Tires Market to Surpass USD 191.24 Billion by 2032, Driven by Vehicle Production, EV Demand, and Global Tire Industry Growth: Maximize Market Research
PUNE, India, Feb. 5, 2026 /PRNewswire/ -- Global Tires Market, valued at USD 143.38 Billion in 2025, is projected to reach USD 191.24 Billion by 2032, growing at a CAGR of 4.2%.
Global Tires Market is set for steady growth, driven by increasing vehicle production, rising adoption of electric and premium vehicles, expansion of OEM partnerships, and innovations in smart, eco-friendly, and performance-oriented tire technologies across passenger and commercial segments worldwide.
"Maximize Market Research reports global Tires Market revolution; radial, EV, and smart tires are driving innovation and automotive industry growth!"
Key Market Trends & Insights from the Global Tires Market Report
By Tire Type, Radial Tires Dominate the Market: Radial tires accounted for the largest share in 2024, driven by their durability, fuel efficiency, and growing adoption in commercial vehicles, passenger cars, and electric vehicles (EVs). Bias tires, while less expensive and providing a smoother ride over uneven surfaces, continue to see demand in niche industrial and agricultural applications. The global radial tires market is projected to grow steadily, with increasing application in mining, construction, and high-performance vehicles.
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Passenger Car Tires Lead Market Demand: The passenger car tires segment held the largest revenue share in 2024 and is expected to maintain strong growth through 2032. Rising demand for premium, luxury, and safety-focused vehicles, combined with increasing per capita income and urbanization, are driving consumer preference for advanced and reliable passenger car tires. In the U.S., passenger car tires accounted for approximately 27% of the total market in 2024, while Asia-Pacific continues to lead in volume sales.
OEM Segment Dominates Tire Distribution: Original Equipment Manufacturer (OEM) tires represented over 70% of global market revenue in 2024, supported by rising global vehicle production and stable automobile output. Increasing consumer awareness of road safety and tire performance efficiency has driven tire manufacturers to focus on high-quality OEM solutions. The aftermarket segment, accounting for around 12% of the market in 2024, is projected to expand with increasing vehicle lifespans and demand for replacement tires.
Electric Vehicle (EV) Tires Fuel Market Growth: The global EV tires market is rapidly expanding as electric vehicle adoption accelerates, particularly in China, Europe, and North America. Customers increasingly demand environmentally sustainable and low-rolling-resistance tires, creating opportunities for manufacturers to innovate in smart and eco-friendly tire technologies. By 2030, EV tires are expected to account for a significant portion of the premium and replacement tire market globally.
Asia-Pacific Remains the Largest Tire Market: In 2024, Asia-Pacific accounted for 48% of global tire sales, led by China, India, and Japan, which together represent 72% of the regional market. Low manufacturing costs, expanding automotive production, and government incentives for road infrastructure development continue to drive the region's tire market growth. The Asia-Pacific tire market is projected to grow at a CAGR of 5.3% during the forecast period.
Next-Generation Tire Technologies: Advanced tire technologies such as smart tires, run-flat tires, and eco-friendly compounds are expected to drive the next wave of innovation in the tire market. Focus areas include improved traction, fuel efficiency, longer lifespan, and integration with vehicle sensors for predictive maintenance. Leading players, including Michelin, Bridgestone, Goodyear, Continental, and Pirelli, are investing heavily in R&D to capitalize on these emerging trends.
Competitive Landscape: Key players dominate the global tire market through strategic partnerships, mergers, and expansion in emerging markets. Companies such as Bridgestone, Michelin, Goodyear, Continental, and Pirelli maintain strong market shares through diverse product portfolios, technological innovation, and regional presence. Competitive differentiation is increasingly driven by eco-friendly products, premium tire offerings, and alignment with automotive OEMs for electric and high-performance vehicles.
