MarkNtel Advisors recently published a detailed industry analysis of the Electric Vehicle Tire Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Insights and Analysis of the Electric Vehicle Tire Market (2024-2030)

The Global Electric Vehicle Tire Market size was valued at USD 3.1 Billion in 2023 and is projected to reach USD 13.4 Billion by 2030.

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What is driving the Electric Vehicle Tire Market?

Rising Production of EVs Worldwide Uplifting the Requirement for Electric Vehicle Tires– In recent years, Greenhouse emissions have increased at an alarming rate due to the consistent increase in transportation activities & rapid industrialization. As per the International Energy Agency, in 2022, more global emissions reached approximately 8 Gt, an increase of about 250 Mt or about 3% compared to the previous year. These emissions contribute to global warming and air pollution, leading to adverse health effects and environmental degradation. Therefore, the official authorities across the globe are encouraging the adoption of sustainable transportation modes, including EVs. This, in turn, is resulting in the increased sales of EVs across the Globe, facilitating the requirement for EV-specific tires. Also, to cater to this growing demand for EVs, top companies are expanding their production units. For instance, in 2024, BYD announced to set up an EV manufacturing facility in Turkey. Similarly, other players are also ramping up the production of EVs, which would generate the demand for EV-specific tires directly from the original equipment manufacturers and contribute to enlarging the market size during the forthcoming years.

What segments define the Electric Vehicle Tire Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

By Type of Tire

(Radial, Bias),

By Vehicle Types

(Passenger Car, Two-Wheeler & Three-Wheeler, Commercial Vehicle, others),

By Price Category

(Budget, Premium, Economy),

By Demand Type

(OEM, Replacement),

By Sales Channel

(Direct Sales, Online, Dealers/ Exclusive Outlets),

By Rim Diameter

(Up to 12”, 12.1” to 15”, 15.1.” to 18”, 18.1” to 20”, 20.1” to 22.5”, 22.6” to 26”, 26.1” to 35”, 35.1” to 47”, Above 47”)

By Regions

North America, South America, Europe, Middle East & Africa, Asia-Pacific

Explore the Complete Electric Vehicle Tire Market Analysis Report – https://www.marknteladvisors.com/research-library/global-electric-vehicle-tire-market.html

Who are the leading key players shaping the Electric Vehicle Tire Market landscape?

Continental AG, Bridgestone Corporation, Yokohama Rubber Company Ltd., Hankook Tire & Technology Group, The Goodyear Tire & Rubber Company, Michelin Group, Kumho Tire Company Inc., Pirelli & C. S.p.A, Toyo Tire Corporation, GITI Tire etc.

Questions Addressed in this Study

1.What factors are driving the Electric Vehicle Tire Market growth?

2.How is the Electric Vehicle Tire Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Electric Vehicle Tire Market?

4.What is the current size of the Electric Vehicle Tire Market, and how is it projected to change in the future?

6.What is the future outlook for the Electric Vehicle Tire Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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