Tires Market Growth Analysis, Market Dynamics, Key Players and Innovations, Outlook and Forecast 202

On : 09 february 2024

• As of 2024, the global tire market is estimated to be worth US$ 161,790 million, with projections indicating a rise to US$ 204,870 million by 2031, growing at a CAGR of 3.5% from 2025 to 2031. The tire production value in China was US$ 38,945.8 million in 2022, expected to reach US$ 60,246.2 million by 2029, reflecting a 5.92% growth rate from 2023 to 2029. Meanwhile, the North American tire production value stood at US$ 29,728.3 million in 2022, anticipated to rise to US$ 37,754.3 million by 2029 at a growth rate of 4.28%.

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Report Studies

• The global tire market encompasses the production, distribution, and sale of tires for various vehicles, including automobiles, bicycles, motorcycles, and industrial equipment. Tires are crucial components that provide traction, stability, and durability, ensuring safety and performance across different terrains and conditions. Advances in tire technology, such as eco-friendly materials, fuel-efficient designs, and smart tire monitoring systems, are shaping the market's evolution.

• This report provides a deep insight into the global tire market, covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trends, niche market, key market drivers and challenges, SWOT analysis, and value chain analysis.

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Tires Market Growth Analysis, Market Dynamics, Key Players and Innovations, Outlook and Forecast 202

Published on Feb 10, 2025

MarketResearch

As of 2024, the global tire market is estimated to be worth US$ 161,790 million, with projections indicating a rise to US$ 204,870 million by 2031, growing at a CAGR of 3.5% from 2025 to 2031. The tire production value in China was US$ 38,945.8 million in 2022, expected to reach US$ 60,246.2 million by 2029, reflecting a 5.92% growth rate from 2023 to 2029. Meanwhile, the North American tire production value stood at US$ 29,728.3 million in 2022, anticipated to rise to US$ 37,754.3 million by 2029 at a growth rate of 4.28%. The China Tires production value was US$ 38,945.8 million in 2022 and it will be US$ 60,246.2 million in 2029, with a growth rate 5.92% from 2023 to 2029. https://www.intelmarketresearch.com/download-free-sample/128/tires

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Tires Market Growth Analysis, Market Dynamics, Key Players and Innovations, Outlook and Forecast 202

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