Electric Vehicle Tires Market

Electric Vehicle Tires Market by Propulsion (BEVs, PHEVs, HEVs, & FCEVs), Vehicle Type (Passenger Cars, Light Commercial Vehicles), Load Index, Application, Rim Size (13-15, 16-18, 19-21, & >21), Sales Channel & Region - Global Forecast to 2030

Report Code: AT 8871 Nov, 2023, by marketsandmarkets.com

[262 Pages Report] The global electric vehicle tires market size is projected to grow from USD 2.8 Billion in 2023 to USD 11.2 Billion by 2030, at a CAGR of 21.7%. Increasing focus toward range efficient tires and increasing penetration of electric vehicles, paired with strong government push to reduce greenhouse gas emissions are anticipated to increase the demand for electric vehice tires all over the world.

Electric Vehicle Tires Market

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Electric Vehicle Tires Market Opportunities

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Electric Vehicle Tires Market:

Driver: Growing demand for better fuel efficiency

Rolling resistance is the force that opposes the forward motion of a tire as it rolls over a surface. It is caused by a combination of factors, including tire deformation, air resistance, and friction with the road. The higher the rolling resistance, the more energy is required to overcome it, which means that tires with high rolling resistance will reduce fuel efficiency and increase emissions. Tire rolling resistance significantly impacts fuel consumption, especially for electric vehicles. According to Michelin, a 30% increase in rolling resistance can reduce the range of an electric vehicle by up to 5%. Michelin also states that the Michelin e.Primacy tires can increase the range of an electric vehicle by up to 7%. The lower the rolling resistance, the less energy the tire needs to move, which can lead to improved fuel efficiency. In the long run, the use of electric vehicle tires turns out cost-effective, as the extra cost paid for the electric vehicle tires is recovered by savings made on fuel expenses. Many governments around the world are implementing stricter fuel efficiency and emissions regulations. This drives the demand for low-rolling resistance tires for all types of vehicles, including electric vehicles. The increasing stringency of fuel efficiency regulations, such as the National Highway Traffic Safety Administration (NHTSA), has increased the demand for low-rolling resistance tires.

Restraint: Lack of awareness of electric vehicle tire benefits in emerging economies

Consumers are well aware of the benefits of using electric vehicles. However, there is a lack of awareness regarding the benefits of electric vehicle tires and their role in reducing fuel consumption. In emerging economies, such as India and Indonesia, the general consumer is less focused on the benefits offered by electric vehicle tires. In several countries, electric vehicle tires are not as widely available as traditional tires. They are often more expensive than traditional tires. Many people are not familiar with the benefits of electric vehicle tires. Multiple strategies exist to increase awareness regarding EV tires. Enhancing availability and educating individuals about their advantages are pivotal. Achieving this through advertising, public relations, and educational materials forms an effective approach.

Opportunity: Increasing demand for replacement tires

The demand for electric vehicle tires is increasing among various automotive manufacturers, i.e., at the Original Equipment (OE) level. The replacement tires market is expected to provide opportunities for manufacturers in the future. The demand for replacement tires is expected to rise during the forecast period due to the higher vehicle utilization against the backdrop of an increase in cab-sharing facilities globally. The logistics industry is a major consumer of fuel. As the industry grows, there is a high demand for fuel-efficient vehicles and electric commercial vehicles. Electric vehicle tires can help improve the fuel efficiency of vehicles, reducing the environmental impact of the logistics industry. As disposable incomes rise, consumers are more likely to replace their tires before they wear out. New tire technologies that offer improved fuel efficiency, performance, and safety are also being developed, driving the demand for electric vehicle replacement tires. The replacement EV tires market is driven by the increasing availability of EV tires. In the past, EV tires were difficult to find and expensive. However, as the EV market has grown, more tire manufacturers have begun to produce EV tires. This has made EV tires more affordable and accessible, driving the growth of the replacement EV tires market.

Challenge: Higher cost and limited availability of electric vehicle tires

Electric vehicle tires are typically more expensive than conventional ones because they are designed to reduce rolling resistance, improve traction and handling, and extend tread life. The higher cost of electric vehicle tires could deter some consumers from purchasing them. Electric vehicle sales are not yet on the same level as gasoline-powered vehicles, as electric vehicles are generally more expensive than their ICE counterparts. With fewer electric vehicle options to purchase at higher prices, the specific tires made for them will be even less. Electric vehicle tires are still a relatively new product category and are not as widely available as traditional gas-powered vehicle tires. The electric vehicle tires market is poised for growth, driven by the increasing popularity of EVs and their environmental benefits. However, the limited availability of EV tires can hinder this growth and pose several challenges. Fewer EV tire options can restrict consumer choice, making it difficult to find tires that meet specific needs and preferences. Supply chain disruptions due to scarcity can cause stockouts and price fluctuations, making it challenging to obtain the tires needed. Higher production costs associated with lower production volumes can translate into higher consumer prices, further deterring adoption. These challenges can delay the overall growth of the EV tire market, especially in emerging economies such as India, where the EV options are limited, which results in the unavailability of electric vehicle tires for such vehicle’s needs.

Electric Vehicle Tires Market: Ecosystem

The ecosystem analysis highlights various tire market players, which are primarily represented by raw material suppliers, component manufacturers, Electric Vehicle tire manufacturers, and end users. The electric vehicle tire market comprises a huge ecosystem with several key players and aftermarket tire providers working together to deliver secure and reliable solutions for customers. The electric vehicle tires market ecosystem mainly comprises components/stakeholders. Each component interacts directly or indirectly with other components in the market to facilitate the effective development of electric vehicle tires. Prominent companies in this market include Michelin (France), Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Company (US), Continental AG (Germany), and Pirelli & C. SpA (Italy), among others.

Top Companies in Electric Vehicle Tires Market

Heavy Commercial Vehicles segment is estimated to exhibit the fastest growth in global electric vehicle tires market

The heavy commercial vehicles (HCVs) is expected to be the fastest growing segment in electric vehicle tires market during the forecast period. Heavy commercial vehicles are used to transport heavy goods and include heavy-duty trucks, trailers, and towing trucks. The weight-carrying capacity of heavy trucks is more than that of LCVs. Heavy trucks have more than four tires. Government policies are focusing on reducing emissions from heavy commercial vehicles and pushing the OEMs to create electric HCVs, which will cater to the sustainable transport of goods. Electric vehicle tires offer more fuel efficiency, better traction on wet and icy surfaces, and a longer lifespan than traditional tires. This can save money on replacement costs, especially for vehicles used for hauling. Many manufacturers, such as Volvo and Mercedes-Benz Trucks, have released electric heavy commercial vehicles. For instance, Volvo (Sweden) released FH Electric, FM Electric, and FMX Electric in 2023 and already have other electric offerings in their catalog, while Mercedes-Benz Trucks (Germany) will be releasing the battery electric long-haul HCV, eActros 600 in October 2023. US and Europe have stringent regulations and standards for vehicle safety, including tire quality and maintenance. These regulations encourage the use of higher-quality tires designed to be more durable and efficient, which will drive the market. The environmental regulations for the reduction of CO2 emissions across the globe are expected to drive the demand for electric vehicle tires in heavy trucks.

