1. What is the projected Compound Annual Growth Rate (CAGR) of the Electric Vehicle Tires Market?
The projected CAGR is approximately 28.07%.
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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 17â€, 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
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.


Vehicle Type:
Propulsion Type:
Sales Channel:
Tire Size:
The report provides a comprehensive analysis of the electric vehicle tires market, including:
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 28.07% from 2019-2033 |
| Segmentation |
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Note*: In applicable scenarios
Primary Research
Secondary Research

Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 28.07%.
Key companies in the market include Michelin (France), Continental AG (Germany), Goodyear Tyres (U.S.), Sumitomo Rubber Industries (Japan), Nokian Tires (Finland), Toyo Tyres (Japan), PIRELLI TYRE S.P.A. (Italy), Bridgestone Corporation (Japan), Trelleborg AB (Sweden), Hankook Tire & Technology (South Korea).
The market segments include Vehicle Type, Propulsion Type, Sales Channel, Tire Size.
The market size is estimated to be USD 17.24 USD Billion as of 2022.
Increasing Demand for Forged Products in Power. Agriculture. Aerospace. and Defense to Drive Industry Expansion.
Rising Adoption of Automation in Manufacturing to Drive Market Growth.
Lower Lifespan and Higher Cost of EV Tires Could Restrict the Market Growth.
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The market size is provided in terms of value, measured in USD Billion and volume, measured in Units.
Yes, the market keyword associated with the report is "Electric Vehicle Tires Market," which aids in identifying and referencing the specific market segment covered.
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