Global Tires Rubber Market By Overview
A tire is a ring-shaped component that surrounds a wheel’s rim to transfer a vehicle's load from the axle through the wheel to the ground and to provide traction on the surface travelled over. Most tires, such as those for automobiles and bicycles, are pneumatically inflated structures, which also provide a flexible cushion that absorbs shock as the tire rolls over rough features on the surface. The materials of modern pneumatic tires are synthetic rubber, natural rubber, fabric and wire, along with carbon black and other chemical compounds. Pneumatic tires are used on many types of vehicles, including cars, bicycles, motorcycles, buses, trucks, heavy equipment, and aircraft.
Drivers and Restraints:
As lower maintenance costs and longer life of tires have become a high priority, innovations in designs in the global rubber tire market have also had a positive impact on the market. This is particularly true for electric cars, where lighter tires are being deemed a necessity. There has been increasing investments in research & development into the use of a variety of materials for the manufacture of rubber tires. The rubber tire market is expanding rapidly, as rubber tires are lightweight and possess superior thermal and molding characteristics. Increased mechanization of farming activities, consolidation of subsistence farms, and rise in commercial farming are driving the sales and usage of agricultural activities, and thereby, boosting the rubber tire market. Reconstruction projects are on the rise in developed countries, and the recovery of the global commodity market has improved the performance of the mining industry. Consequently, the sales of construction & mining vehicles are estimated to rise, and thereby, boost the rubber tire market. Rising consumer affordability, growing awareness about vehicle maintenance, and expansion of aftermarket dealerships are boosting the rubber tire market. However, volatility in the prices of raw material affects the costing of tires. The prices of commodities such as natural rubber and synthetic rubber have been rising due to a shortage of supply and rising demand. Uncertainties over the prices of crude oil, about supply between OPEC and non-OPEC countries, affect the production of synthetic rubber, which requires Brent crude for its production.
Segmentation:
The Tires & Rubber market is segmented based on material type, tire type, vehicle type, and region.
Based on the material type, the target market is segmented into natural rubber, synthetic rubber, elastomers, and others. Synthetic rubbers hold large market share, however, natural rubber is also anticipated to grow at a high pace during forecast period due to its durability and innovation. Based on the tire type, the global market is classified as pneumatic tires, run-flat tires, airless tires, and others. The pneumatic tires accounted for the largest share among others and also it is anticipated to register high market share during the forecast period. Based on vehicle type, the target market is bifurcated into light-duty vehicles, heavy-duty vehicle, agricultural tractors, construction & mining equipment, and industrial equipment. The heavy-duty vehicle has high demand due to its use in daily transport activities hence it is anticipated to register high CAGR value during the forecast period.
Based on the region the tires & rubber market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts highest revenue share to the tires & rubber market due to growing demand for advanced technologies and increasing use of automotive vehicles by geriatric population. Asia Pacific tires & rubber market is projected to register a high CAGR over the forecast period owing to the growing trend by technology moving at a rapid pace, the future is set to be bright for manufactures leveraging it to improve the manufacturing process of rubber tires.
Key Players:
The key players operating the Tires & Rubber market involves Apollo Tyres Ltd., Bridgestone Corporation, CEAT Ltd., Continental AG, Cooper Tire & Rubber Company, Giti Tire, Kumho Tire Co., Inc., MICHELIN, Nexen Tire Corporation, Nokian Tyre's plc. For instance, On September 27, 2017, Goodyear Tire and Rubber Company’s non-pneumatic tires TurfCommand with DuraWeb Technology is being used for commercial lawnmowers, and as a strategy, is also being developed for passenger and commercial vehicles. On August 13, 2019, Toyo Tires Introduces Opened Country SxS for Outdoor Enthusiasts, Its first dedicated tire for side-by-side vehicles.