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Radial Tires and Passenger Cars Drive Global Tires Market: Discover Which Segments Are Fueling USD 191.24 Billion Growth by 2032
Global Tires Market is driven by the dominance of radial tires, catering to rising passenger car and commercial vehicle demand worldwide. With OEM tires leading distribution, innovations in electric vehicle tires and smart tire technologies are reshaping the industry. As Asia-Pacific emerges as a growth hub, understanding which tire types and vehicle segments are propelling revenue offers investors and manufacturers a strategic edge in this fast-evolving global tire market.
By Type
Radial Tires
Bias Tires
Non-Pneumatic Tires
By Vehicle Type
Passenger Cars
Commercial Cars
Off-Road Cars
By Distribution Channel
OEM
Aftermarket
Scope of the report includes below the tires:
Passenger Vehicle Tires
- Radial Tires
- Bias Tires
Commercial Vehicle Tires
- Truck Tires
- Bus Tires
Two-Wheeler Tires
Off-the-Road (OTR) Tires
- Agricultural Tires
- Industrial Tires
- Construction Tires
- Mining Tires
Specialty Tires
- Run-flat Tires
- High-Performance Tires
- Winter/Snow Tires
- All-Season Tires
- Trailer Tires
Tire Technologies
- Bias Ply Tires
- Radial Tires
- Tubeless Tires
- Self-Sealing Tires
- Reinforced / Heavy-Duty Tires
Vehicle Applications
- Passenger Cars
- Light Commercial Vehicles (LCVs)
- Heavy Commercial Vehicles (HCVs)
- Buses & Coaches
- Two-Wheelers
- Three-Wheelers
- Off-Road Vehicles
Some of the innovations and upcoming technologies in the pipeline include:
- Smart Connected Tires with embedded sensors for real-time monitoring
- Airless / Non-Pneumatic Tires (e.g., Michelin Uptis)
- Low Rolling Resistance Tires for improved EV range
- Sustainable / Bio-Material Tires using natural or recycled rubber
- Advanced Winter and All-Season Compounds for extreme conditions
- Run-Flat and Enhanced Safety Tires for luxury and performance segments
- Noise-Reducing Ultra-Comfort Tires for EVs and premium vehicles
- 3D Printed / Additive Manufactured Tires for customization and rapid prototyping
Goodyear, Cooper, Avon, and Continental Shake the Global Tires Market: Major Acquisitions, Product Launches, and Innovations Revealed (2021–2026)
On June 7, 2021 – Goodyear Tire & Rubber Company (U.S.) completed its USD 2.8 billion acquisition of Cooper Tire, expanding its global portfolio and mobility solutions. 2025–2026, Cooper Tire & Rubber Company (U.S.) integrated as Goodyear's strategic EMEA brand. In 2026 – Avon Tyres (U.K.) relaunched its iconic Cobra Chrome range, enhancing cruiser rider appeal. On January 20, 2026, Continental AG (Germany) unveiled the Terra Adventure GraphiteReflex tire, boosting off-road performance and visibility.
Asia-Pacific and North America: Key Regions Driving Global Tires Market Growth and EV Tire Innovation Through 2032
Asia-Pacific dominates the global Tires Market, fueled by booming passenger car and commercial vehicle sales, low-cost manufacturing, and surging electric vehicle tire demand. With China, India, and Japan leading production and innovation, this region is shaping the future of the OEM and replacement tire market. Discover why Asia-Pacific remains the strategic growth hub for tire manufacturers through 2032.
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North America ranks as the second-largest Tires Market, led by the U.S., driven by high vehicle ownership, rising premium and EV tire demand, and strong OEM partnerships. With innovation in radial, run-flat, and performance tires, strict safety regulations, and stable automotive production, the region continues to shape global tire trends, offering lucrative opportunities for manufacturers and investors.
