PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461183
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1461183
Global Electric Vehicle Tires Market Size study & Forecast, by Vehicle Type By Propulsion Type (Battery Electric Vehicle, Hybrid Electric Vehicle ) By Sales Channel By Tire Size and Regional Analysis, 2023-2030
Global Electric Vehicle Tires Market is valued approximately at USD 17.24 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 28.07% over the forecast period 2023-2030. Electric Vehicle Tires refer to specially designed tires intended for use in electric vehicles to meet the unique characteristics and requirements of electric vehicles, which differ from traditional internal combustion engine vehicles. These tires include factors related to the electric drivetrain, vehicle weight distribution and the need to optimize efficiency and range. The Electric Vehicle Tires market is expanding because of factors such as rising number of electric vehicles and growing demand for light commercial vehicles. As a result, the demand of Electric Vehicle Tires has progressively increased in the international market during the forecast period 2023-2030.
Electric vehicles often have specific design and performance requirements due to their unique features, such as instant torque, heavy battery weight, and regenerative braking systems. Electric Vehicle Tires are designed to meet these specific needs, providing better traction, durability, and efficiency for electric vehicles compared to traditional internal combustion engine (ICE) vehicles.
According to Statista, the total number of electric bus registrations, in 2021 China accounts for 50,000 registrations followed by Europe with 4000 registrations and reached up to 54000 and 5000 registrations respectively in the year 2022. Another important factor driving the Electric Vehicle Tires market is increasing demand for light commercial vehicles. Electric vehicles, including LCVs, have specific requirements for tires due to the characteristics of electric drivetrains. Electric vehicles often have a higher torque at lower speeds, leading to increased wear on traditional tires. These tires are designed to handle the unique demands of electric vehicles, such as the need for efficient rolling resistance, longer tread life, and reduced road noise. In addition, as per Statista, the global Light Commercial Vehicles Market is anticipated to reach up to 20.63 million units by the year end of 2024 and the production of Light Commercial Vehicles is projected to reach up to 20.67 million units by the year 2028. Moreover, increasing disposable income and rising expenditure on eco-friendly vehicles is anticipated to create a lucrative growth opportunity for the market over the forecast period. However, lower lifespan and higher cost of EV tires is going to impede overall market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Electric Vehicle Tires Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising demand of electric vehicles in the region. Electric vehicles often have high-performance capabilities, with instant torque and rapid acceleration. Specialized Electric Vehicle Tires are designed to provide the necessary grip and traction to support the performance characteristics of EVs. Additionally, safety features, such as handling and braking performance, are crucial, and EV-specific tires are developed to meet these requirements. The region's dominant performance is anticipated to propel the overall demand of Electric Vehicle Tires. Furthermore, Europe is expected to grow fastest during the forecast period, owing to factors such as supportive government initiatives towards adoption of electric vehicle in the region. Governments often provide financial incentives and subsidies to both manufacturers and consumers to promote the adoption of electric vehicles. These incentives can include tax credits, rebates, or grants, which make electric vehicles more affordable.
Major market player included in this report are:
- The Michelin Group
- The Goodyear Tire & Rubber Company
- Sumitomo Rubber Industries, Ltd
- Toyo Tire Corporation
- Pirelli Tyre S.P.A.
- Bridgestone Corporation
- Trelleborg AB
- Hankook Tire & Technology Co., Ltd
- MRF Ltd
- Apollo Tyres Limited
Recent Developments in the Market:
- In January 2024, The Goodyear Tyre & Rubber Company has introduced its latest ElectricDrive tyre at CES 2024. The Goodyear ElectricDrive 2 is an all-season electric vehicle (EV) tyre featuring sustainable materials, improved rolling resistance, and long tread life to enhance drivers' EV performance. The new ElectricDrive 2 is the latest step in Goodyear's environment friendly, with at least 50% sustainable materials per tyre by weight.