On-road application segment is expected to have significant growth opportunities in electric vehicle tires market during the forecast period

The on-road segment will be the largest market during the forecast period. The high sales volume of passenger cars, such as the Telsa Model S, Mercedes-Benz EQS, and more, use Michelin Pilot Sport S 5 and Pirelli P Zero (PZ4) tires, respectively. Many governments, such as Finland and Norway, are focusing on reducing the emissions in city centers caused by public transport. This is one of the major driving factors of sales of electric buses around the globe, and tire manufacturers are releasing products for such use cases. In India, CEAT Ltd. launched WINENERGY X3-R CV tires for electric buses in August 2022. All these developments indicate the increasing on-road segment. New releases of electric trucks and SUVs, such as Ford F-150 Lightning, Jeep Wrangler 4xe, and more, which use tires such as Michelin Defender LTX M/S 2 and BFGoodrich All Terrain KO2, respectively, will boost the demand for electric vehicle tires in the off-road applications worldwide.

Fuel Cell Electric Vehicles (FCEV) segment is expected to be the fastest growing in electric vehicle tires market during the forecast period

The FCEV uses fuel cells to generate electricity for powering the vehicle. Fuel cells in a vehicle generate electricity from the oxygen in the air and compressed hydrogen. FCEVs are completely emission-free as they emit water or heat. FCEVs have been introduced in US, majorly in California. Many renowned truck manufacturers have already developed fuel-cell electric trucks. In September 2022, Toyota Motor Corporation (Japan) and Kenworth (US) designed heavy-duty Class 8 FCEVs. In January 2023, Adani Group (India) signed an agreement with Ashok Leyland (India) and Ballard Power (Canada) to launch a pilot project for a hydrogen fuel cell electric truck in India. The Toyota-Kenworth FCEV T680 is expected to arrive with tires developed by Bridgestone Corporation. The FCEV market is currently leading in the Asia Pacific, in countries such as Japan, China, and South Korea. In October 2023, Honda (Japan) announced the launch of CR-V, a 5-seater SUV FCEV in 2024. BMW (Germany) released its iX5 Hydrogen Pilot Fleet in February 2023. Two of the best-selling FCEVs from 2022 are Hyundai Nexo and Toyota Mirai, which use Bridgestone Alenza AS Ultra tire and Michelin Pilot Sport 4S tire, respectively. FCEVs are gaining demand due to their higher range, faster refueling compared to other EVs, and government policies, and some of the countries supporting these vehicles with incentives and favorable policies. With more adoption of FECVs, the need for specially designed tires will also grow, boosting the electric vehicle tires market

North American Electric Vehicle Tires Market Size, and Share

“The North America electric vehicle tires market is projected to the fastest growth by 2030.”

North America is estimated to be the fastest growing electric vehicle tires market by 2030. US is home to the big three vehicle manufacturers, including Ford (US), General Motors (US), and Tesla (US). The growing demand for electric passenger cars and luxury SUVs, and the increasing adoption of electrification in the logistics and transport sector are boosting the market in the US. Government subsidies, policies, and tax rebates are driving the sales of electric vehicles, which will increase demand for electric vehicle tires. Telsa Model Y was the highest-selling electric vehicle in the US in 2022. Various tire manufacturers focus on production expansions to cater to the increasing demand for electric vehicle tires. In August 2022, Bridgestone Corporation announced an investment of USD 550 million to increase tire production capacity at the Warren County facility in the US. Similarly, in September 2022, The Goodyear Tire & Rubber Company announced an investment of USD 125 million to expand the manufacturing unit in Kansas, US. All these developments indicate the strong growth of the market in North America.

Electric Vehicle Tires Market Size, and Share

Key Market Players

The global electric vehicle tires market is dominated by major players such as Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental AG, Pirelli & C. SpA, and Sumitomo Rubber Industries, Ltd., among others.

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2030

Base year considered

2022

Forecast period

2023-2030

Forecast units

Volume (Units) & Value (USD Thousand)

Segments covered

Propulsion, Vehicle Type, Load Index, Application, Rim Size, Sales Channel, and Region

Geographies covered

Asia Pacific, Europe, and North America

Companies Covered

Michelin (France), Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Corporation (US), Continental AG (Germany), and Pirelli & C. SpA (Italy).
More than 20 major players are covered under the report.

This research report categorizes the electric vehicle tires market based on propulsion, vehicle type, load index, application, rim size, sales channel, and region

Electric Vehicle Tires Market, By Propulsion Type:
  • Battery Electric Vehicle (BEV)
  • Plug-In Hybrid Electric Vehicle (PHEV)
  • Hybrid Electric Vehicle (HEV)
  • Fuel Cell Electric Vehicle (FCEV)
Electric Vehicle Tires Market, By Vehicle Type:
  • Passenger Cars
  • Light Commercial Vehicles
  • Heavy Commercial Vehicles
  • Buses
Electric Vehicle Tires Market, By Load Index:
  • Less Than 100
  • Above 100
Electric Vehicle Tires Market, By Application:
  • On-road
  • Off-road
Electric Vehicle Tires Market, By Rim Size:
  • 13-15”
  • 16-18”
  • 19-21”
  • >21”
Electric Vehicle Tires Market, By Sales Channel:
  • OEM
  • Aftermarket
Electric Vehicle Tires Market, By Region
  • Asia Pacific
  • Europe
  • North America

Recent Developments

  • In October 2023, Pirelli & C. SpA. started a joint venture with Saudi Arabia PIF (Public Investment Fund) to build a tire manufacturing facility In Saudi Arabia. The plant is expected to start in 2026, with the manufacturing of high-quality tires for passenger cars.
  • In September 2023, Sumitomo Rubber Industries, Ltd. announced an all-weather touring tire called Aklimate. The tire features 4D Nano Design technology for better wet handling and snow traction.
  • In August 2023, Continental AG announced that Alfa Romeo will be factory-fitting EcoContact 6 to the new compact SUV Tonale, which especially will be beneficial for the hybrid variant of the vehicle.
  • In June 2023, Michelin announced an investment of USD 27.8 million to expand car tire production capacity at its Shenyang, China factory by 1.3 million tires.
  • In June 2023, The Goodyear Tire & Rubber Company released the Urban Max BSA tires. The tire features lower rolling resistance compared to conventional transit tires from the company.
  • In February 2023, Bridgestone Corporation announced an investment of USD 72.4 million by 2025 to expand production capacity and upgrade technology at its Pune-based plant. It will improve the plant’s capability in terms of technologies and capacities for the manufacture of tires for the passenger car segment.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 35)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           TABLE 1 ELECTRIC VEHICLE TIRES MARKET, BY SALES CHANNEL
           TABLE 2 MARKET, BY VEHICLE TYPE
           TABLE 3 MARKET, BY PROPULSION TYPE
           TABLE 4 MARKET, BY LOAD INDEX
    1.3 MARKET SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 ELECTRIC VEHICLE TIRES MARKET SEGMENTATION
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 INCLUSIONS AND EXCLUSIONS 
           TABLE 5 INCLUSIONS AND EXCLUSIONS
    1.5 CURRENCY CONSIDERED 
           TABLE 6 CURRENCY EXCHANGE RATES
    1.6 STAKEHOLDERS 
 
