PUBLISHER: Grand View Research | PRODUCT CODE: 1654527
PUBLISHER: Grand View Research | PRODUCT CODE: 1654527
The global automotive tire market size is expected to reach USD 620.3 million by 2030, according to a new report by Grand View Research, Inc., growing at a CAGR of 6.3% from 2025 to 2030. Increasing automotive sales especially in countries such as China, India, Japan, and South Korea is anticipated to favorably impact the global automotive tire market over the forecast period. This growth can be attributed to rising disposable income and improvement in the overall lifestyle of consumers.
Technological proliferation and the development of the innovative and environment-friendly green tires have opened up broad growth avenues for the industry participants. Moreover, increasing radial tire up gradation activities owing to its benefits such lesser vibrations, reduced fuel consumption and extended tire life due to less heat generated has favorably impacted the industry growth.
However, stringent emission norms by governments and regulatory authorities worldwide are expected to challenge demand. For example, on September 1, 2010, the California Air Resources Board's (ARB's) Tire Pressure Regulation was formulated to reduce greenhouse gas emissions from vehicles operating with underneath inflated tires by inflating them to the suggested pressure rating.