The global demand for Electric Vehicle Tires Market is presumed to reach the market size of nearly USD 237.39 BN by 2032 from USD 23.6 BN in 2023 with a CAGR of 29.24% under the study period 2024 - 2032.
Electric Vehicle (EV) tires are specialized tires designed specifically for electric vehicles. These tires take into account the unique characteristics and requirements of electric vehicles, which differ from traditional internal combustion engine vehicles.
Market Dynamics
The Electric Vehicle (EV) Tires market is experiencing growth propelled by the increasing adoption of electric vehicles worldwide. Key drivers include the emphasis on low rolling resistance to enhance energy efficiency and extend the range of electric vehicles. Supportive government incentives and regulations promoting eco-friendly mobility create a favorable market environment. Growing environmental awareness among consumers drives demand for sustainable and energy-efficient tire options. Ongoing advancements in tire technology, innovative designs, and collaborative efforts between tire manufacturers and electric vehicle makers contribute to the development of high-performance EV tires. Mitigating range anxiety, enhancing safety, and addressing the unique characteristics of electric vehicles are priorities influencing tire innovation. The broader trend towards sustainability in the automotive industry and the shift towards electric mobility collectively fuel the growth of the EV Tires market, marking a pivotal transition towards eco-conscious and efficient mobility solutions.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of electric vehicle tires. The growth and trends of electric vehicle tires industry provide a holistic approach to this study.
Market Segmentation
This section of the electric vehicle tires market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Propulsion Type
- Battery Electric Vehicle (Bev)
- Hybrid Electric Vehicle (Hev)
By Sales Channel
By Tire Size
- Up To 17
- 18 Το 21
- Above 21
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Electric Vehicle Tires market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Electric Vehicle Tires Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the Electric Vehicle Tires market include Michelin (France), Continental AG (Germany), Goodyear Tvres (U.S.), Sumitomo Rubber Industries (Japan), Nokian Tires (Finland), Toyo Tyres (Japan), PIRELLI TYRE S.P.A. (Italy), Bridgestone Corporation (Japan), Trelleborg AB (Sweden), Hankook Tire & Technology (South Korea). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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