2 RESEARCH METHODOLOGY (Page No. - 42)
    2.1 RESEARCH DATA 
           FIGURE 2 RESEARCH DESIGN
           FIGURE 3 RESEARCH PROCESS FLOW
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key secondary sources
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 List of participating companies for primary research
                               FIGURE 4 BREAKDOWN OF PRIMARY INTERVIEWS: BY COMPANY TYPE, DESIGNATION, AND REGION
                    2.1.2.3 Primary research objectives
                    2.1.2.4 List of primary participants
    2.2 MARKET ESTIMATION METHODOLOGY 
           FIGURE 5 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
    2.3 MARKET SIZE ESTIMATION 
           FIGURE 6 ELECTRIC VEHICLE TIRES MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 7 BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 8 TOP-DOWN APPROACH
    2.4 DATA TRIANGULATION 
           FIGURE 9 DATA TRIANGULATION
    2.5 FACTOR ANALYSIS 
           2.5.1 REGIONAL ECONOMY IMPACT ANALYSIS
           2.5.2 FACTOR ANALYSIS FOR MARKET SIZING: DEMAND AND SUPPLY SIDES
    2.6 RECESSION IMPACT ANALYSIS 
    2.7 RESEARCH ASSUMPTIONS 
    2.8 RESEARCH LIMITATIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 57)
    FIGURE 10 ELECTRIC VEHICLE TIRES MARKET OVERVIEW 
    FIGURE 11 NORTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 
    FIGURE 12 HEAVY COMMERCIAL VEHICLES TO HAVE HIGHEST CAGR DURING FORECAST PERIOD 
 
4 PREMIUM INSIGHTS (Page No. - 60)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN ELECTRIC VEHICLE TIRES MARKET 
           FIGURE 13 INCREASING ADOPTION OF ELECTRIC PASSENGER CARS TO DRIVE MARKET
    4.2 MARKET, BY REGION 
           FIGURE 14 NORTH AMERICA TO ACCOUNT FOR HIGHEST CAGR DURING FORECAST PERIOD
    4.3 MARKET, BY PROPULSION TYPE 
           FIGURE 15 BATTERY ELECTRIC VEHICLES TO LEAD MARKET FROM 2023 TO 2030 (USD MILLION)
    4.4 MARKET, BY VEHICLE TYPE 
           FIGURE 16 HEAVY COMMERCIAL VEHICLES TO ACQUIRE HIGHEST CAGR DURING FORECAST PERIOD (USD MILLION)
    4.5 MARKET, BY APPLICATION 
           FIGURE 17 ON-ROAD SEGMENT ESTIMATED TO ACCOUNT FOR LARGER MARKET SHARE (2023–2030)
    4.6 MARKET, BY RIM SIZE 
           FIGURE 18 >21” INCHES TO HAVE HIGHEST GROWTH DURING FORECAST PERIOD
    4.7 MARKET, BY LOAD INDEX 
           FIGURE 19 LESS THAN 100 SUBSEGMENT TO HAVE HIGHER MARKET SHARE DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 64)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 20 ELECTRIC VEHICLE TIRES MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Government initiatives for green and clean environment
                               TABLE 7 CO2 EMISSION REDUCTION TARGETS WORLDWIDE
                    5.2.1.2 Increasing demand to improve vehicle range
                               TABLE 8 NEW ELECTRIC VEHICLE MODELS, BY RANGE, 2022–2023
                    5.2.1.3 Growing demand for better fuel efficiency
                               TABLE 9 FACTORS FOR EFFICIENCY IMPROVEMENT, BY VEHICLE TYPE
                    5.2.1.4 Rising sales of electric commercial vehicles
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of awareness of electric vehicle tires in emerging economies
                               TABLE 10 ASPECTS OF LOW CONSUMER AWARENESS FOR ELECTRIC VEHICLE TIRES IN EMERGING ECONOMIES
                    5.2.2.2 Increased longevity of tires affecting aftermarket sales
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing demand for replacement tires
                    5.2.3.2 Growing focus on environmental sustainability
           5.2.4 CHALLENGES
                    5.2.4.1 Mandatory tests of electric vehicle tires for commercial use
                               TABLE 11 ELECTRIC VEHICLE TIRES MARKET, BY INSPECTION TYPE
                    5.2.4.2 Higher cost and limited availability of electric vehicle tires
                               TABLE 12 AVERAGE PRICE COMPARISON, BY TIRE TYPE
           5.2.5 IMPACT ANALYSIS OF MARKET DYNAMICS
    5.3 PRICING ANALYSIS 
           5.3.1 AVERAGE SELLING PRICE TRENDS OF KEY PLAYERS, BY VEHICLE TYPE, 2023
                    TABLE 13 AVERAGE SELLING PRICE COMPARISON, BY VEHICLE TYPE, 2023
           5.3.2 AVERAGE SELLING PRICE TRENDS, BY REGION, 2023
                    TABLE 14 AVERAGE SELLING PRICE COMPARISON, BY REGION, 2023
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 21 ECOSYSTEM MAPPING
           TABLE 15 ROLE OF COMPANIES IN ECOSYSTEM
    5.5 SUPPLY CHAIN ANALYSIS 
           FIGURE 22 SUPPLY CHAIN ANALYSIS
    5.6 CASE STUDY ANALYSIS 
           5.6.1 CASE STUDY 1: DEVELOPMENT OF HIGH-PERFORMANCE N-MARKED TIRES
           5.6.2 CASE STUDY 2: CO-DEVELOPMENT OF TECHSYN TIRE FOR IMPROVED ENVIRONMENTAL PERFORMANCE
           5.6.3 CASE STUDY 3: TIRE MANUFACTURING FOR BMW IX ELECTRIC SUV
           5.6.4 CASE STUDY 4: TIRE DESIGNED FOR LUCID AIR DREAM EDITION
           5.6.5 CASE STUDY 5: USE OF RANGEMAX RSD TIRE FOR LOWER ROLLING RESISTANCE
    5.7 PATENT ANALYSIS 
           TABLE 16 INNOVATIONS AND PATENT REGISTRATIONS, 2020–2023
    5.8 TECHNOLOGY ANALYSIS 
           5.8.1 SMART TIRES
           5.8.2 3D-PRINTED TIRES
           5.8.3 RUN-FLAT TIRES
           5.8.4 GREEN TIRES
           5.8.5 TREAD DESIGN
                    FIGURE 23 ELECTRIC VEHICLE TIRE DESIGN
           5.8.6 CONNECTIVITY TECHNOLOGY
    5.9 TARIFF AND REGULATORY LANDSCAPE 
           5.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.9.1.1 North America
                               TABLE 17 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.9.1.2 Europe
                               TABLE 18 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    5.9.1.3 Asia Pacific
                               TABLE 19 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    5.10 KEY CONFERENCES AND EVENTS, 2023–2024 
           TABLE 20 KEY CONFERENCES AND EVENTS, 2023–2024
    5.11 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 24 INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS
                    TABLE 21 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY VEHICLE TYPE (%)
           5.11.2 BUYING CRITERIA
                    FIGURE 25 KEY BUYING CRITERIA FOR ELECTRIC VEHICLE TIRES
    5.12 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
                    FIGURE 26 REVENUE SHIFT FOR PLAYERS IN ELECTRIC VEHICLE TIRES MARKET
    5.13 MARKETSNANDMARKETS INSIGHTS ON MATERIALS USED FOR ELECTRIC VEHICLE TIRES 
           5.13.1 MATERIALS
                    5.13.1.1 Silica
                    5.13.1.2 Synthetic rubber
                    5.13.1.3 Steel belts
                    5.13.1.4 Nylon
    5.14 ELECTRIC VEHICLE TIRE OFFERINGS, BY KEY PLAYERS 
           5.14.1 GDP TRENDS AND FORECASTS FOR MAJOR ECONOMIES
                    TABLE 22 GDP TRENDS AND FORECASTS, BY MAJOR ECONOMIES, 2019–2026 (USD BILLION)
 
6 ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE (Page No. - 92)
    6.1 INTRODUCTION 
           FIGURE 27 MARKET, BY VEHICLE TYPE, 2023–2030 (USD MILLION)
           TABLE 23 MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
           TABLE 24 MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
           TABLE 25 MARKET, BY VEHICLE TYPE, 2018–2022 (USD MILLION)
           TABLE 26 MARKET, BY VEHICLE TYPE, 2023–2030 (USD MILLION)
    6.2 PASSENGER CARS 
           6.2.1 INCREASING SPENDING POWER OF CONSUMERS AND SALES OF PRIVATELY OWNED PASSENGER CARS TO DRIVE MARKET
                    TABLE 27 PASSENGER CARS: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 28 PASSENGER CARS: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 29 PASSENGER CARS: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 30 PASSENGER CARS: MARKET, BY REGION, 2023–2030 (USD MILLION)
    6.3 LIGHT COMMERCIAL VEHICLES 
           6.3.1 GROWING DEMAND FOR REDUCING OPERATING COST OF COMMERCIAL VEHICLES TO DRIVE MARKET
                    TABLE 31 LIGHT COMMERCIAL VEHICLES: MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 32 LIGHT COMMERCIAL VEHICLES: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 33 LIGHT COMMERCIAL VEHICLES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 34 LIGHT COMMERCIAL VEHICLES: MARKET, BY REGION, 2023–2030 (USD MILLION)
                    6.4 HEAVY COMMERCIAL VEHICLES
           6.4.1 RISING DEMAND FOR SUSTAINABLE GOODS TRANSPORTATION TO DRIVE MARKET
                    TABLE 35 HEAVY COMMERCIAL VEHICLES: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 36 HEAVY COMMERCIAL VEHICLES: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 37 HEAVY COMMERCIAL VEHICLES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 38 HEAVY COMMERCIAL VEHICLES: MARKET, BY REGION, 2023–2030 (USD MILLION)
    6.5 BUSES 
           6.5.1 ELECTRIFICATION OF PUBLIC TRANSPORT TO DRIVE MARKET
                    TABLE 39 BUSES: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 40 BUSES: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 41 BUSES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 42 BUSES: MARKET, BY REGION, 2023–2030 (USD MILLION)
    6.6 KEY INDUSTRY INSIGHTS 
 
7 ELECTRIC VEHICLE TIRES MARKET, BY PROPULSION TYPE (Page No. - 103)
    7.1 INTRODUCTION 
           FIGURE 28 ELECTRIC VEHICLE TIRES MARKET, BY PROPULSION TYPE, 2023–2030 (USD MILLION)
           TABLE 43 MARKET, BY PROPULSION TYPE, 2018–2022 (THOUSAND UNITS)
           TABLE 44 MARKET, BY PROPULSION TYPE, 2023–2030 (THOUSAND UNITS)
           TABLE 45 MARKET, BY PROPULSION TYPE, 2018–2022 (USD MILLION)
           TABLE 46 MARKET, BY PROPULSION TYPE, 2023–2030 (USD MILLION)
    7.2 BATTERY ELECTRIC VEHICLES 
           7.2.1 GROWING INVESTMENTS BY OEMS IN R&D TO DRIVE MARKET
                    TABLE 47 BATTERY ELECTRIC VEHICLES: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 48 BATTERY ELECTRIC VEHICLES: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 49 BATTERY ELECTRIC VEHICLES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 50 BATTERY ELECTRIC VEHICLES: MARKET, BY REGION, 2023–2030 (USD MILLION)
    7.3 PLUG-IN HYBRID ELECTRIC VEHICLES 
           7.3.1 REDUCTION IN VEHICLE OWNERSHIP TAX AND INCREASED CHARGING-BASED INCENTIVES TO DRIVE MARKET
                    TABLE 51 PLUG-IN HYBRID ELECTRIC VEHICLES: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 52 PLUG-IN HYBRID ELECTRIC VEHICLES: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 53 PLUG-IN HYBRID ELECTRIC VEHICLES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 54 PLUG-IN HYBRID ELECTRIC VEHICLES: MARKET, BY REGION, 2023–2030 (USD MILLION)
    7.4 FUEL CELL ELECTRIC VEHICLES 
           7.4.1 EXPANDING HYDROGEN REFUELING INFRASTRUCTURE TO DRIVE MARKET
                    TABLE 55 FUEL CELL ELECTRIC VEHICLES: MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 56 FUEL CELL ELECTRIC VEHICLES: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 57 FUEL CELL ELECTRIC VEHICLES: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 58 FUEL CELL ELECTRIC VEHICLES: MARKET, BY REGION, 2023–2030 (USD MILLION)
    7.5 HYBRID ELECTRIC VEHICLES 
           7.5.1 AFFORDABLE PRICES THAN BATTERY ELECTRIC VEHICLES TO DRIVE MARKET
    7.6 KEY INDUSTRY INSIGHTS 
 
