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report thumbnailElectric Vehicle Tires Market

Electric Vehicle Tires Market 28.07 CAGR Growth Outlook 2025-2033

Electric Vehicle Tires Market by Vehicle Type (Passenger Car, Commercial Vehicle), by Propulsion Type (Battery Electric Vehicle (BEV), by Sales Channel (OEM, Aftermarket), by Tire Size (Up to 17”, 18" to 21", Above 21"), by North America (U.S., Canada, Mexico), by Europe (U.K., Germany, France, Rest of Europe), by Asia Pacific (China, India, Japan, Rest of Asia Pacific) Forecast 2025-2033

Base Year: 2024
180 Pages
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Electric Vehicle Tires Market 28.07 CAGR Growth Outlook 2025-2033

Key Insights

The Electric Vehicle Tires Market size was valued at USD 17.24 USD Billion in 2023 and is projected to reach USD 97.42 USD Billion by 2032, exhibiting a CAGR of 28.07 % during the forecast period. Electric vehicle tires are designed and engineered to meet the specific needs of electric vehicles. EV tires have features to enhance efficiency, range, and performance. These tires play an important role in supporting the distinct characteristics of electric propulsion systems. EV tires have thicker sidewalls and more robust compounds, either nylon or heavier. They are used in trucks, buses, cars, and others. There are several features of electric vehicle tires, such as low rolling resistance, weight considerations, noise reduction, optimized tread patterns, enhanced durability, thermal management,  and more. Advancements in tire manufacturing technology, materials science, and tread design are driving innovation in the EV tire market. Manufacturers are developing tires with specialized compounds, tread patterns, and construction techniques to meet the unique performance requirements of electric vehicles, including enhanced traction, durability, and efficiency.

Electric Vehicle Tires Market Research Report - Market Size, Growth & Forecast

Electric Vehicle Tires Trends

  • Rising demand for electric vehicles
  • Governments' push for environmentally friendly transportation
  • Technological advancements in tire design
  • Focus on sustainability and circularity

Driving Forces: What's Propelling the Electric Vehicle Tires Market

  • Government incentives for electric vehicle adoption
  • Increasing awareness about environmental concerns
  • Innovations in tire materials and construction
  • Growing demand for high-performance tires

Challenges and Restraints in Electric Vehicle Tires Market

  • High cost of electric vehicle tires
  • Limited availability of charging infrastructure
  • Range anxiety among consumers
  • Competition from traditional tire manufacturers

Emerging Trends in Electric Vehicle Tires

  • Use of recycled materials in tire production
  • Development of smart tires with sensors
  • Personalized tire recommendations based on driving style

Growth Catalysts in Electric Vehicle Tires Industry

Electric Vehicle Tires Market Growth

  • Accelerating adoption of electric vehicles driven by government incentives, technological advancements, and environmental concerns
  • Increasing investments in electric vehicle research and development, focusing on improving battery life, range, and charging efficiency
  • Strategic partnerships between tire manufacturers and electric vehicle companies, enabling the development of tires specifically tailored for electric vehicles with unique performance requirements
  • Expansion of electric vehicle charging infrastructure, making electric vehicles more convenient and accessible, leading to increased demand for electric vehicle tires
  • Government regulations and policies promoting the adoption of electric vehicles, such as emission reduction targets and tax incentives

Market Segmentation: Electric Vehicle Tires Analysis

Vehicle Type:

  • Passenger Car
  • Commercial Vehicle

Propulsion Type:

  • Battery Electric Vehicle (BEV)

Sales Channel:

  • OEM
  • Aftermarket

Tire Size:

  • Up to 17”
  • 18" to 21"
  • Above 21"

Leading Players in the Electric Vehicle Tires Market

Significant developments in Electric Vehicle Tires Sector

  • Michelin's launch of the ePrimacy tire designed specifically for electric vehicles
  • Continental's development of the ContiEcoContact EM for reduced rolling resistance and increased range
  • Goodyear's introduction of the ElectricDrive GT tire with a long tread life and quiet ride

Comprehensive Coverage Electric Vehicle Tires Market Report

The report provides a comprehensive analysis of the electric vehicle tires market, including:

  • Market size and growth forecast
  • Market drivers and restraints
  • Key trends and industry developments
  • Competitive landscape and major players
  • SWOT analysis and growth strategies

Regional Insight

  • North America: High adoption of electric vehicles and strong government support for the industry
  • Europe: Stringent emission regulations and government incentives are driving electric vehicle growth
  • Asia Pacific: Rapid urbanization, increasing disposable income, and government initiatives are fueling electric vehicle adoption
  • South America: Growing awareness of environmental issues and government support are driving electric vehicle demand
  • Middle East & Africa: Adoption is lagging due to infrastructure challenges and limited government incentives

Pricing Strategies

  • Tiered pricing based on tire size and performance
  • Discounts and promotions for bulk purchases
  • OEM contracts with electric vehicle manufacturers

Segmentation

  • By vehicle type, propulsion type, sales channel, and tire size

Swot Analysis

  • Identifies strengths, weaknesses, opportunities, and threats in the market

Electric Vehicle Tires Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2019-2033
Base Year 2024
Estimated Year 2025
Forecast Period2025-2033
Historical Period2019-2024
Growth RateCAGR of 28.07% from 2019-2033
Segmentation
    • By Vehicle Type
      • Passenger Car
      • Commercial Vehicle
    • By Propulsion Type
      • Battery Electric Vehicle (BEV
    • By Sales Channel
      • OEM
      • Aftermarket
    • By Tire Size
      • Up to 17”
      • 18" to 21"
      • Above 21"
  • By Geography
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific

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