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Global Pneumatic Tire Market Size Projected to Reach $582.97 Billion During the Forecast Period

November 13, 2025 by The Business Research Company

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What Is The Anticipated Size Of The Pneumatic Tire Market Over The Five-Year Period 2025–2029?

The pneumatic tire market has grown strongly in recent years. It will rise from $392.55 billion in 2024 to $426.45 billion in 2025, registering a CAGR of 8.6%. The growth in the historic period was supported by the expansion of the automotive industry, improving economic conditions, environmental regulations, an increasing vehicle fleet, and shifting consumer preferences.

Anticipation is for the pneumatic tire sector to experience robust expansion across the coming years, projecting a rise to a market valuation of $582.97 billion by 2029, driven by an 8.1% compound annual growth rate (CAGR). This upward trajectory throughout the projection timeframe is fueled by several factors, notably the worldwide expansion of commerce, fluctuations in the cost of foundational materials, supportive governmental policies, ongoing progress in infrastructural construction, and the intense rivalry present amongst those producing tires. Key developments shaping this period are emerging technological breakthroughs, the incorporation of smart functionalities and sensor systems into tires, progress in developing novel tire components, enhancements in tire conceptualization and engineering, and the establishment of tire connectivity alongside vehicle-to-tire data exchange capabilities.

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What Are The Top Growth Drivers Impacting The Pneumatic Tire Market Outlook?

The prospective expansion of the pneumatic tire sector is anticipated to be fueled by a rise in the manufacturing output of automobiles. This automobile production encompasses the entire procedure of putting together parts to construct cars, lorries, and sundry motorized conveyances. Pneumatic tires are integral to contemporary transit methods because they facilitate vehicle movement across diverse terrains such as tarmac, cement, loose aggregate, soil, and sandy expanses. To illustrate this trend, data from the European Automobile Manufacturers’ Association (ACEA), an industry body situated in Belgium, indicated that global production of motor vehicles reached 85.4 million units in 2022 by May, demonstrating a 5.7% year-over-year rise compared to 2021. Consequently, the escalating volume of vehicle production is directly contributing to the advancement of the pneumatic tire market.

How Is The Pneumatic Tire Market Segmented?

The pneumatic tire market covered in this report is segmented –

1) By Product Type: Radial Tires, Cross-Ply Tires

2) By Vehicle Type: Two Wheelers, Four Wheelers, Passenger Cars, Aircraft, Other Vehicle Types

3) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

Subsegments:

1) By Radial Tires: Passenger Car Radial Tires, Light Truck Radial Tires, Truck And Bus Radial Tires, Motorcycle Radial Tires, Off-The-Road (OTR) Radial Tires

2) By Cross-Ply Tires: Passenger Car Cross-Ply Tires, Light Truck Cross-Ply Tires, Truck And Bus Cross-Ply Tires, Agricultural Cross-Ply Tires, Specialty Cross-Ply Tires

Which Trends Are Impacting The Pneumatic Tire Market?

Leading enterprises within the pneumatic tire sector are concentrating efforts on unveiling novel offerings, such as single-axle drive tires that utilize air pressure, as a means to boost their market earnings. Pneumatic single-axle drive tires are defined as air-filled tires intended for employment on commercial trucks and similar heavy-duty machinery, particularly for extended-distance hauling and strenuous operational requirements. To illustrate, by March of 2023, The Goodyear Tire & Rubber Company, an American tire producer, released its Fuel Max 1AD, which stands as a superior single-axle drive tire option tailored for super-regional transport tasks. This particular tire incorporates a creatively engineered tread geometry and integrates material properties and rubber compounds intended to grant superior service life before replacement is necessary. Furthermore, the newly introduced Fuel Max 1AD tire boasts supplemental characteristics and benefits, including a densely constructed waffle blade element, a tread design blending lug and rib characteristics, and a remarkably advanced new tread material formulation.

Which Major Firms Are Strengthening Their Position In The Pneumatic Tire Industry?

Major companies operating in the pneumatic tire market are Sumitomo Rubber Industries Ltd. (SRI), Continental AG, Bridgestone Corporation, Michelin, The Goodyear Tire & Rubber Company, Hankook tire Co. Ltd, Pirelli & C.S., The Yokohama rubber co. Ltd, Trelleborg AB, CST Tires, Apollo tires, Cooper tire & rubber company, MRF Tyres, Camso Solideal, JK tire & Industries Ltd, Nexen Tire Corporation, Nokian Tyres plc, Balkrishna Industries Limited (BKT), Aichi, TVS Rubber, Kumho tire Co, Purcell Tire & Rubber Co, Maxam Tire, Mitas Moto, Millennium Tire, Chaoyang Tires LLC, CM Rubber Technologies, TOKAI Solid Tire

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What Are The Regional Market Dynamics Impacting The Pneumatic Tire Industry?

Asia-Pacific was the largest region in the pneumatic tire market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the pneumatic tire market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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