Automotive Tire Accessories Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
Description
Market Overview:
The Automotive Tire Accessories Market is projected to grow from USD 43,425 million in 2024 to USD 69,736.94 million by 2032, reflecting a compound annual growth rate (CAGR) of 6.1%.
The market’s growth is driven by increasing vehicle ownership, rising demand for vehicle customization, and a growing focus on improving vehicle performance and safety. The expansion of e-commerce platforms and online retail channels is further boosting the accessibility of tire accessories to consumers. The growing emphasis on tire maintenance, including pressure monitoring systems, tire inflators, and specialized repair tools, is also contributing to increased demand. Technological advancements, such as the integration of smart technologies for real-time monitoring, are opening new growth opportunities. As consumers prioritize vehicle longevity and fuel efficiency, the demand for high-quality, durable, and innovative tire accessories continues to rise. Additionally, the increasing awareness of road safety and sustainability is driving the adoption of eco-friendly tire accessories, which is expected to positively impact market growth in the coming years.
Market Drivers:
Rising Demand for Vehicle Customization:
As automotive enthusiasts increasingly seek to personalize their vehicles, the demand for tire accessories that enhance performance, aesthetics, and functionality is growing. This trend is particularly evident among consumers who aim to optimize tire durability and efficiency for specific driving conditions. For instance, a survey by the National Highway Traffic Safety Administration (NHTSA) revealed that 60% of respondents in the U.S. were interested in custom tire covers and valve caps as part of their vehicle customization efforts. The growing preference for unique and personalized vehicles is driving consumer interest in a wide variety of automotive tire accessories.
Market Challenges Analysis:
Rising Raw Material Costs and Supply Chain Disruptions:
A significant challenge facing the Automotive Tire Accessories market is the volatility in raw material costs and ongoing supply chain disruptions. The prices of key materials used in tire accessory production, such as rubber, plastics, and metals, have been volatile due to global supply chain constraints and geopolitical factors. This has resulted in increased production costs for manufacturers, which can affect pricing and overall profitability. Additionally, the automotive industry is already grappling with semiconductor shortages and delays, which compounds the pressure from raw material price hikes. Supply chain disruptions further complicate the timely delivery of tire accessories, leading to inventory shortages and extended lead times for consumers. These factors create operational challenges for manufacturers and retailers and may hinder market growth.
Segmentation:
By Product Type:
Tire Inflators
Tire Pressure Monitoring Systems (TPMS)
Tire Repair Kits
Tire Covers
Tire Gauges
Tire Chains
Wheel Covers
Valve Caps
By Vehicle Type:
Passenger Vehicles
Commercial Vehicles
By Distribution Channel:
Original Equipment Manufacturer (OEM)
Aftermarket
By Geography:
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Key Player Analysis:
Viair Corporation
Michelin
Slime
Pirelli
Goodyear
Gorilla Automotive
Bridgestone
Stop & Go International
Continental
Black Jack Tire Repair
The Automotive Tire Accessories Market is projected to grow from USD 43,425 million in 2024 to USD 69,736.94 million by 2032, reflecting a compound annual growth rate (CAGR) of 6.1%.
The market’s growth is driven by increasing vehicle ownership, rising demand for vehicle customization, and a growing focus on improving vehicle performance and safety. The expansion of e-commerce platforms and online retail channels is further boosting the accessibility of tire accessories to consumers. The growing emphasis on tire maintenance, including pressure monitoring systems, tire inflators, and specialized repair tools, is also contributing to increased demand. Technological advancements, such as the integration of smart technologies for real-time monitoring, are opening new growth opportunities. As consumers prioritize vehicle longevity and fuel efficiency, the demand for high-quality, durable, and innovative tire accessories continues to rise. Additionally, the increasing awareness of road safety and sustainability is driving the adoption of eco-friendly tire accessories, which is expected to positively impact market growth in the coming years.