8 ELECTRIC VEHICLE TIRES MARKET, BY RIM SIZE (Page No. - 113)
    8.1 INTRODUCTION 
           FIGURE 29 MARKET, BY RIM SIZE, 2023–2030 (USD MILLION)
           TABLE 59 MARKET, BY RIM SIZE, 2018–2022 (THOUSAND UNITS)
           TABLE 60 MARKET, BY RIM SIZE, 2023–2030 (THOUSAND UNITS)
           TABLE 61 MARKET, BY RIM SIZE, 2018–2022 (USD MILLION)
           TABLE 62 MARKET, BY RIM SIZE, 2023–2030 (USD MILLION)
           TABLE 63 OEMS AND THEIR MODELS, BY RIM SIZE
    8.2 13–15 INCHES 
           8.2.1 RISING SALES OF SMALL AND MID-SIZED ELECTRIC PASSENGER CARS TO DRIVE MARKET
                    TABLE 64 13–15”: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 65 13–15”: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 66 13–15”: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 67 13–15”: MARKET, BY REGION, 2023–2030 (USD MILLION)
    8.3 16–18 INCHES 
           8.3.1 EXPANDING LOGISTICS INDUSTRY TO DRIVE MARKET
                    TABLE 68 16–18”: MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 69 16–18”: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 70 16–18”: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 71 16–18”: MARKET, BY REGION, 2023–2030 (USD MILLION)
    8.4 19–21 INCHES 
           8.4.1 GROWING DEMAND FOR SPORTS AND LUXURY PASSENGER CARS TO DRIVE MARKET
                    TABLE 72 19–21”: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 73 19–21”: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 74 19–21”: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 75 19–21”: MARKET, BY REGION, 2023–2030 (USD MILLION)
    8.5 MORE THAN 21 INCHES 
           8.5.1 INCREASING CONSTRUCTION PROJECTS AND ADOPTION OF ELECTRIC BUSES TO DRIVE MARKET
                    TABLE 76 MORE THAN 21”: MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 77 MORE THAN 21”: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 78 MORE THAN 21”: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 79 MORE THAN 21”: MARKET, BY REGION, 2023–2030 (USD MILLION)
    8.6 KEY INDUSTRY INSIGHTS 
 
9 ELECTRIC VEHICLE TIRES MARKET, BY LOAD INDEX (Page No. - 125)
    9.1 INTRODUCTION 
           FIGURE 30 TIRE SIDEWALL INFORMATION
           FIGURE 31 ELECTRIC VEHICLE TIRES MARKET, BY LOAD INDEX, 2023–2030 (USD MILLION)
           TABLE 80 MARKET, BY LOAD INDEX, 2018–2022 (THOUSAND UNITS)
           TABLE 81 MARKET, BY LOAD INDEX, 2023–2030 (THOUSAND UNITS)
           TABLE 82 MARKET, BY LOAD INDEX, 2018–2022 (USD MILLION)
           TABLE 83 MARKET, BY LOAD INDEX, 2023–2030 (USD MILLION)
           TABLE 84 OPERATIONAL DATA OF LOAD INDEX, BY OEMS AND THEIR OFFERINGS
    9.2 LESS THAN 100 
           9.2.1 INCREASING SALES OF ELECTRIC AND HYBRID SMALL PASSENGER CARS TO DRIVE MARKET
                    TABLE 85 LESS THAN 100: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 86 LESS THAN 100: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 87 LESS THAN 100: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 88 LESS THAN 100: MARKET, BY REGION, 2023–2030 (USD MILLION)
    9.3 ABOVE 100 
           9.3.1 GROWING DEMAND FOR ELECTRIC LUXURY CARS AND SUVS TO DRIVE MARKET
                    TABLE 89 ABOVE 100: MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                    TABLE 90 ABOVE 100: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                    TABLE 91 ABOVE 100: MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 92 ABOVE 100: MARKET, BY REGION, 2023–2030 (USD MILLION)
    9.4 KEY INDUSTRY INSIGHTS 
 
10 ELECTRIC VEHICLE TIRES MARKET, BY APPLICATION (Page No. - 134)
     10.1 INTRODUCTION 
               FIGURE 32 ELECTRIC VEHICLE TIRES MARKET, BY APPLICATION, 2023–2030 (USD MILLION)
               TABLE 93 MARKET, BY APPLICATION, 2018–2022 (THOUSAND UNITS)
               TABLE 94 MARKET, BY APPLICATION, 2023–2030 (THOUSAND UNITS)
               TABLE 95 MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
               TABLE 96 MARKET, BY APPLICATION, 2023–2030 (USD MILLION)
     10.2 ON-ROAD 
             10.2.1 RISING ADOPTION OF ELECTRIC BUSES TO DRIVE MARKET
                       TABLE 97 ON-ROAD: ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                       TABLE 98 ON-ROAD: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                       TABLE 99 ON-ROAD: MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 100 ON-ROAD: MARKET, BY REGION, 2023–2030 (USD MILLION)
     10.3 OFF-ROAD 
             10.3.1 GROWING AVAILABILITY OF ELECTRIC TRUCKS TO DRIVE MARKET
                       TABLE 101 OFF-ROAD: MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
                       TABLE 102 OFF-ROAD: MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
                       TABLE 103 OFF-ROAD: MARKET, BY REGION, 2018–2022 (USD MILLION)
                       TABLE 104 OFF-ROAD: MARKET, BY REGION, 2023–2030 (USD MILLION)
     10.4 KEY INDUSTRY INSIGHTS 
 
11 ELECTRIC VEHICLE TIRES MARKET, BY SALES CHANNEL (Page No. - 141)
     11.1 INTRODUCTION 
               TABLE 105 OPERATIONAL DATA
     11.2 OEM 
             11.2.1 INCREASING PREFERENCE OF CONSUMERS FOR SPECIALLY DEVELOPED TIRES FOR ELECTRIC VEHICLES TO DRIVE MARKET
     11.3 AFTERMARKET 
             11.3.1 GROWING ONLINE SALES OF ELECTRIC VEHICLE TIRES TO DRIVE MARKET
     11.4 KEY INDUSTRY INSIGHTS 
 
