Tires are ring-shaped elastic rubber products that roll on the ground and are assembled on various vehicles or machinery. Usually installed on a metal rim, it can support the body, buffer external impacts, achieve contact with the road and ensure the driving performance of the vehicle.
Tires are often used under complex and harsh conditions. They are subject to various deformations, loads, and high and low temperature effects when driving. Therefore, they must have high load-bearing performance, traction performance, and cushioning performance. At the same time, high wear resistance and flex resistance, as well as low rolling resistance and heat generation are also required.
According to the new market research report “Tire – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Tire market size is projected to reach USD 225.26 billion by 2029, at a CAGR of 4.5% during the forecast period.
- Global Tire MarketSize(US$ Million), 2018-2029
Source: QYResearch, “Tire – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Tire Top24Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, “Tire – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
The global key manufacturers of Tire include Bridgestone, Michelin, GoodYear, Continental, Sumitomo, Pirelli, Hankook, Yokohama, Zhongce Rubber, Apollo Tyres, etc.
In 2022, the global top five players had a share approximately 60.0% in terms of revenue.
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