Asia Pacific EV Tire Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2025-2034
Description
Asia Pacific EV Tire Market was valued at USD 5.2 billion in 2024 and is estimated to grow at a CAGR of 18.4% to reach USD 28.7 billion by 2034.
Market growth is driven by the rapid adoption of electric vehicles across passenger and commercial segments, rising government incentives for EV deployment, and continuous advancements in tire materials and design optimized for electric mobility. EV-specific tires are engineered to handle higher torque, increased vehicle weight due to battery packs, and stringent efficiency requirements, making them a critical component in EV performance optimization. Growing consumer demand for extended driving range, lower rolling resistance, and reduced noise levels is accelerating the development and adoption of advanced EV tires. Additionally, stricter emission regulations and aggressive electrification targets across Asia Pacific economies are reinforcing the shift toward EV-compatible tire solutions, supporting sustained market growth.
Based on vehicle type, the passenger electric vehicle segment generated USD 3.1 billion in 2024, supported by surging sales of electric passenger cars across China, Japan, South Korea, and India. Rising urbanization, expanding charging infrastructure, and favorable government subsidies are significantly boosting EV passenger vehicle adoption, directly increasing demand for specialized tires. EV passenger tires are designed to deliver enhanced durability, superior grip, and low rolling resistance to maximize battery efficiency and driving range. Automakers increasingly collaborate with tire manufacturers to develop vehicle-specific tire solutions, further strengthening the dominance of this segment in the regional market.
The on-road segment reached USD 3.7 billion in 2024 driven by the rapidly expanding adoption of electric passenger cars, electric buses, and light commercial vehicles used primarily for daily commuting and logistics operations. On-road EV tires are engineered to deliver low rolling resistance, high durability, and enhanced load-bearing capacity to support the heavier battery weight and instant torque characteristics of electric vehicles. Growing urbanization, improving road infrastructure, and rising preference for personal electric mobility across major Asia Pacific economies are significantly boosting demand for on-road EV tires.
China EV Tire Market garnered USD 3.5 billion in 2024, driven by its massive EV production base, strong domestic demand, and extensive government support for electric mobility. The country’s well-established EV ecosystem, coupled with rapid expansion of domestic EV manufacturers, significantly boosts demand for high-performance EV tires. Additionally, China’s strong local tire manufacturing capabilities enable large-scale production and cost optimization, reinforcing its leadership position within the Asia Pacific region.
Key players operating in the Asia Pacific EV Tire Market include Bridgestone Corporation, Michelin, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, Hankook Tire & Technology, Yokohama Rubber Company, Pirelli & C. S.p.A., Toyo Tire Corporation, and CEAT Ltd. Companies in the Asia Pacific EV Tire Market are strengthening their market position through intensive R&D investments focused on low rolling resistance, lightweight construction, and noise-reduction technologies tailored for electric vehicles. Leading players are developing EV-specific tire portfolios in collaboration with automakers to secure long-term OEM supply contracts. Strategic capacity expansions and localized manufacturing across China, India, and Southeast Asia help reduce costs and improve supply chain resilience. Manufacturers are also emphasizing sustainable materials, recyclable compounds, and eco-friendly production processes to align with regional sustainability goals.
Market growth is driven by the rapid adoption of electric vehicles across passenger and commercial segments, rising government incentives for EV deployment, and continuous advancements in tire materials and design optimized for electric mobility. EV-specific tires are engineered to handle higher torque, increased vehicle weight due to battery packs, and stringent efficiency requirements, making them a critical component in EV performance optimization. Growing consumer demand for extended driving range, lower rolling resistance, and reduced noise levels is accelerating the development and adoption of advanced EV tires. Additionally, stricter emission regulations and aggressive electrification targets across Asia Pacific economies are reinforcing the shift toward EV-compatible tire solutions, supporting sustained market growth.
Based on vehicle type, the passenger electric vehicle segment generated USD 3.1 billion in 2024, supported by surging sales of electric passenger cars across China, Japan, South Korea, and India. Rising urbanization, expanding charging infrastructure, and favorable government subsidies are significantly boosting EV passenger vehicle adoption, directly increasing demand for specialized tires. EV passenger tires are designed to deliver enhanced durability, superior grip, and low rolling resistance to maximize battery efficiency and driving range. Automakers increasingly collaborate with tire manufacturers to develop vehicle-specific tire solutions, further strengthening the dominance of this segment in the regional market.
