Global Four-Wheeler Tires Market Valued at US$ 187.5 Billion in 2023, Projected to Reach US$ 365.5 Billion by 2032

The global four-wheeler tires market was valued at US$ 187.5 billion in 2023 and is projected to attain a market size of US$ 365.5 billion by 2032,

CHICAGO, CA, UNITED STATES, September 13, 2024 /EINPresswire.com/ -- The global 𝐟𝐨𝐮𝐫-𝐰𝐡𝐞𝐞𝐥𝐞𝐫 𝐭𝐢𝐫𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭, a crucial segment of the automotive industry, demonstrated a valuation of 𝐔𝐒$ 𝟏𝟖𝟕.𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑. According to recent market analysis, this sector is projected to experience substantial growth, reaching a market size of 𝐔𝐒$ 𝟑𝟔𝟓.𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐. This impressive expansion represents a compound annual growth rate (𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟕.𝟕% over the forecast period from 𝟐𝟎𝟐𝟒 𝐭𝐨 𝟐𝟎𝟑𝟐.

𝐓𝐡𝐞 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞- https://www.astuteanalytica.com/request-sample/four-wheeler-tires-market

The projected growth of the four-wheeler tires market is driven by several factors, including increasing vehicle production and sales, rising consumer demand for high-performance and durable tires, and advancements in tire technology. The market's expansion is also supported by the growing focus on vehicle safety and environmental sustainability, leading to innovations in tire design and materials.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

𝐃𝐫𝐢𝐯𝐞𝐫: 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐢𝐧𝐠 𝐕𝐞𝐡𝐢𝐜𝐥𝐞 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐒𝐚𝐥𝐞𝐬 𝐁𝐨𝐨𝐬𝐭𝐢𝐧𝐠 𝐓𝐢𝐫𝐞 𝐃𝐞𝐦𝐚𝐧𝐝 𝐖𝐨𝐫𝐥𝐝𝐰𝐢𝐝𝐞

The global automotive industry has witnessed a significant surge in vehicle production and sales, which has been a major driver for the Four-wheeler tires market. In 2023, over 93 million vehicles were produced worldwide, marking a notable increase from previous years. China, the United States, and Japan collectively accounted for more than 50 million of these vehicles, underscoring their dominance in the automotive sector. India's automotive market saw a remarkable addition of 4 million vehicles, reflecting its growing influence. Meanwhile, Europe contributed approximately 20 million vehicles to the global tally, with Germany leading the charge. This increased production naturally escalates the demand for tires, as every new vehicle requires multiple sets throughout its lifecycle. The burgeoning demand is further accentuated by the commercial vehicle sector, which saw the addition of 25 million units globally, driven by the e-commerce boom and logistical needs.

The passenger vehicle segment of the four-wheeler tires market, accounting for nearly 75.5 million units, has been the primary contributor to this demand. The rise in electric vehicle (EV) production is also noteworthy, with EV sales reaching 14.2 million units, necessitating specialized tires to accommodate different performance characteristics. Additionally, the automotive aftermarket, valued at $723 billion, further amplifies tire demand as consumers seek replacements and upgrades. With the global tire market estimated to be worth $225 billion, the correlation between vehicle production and tire demand is evident. As the world marches toward an estimated 100 million vehicle productions annually by 2025, the tire industry stands poised for continued growth.

Key trends contributing to the market's growth include the shift towards eco-friendly and fuel-efficient tires, the development of smart tires with advanced sensors, and the rising adoption of electric vehicles (EVs). As the automotive industry evolves, the demand for tires that enhance vehicle performance and safety while reducing environmental impact continues to rise.

• Aeolus Tyres
• Bridgestone
• Cheng Shin Rubber
• Continental
• Cooper tire
• Double Coin
• Giti Tire
• Goodyear
• Hankook
• KUMHO TIRE
• Linglong Tire
• Michelin
• Pirelli
• Sumitomo Rubber
• Toyo Tires
• Triangle Tire Group
• Xingyuan group
• YOKOHAMA
• ZC Rubber
• Other Players

Leading players in the global four-wheeler tires market are investing in research and development to introduce innovative products that cater to changing consumer preferences and regulatory standards. These efforts are expected to further drive market growth and competitive dynamics.

𝐅𝐨𝐫 𝐦𝐨𝐫𝐞 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐟𝐨𝐮𝐫-𝐰𝐡𝐞𝐞𝐥𝐞𝐫 𝐭𝐢𝐫𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐚𝐧𝐝 𝐭𝐨 𝐚𝐜𝐜𝐞𝐬𝐬 𝐝𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐢𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐜𝐨𝐧𝐭𝐚𝐜𝐭:- https://www.astuteanalytica.com/industry-report/four-wheeler-tires-market

The market's growth is also supported by increasing infrastructure development and urbanization, which fuel the demand for personal and commercial vehicles. As economies around the world continue to recover and expand, the automotive sector's growth will likely translate into increased demand for four-wheeler tires.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰:

𝐁𝐲 𝐓𝐢𝐫𝐞 𝐓𝐲𝐩𝐞

• Radial
• Bias

𝐁𝐲 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐓𝐲𝐩𝐞

• Steer
• Drive
• Trailer

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

• Passenger Cars
• Light Trucks
• Truck
• Bus
o Off-Road Vehicles
o Recreational Off-Highway Vehicles (ROV)
o Utility Task Vehicles (UTV)
o All-Terrain Vehicles (ATV)

𝐁𝐲 𝐖𝐞𝐢𝐠𝐡𝐭

• < 50 Kg
• 50 - 80 Kg
• 81 - 100 Kg
• 101 - 150 Kg
• >150Kg

𝐁𝐲 𝐃𝐢𝐬𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐂𝐡𝐚𝐧𝐧𝐞𝐥

• OEMs
• Aftermarket

o Brand Stores
o Independent Tire dealers
o Retail Tire Chains

𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧

• North America
o The U.S.
o Canada
o Mexico

• 𝐄𝐮𝐫𝐨𝐩𝐞

o Western Europe
 U.K.
 Germany
 France
 Spain
 Italy
 Rest of Western Europe
o Eastern Europe
 Poland
 Russia
 Rest of Eastern Europe

• 𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜

o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific

• 𝐌𝐢𝐝𝐝𝐥𝐞 𝐄𝐚𝐬𝐭 & 𝐀𝐟𝐫𝐢𝐜𝐚 (𝐌𝐄𝐀)

o UAE
o Saudi Arabia
o South Africa
o Rest of MEA

• 𝐒𝐨𝐮𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚

o Argentina
o Brazil
o Rest of South America

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/four-wheeler-tires-market

𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜

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Astute Analytica
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