12 ELECTRIC VEHICLE TIRES MARKET, BY REGION (Page No. - 145)
     12.1 INTRODUCTION 
               FIGURE 33 ELECTRIC VEHICLE TIRES MARKET, BY REGION, 2023–2030 (USD MILLION)
               TABLE 106 MARKET, BY REGION, 2018–2022 (THOUSAND UNITS)
               TABLE 107 MARKET, BY REGION, 2023–2030 (THOUSAND UNITS)
               TABLE 108 MARKET, BY REGION, 2018–2022 (USD MILLION)
               TABLE 109 MARKET, BY REGION, 2023–2030 (USD MILLION)
     12.2 ASIA PACIFIC 
             12.2.1 ASIA PACIFIC: RECESSION IMPACT ANALYSIS
                       FIGURE 34 ASIA PACIFIC: ELECTRIC VEHICLE TIRES MARKET SNAPSHOT
                       TABLE 110 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2022 (THOUSAND UNITS)
                       TABLE 111 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2030 (THOUSAND UNITS)
                       TABLE 112 ASIA PACIFIC: MARKET, BY COUNTRY, 2018–2022 (THOUSAND USD)
                       TABLE 113 ASIA PACIFIC: MARKET, BY COUNTRY, 2023–2030 (THOUSAND USD)
             12.2.2 CHINA
                       12.2.2.1 Made in China 2025 and Preferential Vehicle Licensing System initiatives to drive market
                                   TABLE 114 CHINA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 115 CHINA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 116 CHINA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 117 CHINA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.2.3 JAPAN
                       12.2.3.1 Growing domestic automobile manufacturing to drive market
                                   TABLE 118 JAPAN: ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE, 2018–2022 (UNITS)
                                   TABLE 119 JAPAN: MARKET, BY VEHICLE TYPE, 2023–2030 (UNITS)
                                   TABLE 120 JAPAN: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 121 JAPAN: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.2.4 INDIA
                       12.2.4.1 Rising disposable income and affordable electric vehicle models to drive market
                                   TABLE 122 INDIA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 123 INDIA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 124 INDIA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 125 INDIA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.2.5 SOUTH KOREA
                       12.2.5.1 Growing investments in electric vehicles to drive market
                                   TABLE 126 SOUTH KOREA: ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE, 2018–2022 (UNITS)
                                   TABLE 127 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2023–2030 (UNITS)
                                   TABLE 128 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 129 SOUTH KOREA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.2.6 THAILAND
                       12.2.6.1 Increasing tax rebates and subsidies to drive market
             12.2.7 INDONESIA
                       12.2.7.1 Declining battery cost and increasing consumer awareness to drive market
             12.2.8 MALAYSIA
                       12.2.8.1 Battery Electric Vehicle Global Leaders Initiative to drive market
             12.2.9 VIETNAM
                       12.2.9.1 Setting up of new manufacturing plants to drive market
     12.3 EUROPE 
             12.3.1 EUROPE: RECESSION IMPACT ANALYSIS
                       FIGURE 35 EUROPE: ELECTRIC VEHICLE TIRES MARKET SNAPSHOT
                       TABLE 130 EUROPE: MARKET, BY COUNTRY, 2018–2022 (THOUSAND UNITS)
                       TABLE 131 EUROPE: MARKET, BY COUNTRY, 2023–2030 (THOUSAND UNITS)
                       TABLE 132 EUROPE: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 133 EUROPE: MARKET, BY COUNTRY, 2023–2030 (USD MILLION)
             12.3.2 FRANCE
                       12.3.2.1 Growing incentives to promote eco-friendly vehicles to drive market
                                   TABLE 134 FRANCE: ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 135 FRANCE: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 136 FRANCE: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 137 FRANCE: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.3.3 GERMANY
                       12.3.3.1 Increasing penetration of electric passenger cars from domestic and foreign brands to drive market
                                   TABLE 138 GERMANY: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 139 GERMANY: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 140 GERMANY: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 141 GERMANY: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.3.4 NETHERLANDS
                       12.3.4.1 Growing demand for sustainable transportation to drive market
                                   TABLE 142 NETHERLANDS: ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 143 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 144 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 145 NETHERLANDS: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.3.5 NORWAY
                       12.3.5.1 Government incentives and tax rebates to drive market
                                   TABLE 146 NORWAY: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 147 NORWAY: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 148 NORWAY: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 149 NORWAY: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.3.6 SWEDEN
                       12.3.6.1 Growing initiatives for vehicle electrification to drive market
                                   TABLE 150 SWEDEN: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 151 SWEDEN: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 152 SWEDEN: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 153 SWEDEN: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.3.7 UK
                       12.3.7.1 Increasing government investments to drive market
                                   TABLE 154 UK: ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 155 UK: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 156 UK: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 157 UK: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.3.8 AUSTRIA
                       12.3.8.1 Rising demand for passenger and commercial electric vehicles to drive market
                                   TABLE 158 AUSTRIA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 159 AUSTRIA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 160 AUSTRIA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 161 AUSTRIA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
             12.3.9 SPAIN
                       12.3.9.1 Growing implementation of subsidy schemes to drive market
                                   TABLE 162 SPAIN: ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 163 SPAIN: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 164 SPAIN: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 165 SPAIN: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
               12.3.10 SWITZERLAND
            12.3.10.1 Increasing focus on reducing carbon footprint to drive market
               12.3.11 DENMARK
            12.3.11.1 Rising adoption of electric fleets by taxi companies to drive market
     12.4 NORTH AMERICA 
             12.4.1 NORTH AMERICA: RECESSION IMPACT ANALYSIS
                       TABLE 166 NORTH AMERICA: ELECTRIC VEHICLE TIRES MARKET, BY COUNTRY, 2018–2022 (THOUSAND UNITS)
                       TABLE 167 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2030 (THOUSAND UNITS)
                       TABLE 168 NORTH AMERICA: MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                       TABLE 169 NORTH AMERICA: MARKET, BY COUNTRY, 2023–2030 (USD MILLION)
             12.4.2 US
                       12.4.2.1 Growing use of electric vehicles for construction, landscaping, and delivery services to drive market
                                   TABLE 170 US: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 171 US: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 172 US: MARKET, BY VEHICLE TYPE, 2018–2022 (USD MILLION)
                                   TABLE 173 US: MARKET, BY VEHICLE TYPE, 2023–2030 (USD MILLION)
             12.4.3 CANADA
                       12.4.3.1 Increasing awareness of electric vehicle benefits and favorable trade agreements to drive market
                                   TABLE 174 CANADA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND UNITS)
                                   TABLE 175 CANADA: MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND UNITS)
                                   TABLE 176 CANADA: MARKET, BY VEHICLE TYPE, 2018–2022 (THOUSAND USD)
                                   TABLE 177 CANADA: ELECTRIC VEHICLE TIRES MARKET, BY VEHICLE TYPE, 2023–2030 (THOUSAND USD)
 
13 COMPETITIVE LANDSCAPE (Page No. - 187)
     13.1 OVERVIEW 
     13.2 KEY PLAYERS’ STRATEGIES, 2020–2023 
               TABLE 178 KEY PLAYERS’ STRATEGIES, 2020–2023
     13.3 MARKET SHARE ANALYSIS 
               TABLE 179 MARKET SHARE ANALYSIS, 2022
               FIGURE 36 MARKET SHARE ANALYSIS, 2022
             13.3.1 MICHELIN
             13.3.2 BRIDGESTONE CORPORATION
             13.3.3 THE GOODYEAR TIRE & RUBBER COMPANY
             13.3.4 CONTINENTAL AG
             13.3.5 PIRELLI & C. SPA
     13.4 REVENUE ANALYSIS 
               FIGURE 37 REVENUE ANALYSIS OF TOP 5 PLAYERS, 2018–2022
     13.5 COMPANY EVALUATION MATRIX 
             13.5.1 STARS
             13.5.2 EMERGING LEADERS
             13.5.3 PERVASIVE PLAYERS
             13.5.4 PARTICIPANTS
                       FIGURE 38 COMPANY EVALUATION MATRIX, 2023
             13.5.5 COMPANY FOOTPRINT
                       TABLE 180 COMPANY FOOTPRINT, 2023
                       TABLE 181 COMPANY FOOTPRINT, BY PRODUCT
                       TABLE 182 COMPANY FOOTPRINT, BY REGION
     13.6 STARTUP/SME EVALUATION MATRIX 
             13.6.1 PROGRESSIVE COMPANIES
             13.6.2 RESPONSIVE COMPANIES
             13.6.3 DYNAMIC COMPANIES
             13.6.4 STARTING BLOCKS
                       FIGURE 39 STARTUP/SME EVALUATION MATRIX, 2023
             13.6.5 COMPETITIVE BENCHMARKING
                       TABLE 183 DETAILED LIST OF STARTUPS/SMES
                       TABLE 184 COMPETITIVE BENCHMARKING OF STARTUPS/SMES
     13.7 COMPETITIVE SCENARIO 
             13.7.1 DEALS
                       TABLE 185 DEALS, 2022–2023
             13.7.2 PRODUCT LAUNCHES
                       TABLE 186 PRODUCT LAUNCHES, 2022–2023
             13.7.3 OTHERS
                       TABLE 187 OTHERS, 2022–2023
 