The on-road segment reached USD 3.7 billion in 2024 driven by the rapidly expanding adoption of electric passenger cars, electric buses, and light commercial vehicles used primarily for daily commuting and logistics operations. On-road EV tires are engineered to deliver low rolling resistance, high durability, and enhanced load-bearing capacity to support the heavier battery weight and instant torque characteristics of electric vehicles. Growing urbanization, improving road infrastructure, and rising preference for personal electric mobility across major Asia Pacific economies are significantly boosting demand for on-road EV tires.
China EV Tire Market garnered USD 3.5 billion in 2024, driven by its massive EV production base, strong domestic demand, and extensive government support for electric mobility. The country’s well-established EV ecosystem, coupled with rapid expansion of domestic EV manufacturers, significantly boosts demand for high-performance EV tires. Additionally, China’s strong local tire manufacturing capabilities enable large-scale production and cost optimization, reinforcing its leadership position within the Asia Pacific region.
Key players operating in the Asia Pacific EV Tire Market include Bridgestone Corporation, Michelin, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Rubber Industries, Hankook Tire & Technology, Yokohama Rubber Company, Pirelli & C. S.p.A., Toyo Tire Corporation, and CEAT Ltd. Companies in the Asia Pacific EV Tire Market are strengthening their market position through intensive R&D investments focused on low rolling resistance, lightweight construction, and noise-reduction technologies tailored for electric vehicles. Leading players are developing EV-specific tire portfolios in collaboration with automakers to secure long-term OEM supply contracts. Strategic capacity expansions and localized manufacturing across China, India, and Southeast Asia help reduce costs and improve supply chain resilience. Manufacturers are also emphasizing sustainable materials, recyclable compounds, and eco-friendly production processes to align with regional sustainability goals.
Table of Contents
495 Pages
- Chapter 1 Research Methodology
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research and validation
- 1.5 Some of the primary sources
- 1.6 Data mining sources
- 1.6.1 Secondary
- 1.6.1.1 Paid sources
- 1.6.1.2 Sources, by Country
- 1.7 Market definitions
- Chapter 2 Executive Summary
- 2.2 Key market trends
- 2.2.1 Region
- 2.2.2 Vehicle
- 2.2.3 Rim Size
- 2.2.4 Propulsion
- 2.2.5 Load Index
- 2.2.6 Application
- 2.2.7 Sales Channel
- 2.2.8 Tire
- 2.3 TAM Analysis, 2025-2034
- 2.4 CXO Perspectives: Strategic Imperatives
- 2.4.1 Executive Decision Points
- 2.4.2 Critical Success Factors
- 2.5 Future Outlook and Strategic Recommendations
- 2.6 Future Outlook and Strategic Recommendations
- Chapter 3 Industry Insights Industry Insights
- 3.1.1 Supplier landscape
- 3.1.2 Profit Margin Analysis
- 3.1.3 Cost Structure
- 3.1.4 Value Addition at Each Stage
- 3.1.5 Factors Affecting the Value Chain
- 3.1.6 Disruptions
- 3.1.6.1 Technology-Driven Disruptions
