PUBLISHER: The Business Research Company | PRODUCT CODE: 1686360
PUBLISHER: The Business Research Company | PRODUCT CODE: 1686360
EV Tires Global Market Report 2025
Electric vehicle (EV) tires typically refer to automotive tires designed specifically for electric vehicles (EVs). These tires are engineered to meet the unique requirements and characteristics of electric-powered cars. It enhances the overall efficiency, safety, and driving experience of electric vehicles.
The main types of EV tire products are radial tires, bias tires, composite tires, and others. Radial tires refer to a type of tire construction where the tire's internal ply cords run perpendicular (90 degrees) to the direction of travel, from bead to bead. They are used in various vehicles, such as passenger cars, two-wheelers, and three-wheelers, and commercial vehicles, and distributed through several distribution channels, including original equipment and aftermarket.
The main types of EV tire products are radial tires, bias tires, composite tires, and others. Radial tires refer to a type of tire construction where the tire's internal ply cords run perpendicular (90 degrees) to the direction of travel, from bead to bead. They are used in various vehicles, such as passenger cars, two-wheelers, and three-wheelers, and commercial vehicles, and distributed through several distribution channels, including original equipment and aftermarket.
The EV tires market size has grown rapidly in recent years. It will grow from $18.78 billion in 2024 to $20.67 billion in 2025 at a compound annual growth rate (CAGR) of 10.1%. The growth in the historic period can be attributed to rise in electric vehicle adoption, government incentives and regulations, environmental concerns and sustainability, improved energy efficiency.
The EV tires market size is expected to see strong growth in the next few years. It will grow to $28.41 billion in 2029 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing EV market penetration, enhanced range requirements, government policies and incentives, expansion of electric vehicle models. Major trends in the forecast period include increased focus on sustainability, advancements in tire technology, rise of smart tires, improved range and efficiency, winter-ready EV tires.
The rising demand for electric vehicles is anticipated to drive the growth of the EV tires market in the future. Electric vehicles (EVs) are cars powered primarily or entirely by electricity stored in rechargeable batteries. EV tires are specifically designed for electric vehicles to optimize efficiency, performance, and safety, supporting the broader adoption of electric transportation. For example, in April 2024, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reported that nearly 14 million new electric cars were registered globally in 2023. This marked a 3.5 million unit increase in electric car sales from 2022, representing a 35% year-over-year growth. As a result, the growing demand for electric vehicles is fueling the expansion of the EV tire market.
Major companies operating in the EV tire market are focused on introducing innovative EV tires leveraging advanced technologies, such as ENLITEN technology, to gain a competitive edge in the market. ENLITEN technology refers to a revolutionary tire technology that focuses on reducing the environmental impact of tires, fleets, and vehicles by utilizing proprietary lightweight materials in tire composition to achieve low rolling resistance (LRR), resulting in reduced fuel consumption for combustion vehicles, an improved wear rate, and more durable tires. For instance, in May 2023, Bridgestone Corporation, a Japan-based tire manufacturing company, launched the new Turanza EV Grand Touring Tire, the company's first-ever replacement tire with Bridgestone ENLITEN technology, created especially for high-end electric cars. This tire was thoughtfully created with the special characteristics of electric vehicles in mind. It enhances the experience of driving an EV by offering good tread life, low ride noise, and secure wet handling. It features ENLITEN technology, a revolutionary core technology that focuses on next-generation tread compounds, new structural components, and increased efficiency.
In June 2022, Hyundai Motor Group, a South Korea-based automobile manufacturer company, collaborated with Michelin Group. This partnership aims to create innovations such as eco-friendly tires using more sustainable materials, tires optimized for next-generation EVs, and a real-time tire monitoring system. Michelin Group is a France-based tire manufacturing company, that provides a range of tires designed specifically for electric and hybrid vehicles, aiming to maximize efficiency, range, and performance.
Major companies operating in the EV tires market are MRF Limited, JK Tyre & Industries, Cheng Shin Rubber Industrial Co. Ltd., Caterpillar Inc., Continental AG, Bridgestone Corporation, Michelin Group, Sailun Group, Goodyear tyre and rubber company, Nokian Tyre, Hankook Tire & Technology Co. Ltd., Yokohama rubber Co. Ltd, Kumho Tire Co. Inc., Apollo tyre, Giti Tire, Cooper Tyre and Rubber Company, Titan International Inc., Pirelli & C. SpA, Maxxis International, Falken tyre, Sumitomo Rubber Industries, Trelleborg Wheel Systems, CEAT Limited, Federal Corporation, Nexen Tire
Asia-Pacific was the largest region in the EV Tires market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the EV tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the EV tires market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The EV tire market consists of sales of low-rolling-resistance tires, performance tires, grand touring tires, and run-flat tires. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
EV Tires Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ev tires market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Scope
Table of Contents
1. Executive Summary
2. EV Tires Market Characteristics
3. EV Tires Market Trends And Strategies
4. EV Tires Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market
5. Global EV Tires Growth Analysis And Strategic Analysis Framework
- 5.1. Global EV Tires PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
- 5.2. Analysis Of End Use Industries
- 5.3. Global EV Tires Market Growth Rate Analysis
- 5.4. Global EV Tires Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
- 5.5. Global EV Tires Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
- 5.6. Global EV Tires Total Addressable Market (TAM)
6. EV Tires Market Segmentation
7. EV Tires Market Regional And Country Analysis
8. Asia-Pacific EV Tires Market
9. China EV Tires Market
10. India EV Tires Market
11. Japan EV Tires Market
12. Australia EV Tires Market
13. Indonesia EV Tires Market
14. South Korea EV Tires Market
15. Western Europe EV Tires Market
16. UK EV Tires Market
17. Germany EV Tires Market
18. France EV Tires Market
19. Italy EV Tires Market
20. Spain EV Tires Market
21. Eastern Europe EV Tires Market
22. Russia EV Tires Market
23. North America EV Tires Market
24. USA EV Tires Market
25. Canada EV Tires Market
26. South America EV Tires Market
27. Brazil EV Tires Market
28. Middle East EV Tires Market
29. Africa EV Tires Market
30. EV Tires Market Competitive Landscape And Company Profiles
31. EV Tires Market Other Major And Innovative Companies
32. Global EV Tires Market Competitive Benchmarking And Dashboard
33. Key Mergers And Acquisitions In The EV Tires Market
34. Recent Developments In The EV Tires Market
35. EV Tires Market High Potential Countries, Segments and Strategies
36. Appendix