14 COMPANY PROFILES (Page No. - 204)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
     14.1 KEY PLAYERS 
             14.1.1 MICHELIN
                       TABLE 188 MICHELIN: COMPANY OVERVIEW
                       FIGURE 40 MICHELIN: COMPANY SNAPSHOT
                       TABLE 189 MICHELIN: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 190 MICHELIN: PRODUCT DEVELOPMENTS
                       TABLE 191 MICHELIN: DEALS
                       TABLE 192 MICHELIN: OTHERS
             14.1.2 BRIDGESTONE CORPORATION
                       TABLE 193 BRIDGESTONE CORPORATION: COMPANY OVERVIEW
                       FIGURE 41 BRIDGESTONE CORPORATION: COMPANY SNAPSHOT
                       TABLE 194 BRIDGESTONE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 195 BRIDGESTONE CORPORATION: PRODUCT DEVELOPMENTS
                       TABLE 196 BRIDGESTONE CORPORATION: DEALS
                       TABLE 197 BRIDGESTONE CORPORATION: OTHERS
             14.1.3 THE GOODYEAR TIRE & RUBBER COMPANY
                       TABLE 198 THE GOODYEAR TIRE & RUBBER COMPANY: COMPANY OVERVIEW
                       FIGURE 42 THE GOODYEAR TIRE & RUBBER COMPANY: COMPANY SNAPSHOT
                       TABLE 199 THE GOODYEAR TIRE & RUBBER COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 200 THE GOODYEAR TIRE & RUBBER COMPANY: PRODUCT DEVELOPMENTS
                       TABLE 201 THE GOODYEAR TIRE & RUBBER COMPANY: DEALS
                       TABLE 202 THE GOODYEAR TIRE & RUBBER COMPANY: OTHERS
             14.1.4 CONTINENTAL AG
                       TABLE 203 CONTINENTAL AG: COMPANY OVERVIEW
                       FIGURE 43 CONTINENTAL AG: COMPANY SNAPSHOT
                       FIGURE 44 CONTINENTAL AG: GLOBAL PRESENCE
                       TABLE 204 CONTINENTAL AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 205 CONTINENTAL AG: PRODUCT DEVELOPMENTS
                       TABLE 206 CONTINENTAL AG: DEALS
             14.1.5 PIRELLI & C. SPA
                       TABLE 207 PIRELLI & C. SPA: COMPANY OVERVIEW
                       FIGURE 45 PIRELLI & C. SPA: COMPANY SNAPSHOT
                       TABLE 208 PIRELLI & C. SPA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 209 PIRELLI & C. SPA: PRODUCT DEVELOPMENTS
                       TABLE 210 PIRELLI & C. SPA: DEALS
                       TABLE 211 PIRELLI & C. SPA: OTHERS
             14.1.6 SUMITOMO RUBBER INDUSTRIES, LTD.
                       TABLE 212 SUMITOMO RUBBER INDUSTRIES, LTD.: COMPANY OVERVIEW
                       FIGURE 46 SUMITOMO RUBBER INDUSTRIES, LTD.: COMPANY SNAPSHOT
                       TABLE 213 SUMITOMO RUBBER INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 214 SUMITOMO RUBBER INDUSTRIES, LTD.: PRODUCT DEVELOPMENTS
                       TABLE 215 SUMITOMO RUBBER INDUSTRIES, LTD.: OTHERS
             14.1.7 HANKOOK TIRE & TECHNOLOGY CO., LTD.
                       TABLE 216 HANKOOK TIRE & TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
                       FIGURE 47 HANKOOK TIRE & TECHNOLOGY CO., LTD.: COMPANY SNAPSHOT
                       TABLE 217 HANKOOK TIRE & TECHNOLOGY CO., LTD.: PRODUCT/SOLUTIONS/SERVICES OFFERED
                       TABLE 218 HANKOOK TIRE & TECHNOLOGY CO., LTD.: PRODUCT DEVELOPMENTS
                       TABLE 219 HANKOOK TIRE & TECHNOLOGY CO., LTD.: DEALS
                       TABLE 220 HANKOOK TIRE & TECHNOLOGY CO., LTD.: OTHERS
             14.1.8 NOKIAN TYRES PLC
                       TABLE 221 NOKIAN TYRES PLC: COMPANY OVERVIEW
                       FIGURE 48 NOKIAN TYRES PLC: COMPANY SNAPSHOT
                       TABLE 222 NOKIAN TYRES PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 223 NOKIAN TYRES PLC: PRODUCT DEVELOPMENTS
                       TABLE 224 NOKIAN TYRES PLC: DEALS
                       TABLE 225 NOKIAN TYRES PLC: OTHERS
             14.1.9 KUMHO TIRE CO., INC.
                       TABLE 226 KUMHO TIRE CO., INC.: COMPANY OVERVIEW
                       FIGURE 49 KUMHO TIRE CO., INC.: COMPANY SNAPSHOT
                       TABLE 227 KUMHO TIRE CO., INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 228 KUMHO TIRE CO., INC.: PRODUCT DEVELOPMENTS
                       TABLE 229 KUMHO TIRE CO., INC.: DEALS
                       TABLE 230 KUMHO TIRE CO., INC.: OTHERS
             14.1.10 ZHONGCE RUBBER GROUP CO., LTD.
                       TABLE 231 ZHONGCE RUBBER GROUP CO., LTD.: COMPANY OVERVIEW
                       TABLE 232 ZHONGCE RUBBER GROUP CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                       TABLE 233 ZHONGCE RUBBER CO., LTD.: PRODUCT DEVELOPMENTS
                       TABLE 234 ZHONGCE RUBBER CO., LTD.: DEALS
                       TABLE 235 ZHONGCE RUBBER CO., LTD.: OTHERS
     14.2 OTHER PLAYERS 
             14.2.1 SAILUN GROUP CO., LTD.
                       TABLE 236 SAILUN GROUP CO., LTD.: COMPANY OVERVIEW
             14.2.2 CHENG SHIN RUBBER IND. CO., LTD.
                       TABLE 237 CHENG SHIN RUBBER IND. CO., LTD.: COMPANY OVERVIEW
             14.2.3 APOLLO TYRES
                       TABLE 238 APOLLO TYRES: COMPANY OVERVIEW
             14.2.4 SHANDONG LINGLONG TYRE CO., LTD.
                       TABLE 239 SHANDONG LINGLONG TYRE CO., LTD.: COMPANY OVERVIEW
             14.2.5 GITI TIRE
                       TABLE 240 GITI TIRE: COMPANY OVERVIEW
             14.2.6 THE YOKOHAMA RUBBER CO., LTD.
                       TABLE 241 THE YOKOHAMA RUBBER CO., LTD.: COMPANY OVERVIEW
             14.2.7 COOPER TIRE & RUBBER COMPANY
                       TABLE 242 COOPER TIRE & RUBBER COMPANY: COMPANY OVERVIEW
             14.2.8 NEXEN TIRE
                       TABLE 243 NEXEN TIRE: COMPANY OVERVIEW
             14.2.9 TOYO TIRES
                       TABLE 244 TOYO TIRES: COMPANY OVERVIEW
             14.2.10 CEAT LIMITED
                       TABLE 245 CEAT LIMITED: COMPANY OVERVIEW
             14.2.11 BALKRISHNA INDUSTRIES LTD.
                       TABLE 246 BALKRISHNA INDUSTRIES LTD.: COMPANY OVERVIEW
             14.2.12 KENDA RUBBER INDUSTRIAL CO., LTD.
                       TABLE 247 KENDA RUBBER INTERNATIONAL CO., LTD.: COMPANY OVERVIEW
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
 