Global Electric Vehicle Tires Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Vehicle Type, Propulsion Type, Sales Channel, Tire Size, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Propulsion Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
By Sales Channel
- OEM
- Aftermarket
By Tire Size
- Up to 17"
- 18" to 21"
- Above 21"
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Electric Vehicle Tires Market, by region, 2020-2030 (USD Billion)
- 1.2.2.Electric Vehicle Tires Market, by Vehicle Type, 2020-2030 (USD Billion)
- 1.2.3.Electric Vehicle Tires Market, by Propulsion Type, 2020-2030 (USD Billion)
- 1.2.4.Electric Vehicle Tires Market, by Sales Channel, 2020-2030 (USD Billion)
- 1.2.5.Electric Vehicle Tires Market, by Tire Size, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Electric Vehicle Tires Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Electric Vehicle Tires Market Dynamics
- 3.1.Electric Vehicle Tires Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Rising number of electric vehicles
- 3.1.1.2.Growing demand for light commercial vehicles
- 3.1.2.Market Challenges
- 3.1.2.1.Lower lifespan
- 3.1.2.2.Higher cost of EV tires
- 3.1.3.Market Opportunities
- 3.1.3.1.Increasing disposable income
- 3.1.3.2.Rising expenditure on eco-friendly vehicles
- 3.1.1.Market Drivers
Chapter 4.Global Electric Vehicle Tires Market: Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economic
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Electric Vehicle Tires Market, by Vehicle Type
- 5.1.Market Snapshot
- 5.2.Global Electric Vehicle Tires Market by Vehicle Type, Performance - Potential Analysis
- 5.3.Global Electric Vehicle Tires Market Estimates & Forecasts by Vehicle Type 2020-2030 (USD Billion)
- 5.4.Electric Vehicle Tires Market, Sub Segment Analysis
- 5.4.1.Passenger Car
- 5.4.2.Commercial Vehicle
Chapter 6.Global Electric Vehicle Tires Market, by Propulsion Type
- 6.1.Market Snapshot
- 6.2.Global Electric Vehicle Tires Market by Propulsion Type, Performance - Potential Analysis
- 6.3.Global Electric Vehicle Tires Market Estimates & Forecasts by Propulsion Type 2020-2030 (USD Billion)
- 6.4.Electric Vehicle Tires Market, Sub Segment Analysis
- 6.4.1.Battery Electric Vehicle (BEV)
- 6.4.2.Hybrid Electric Vehicle (HEV)
Chapter 7.Global Electric Vehicle Tires Market, by Sales Channel
- 7.1.Market Snapshot
- 7.2.Global Electric Vehicle Tires Market by Sales Channel, Performance - Potential Analysis
- 7.3.Global Electric Vehicle Tires Market Estimates & Forecasts by Sales Channel 2020-2030 (USD Billion)
- 7.4.Electric Vehicle Tires Market, Sub Segment Analysis
- 7.4.1.OEM
- 7.4.2.Aftermarket
Chapter 8.Global Electric Vehicle Tires Market, by Tire Size
- 8.1.Market Snapshot
- 8.2.Global Electric Vehicle Tires Market by Tire Size, Performance - Potential Analysis
- 8.3.Global Electric Vehicle Tires Market Estimates & Forecasts by Tire Size 2020-2030 (USD Billion)
- 8.4.Electric Vehicle Tires Market, Sub Segment Analysis
- 8.4.1.Up to 17"
- 8.4.2.18" to 21"
- 8.4.3.Above 21"
Chapter 9.Global Electric Vehicle Tires Market, Regional Analysis
- 9.1.Top Leading Countries
- 9.2.Top Emerging Countries
- 9.3.Electric Vehicle Tires Market, Regional Market Snapshot
- 9.4.North America Electric Vehicle Tires Market
- 9.4.1.U.S. Electric Vehicle Tires Market
- 9.4.1.1.Vehicle Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.2.Propulsion Type breakdown estimates & forecasts, 2020-2030
- 9.4.1.3.Sales Channel breakdown estimates & forecasts, 2020-2030
- 9.4.1.4.Tire Size breakdown estimates & forecasts, 2020-2030
- 9.4.2.Canada Electric Vehicle Tires Market
- 9.4.1.U.S. Electric Vehicle Tires Market
- 9.5.Europe Electric Vehicle Tires Market Snapshot
- 9.5.1.U.K. Electric Vehicle Tires Market
- 9.5.2.Germany Electric Vehicle Tires Market
- 9.5.3.France Electric Vehicle Tires Market
- 9.5.4.Spain Electric Vehicle Tires Market
- 9.5.5.Italy Electric Vehicle Tires Market
- 9.5.6.Rest of Europe Electric Vehicle Tires Market
- 9.6.Asia-Pacific Electric Vehicle Tires Market Snapshot
- 9.6.1.China Electric Vehicle Tires Market
- 9.6.2.India Electric Vehicle Tires Market
- 9.6.3.Japan Electric Vehicle Tires Market
- 9.6.4.Australia Electric Vehicle Tires Market
- 9.6.5.South Korea Electric Vehicle Tires Market
- 9.6.6.Rest of Asia Pacific Electric Vehicle Tires Market
- 9.7.Latin America Electric Vehicle Tires Market Snapshot
- 9.7.1.Brazil Electric Vehicle Tires Market
- 9.7.2.Mexico Electric Vehicle Tires Market
- 9.8.Middle East & Africa Electric Vehicle Tires Market
- 9.8.1.Saudi Arabia Electric Vehicle Tires Market
- 9.8.2.South Africa Electric Vehicle Tires Market
- 9.8.3.Rest of Middle East & Africa Electric Vehicle Tires Market
Chapter 10.Competitive Intelligence
- 10.1.Key Company SWOT Analysis
- 10.2.Top Market Strategies
- 10.3.Company Profiles
- 10.3.1.The Michelin Group
- 10.3.1.1.Key Information
- 10.3.1.2.Overview
- 10.3.1.3.Financial (Subject to Data Availability)
- 10.3.1.4.Product Summary
- 10.3.1.5.Recent Developments
- 10.3.2.The Goodyear Tire & Rubber Company
- 10.3.3.Sumitomo Rubber Industries, Ltd
- 10.3.4.Toyo Tire Corporation
- 10.3.5.Pirelli Tyre S.P.A.