Detailed Segmentation:
Tires & Rubber Market, By Material Type:
- Natural Rubber
- Synthetic Rubber
- Elastomers
- Others
Tires & Rubber Market, By Tire Type:
- Pneumatic Tires
- Run Flat Tires
- Airless Tires
- Others
Tires & Rubber Market, By Vehicle Type:
- Light-Duty Vehicles
- Heavy-Duty Vehicle
- Agricultural Tractors
- Construction & Mining Equipment
- Industrial Equipment
Tires & Rubber Market, By Region:
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- North America
- North America Tires & Rubber Market, By Material Type
- North America Tires & Rubber Market, By Tire Type
- North America Tires & Rubber Market, By Vehicle Type
- North America Tires & Rubber Market, By Country
- The U.S.
- Canada
- Europe
- Europe Tires & Rubber Market, By Material Type
- Europe Tires & Rubber Market, By Tire Type
- Europe Tires & Rubber Market, By Vehicle Type
- Europe Tires & Rubber Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Asia Pacific Tires & Rubber Market, By Material Type
- Asia Pacific Tires & Rubber Market, By Tire Type
- Asia Pacific Tires & Rubber Market, By Vehicle Type
- Asia Pacific Tires & Rubber Market, By Country
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Latin America Tires & Rubber Market, By Material Type
- Latin America Tires & Rubber Market, By Tire Type
- Latin America Tires & Rubber Market, By Vehicle Type
- Latin America Tires & Rubber Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Middle East & Africa Tires & Rubber Market, By Material Type
- Middle East & Africa Tires & Rubber Market, By Tire Type
- Middle East & Africa Tires & Rubber Market, By Vehicle Type
- Middle East & Africa Tires & Rubber Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- North America
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- Company Profile:
- Apollo Tyres Ltd.
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- Company Overview
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- Product Portfolio
- Key Highlights
- Financial Performance
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- Business strategies Bridgestone Corporation
- CEAT Ltd.
- Continental AG
- Cooper Tire & Rubber Company
- Giti Tire
- Kumho Tire Co., Inc.
- MICHELIN
- Nexen Tire Corporation
- Nokian Tyres plc
“*” marked represents similar segmentation in other categories in the respective section
Global Tires Rubber Market By Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Industry Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Tires & Rubber Strategies
- Key Questions this Study will Answer
- Market Snippet, By Material Type
- Market Snippet, By Tire Type
- Market Snippet, By Vehicle Type
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Material Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Natural Rubber
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Synthetic Rubber
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Elastomers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Market Segmentation, By Tire Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Pneumatic Tires
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Run Flat Tires
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Airless Tires
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Market Segmentation, By Vehicle Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Light-Duty Vehicles
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Heavy-Duty Vehicle
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Agricultural Tractors
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Construction & Mining Equipment
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Industrial Equipment
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Material Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Tire Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Vehicle Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Material Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Tire Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Vehicle Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Material Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Tire Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Vehicle Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Material Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Tire Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Vehicle Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Material Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Tire Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Vehicle Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Apollo Tyres Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business strategies Bridgestone Corporation
- CEAT Ltd.
- Continental AG
- Cooper Tire & Rubber Company
- Giti Tire
- Kumho Tire Co., Inc.
- MICHELIN
- Nexen Tire Corporation
- Nokian Tyres plc
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Tires & Rubber Market is segmented into Material Type, Tire Type, Vehicle Type and Region.
Growing automotive industry, increasing demand for fuel-efficient and eco-friendly tires, technological advancements in tire manufacturing, and the expanding use of rubber in various industries.
Fluctuating raw material prices, environmental concerns related to tire disposal, competition from alternative materials, and challenges in recycling and sustainable tire production.
North America, Europe, Asia-Pacific, Latin America. Asia-Pacific is expected to dominate due to the high demand for tires in countries like China and India. North America and Europe are also significant markets.
The key players operating the target market includes Emerson Electric Company, Apollo Tyres Ltd., Bridgestone Corporation, CEAT Ltd., Continental AG, Cooper Tire & Rubber Company, Giti Tire, Kumho Tire Co.,