Transport & Logistics

EV Tires Market Growth Trends 2024: Future Projections and Key Factors

Overview and Scope
Electric vehicle (EV) tires typically refer to automotive tires designed specifically for electric vehicles (EVs). These tires are engineered to meet the unique requirements and characteristics of electric-powered cars. It enhances the overall efficiency, safety, and driving experience of electric vehicles.

Sizing and Forecast
The EV tires market size has grown rapidly in recent years. It will grow from $17.02 billion in 2023 to $18.78 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%.  The growth in the historic period can be attributed to rise in electric vehicle adoption, government incentives and regulations, environmental concerns and sustainability, improved energy efficiency.

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/ev-tires-global-market-report

Segmentation & Regional Insights
The EV tires market covered in this report is segmented –

1) By Product Type: Radial Tires, Bias Tires, Composite Tires, Other Products
2) By Vehicle Type: Passenger Cars, Two Wheelers and Three Wheelers, Commercial Vehicles
3) By Distribution Channel: Original Equipment, Aftermarket

Asia-Pacific was the largest region in the EV Tires market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the EV tires market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=14102&type=smp

Major Driver Impacting Market Growth
The increasing demand for electric vehicles is expected to propel the growth of the EV tires market going forward. Electric vehicles (EVs) are automobiles that are powered primarily or entirely by electricity stored in rechargeable batteries. Electric vehicle (EV) tires are used in electric vehicles to enhance the efficiency, performance, and safety of electric vehicles, contributing to the overall success and widespread adoption of electric transportation. For instance, in January 2022, according to the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, sales of electric vehicles nearly doubled to 6.6 million in 2021 from 3 million in 2020, representing almost 9% of total sales, and increased by 4 percentage points in 2021 as well, bringing the total number of electric vehicles on the road to 16.5 million. Therefore, the increasing demand for electric vehicles is driving the growth of the EV tires market.

Key Industry Players
Major companies operating in the EV tires market are MRF Limited, JK Tyre & Industries, Cheng Shin Rubber Industrial Co. Ltd., Caterpillar Inc. , Continental AG, Bridgestone Corporation, Michelin Group, Sailun Group, Goodyear tyre and rubber company, Nokian Tyre, Hankook Tire & Technology Co. Ltd., Yokohama rubber Co. Ltd, Kumho Tire Co. Inc. , Apollo tyre, Giti Tire, Cooper Tyre and Rubber Company, Titan International Inc., Pirelli & C. SpA, Maxxis International, Falken tyre, Sumitomo Rubber Industries, Trelleborg Wheel Systems, CEAT Limited, Federal Corporation, Nexen Tire

The ev tires market report table of contents includes:

1. Executive Summary
2. EV Tires Market Characteristics
3. EV Tires Market Trends And Strategies
4. EV Tires Market – Macro Economic Scenario
5. Global EV Tires Market Size and Growth.
.
.
.
32. Global EV Tires Market Competitive Benchmarking
33. Global EV Tires Market Competitive Dashboard
34. Key Mergers And Acquisitions In The EV Tires Market
35. EV Tires Market Future Outlook and Potential Analysis
36. Appendix

Explore the trending research reports from TBRC:
https://www.thebusinessresearchcompany.com/report/flexion-tires-global-market-report
https://www.thebusinessresearchcompany.com/report/organic-electronics-global-market-report
https://www.thebusinessresearchcompany.com/report/consumer-electronics-ecommerce-global-market-report

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Good PR News

Recent Posts

Automotive Data Logger Market 2024: Emerging Technologies and Growth Forecast

The automotive data logger global market report 2024 from The Business Research Company provides comprehensive…

6 hours ago

Workflow Automation And Optimization Software Market Trends and Forecast Report 2024-2033 | By Types, Applications, Regions And Players

The workflow automation and optimization software global market report 2024 from The Business Research Company…

6 hours ago

Temperature Monitoring Systems Market 2024 : Industry Analysis, Trends, Segmentation, Regional Overview And Forecast 2033

The temperature monitoring systems global market report 2024 from The Business Research Company provides comprehensive…

6 hours ago

Airport QSR Market 2024: Innovations, Strategies, and Future Opportunities

The airport quick service restaurant global market report 2024 from The Business Research Company provides…

6 hours ago

Simulation Learning Market : By Industry Trends, Leading Players, Size, Share, Growth, Opportunity And Forecast 2024-2033

The simulation learning global market report 2024 from The Business Research Company provides comprehensive market…

6 hours ago

Professional Mobile Radio (PMR)  Market By Product Type, By Manufacturers, By End-User And Market Trend Analysis Forecast 2033

The professional mobile radio (pmr) global market report 2024 from The Business Research Company provides…

6 hours ago