Market by Tire Type, Rim Size, Distribution Channel, and Regional Outlook | Forecast 2022-2028
Tire aftermarket and
tire replacement refer to replacement tires that provide all-around capability
on any vehicle for which they are sized and rated. They generally focus on one
or two performance qualities that are indicated to be significant in terms of
tread life, traction, or ride comfort. This allows the user to tailor the car
to their needs and driving patterns. For instance, employing more
performance-oriented tires that focus on the handling characteristics of sports
and performance cars or all-terrain tires to help an SUV or truck maneuver
through mud and dirt.
According to Triton Market Research’s analysis, the Global Tire Aftermarket, Tire Replacement Market is likely to grow with a CAGR of 4.43% during the forecast period 2022-2028. The market gained $72.35 billion in 2021 and is estimated to reach $93.38 billion by 2028.
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MARKET PERFORMANCE: DRIVERS,
CHALLENGES, AND TRENDS
Factors such as growing demand for fuel-efficient tires and
mandatory tire labeling norms are boosting the studied market growth. In recent years, the fuel price has soared
significantly. In 2020, the average closing price of crude oil was around
$39.68, further rising to $97.64 in 2022. This unpredictability in pricing
makes it difficult for automobile component producers to foresee demand for
their goods. As a result, energy-efficient tires, also known as
low-rolling-resistance tires, have emerged as a cost-effective solution for
automobile manufacturers.
However, the volatile cost of raw materials poses a significant
challenge to the market’s growth. Most
rubber used for tires is procured from Southeast Asian nations such as
Malaysia, Vietnam, and Thailand. Any disruption in the supply chain of these
nations could disrupt the market. Further, in tire manufacturing,
petroleum-based reinforcing compounds such as nylon and polyester are used as
raw ingredients. The price of these raw ingredients has a major impact on the
cost of a tire. Also, since these commodities are traded in the public market,
their prices fluctuate in response to global economic movements.
Nevertheless, tubeless tires are predicted to create opportunities for the tire aftermarket, tire replacement market. Instead of air, tires include a network of spokes that keep the wheels rigid while giving them a transparent look. Moreover, electric cars require low-noise, fuel-efficient tires. The introduction of electric vehicles and their decreased propulsion noise output enables a more accurate assessment of tire-road noise using cruise-by measurements, even at speeds where a combustion engine propulsion system would ordinarily alter the test results.
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KEY GEOGRAPHIES COVERED:
●
North America: United States and Canada
●
Europe: United Kingdom, France, Germany, Spain, Italy, Slovakia,
Czech Republic, and Rest of Europe
●
Asia-Pacific: China, Japan, India, South Korea, ASEAN Countries,
Australia & New Zealand, and Rest of Asia-Pacific
●
Latin America: Brazil, Mexico, and Rest of Latin America
●
Middle East and Africa: United Arab Emirates, Saudi Arabia,
Turkey, Israel, South Africa, and Rest of Middle East & Africa
SEGMENTATION ANALYSIS - TIRE
REPLACEMENT, TIRE AFTERMARKET MARKET:
• Market by Tire Type:
o Radial
Tire
o Bias
Tire
• Market by Rim Size:
o 13-
15 Inches
The 13-15 rim size category captures the largest
share in the segment.
This size is widely opted for in passenger vehicles. The rising demand for
passenger vehicles in emerging nations such as India, Brazil, and ASEAN
countries is likely to drive the 13- 15 rim size category due to urbanization.
o 16
-18 Inches
o 19
-21 Inches
o More
than 21 Inches
• Market by Distribution Channel:
o Original
Equipment Supplier (OES)
The market’s fastest-growing distribution
channel category is predicted to be an original equipment supplier. OES parts are manufactured on the same
assembly line as OEM parts but with a few additional stages. Before being
wrapped and labeled, the part is branded or stamped with the company’s logo. In
this regard, the certification requirements of ISO (International Organization
for Standardization) demand OES trademarks.
o Independent
Aftermarket (IAM)
COMPETITIVE LANDSCAPE
The tire aftermarket, tire replacement market by
company profile helps dive into data about the key players in this industry.
