𝘀

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

𝗧𝗶𝗿𝗲 𝗠𝗮𝗿𝗸𝗲𝘁 𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀

• Current Market Size: USD 181.1 Billion in 2025
• CAGR: 4.33%
• Forecast Period: 2026-2034
• Increasing vehicle sales and tire demand in emerging economies are significant growth drivers.
• Stricter government regulations on tire performance and sustainability are bolstering market growth.
• Rising popularity of specialized tires and tires designed for electric vehicles (EVs) is fueling demand.
• Asia Pacific dominates the market owing to a high number of automobiles and economic growth.
• Price fluctuations in raw materials pose challenges; however, shift towards bio-based oils offers new opportunities.

𝗕𝘂𝘆 𝗡𝗼𝘄: https://www.imarcgroup.com/checkout?id=575&method=3451

𝗠𝗮𝗿𝗸𝗲𝘁 𝗚𝗿𝗼𝘄𝘁𝗵 𝗙𝗮𝗰𝘁𝗼𝗿𝘀

The rising vehicle sales, particularly in emerging economies, significantly boost tire demand. This uptrend is supported by increasing expenditure capacities and production of passenger and commercial vehicles. For example, passenger vehicle sales in India showed a 14.19% growth in October 2020 compared to the prior year. Government regulations promoting fuel efficiency, safety, and emissions reduction globally also drive tire market growth, with rules such as India's Central Motor Vehicles Rules amendments and the EU's Euro 7 standards enhancing tire performance and environmental compliance.

Technological advancements in tire manufacturing are crucial drivers. Companies are investing heavily in R&D to produce tires with improved fuel efficiency, durability, and performance. Innovations include Pirelli's all-season P Zero AS Plus 3, Michelin's lightweight Air X SkyLight tire for aviation, and Sumitomo's FALKEN e. ZIEX tires for EVs. Sustainable materials like Eco-SSBR are increasingly adopted following partnerships such as Kumho Petrochemical and Hankook's MOU to launch eco-friendly tires.

Infrastructure development and urbanization in regions like China and India increase construction and commercial vehicle sales, opening aftermarket and replacement tire opportunities. Consumers prefer high-performance tires, as evidenced by European markets where OEMs like BMW and Volkswagen engage in motorsports to showcase innovations. The automotive industry's shift towards electrification and meeting Corporate Average Fuel Economy (CAFE) standards by 2025 is another strong growth catalyst.

𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗗𝗲𝘀𝗶𝗴𝗻:

• Radial Market: Accounts for the majority of market share, driven by applications such as golf carts and innovative airless tires called tweels by Michelin for tactical and light vehicles.
• Bias Market: Not detailed further in the source.

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗘𝗻𝗱-𝗨𝘀𝗲:

• OEM Market: Not quantified but distinguished from replacement market.
• Replacement Market: Largest market share; growth fueled by demand for fuel economy, convenience, and product durability. Green energy focus by producers aiming for carbon neutrality by 2050 is influencing product development.

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐓𝐲𝐩𝐞:

• Passenger Cars: Leading segment due to the increasing number of passenger vehicles globally.
• Light Commercial Vehicles: Included.
• Medium and Heavy Commercial Vehicles: Included.
• Two Wheelers: Included.
• Three Wheelers: Included.
• Off-The-Road (OTR): Included.

𝐁𝐫𝐞𝐚𝐤𝐮𝐩 𝐛𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥:

• Offline: Holds the largest market share; valued for direct inspection, professional advice, immediate installation, and value-added services like wheel alignment.
• Online: Present but smaller share.

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗦𝗲𝗮𝘀𝗼𝗻:

• All Season Tires: Included.
• Winter Tires: Included.
• Summer Tires: Largest segment globally; designed for dry, warm or wet climates, offering better grip, handling, stability, and frequently used in performance vehicles.

𝗕𝗿𝗲𝗮𝗸𝘂𝗽 𝗯𝘆 𝗥𝗲𝗴𝗶𝗼𝗻:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
• Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)

𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗜𝗻𝘀𝗶𝗴𝗵𝘁𝘀

Asia Pacific is the leading region in the tire market, attributed to rapid growth in passenger and commercial vehicles, especially in China. The region features extensive R&D investments in tire pressure management systems and strategic partnerships to meet domestic and international demand. The popularity of two-wheeler tires also supports regional market growth.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 & 𝐍𝐞𝐰𝐬

• June 2025: Bridgestone launched the Turanza EverDrive touring tire for sedans, CUVs, and minivans, featuring an 80,000-mile warranty and improved performance in wet, dry, and light snow conditions.
• March 2025: CEAT launched the SportDrive range in India with innovations suited for luxury and high-performance cars, including run-flat technology.
• February 2025: Eurogrip introduced SCR and STR variants in India targeting modern classic motorcycles and adventure bikes respectively.
• December 2023: Sailun Group expanded investment for a tire plant in León, Guanajuato, Mexico through a joint venture with TD International Holding.
• October 2023: TVS Srichakra acquired Super Grip (USA) to enter off-highway tire business.

𝗞𝗲𝘆 𝗣𝗹𝗮𝘆𝗲𝗿𝘀

• Apollo Tyres Ltd.
• Bridgestone Corporation
• Continental AG
• Hankook Tire & Technology Co., Ltd.
• Kumho Tire Co., Inc.
• Michelin
• MRF Tyres
• Pirelli Tyre C. S.p.A
• Sumitomo Rubber Industries, Ltd.
• The Goodyear Tire & Rubber Company
• The Yokohama Rubber Co., Ltd.
• Toyo Tire Corporation

𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗡𝗼𝘁𝗲:

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

𝗔𝗯𝗼𝘂𝘁 𝗨𝘀

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

Elena Anderson
IMARC Services Private Limited
+1 201-971-6302
email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.