Global Electric Vehicle Tire Market Overview: Latest Trends, Industry Size, Share and Growth Projection
“Markntel Advisors – Leading Market Research Company” has recently conducted a comprehensive examination of the Global Electric Vehicle Tire Market, encompassing the forecast period from 2024-30. Utilizing data from the historical period of 2019-22, with 2023 serving as the base year, our proficient team of analysts has devoted considerable time to gather and scrutinize the latest market information. The result is a thorough and current report that proves valuable for individuals making data-driven decisions, including business owners and analysts. Whether your objective is to explore new markets, introduce a new product, or maintain a competitive edge, our research report on the Electric Vehicle Tire Market offers well-researched facts and figures relevant to the industry.
Electric Vehicle Tire Market Driver
Rising Production of EVs Worldwide Uplifting the Requirement for Electric Vehicle Tires– In recent years, Greenhouse emissions have increased at an alarming rate due to the consistent increase in transportation activities & rapid industrialization. As per the International Energy Agency, in 2022, more global emissions reached approximately 8 Gt, an increase of about 250 Mt or about 3% compared to the previous year. These emissions contribute to global warming and air pollution, leading to adverse health effects and environmental degradation. Therefore, the official authorities across the globe are encouraging the adoption of sustainable transportation modes, including EVs. This, in turn, is resulting in the increased sales of EVs across the Globe, facilitating the requirement for EV-specific tires. Also, to cater to this growing demand for EVs, top companies are expanding their production units. For instance, in 2024, BYD announced to set up an EV manufacturing facility in Turkey. Similarly, other players are also ramping up the production of EVs, which would generate the demand for EV-specific tires directly from the original equipment manufacturers and contribute to enlarging the market size during the forthcoming years.
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Electric Vehicle Tire Market Segmentation Analysis:
The Electric Vehicle Tire Market displays a notable combination of robustness and fragmentation, featuring various segments each further subdivided into various sub-segments. Recognizing the significance of market segmentation is crucial for businesses aiming to tailor their strategies, products, and services to align with the specific needs and demands of their target customers. A thorough analysis of market segments and their associated sub-segments empowers businesses to pinpoint new growth opportunities, predict market trends, and devise impactful marketing and sales strategies.
The Global Electric Vehicle Tire Market is segmented as follows:
By Type of Tire
- Radial
- Bias
By Vehicle Type
- Passenger Car
- Two Wheeler & Three Wheeler
- Commercial Vehicle
- Others
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”
- 12.1” to 15”
- 15.1.” to 18”
- 18.1” to 20”
- 20.1” to 22.5”
- 22.6” to 30”
- 30.1” to 35”
- 35.1” to 47”
- Above 47”
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
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Leading Electric Vehicle Tire Market Player
The report delves into key market players and thoroughly examines their strategic approaches, trends, innovations, and manufacturing infrastructure to project their anticipated market presence over the next five years. The researched data has the capability to differentiate even novice entrants in the long term. Armed with pertinent data and actionable insights, our research report presents a comprehensive landscape of the market, empowering investors and stakeholders to establish a robust position in the Electric Vehicle Tire market. Highlighted in the research report are major players, including:
- 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
accompanied by their respective net worth and valuation in USD.
Note - If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Key Questions Answered in this Electric Vehicle Tire Market Analysis Report
- What is the current size of the Electric Vehicle Tire Market, and what factors contribute to its growth or contraction?
- How does the Electric Vehicle Tire Market share compare among key players, and what strategies are they employing to gain a competitive advantage?
- What latest trends are emerging in the Electric Vehicle Tire Market, and how are these trends expected to evolve in the foreseeable future?
- What is the demand outlook for the Electric Vehicle Tire Market, and how is it influenced by industry-specific factors and broader economic trends?
- What opportunities exist in the Electric Vehicle Tire Market for investors, and what are the latest investment trends and preferences in this sector?
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