Global Electric Vehicle Tires
Market Report
2024
The global electric vehicle tires market will be USD 3.2 billion in 2024. It will show vigorous growth, with a compound annual growth rate (CAGR) of 21.4% from 2024 to 2031. The expansion can be assigned to the growing requirement for tires that enhance EV range and improve energy efficiency.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global electric vehicle tires market size will be USD 3.2 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 21.4% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Market Size | 121212 |
Country Market Size | 121212 |
North Americ Market Size | 121212 |
Europe Market Size | 121212 |
Asia Pacific Market Size | 121212 |
South America Market Size | 121212 |
Middle East and Africa Market Size | 121212 |
Market Split by Propulsion Type |
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Market Split by Vehicle Type |
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Market Split by Load Index |
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Market Split by Application |
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Market Split by Rim Size |
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Market Split by Sales Channel |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of Electric Vehicle Tires industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Electric Vehicle Tires Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Electric vehicle (EV) tires are specialized tires designed to meet the unique performance, efficiency, and durability needs of electric vehicles. Unlike traditional tires, EV tires are engineered to handle higher torque, reduce rolling resistance, and support the heavier weight of battery packs. The market for EV tires is experiencing significant growth, fueled by the rapid adoption of electric vehicles globally. Key factors fueling this growth include increased consumer awareness of the environmental benefits of EVs, stringent government regulations promoting clean energy, and advancements in tire technology that enhance energy efficiency and vehicle range. Additionally, expanding charging infrastructure and rising urbanization are contributing to the demand for EV-specific tires. However, challenges such as high costs, limited availability, and technological complexities pose restraints to the market. Despite these hurdles, the ongoing innovation and supportive policies are expected to propel the EV tire market forward.
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In August 2023, Hankook Tire & Technology introduced an exclusive technology system for its 'iON' tire brand aimed at electric vehicles (EVs) to streamline the R&D process and improve customer engagement. This initiative enhanced their existing EV technology significantly under the newly established 'iON INNOVATIVE TECHNOLOGY' system, leveraging the brand's reputation in the EV tire market. (Source: https://www.hankook-motorsports.com/en/media/news-detail.628703.html)
Top Companies Market Share in Electric Vehicle Tires Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America ruled the market in 2024 and accounted for around 40% of the global revenue. North America dominates the electric vehicle tires market due to its robust EV adoption rates, advanced technological landscape, strong regulatory support, and significant investments in research and development, driving continuous innovations and improvements in EV tire performance and efficiency.
The Asia Pacific region is the fastest-growing market for electric vehicle tires, driven by rapid EV adoption, supportive government policies, and significant investments in infrastructure. Increasing consumer awareness and technological advancements in tire manufacturing further fuel this growth, positioning the region as a key player in the EV tire industry.
The current report Scope analyzes Electric Vehicle Tires Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Electric Vehicle Tires Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Electric Vehicle Tires Industry growth. Electric Vehicle Tires market has been segmented with the help of its Propulsion Type, Vehicle Type Load Index, and others. Electric Vehicle Tires market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for Electric Vehicle Tires market.
Propulsion Type of Electric Vehicle Tires analyzed in this report are as follows:
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This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of Electric Vehicle Tires from 2019 to 2031. This will also help to analyze the demand for Electric Vehicle Tires across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Vehicle Type of Electric Vehicle Tires are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to cognitive market research, on-road applications hold a major share of the electric vehicle tires market due to the predominant use of EVs in urban and highway settings. The demand for tires that provide optimal performance, safety, and efficiency on paved roads is driving this segment's growth. As electric vehicles become increasingly popular for daily commuting and long-distance travel, the need for specialized on-road tires that enhance range and durability continues to rise, solidifying this segment's significant market share.
Research Analyst at Cognitive Market Research
I am a research analyst working in the Transport & Logistics domain, and my primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. I have knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively. I stay up-to-date with the latest research trends, methodologies, and technologies to ensure that my research is accurate, relevant, and impactful.
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Electric Vehicle Tires Market is witnessing significant growth in the near future.
In 2023, the Battery Electric Vehicle (BEV) segment accounted for noticeable share of global Electric Vehicle Tires Market and is projected to experience significant growth in the near future.
The Passenger Cars segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Michelin (France) , The Goodyear Tire & Rubber Corporation (US) and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Propulsion Type | Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV), Fuel Cell Electric Vehicle (FCEV) |
Vehicle Type | Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, Buses |
Load Index | Less Than 100, Above 100 |
Application | On-road, Off-road |
Rim Size | 13-15”, 16-18”, 19-21”, >21” |
Sales Channel | OEM, Aftermarket |
List of Competitors | Michelin (France), Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Corporation (US), Continental AG (Germany), Pirelli & C. SpA (Italy) |
This chapter will help you gain GLOBAL Market Analysis of Electric Vehicle Tires. Further deep in this chapter, you will be able to review Global Electric Vehicle Tires Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Propulsion Type Analysis 2019 -2031, will provide market size split by Propulsion Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Propulsion Type Analysis 2019 -2031
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Chapter 11 Market Split by Vehicle Type Analysis 2019 -2031
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Chapter 12 Market Split by Load Index Analysis 2019 -2031
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Chapter 13 Market Split by Application Analysis 2019 -2031
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Chapter 14 Market Split by Rim Size Analysis 2019 -2031
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Chapter 15 Market Split by Sales Channel Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Electric Vehicle Tires market
Chapter 16 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Battery Electric Vehicle (BEV) have a significant impact on Electric Vehicle Tires market? |
What are the key factors affecting the Battery Electric Vehicle (BEV) and Plug-In Hybrid Electric Vehicle (PHEV) of Electric Vehicle Tires Market? |
What is the CAGR/Growth Rate of Passenger Cars during the forecast period? |
By type, which segment accounted for largest share of the global Electric Vehicle Tires Market? |
Which region is expected to dominate the global Electric Vehicle Tires Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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