The strategic initiatives for each of the companies considered have been
covered in detail.
Investment (October 2022): Pirelli
Pirelli announced
the investment of $111.26 million in a tire plant at Silao, Mexico.
Product Launch (August 2022):
Apollo Tyres
Apollo Tyres launched five bus and truck radial tires for the Indian
market. These tires are a combination of all-wheel fitment, steer, drive, and
tires.
Partnership (August 2022):
Bridgestone and Microsoft
Bridgestone and Microsoft collaborated to deliver Bridgestone mobility
solutions platforms for new mobility players, OEMs, and fleets in the tire
market.
Key Benefits of the Report:
●
Triton Market Research has a collective experience of 25-30 years
in the industry, with its analysts and experts encompassing the most infallible
research methodology for its market intelligence and industry analysis.
●
Our research methodology helps in achieving a broader consensus of
the market size, shape, and industry trends within each industry segment.
●
The strategy adopted in designing the research methodology
includes the amalgamation of the information assembled from primary and
secondary sources, with the assistance of analytical tools to construct the
forecast and predictive models.
●
The scope of the market report comprises the current scenario of
the global tire aftermarket, tire replacement market, along with the detailed
overview of the industry outlook, market dynamics, segmentation analysis,
regional outlook, and competitive landscape for the period 2022-2028.
FAQs:
Q 1) Which are the segments
covered in the global tire aftermarket, tire replacement market report?
The segments covered in the tire aftermarket, tire replacement market
comprises tire type, rim size, and distribution channel.
Q
2) Does the report cover major tire aftermarket, tire replacement market in the
Middle East?
Yes, the report includes major automotive markets in Middle Eastern
nations such as Saudi Arabia, United Arab Emirates, Israel, etc.
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VIEW REPORT1. GLOBAL
TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. KEY INSIGHTS
2.1.1. GROWING
INCLINATION TOWARD THE DEVELOPMENT OF AIRLESS TIRES
2.1.2. TIRE
CUSTOMIZATION AND PERSONALIZATION ACCELERATE MARKET EXPANSION
2.2. IMPACT
OF COVID-19 ON THE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. MARKET
ATTRACTIVENESS INDEX
2.5. VENDOR
SCORECARD
2.6. KEY
MARKET STRATEGIES
2.6.1. MERGERS
& ACQUISITIONS
2.6.2. PRODUCT
LAUNCHES
2.6.3. PARTNERSHIPS
2.6.4. INVESTMENTS
AND DIVESTMENT
2.7. MARKET
DRIVERS
2.7.1. SPIKE
IN DEMAND FOR FUEL-EFFICIENT TIRES
2.7.2. MANDATORY
TIRE LABELING NORMS
2.8. MARKET
CHALLENGE
2.8.1. UNCERTAINTY
IN THE PRICING OF AUTOMOTIVE RAW MATERIALS
2.9. MARKET
OPPORTUNITY
2.9.1. ELECTRIC
VEHICLE TIRE REPLACEMENT IS A LUCRATIVE SEGMENT
3. GLOBAL
TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - BY TIRE TYPE
3.1. RADIAL
TIRE
3.2. BIAS
TIRE
4. GLOBAL
TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - BY RIM SIZE
4.1. 13- 15
INCHES
4.2. 16 -18
INCHES
4.3. 19-21
INCHES
4.4. MORE
THAN 21 INCHES
5. GLOBAL
TIRE AFTERMARKET, TIRE REPLACEMENT MARKET - BY DISTRIBUTION CHANNEL
5.1. ORIGINAL
EQUIPMENT SUPPLIER (OES)
5.2. INDEPENDENT
AFTERMARKET (IAM)
6. GLOBAL
TIRE AFTERMARKET, TIRE REPLACEMENT MARKET – REGIONAL OUTLOOK
6.1. NORTH
AMERICA
6.1.1. MARKET
BY TIRE TYPE
6.1.2. MARKET
BY RIM SIZE
6.1.3. MARKET
BY DISTRIBUTION CHANNEL
6.1.4. COUNTRY
ANALYSIS
6.1.4.1. UNITED
STATES
6.1.4.2. CANADA
6.2. EUROPE
6.2.1. MARKET
BY TIRE TYPE
6.2.2. MARKET
BY RIM SIZE
6.2.3. MARKET