- 3.1.6.2 Market Structure Disruptions
- 3.2 Industry Impact Forces
- 3.2.1 Growth drivers
- 3.2.1.1 Growing Demand for EV-Specific Tire Features
- 3.2.1.2 Rising EV Sales and Production Capacity
- 3.2.1.3 Growth in Electric Commercial Fleet
- 3.2.1.4 Rapid Electrification of Two and Three Wheelers
- 3.2.2 Industry Pitfalls and Challenges
- 3.2.2.1 Limited Aftermarket Availability
- 3.2.2.2 High Cost of EV Tires
- 3.2.3 Market Opportunities
- 3.2.3.1 Development of Advanced EV-Specific Tire Technology
- 3.2.3.2 Sustainable and Circular Economy Tire Solutions
- 3.3 Growth Potential Analysis
- 3.4 Regulatory Landscape Analysis
- 3.4.1 China
- 3.4.1.1 Regulatory Authorities:
- 3.4.2 India
- 3.4.3 Japan
- 3.4.4 Australia
- 3.4.5 South Korea
- 3.4.6 Southeast Asia
- 3.4.7 Rest of Asia Pacific
- 3.5 Porter's analysis
- 3.6 PESTEL analysis
- 3.7 Technology & Innovation Landscape
- 3.7.1 Current Technological Trends
- 3.7.2 Emerging Technologies
- 3.7.3 Technology Licensing & IP Monetization Strategies
- 3.8 Price Trend Analysis
- 3.8.1 Price Trends by Region
- 3.8.2 Price Trends by Product
- 3.9 Production Statistics
- 3.9.1 Production Hubs
- 3.9.2 Export and Import Flows
- 3.10 Production Statistics
- 3.10.1 Production Hubs
- 3.10.2 Consumption Hubs
- 3.10.3 Export and Import Dynamics
- 3.11 Cost Breakdown Analysis
- 3.11.1 Raw Material Cost Components
- 3.11.2 Manufacturing and Machinery Costs
- 3.11.3 Logistics and Distribution Costs
- 3.11.4 Labor and Assembly Costs
- 3.11.5 R&D and Testing Costs
- 3.12 Patent Analysis
- 3.12.1 Innovation Hotspots & IP Concentration
- 3.12.2 Patent Cliff & Expiry Risks
- 3.12.3 R&D Investment and Patent Filing Trends
- 3.12.4 Technology Licensing and IP Monetization
- 3.13 Sustainability and Environmental Aspects
- 3.13.1 Sustainable Practices
- 3.13.2 Waste Reduction Strategies
- 3.13.3 Energy Efficiency in Production
- 3.13.4 Eco-Friendly Initiatives
- 3.13.5 Carbon Footprint Considerations
- 3.14 Investment Risk Assessment
- 3.14.1 Technology Obsolescence Risk
- 3.14.2 Regulatory Compliance Cost Impact
- 3.14.3 Supply Chain Disruption Scenarios
- 3.14.4 Currency & Commodity Price Volatility
- 3.15 Market Timing & Investment Windows
- 3.15.1 Technology Adoption Curve Analysis
- 3.15.2 Optimal Investment Entry Points
- 3.16 ESG Investment Criteria Integration
- 3.16.1 Sustainable Material Adoption Impact
- 3.16.2 Carbon Footprint Reduction Metrics
- 3.16.3 Circular Economy Investment Returns
- 3.17 Future Market Trends
- 3.17.1 Mainstreaming of EV Tire Demand
- 3.17.2 Technology Standardization and Premiumization
- 3.17.3 Regulatory-Driven Sustainability
- 3.17.4 Digitalization and Smart Tire Ecosystems
- 3.17.5 Circular Economy and Material Innovation
- 3.17.6 Regionalization and Supply Chain Resilience
- 3.17.7 Integration with Mobility Ecosystems
- 3.18 Major Market Trends and Disruptions
- Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.2.1 China
- 4.2.2 India
- 4.2.3 Japan
- 4.2.4 South Korea
- 4.2.5 Australia
- 4.2.6 Southeast Asia
- 4.3 Competitive analysis of major market players
- 4.4 Competitive positioning matrix
- 4.5 Strategic outlook matrix
