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Electric Vehicle Tires Market Share

Report ID: GMI7639
Published Date: Dec 2023
Report Format: PDF

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Electric Vehicle Tires Market Share

Michelin group holds the largest market share, cutting-edge advancements such as the radial tire, which revolutionized the industry with its improved performance and fuel efficiency. The company's emphasis on research and development has enabled it to deliver products that meet the evolving needs of consumers and vehicle manufacturers. The brand's focus on sustainability and eco-friendly initiatives has also resonated well with environmentally conscious consumers.

Electric Vehicle Tires Market Companies

Major companies operating in the electric vehicle tires industry are:

Bridlestone Corporation
Continental AG
Goodyear Tire and Rubber Company
Hankook Tire & Technology Co Ltd
Michelin
Pirelli & C. SPA
Sumitomo Rubber Industries Ltd

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of electric vehicle tires reached USD 15.4 billion in 2023 and is set to witness 9% CAGR from 2024 to 2032, attributed to the growing popularity and adoption of electric vehicles.

The passenger cars segment accounted for a market share of around 45% in 2023, as more consumers embrace the shift to electric mobility for environmental reasons and reduced fuel costs.

Asia Pacific market share was around 30% in 2023, with a surge in electric vehicle adoption, particularly in countries like China and Japan.

Bridlestone Corporation, Continental AG, Goodyear Tire and Rubber Company, Hankook Tire & Technology Co Ltd., Michelin, Pirelli & C. SPA, and Sumitomo Rubber Industries Ltd.