Electric Vehicle Tire Market Size & Forecast 2024–2030: Trends and Growth Insights

Market Size, Growth & Valuation (2024-30)

Electric Vehicle Tire Market size was valued at USD 3.1 Billion in 2023 and is projected to reach USD 13.4 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 18.7% during the forecast period, i.e., 2024-30.

✅In case you missed it, we are currently revising our reports. Click on the below to get the latest research data with forecast for years 20245 to 2030, including market size, industry trends, and competitive analysis. It wouldn’t take long for the team to deliver the most recent version of the report.

View Full Report - https://www.marknteladvisors.com/research-library/global-electric-vehicle-tire-market.html

Electric Vehicle Tire Market Structure – Segmentation & Geography

By Type of Tire

Radial
Bias

Here, radial tires are anticipated to gain swift momentum in the global market over the forecast years.

By Vehicle Type

Passenger Car
Two Wheeler & Three Wheeler
Commercial Vehicle
Others

Amongst these three, passenger cars are anticipated to dominate the Global Electric Vehicle Tire Market with the largest market share.

By Price Category

Budget
Premium
Economy

By Distribution Channel

OEM
Aftermarket

By Sales Channel

Direct Sales
Online
Dealers/ Exclusive Outlets

By Rim Diameter

Up to 12”
1” to 15”
1.” to 18”
1” to 20”
1” to 22.5”
6” to 30”
1” to 35”
1” to 47”
Above 47”

By Region

North America
South America
Europe
Middle East & Africa
Asia-Pacific.

North America would significantly contribute to the growth of the Electric Vehicle Tire Market during 2024-30.

Key Growth Trends (2024-2030)

High-Performance & Smart EV Tires to Augment Market Growth – With the evolution of new technologies in the EV industry, the tires for electric vehicles have also undergone significant transformation. Traditionally, the EV-specific tires were developed based on the generic electric car models and provided a moderate efficiency. However, with the increasing introduction of next-generation electric automotive models, the demand for the tires that suit these vehicles is also surging. The top companies are launching highly efficient EV-specific tires that provide ultra-low rolling resistance, improved wet & dry traction, and are highly durable. This, in turn, is gaining the attention of the consumers seeking tires that improve their vehicle’s operational efficiency.

Along with this, the market players are actively incorporating the technology into the tires to provide details about the tire pressures & air to the customers. In 2022, the company, JK Tire launched a complete range of EV-specific smart radial tires that are equipped with sensors. These tires would provide real-time information about the surrounding environment helping customers to make informed decisions about their vehicles, and supporting market growth in the forthcoming years.

Download Free Sample PDF - https://www.marknteladvisors.com/query/request-sample/global-electric-vehicle-tire-market.html

Research Methodology

MarkNtel Advisors employs a thorough and iterative research methodology to enhance accuracy in market estimates. Our process combines bottom-up and top-down approaches, focusing on data triangulation for validation. It includes defining research objectives, selecting representative samples, and collecting data through surveys and interviews. Post-collection, we analyze and validate the data using statistical tools, ensuring reliability. Finally, we forecast market trends through predictive modeling, compiling our insights into detailed reports with charts and strategic recommendations for informed decision-making.

Competitive Analysis Framework

The Electric Vehicle Tire industry is moderately fragmented, with key players focusing on technological advancements and strategic partnerships. A detailed competitive analysis helps businesses benchmark against industry leaders and identify growth opportunities.

Leading Electric Vehicle Tire Companies are:

Continental AG
Bridgestone Corporation
Yokohama Rubber Company Ltd.
Hankook Tire & Technology Group
The Goodyear Tire & Rubber Company
Michelin Group
Kumho Tire Company Inc.
Pirelli & C. S.p.A
Toyo Tire Corporation
GITI Tire.

? Looking for a Customized Market Research Report? Visit – https://www.marknteladvisors.com/query/request-customization/global-electric-vehicle-tire-market.html

(Need global, regional or country-specific data? We can tailor research to your exact requirements)

Key Questions Answered in This Report:

What is the current market size of Electric Vehicle Tire, and what growth rate is projected by 2030?
Which key trends are driving Electric Vehicle Tire market expansion in the next five years?
How does market segmentation impact industry dynamics?
Which geographic regions offer the highest growth potential?
What are the primary challenges hindering Electric Vehicle Tire industry growth?
How do regulatory policies influence market development?
What are the latest technological advancements impacting the sector?
Who are the leading Electric Vehicle Tire companies, and what are their market shares?
What strategies are top competitors adopting to maintain dominance?
What are the emerging niche segments with high growth potential?
How do macroeconomic factors affect market performance?
What are the investment opportunities for new entrants?
How does pricing strategy vary across different market segments?
What are the future innovation trends expected in this industry?

Other Report:

About Us – MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

Contact:

MarkNtel Advisors

Office No.109, H-159, Sector 63, Noida, Uttar Pradesh-201301, India

Contact No: +91 8719999009

Email: [email protected]

Visit our Website: https://www.marknteladvisors.com