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3. Electric Vehicle Tires Industry - Forthcoming Trends to Fuel the Global Growth

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%. Factors such as increasing sales of elecrtric passenger cars amid growing concerns about carbon emissions are expected to increase the demand for electric vehicle tires for electric vehicles. Also, increasing support from governments for electrification of vehciels is also expected to support the revenue growth of the electric vehicle tires during the forecast period.

The electric vehicle tires industry is undergoing rapid evolution, driven by emerging trends and global forecasts.

Emerging trends in the global Electric Vehicle Tires Market are:

• Performance-Oriented Tire Demand
• Low Rolling Resistance
• Quieter Ride Technology
• Extended Tread Life
• Durability and Heat Resistance
• Smart Tire Integration
• Sustainable Materials

These trends highlight the dynamic landscape of the Electric Vehicle Tires Market, driven by the unique requirements of electric vehicles and evolving consumer preferences towards sustainability and performance.

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

Performance-Oriented Tire Demand:

• The surge in electric vehicle adoption is driving a demand shift towards high-performance tires tailored specifically for EVs. These tires are engineered to handle the distinct characteristics of electric vehicles, such as instant torque delivery and battery weight, ensuring optimal performance and safety.

Low Rolling Resistance:

• Electric vehicle manufacturers are increasingly opting for tires with low rolling resistance to enhance energy efficiency and extend driving range. These tires minimize friction with the road surface, resulting in improved fuel efficiency and extended range for electric vehicles.

Quieter Ride Technology:

• Tire manufacturers are innovating with silent tire technology to complement the quiet operation of electric vehicles. These tires are designed to reduce road noise and vibrations, delivering a quieter and more comfortable driving experience for EV owners.

Extended Tread Life:

• With the additional weight of battery packs in electric vehicles, there's a growing demand for tires with extended tread life. These tires are engineered to withstand the heavier load and maintain performance over a longer period, reducing the need for frequent tire replacements.

Durability and Heat Resistance:

• To withstand the torque generated by electric motors, tire manufacturers are enhancing durability and heat resistance. This ensures that tires can handle the stresses of acceleration without compromising safety or performance.

Smart Tire Integration:

• The integration of smart tire technology is gaining traction in the EV tires market. Smart tires feature built-in sensors to monitor pressure, temperature, and tread wear in real-time, providing drivers with insights to optimize performance, safety, and efficiency.

Sustainable Materials:

• Tire manufacturers are exploring sustainable materials and manufacturing processes to reduce environmental impact. This includes eco-friendly alternatives such as recycled rubber, bio-based materials, and sustainable manufacturing practices to align with growing sustainability concerns.

Related Reports:

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