BY DISTRIBUTION CHANNEL
6.2.4. COUNTRY
ANALYSIS
6.2.4.1. UNITED
KINGDOM
6.2.4.2. GERMANY
6.2.4.3. FRANCE
6.2.4.4. SPAIN
6.2.4.5. ITALY
6.2.4.6. SLOVAKIA
6.2.4.7. CZECH
REPUBLIC
6.2.4.8. REST
OF EUROPE
6.3. ASIA-PACIFIC
6.3.1. MARKET
BY TIRE TYPE
6.3.2. MARKET
BY RIM SIZE
6.3.3. MARKET
BY DISTRIBUTION CHANNEL
6.3.4. COUNTRY
ANALYSIS
6.3.4.1. CHINA
6.3.4.2. JAPAN
6.3.4.3. INDIA
6.3.4.4. SOUTH
KOREA
6.3.4.5. ASEAN
COUNTRIES
6.3.4.6. AUSTRALIA
& NEW ZEALAND
6.3.4.7. REST
OF ASIA-PACIFIC
6.4. LATIN
AMERICA
6.4.1. MARKET
BY TIRE TYPE
6.4.2. MARKET
BY RIM SIZE
6.4.3. MARKET
BY DISTRIBUTION CHANNEL
6.4.4. COUNTRY
ANALYSIS
6.4.4.1. BRAZIL
6.4.4.2. MEXICO
6.4.4.3. REST
OF LATIN AMERICA
6.5. MIDDLE
EAST AND AFRICA
6.5.1. MARKET
BY TIRE TYPE
6.5.2. MARKET
BY RIM SIZE
6.5.3. MARKET
BY DISTRIBUTION CHANNEL
6.5.4. COUNTRY
ANALYSIS
6.5.4.1. UNITED
ARAB EMIRATES
6.5.4.2. SAUDI
ARABIA
6.5.4.3. TURKEY
6.5.4.4. SOUTH
AFRICA
6.5.4.5. ISRAEL
6.5.4.6. REST
OF MIDDLE EAST & AFRICA
7. COMPETITIVE
LANDSCAPE
7.1. MICHELIN
7.2. BRIDGESTONE
CORPORATION
7.3. CONTINENTAL
AG
7.4. GOODYEAR
TIRES
7.5. PIRELLI
& C SPA
7.6. SUMITOMO
RUBBER INDUSTRIES LTD
7.7. TOYO
TIRES
7.8. THE
YOKOHAMA RUBBER CO LTD
7.9. APOLLO
TYRES
7.10. MRF
7.11. CEAT
LIMITED
7.12. NEXEN
TIRE CORPORATION
7.13. HANKOOK
TIRE & TECHNOLOGY CO LTD
7.14. JK
TYRE
7.15. MAXXIS
8. RESEARCH
METHODOLOGY & SCOPE
8.1. RESEARCH
SCOPE & DELIVERABLES
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY REGIONAL OUTLOOK, 2022-2028 (IN $
BILLION)
TABLE 2: VENDOR SCORECARD
TABLE 3: LISTS THE MERGERS
& ACQUISITIONS
TABLE 4: LIST OF PRODUCT
LAUNCHES
TABLE 5: LIST OF PARTNERSHIPS
TABLE 6: LIST OF BUSINESS
EXPANSIONS & DIVESTITURES
TABLE 7: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2022-2028 (IN $ BILLION)
TABLE 8: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2022-2028 (IN $ BILLION)
TABLE 9: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $
BILLION)
TABLE 10: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY REGIONAL, 2022-2028 (IN $ BILLION)
TABLE 11: NORTH AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
BILLION)
TABLE 12: NORTH AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2022-2028 (IN $ BILLION)
TABLE 13: NORTH AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2022-2028 (IN $ BILLION)
TABLE 14: NORTH AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $
BILLION)
TABLE 15: EUROPE TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
BILLION)
TABLE 16: EUROPE TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2022-2028 (IN $ BILLION)
TABLE 17: EUROPE TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2022-2028 (IN $ BILLION)
TABLE 18: EUROPE TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $
BILLION)
TABLE 19: ASIA-PACIFIC TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
BILLION)
TABLE 20: ASIA-PACIFIC TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2022-2028 (IN $ BILLION)
TABLE 21: ASIA-PACIFIC TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2022-2028 (IN $ BILLION)
TABLE 22: ASIA-PACIFIC TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL 2022-2028 (IN $
BILLION)
TABLE 23: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2022-2028 (IN $
BILLION)
TABLE 24: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2022-2028 (IN $ BILLION)
TABLE 25: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2022-2028 (IN $ BILLION)
TABLE 26: LATIN AMERICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, 2022-2028 (IN $
BILLION)
TABLE 27: MIDDLE EAST AND
AFRICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY OUTLOOK, 2022-2028
