The Global EV Tires Market is valued at approximately USD xxx billion in 2021 and is anticipated to grow with a healthy growth rate of more than 12.4 % over the forecast period 2022-2028. Electric Vehicles are battery-operated vehicles, that consist of an electric motor instead of a combustion engine. Electric Vehicle needs tires with stronger constructions and more robust rubber compounds to withstand high torque leading to higher tire wear Since Electric vehicles have been around for a long time, the innovation level in EV tires has accelerated over past years. Mounting concerns for environmental-friendly alternatives, accelerate the growth of the EV tires Market. For smoother and less-impact ride EV tires that have low rolling resistance is considered which fueled EV tires Market demand. Electric Vehicle opportunity has long been seen as a game-changer for the EV tires Market. Low rolling resistance can be a challenge though it can be achieved through a special mixture of tread cap compounds. The doorstep tire replacement services provided by key manufacturers provide a positive growth rate for the EV tires Market. Manufacturers are turning to more advancements in technology and innovation to face fierce competition. For instance: In May 2018, a Japanese tire company Falken collaborated with Toyota to develop 'Ecorun A-A'- an electric specific tire where 'A' is given for wet performance and the other 'A' for efficiency. However, high manufacturing costs as compared to conventional tire impedes the growth of the Market over the forecast period of 2022-2028.

The key regions considered for the Global EV Tires Market study include Asia Pacific, North America, Europe, Latin America and the Rest of the World. Since the sale of electric vehicles in North America is anticipated to grow rapidly the demand for electric tires is boosted over the forecast period. In addition, the U.S. has a large number of automotive aftermarket and OEM dealers and manufacturers owing to substantial demand for the electric tire Market. The European Market is expected to dominate the Global EV tires Market in terms of revenue over 2022-2028. Increasing trading business has upsurged the EV tires Market Globally and hence is propelled to grow swiftly over the forecast period.

Major Market players included in this report are:

Continental AG

Bridgestone

Pirelli & C. S.p.A

Goodyear Tire & Rubber Co.

Hankook Tire & Technology Co. Ltd.

Yokohama Rubber Co. Ltd.

Apollo Tyres

Michelin

Nokian Tyres

Cooper Tire & Rubber Company

The objective of the study is to define Market sizes of different segments & countries in recent years and to forecast the values for the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the Market. Additionally, the report shall also incorporate available opportunities in micro Markets for stakeholders to invest along with the detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the Market are explained below:

By Product Type:

Radial Tires

Bias Tires

Composite Tires

By Tire Size:

Up to 14''

15-18''

Above 18''

By Propulsion:

BEV

HEV

PHEV

By Vehicle Type:

Passenger Cars

Commercial Vehicles

By Sales Channel:

OEM

Aftermarket

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global EV Tires Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors