How big is the Tire Market | Industry Trends & Forecast 2025

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Code: MTA9365

Publication Date: Sep 2025

How big is the Tire Market

According to 6Wresearch internal database and industry insights, the Tire Market was valued at USD 265.8 Billion in 2024 and is expected to reach USD 387.2 Billion by 2031, growing at a CAGR of 5.4% during the 2025-2031.

The market is on the rise with an increasing demand for passenger and commercial vehicles, higher acceptance of high-performance and energy-efficient tires, and rising demand for replacement tires. Technological advances in tire design and materials will also drive the market growth.

Growth Factors for Tire Industry

The increasing production and sales of vehicles are driving tire sales.
A growing preference for high-performance, energy-efficient tires and durable tires.
The growth of the replacement tire market is a result of an increase in vehicles in operation.
The growing adoption of innovations in tire manufacturing and raw materials.
Increased use of tires for business and off-road, agricultural, and industrial applications.

Tire Market Trends

The tire market is demonstrating the trend of sustainability and energy efficiency. There is a growing demand for tires with low rolling resistance to improve fuel efficiency. Smart and connected tires are on the way to the market, featuring embedded sensors to assist with monitoring tire performance and safety. Adoption of radial and run-flat tires is expected to accelerate. Also, tire manufacturers are applying sustainable approaches to produce tire products utilizing recycled rubbers and bio-based materials. Sustainability and energy-efficient tire manufacturing will continue to influence trends for innovation and consumer preferences.

Emerging Developments in the Tire Market

The tire market developments include innovations in smart and connected tire technologies for real-time monitoring and predictive maintenance. Companies are investing in sustainable materials, including recycled and bio-based rubber. Expansion of manufacturing facilities with automated production lines is enhancing output efficiency. Partnerships and collaborations with automotive manufacturers are enabling the development of high-performance tires for electric vehicles. Increased focus on R&D for durable, fuel-efficient, and eco-friendly tires is driving market growth.