Specialty Tire Market Report: Market Size Around $725 Billion Growing Trends and Increasing Growth

According to YH Research's Specialty Tire Market report, this report provides Specialty Tire market scenario, definitions, classifications, applications and industry chain structure, also discusses development policies and plans as well as manufacturing processes and cost structures, analyses Specialty Tire market development status and future market trends. It also analyses the Specialty Tyres market from the perspective of both production and consumption, to identify the top producing regions, the top consuming regions, and the top manufacturers.

Specialty tyres, also known as off-highway tyres, are distinguished from high-speed road-type tyres such as car tyres, heavy-duty vehicle tyres, light-duty vehicle tyres, etc., and are tyres mainly used for off-highway pavement driving, and these tyres are usually required to have such characteristics as high strength, abrasion-resistance, corrosion-resistance, and resistance to high or low temperatures to adapt to different environments and working conditions.

Looking ahead, the special tyre industry will continue to develop steadily. The emergence of new technologies, materials, and processes will propel the industry to continue to progress. In addition, with the popularity of technologies such as electric vehicles, artificial intelligence, the Internet of Things, and 5G networks, the special tyre industry will move towards intelligence and environmental protection to meet future market demand and sustainable development trends. This will bring more opportunities and challenges to the industry, requiring companies to innovate and adapt to changes to remain competitive.

The size of China's special tyre industry reached 703.494 billion yuan in 2023, down 5.47% year-on-year. In the future, with the continuous improvement of the performance of special tyres and the expansion of application areas, the market size of special tyres will show a high growth trend; it is expected that the market size of special tyres will reach 844.784 billion yuan in 2028, and the compound annual growth rate (CAGR) of the market size is expected to reach 3.7% from 2024 to 2028.

According to YH Research, the global specialty tyre market size was about $110.2 billion in 2023, with a CAGR of about % from 2019-2023, and is expected to continue to maintain a steady growth trend in the future, with a market size of nearly $107.2 billion by 2030, and a CAGR of -0.4% over the next six years.

Asia Pacific is the largest specialty tyre market with about 40% market share, followed by Europe with about 25% market share.

The major manufacturers are Michelin, Bridgestone, Goodyear, Titan, Pirelli, Continental, BKT, ATG, Yokohama, Trelleborg, Mitas, Chemchina, Triangle, Guizhou Tire Xingyuan, Giti, Xugong, Linglong, Zhongce, Sumitomo, Cheng Shin, MRF, Kumho, Apollo, Nokian and so on. The top three vendors account for about 37% of the market share.