Tires Market, Key Players:
- Cooper Tire & Rubber Company (U.S)
- Goodyear Tire & Rubber Company (U.S)
- Avon Tyres (U.K)
- Continental AG (Germany)
- MITAS A.S. (Czech Republic)
- Michelin (France)
- Nokian Tyres Oyj (Finland)
- Pirelli & C. S.p.A (Italy)
- Apollo Tyres Ltd (India)
- MRF (India)
- CEAT (India)
- JK Tyre & Industries Ltd (India)
- Madras Rubber Factory Ltd. (India)
- Bridgestone Corporation (Japan)
- Toyo Tire & Rubber Co., Ltd. (Japan)
- Sumitomo Corporation (Japan)
- Yokohama Tire Corporation (Japan)
- Giti Tire Pte. Ltd (Singapore)
- Cheng Shin Rubber Ind. Co. Ltd (Taiwan)
- Maxxis International (Taiwan)
- Hankook Tire Co., Ltd (South Korea)
- Kumho Tire Co., Inc (South Korea)
- Nexen Tire Corporation (South Korea)
- Zhongce Rubber Group Co., Ltd. (China)
- Sailun Group Co. Ltd. (China)
- Shandong Linglong Tire Co., Ltd (China)
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FAQs:
1. What is the projected growth of the global Tires Market by 2032?
Ans: Global Tires Market is projected to grow from USD 143.38 Billion in 2025 to USD 191.24 Billion by 2032, at a CAGR of 4.2%, driven by rising vehicle production, EV tire demand, and innovations in smart and eco-friendly tire technologies.
2. Which tire types and vehicle segments dominate the market?
Ans: Radial tires lead the market due to durability, fuel efficiency, and widespread use in passenger cars, commercial vehicles, and electric vehicles. Passenger car tires hold the largest revenue share, while OEM tires dominate distribution, shaping global tire trends across both replacement and new vehicle markets.
3. Which regions are key drivers of global tire market growth?
Ans: Asia-Pacific dominates, fueled by China, India, and Japan, with high vehicle sales, low-cost manufacturing, and surging EV tire demand. North America ranks second, driven by premium and EV tires, high vehicle ownership, OEM partnerships, and continuous innovations in radial, run-flat, and performance tires.
Analyst Perspective:
Observers note that the global Tires Market is undergoing significant transformation, fueled by the rising adoption of radial, EV, and smart tires, alongside innovations in run-flat and eco-friendly technologies. Key industry players such as Goodyear, Michelin, and Continental are actively pursuing acquisitions, product launches, and regional expansion, with Asia-Pacific leading in volume adoption and North America driving premium and performance segments. The market reflects strong competitive potential, evolving dynamics, and strategic opportunities for manufacturers and investors alike.
Related Reports:
Connected Tires Market: https://www.maximizemarketresearch.com/market-report/connected-tires-market/209393/
Flexion Tires Market: https://www.maximizemarketresearch.com/market-report/flexion-tires-market/122675/
High-performance Tires Market: https://www.maximizemarketresearch.com/market-report/global-high-performance-tires-market/120926/
Bicycle Tires Market: https://www.maximizemarketresearch.com/market-report/global-bicycle-tires-market/119995/
Global Electricity Generating Tires Market - https://www.maximizemarketresearch.com/market-report/global-electricity-generating-tires-market/87877/
Domain Focus – Automotive and Transportation for Tire Market:
With a proven track record in delivering high-impact analysis, Maximize Market Research supports clients in understanding regional adoption, OEM dynamics, EV tire demand, and smart tire innovations. Our expertise enables businesses to capitalize on emerging opportunities, optimize strategies, and strengthen their presence in the global Tires Market while navigating competitive and technological shifts.
About Maximize Market Research:
Maximize Market Research delivers in-depth insights into the Tires Market, providing actionable intelligence and strategic guidance across the Automotive & Transportation domain. Our research identifies market trends, competitive dynamics, and technological innovations, empowering manufacturers, investors, and stakeholders to make informed decisions in this rapidly evolving global tire industry.
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