(IN $ BILLION)
TABLE 28: MIDDLE EAST AND
AFRICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2022-2028 (IN $
BILLION)
TABLE 29: MIDDLE EAST AND
AFRICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2022-2028 (IN $
BILLION)
TABLE 30: MIDDLE EAST
AND AFRICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL,
2022-2028 (IN $ BILLION)
FIGURE 1: MARKET
ATTRACTIVENESS INDEX
FIGURE 2: GLOBAL TIRE AFTERMARKET,
TIRE REPLACEMENT MARKET, BY TIRE TYPE, 2021 & 2028 (IN %)
FIGURE 3: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RADIAL TIRE, 2022-2028 (IN $ BILLION)
FIGURE 4: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY BIAS TIRE, 2022-2028 (IN $ BILLION)
FIGURE 5: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, 2021 & 2028 (IN %)
FIGURE 6: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY 13- 15 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 7: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY 16 -18 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 8: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY 19 -21 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 9: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, MORE THAN 21 INCHES, 2022-2028 (IN $
BILLION)
FIGURE 10: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, 2021 & 2028
(IN %)
FIGURE 11: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY ORIGINAL EQUIPMENT SUPPLIER (OES),
2022-2028 (IN $ BILLION)
FIGURE 12: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY INDEPENDENT AFTERMARKET (IAM),
2022-2028 (IN $ BILLION)
FIGURE 13: GLOBAL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET, BY REGIONAL OUTLOOK, 2021 & 2028 (IN
%)
FIGURE 14: UNITED STATES TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 15: CANADA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 16: UNITED KINGDOM TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 17: GERMANY TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 18: FRANCE TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 19: SPAIN TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 20: ITALY TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 21: SLOVAKIA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 22: CZECH REPUBLIC TIRE
REPUBLIC TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 23: REST OF EUROPE TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 24: CHINA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 25: JAPAN TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 26: INDIA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 27: SOUTH KOREA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 28: ASEAN COUNTRIES
TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 29: AUSTRALIA & NEW
ZEALAND TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 30: REST OF
ASIA-PACIFIC TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 31: BRAZIL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 32: MEXICO TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 33: REST OF LATIN
AMERICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 34: UNITED ARAB
EMIRATES TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 35: SAUDI ARABIA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 36: TURKEY TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 37: SOUTH AFRICA TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 38: ISRAEL TIRE
AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)
FIGURE 39: REST OF MIDDLE EAST
& AFRICA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET 2022-2028 (IN $ BILLION)