- 10.3.6.Bridgestone Corporation
- 10.3.7.Trelleborg AB
- 10.3.8.Hankook Tire & Technology Co., Ltd
- 10.3.9.MRF Ltd
- 10.3.10.Apollo Tyres Limited
- 10.3.1.The Michelin Group
Chapter 11.Research Process
- 11.1.Research Process
- 11.1.1.Data Mining
- 11.1.2.Analysis
- 11.1.3.Market Estimation
- 11.1.4.Validation
- 11.1.5.Publishing
- 11.2.Research Attributes
- 11.3.Research Assumption
LIST OF TABLES
- TABLE 1.Global Electric Vehicle Tires Market, report scope
- TABLE 2.Global Electric Vehicle Tires Market estimates & forecasts by Region 2020-2030 (USD Billion)
- TABLE 3.Global Electric Vehicle Tires Market estimates & forecasts by Vehicle Type 2020-2030 (USD Billion)
- TABLE 4.Global Electric Vehicle Tires Market estimates & forecasts by Propulsion Type 2020-2030 (USD Billion)
- TABLE 5.Global Electric Vehicle Tires Market estimates & forecasts by Sales Channel 2020-2030 (USD Billion)
- TABLE 6.Global Electric Vehicle Tires Market estimates & forecasts by Tire Size 2020-2030 (USD Billion)
- TABLE 7.Global Electric Vehicle Tires Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 8.Global Electric Vehicle Tires Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 9.Global Electric Vehicle Tires Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 10.Global Electric Vehicle Tires Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 11.Global Electric Vehicle Tires Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 12.Global Electric Vehicle Tires Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 13.Global Electric Vehicle Tires Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 14.Global Electric Vehicle Tires Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 15.Global Electric Vehicle Tires Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 16.Global Electric Vehicle Tires Market by region, estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 17.U.S. Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 18.U.S. Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 19.U.S. Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 20.Canada Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 21.Canada Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 22.Canada Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 23.UK Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 24.UK Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 25.UK Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 26.Germany Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 27.Germany Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 28.Germany Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 29.France Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 30.France Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 31.France Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 32.Italy Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 33.Italy Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 34.Italy Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 35.Spain Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 36.Spain Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 37.Spain Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 38.RoE Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 39.RoE Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 40.RoE Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 41.China Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 42.China Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 43.China Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 44.India Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 45.India Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 46.India Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 47.Japan Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 48.Japan Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 49.Japan Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 50.South Korea Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 51.South Korea Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 52.South Korea Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 53.Australia Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 54.Australia Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 55.Australia Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 56.RoAPAC Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 57.RoAPAC Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 58.RoAPAC Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 59.Brazil Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 60.Brazil Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 61.Brazil Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 62.Mexico Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 63.Mexico Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 64.Mexico Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 65.RoLA Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 66.RoLA Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 67.RoLA Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 68.Saudi Arabia Electric Vehicle Tires Market estimates & forecasts, 2020-2030 (USD Billion)
- TABLE 69.South Africa Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 70.RoMEA Electric Vehicle Tires Market estimates & forecasts by segment 2020-2030 (USD Billion)
- TABLE 71.List of secondary sources, used in the study of global Electric Vehicle Tires Market
- TABLE 72.List of primary sources, used in the study of global Electric Vehicle Tires Market
- TABLE 73.Years considered for the study
- TABLE 74.Exchange rates considered
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
LIST OF FIGURES
- FIG 1.Global Electric Vehicle Tires Market, research methodology
- FIG 2.Global Electric Vehicle Tires Market, Market estimation techniques
- FIG 3.Global Market size estimates & forecast methods
- FIG 4.Global Electric Vehicle Tires Market, key trends 2022
- FIG 5.Global Electric Vehicle Tires Market, growth prospects 2023-2030
- FIG 6.Global Electric Vehicle Tires Market, porters 5 force model
- FIG 7.Global Electric Vehicle Tires Market, pest analysis
- FIG 8.Global Electric Vehicle Tires Market, value chain analysis
- FIG 9.Global Electric Vehicle Tires Market by segment, 2020 & 2030 (USD Billion)
- FIG 10.Global Electric Vehicle Tires Market by segment, 2020 & 2030 (USD Billion)
- FIG 11.Global Electric Vehicle Tires Market by segment, 2020 & 2030 (USD Billion)
- FIG 12.Global Electric Vehicle Tires Market by segment, 2020 & 2030 (USD Billion)
- FIG 13.Global Electric Vehicle Tires Market by segment, 2020 & 2030 (USD Billion)
- FIG 14.Global Electric Vehicle Tires Market, regional snapshot 2020 & 2030
- FIG 15.North America Electric Vehicle Tires Market 2020 & 2030 (USD Billion)
- FIG 16.Europe Electric Vehicle Tires Market 2020 & 2030 (USD Billion)
- FIG 17.Asia pacific Electric Vehicle Tires Market 2020 & 2030 (USD Billion)
- FIG 18.Latin America Electric Vehicle Tires Market 2020 & 2030 (USD Billion)
- FIG 19.Middle East & Africa Electric Vehicle Tires Market 2020 & 2030 (USD Billion)
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