15 RECOMMENDATIONS BY MARKETSANDMARKETS (Page No. - 253)
     15.1 ASIA PACIFIC TO BE LARGEST MARKET FOR ELECTRIC VEHICLE TIRES 
     15.2 TIRE MANUFACTURERS PREFER HIGH-PERFORMANCE ELECTRIC VEHICLE TIRES 
     15.3 CONCLUSION 
 
16 APPENDIX (Page No. - 255)
     16.1 KEY INSIGHTS FROM INDUSTRY EXPERTS 
     16.2 DISCUSSION GUIDE 
     16.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     16.4 CUSTOMIZATION OPTIONS 
     16.5 RELATED REPORTS 
     16.6 AUTHOR DETAILS 

The study involved four major activities to estimate the current size of the electric vehicle tires market. Exhaustive secondary research was done to collect information on the market, the peer market, and model mapping. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The bottom-up and top-down approaches were employed to estimate the total market size. After that, market breakdown and data triangulation were used for determining the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources have been used to identify and collect information for this study. The secondary sources include annual reports; press releases, and investor presentations of companies; whitepapers, certified publications, articles from recognized authors, directories, and databases; and articles from recognized associations and government publishing sources. Secondary research has been used to obtain key information about the industry’s value chain, the overall pool of key players, market classification and segmentation according to industry trends to the bottom-most level, regional markets, and key developments from the market- and technology-oriented perspectives.

Primary Research

Extensive primary research has been conducted after understanding the EV Tire market scenario through secondary research. Several primary interviews have been conducted with market experts from both the demand-side EV manufacturers [country-level government associations and trade associations] and supply-side OEMs and component manufacturers across five major regions, namely, North America, Europe, and Asia Pacific. Approximately 23% and 77% of primary interviews have been conducted from the demand and supply sides, respectively. Primary data has been collected through questionnaires, emails, and telephonic interviews. In the canvassing of primary interviews, we have strived to cover various departments within organizations, such as sales, operations, and administration, to provide a holistic viewpoint in our report.

After interacting with industry experts, we also conducted brief sessions with highly experienced independent consultants to reinforce the findings from our primaries. This, along with the in-house subject matter expert opinions, led us to the findings as described in the remainder of this report.

Electric Vehicle Tires Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

A detailed market estimation approach was followed to estimate and validate the volume & value of the electric vehicle tires market. Key players in the market were identified through secondary research, and their global market shares were determined through primary and secondary research. The research methodology included the study of the annual and quarterly financial reports & regulatory filings of major market players, as well as interviews with industry experts for detailed market insights. All major penetration rates, percentage shares, splits, and breakdowns for the market were determined using secondary sources, model mapping, and verified through primary sources. All key macro indicators affecting the revenue growth of the market segments and subsegments were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the validated and verified quantitative & qualitative data. The gathered market data was consolidated and added with detailed inputs, analyzed, and presented in this report.

Global Electric Vehicle Tires Market Size: Bottom-Up Approach

Electric Vehicle Tires Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Global Electric Vehicle Tires Market Size: Top-Down Approach

Electric Vehicle Tires Market Size, and Share

 

Data Triangulation

 

All percentage shares, splits, and breakdowns were determined using secondary sources and verified by primary sources. All parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, and analyzed to obtain the final quantitative and qualitative data. This data was consolidated, enhanced with detailed inputs and analysis from MarketsandMarkets, and presented in the report. The following figure is an illustrative representation of the overall market size estimation process employed for this study.

Market Definition

Electric Vehicle Tires: Electric vehicle tires are defined as tires catered towards specific needs and challenges associated with electric vehicles, such as increased weight of the vehicle, higher torque from electric powertrain, and more. Electric vehicle tires are expected to offer lower rolling resistance and lower road noise compared to standard automotive tires. Usage of silica, nylon, steel belts, and synthetic rubber in the construction process adds these features and improves the traction and safety of electric vehicles in different conditions.

Key Stakeholders

  • Associations, Forums, and Alliances related to Electric vehicle tires
  • Automobile Manufacturers
  • Automotive Component Manufacturers
  • Automotive Investors
  • Aftermarket and Tire Retreading Associations
  • Companies Operating in Autonomous Vehicle Ecosystem
  • Electric Pick-up Truck Manufacturers
  • Electric Medium and Heavy-duty Truck Manufacturers
  • Distributors and Retailers
  • EV Component Manufacturers
  • EV Distributors and Retailers
  • Government Agencies and Policy Makers
  • Electric Vehicle Tires Manufacturers
  • Electric Vehicle Tire Traders, Distributors, and Suppliers
  • Government and Research Organizations
  • Original Equipment Manufacturer (OEM)
  • Organized and Unorganized Aftermarket Suppliers
  • Raw Material Suppliers of Tires/Tire Components (Suppliers for Tier I)
  • Transport Authorities
  • Technology Providers

Report Objectives

  • To segment and forecast the size of the global electric vehicle tires market, by volume and value, based on propulsion type (BEV, PHEV, HEV, and FCEV)
  • To segment and forecast the size of the global electric vehicle tires market, by volume and value, based on vehicle type (passenger cars, light commercial vehicles, heavy commercial vehicles, and buses)
  • To segment and forecast the size of the global electric vehicle tires market, by volume and value, based on rim size (13–15”, 16–18”, 19–21” and >21”)
  • To segment and forecast the size of the global electric vehicle tires market, by volume and value at the global level, based on application (on-road and off-road)
  • To segment and forecast the size of the global electric vehicle tires market by volume at global level, based on load index (less than 100, above 100)
  • To segment and qualitatively cover the sales channel (OEM and Aftermarket)
  • To segment and forecast the market size, by volume and value, based on region (Asia Pacific, Europe, and North America)

Available Customizations

With the given market data, MarketsandMarkets offers customizations in accordance to the company’s specific needs.

  • Electric Vehicle Tires Market, By Vehicle Type at Country Level
  • Electric vehicle Tires Market, By Rim Size at Country Level
  • Electric Vehicle Tires Market, By Propulsion Type at Country Level
  • Profiling of Additional Market Players (Up to 3)
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