Market Drivers:
Rising Demand for Vehicle Customization:
As automotive enthusiasts increasingly seek to personalize their vehicles, the demand for tire accessories that enhance performance, aesthetics, and functionality is growing. This trend is particularly evident among consumers who aim to optimize tire durability and efficiency for specific driving conditions. For instance, a survey by the National Highway Traffic Safety Administration (NHTSA) revealed that 60% of respondents in the U.S. were interested in custom tire covers and valve caps as part of their vehicle customization efforts. The growing preference for unique and personalized vehicles is driving consumer interest in a wide variety of automotive tire accessories.
Market Challenges Analysis:
Rising Raw Material Costs and Supply Chain Disruptions:
A significant challenge facing the Automotive Tire Accessories market is the volatility in raw material costs and ongoing supply chain disruptions. The prices of key materials used in tire accessory production, such as rubber, plastics, and metals, have been volatile due to global supply chain constraints and geopolitical factors. This has resulted in increased production costs for manufacturers, which can affect pricing and overall profitability. Additionally, the automotive industry is already grappling with semiconductor shortages and delays, which compounds the pressure from raw material price hikes. Supply chain disruptions further complicate the timely delivery of tire accessories, leading to inventory shortages and extended lead times for consumers. These factors create operational challenges for manufacturers and retailers and may hinder market growth.
Segmentation:
By Product Type:
Tire Inflators
Tire Pressure Monitoring Systems (TPMS)
Tire Repair Kits
Tire Covers
Tire Gauges
Tire Chains
Wheel Covers
Valve Caps
By Vehicle Type:
Passenger Vehicles
Commercial Vehicles
By Distribution Channel:
Original Equipment Manufacturer (OEM)
Aftermarket
By Geography:
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of the Middle East and Africa
Key Player Analysis:
Viair Corporation
Michelin
Slime
Pirelli
Goodyear
Gorilla Automotive
Bridgestone
Stop & Go International
Continental
Black Jack Tire Repair
Table of Contents
187 Pages
- CHAPTER NO. 1: INTRODUCTION
- 1.1.1. Report Description
- Purpose of the Report
- USP & Key Offerings
- 1.1.2. Key Benefits for Stakeholders
- 1.1.3. Target Audience
- 1.1.4. Report Scope
- CHAPTER NO. 2: EXECUTIVE SUMMARY
- 2.1. [Automotive Tire Accessories Market] Snapshot
- 2.1.1. [Automotive Tire Accessories Market], 2018 - 2032 (USD Million)
- CHAPTER NO. 3: [Automotive Tire Accessories Market] – INDUSTRY ANALYSIS
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restraints
- 3.4. Market Opportunities
- 3.5. Porter’s Five Forces Analysis
- CHAPTER NO. 4: ANALYSIS COMPETITIVE LANDSCAPE
- 4.1. Company Market Share Analysis – 2023
- 4.2. [Automotive Tire Accessories Market] Company Revenue Market Share, 2023
- 4.3. Company Assessment Metrics, 2023
- 4.4. Start-ups / SMEs Assessment Metrics, 2023
- 4.5. Strategic Developments
- 4.6. Key Players Product Matrix
- CHAPTER NO. 5: PESTEL & ADJACENT MARKET ANALYSIS
- CHAPTER NO. 6: [Automotive Tire Accessories Market] – BY [Based on Product Type] ANALYSIS
- CHAPTER NO. 7: [Automotive Tire Accessories Market] – BY [Based on Vehicle Type] ANALYSIS
- CHAPTER NO. 8: [Automotive Tire Accessories Market] – BY [Based on Distribution Channel] ANALYSIS
- CHAPTER NO. 9: [Automotive Tire Accessories Market] – BY [Based on the Geography] ANALYSIS
- CHAPTER NO. 10: COMPANY PROFILES
- 9.1. Viair Corporation
- 9.1.1. Company Overview
- 9.1.2. Product Portfolio
- 9.1.3. SWOT Analysis
- 9.1.4. Business Strategy
- 9.1.5. Financial Overview
- 9.2. Michelin
- 9.3. Slime
- 9.4. Pirelli
- 9.5. Goodyear
- 9.6. Gorilla Automotive
- 9.7. Bridgestone
- 9.8. Stop & Go International
- 9.9. Continental
- 9.10. Black Jack Tire Repair
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