- 4.6 Key developments
- 4.6.1 Mergers & Acquisitions
- 4.6.2 Partnerships & Collaborations
- 4.6.3 New Product Launches
- 4.6.4 Expansion Plans and Funding
- 4.7 Strategic Outlook Matrix
- Chapter 5 Asia Pacific EV Tire Market, By Vehicle
- 5.1 Key trends
- 5.2 Passenger Car
- 5.2.1 Sedan
- 5.2.2 Hatchback
- 5.2.3 SUVs & Crossovers
- 5.3 Commercial Vehicle
- 5.3.1 Light Commercial Vehicles (LCV)
- 5.3.2 Medium Commercial Vehicles (MCV)
- 5.3.3 Heavy Commercial Vehicles (HCV)
- 5.3.4 Two and Three-Wheeler
- 5.3.5 Specialty Electric Vehicle
- Chapter 6 Asia Pacific EV Tire Market, By Rim Size
- 6.1 Key trends
- 6.2 13-15 Inch Segment
- 6.3 16-18 Inch Segment
- 6.4 19-21 Inch Segment
- 6.5 Above 21 Inch Segment
- Chapter 7 Asia Pacific EV Tire Market, By Propulsion
- 7.1 Key trends
- 7.2 Battery Electric Vehicles (BEV)
- 7.3 Plug-in Hybrid Electric Vehicles (PHEV)
- 7.4 Hydrogen Fuel Cell Electric Vehicles (FCEVs)
- 7.5 Extended Range Electric Vehicles (EREVs)
- Chapter 8 Asia Pacific EV Tire Market, By Load Index
- 8.1 Key trends
- 8.2 Load Index 70-100
- 8.3 Load Index 101-120
- 8.4 Load Index 121-140
- 8.5 Load Index Above 140
- Chapter 9 Asia Pacific EV Tire Market, By Application
- 9.1 Key trends
- 9.2 On-Road Application
- 9.3 Off-Road Application
- Chapter 10 Asia Pacific EV Tire Market, By Sales Channel
- 10.1 Key trends
- 10.2 OEM Sales Channel
- 10.3 Aftermarket Sales Channel
- Chapter 11 Asia Pacific EV Tire Market, By Tire Type
- 11.1 Key trends
- 11.2 Summer EV Tire
- 11.3 Winter EV Tire
- 11.4 All-Season EV Tire
- Chapter 12 Asia Pacific EV Tire Market, By Region
- 12.1 Key trends
- 12.2 China
- 12.3 India
- 12.4 Japan
- 12.5 Australia
- 12.6 South Korea
- 12.7 Southeast Asia
- 12.7.1 Brunei
- 12.7.2 Cambodia
- 12.7.3 East Timor
- 12.7.4 Indonesia
- 12.7.5 Laos
- 12.7.6 Malaysia
- 12.7.7 Myanmar
- 12.7.8 Philippines
- 12.7.9 Singapore
- 12.7.10 Thailand
- 12.7.11 Vietnam
- 12.7.12 Rest of Asia Pacific
- Chapter 13 Company Profiles Industry Insights
- 13.1 Global players
- 13.1.1 Apollo Tyres
- 13.1.1.1 Market/Business Overview
- 13.1.1.2 Operating segment overview
- 13.1.1.3 Financial data
- 13.1.1.4 Product landscape
- 13.1.1.5 Strategic outlook
- 13.1.1.6 SWOT Analysis
- 13.1.2 Bridgestone Corporation
- 13.1.2.1 Market/Business Overview
- 13.1.2.2 Operating segment overview
- 13.1.2.3 Financial data
- 13.1.2.4 Product landscape
- 13.1.2.5 Strategic outlook
- 13.1.2.6 SWOT Analysis
- 13.1.3 CEAT Limited
- 13.1.3.1 Market/Business Overview
- 13.1.3.2.1 Operating segment overview
- 13.1.3.3 Financial data
- 13.1.3.4 Product landscape
- 13.1.3.5 Strategic outlook
- 13.1.3.6 SWOT Analysis
- 13.1.4 Giti Tire
- 13.1.4.1 Market/Business Overview
- 13.1.4.2 Operating segment overview
- 13.1.4.3 Financial data
- 13.1.4.4 Product landscape
- 13.1.4.5 Strategic outlook
- 13.1.4.6 SWOT Analysis
- 13.1.5 Hankook Tire & Technology
- 13.1.5.1 Market/Business Overview
- 13.1.5.2 Operating segment overview
- 13.1.5.3 Financial data
- 13.1.5.4 Product landscape
- 13.1.5.5 Strategic outlook
- 13.1.5.6 SWOT Analysis
- 13.1.6 Kumho Tire
- 13.1.6.1 Market/Business Overview
- 13.1.6.2 Operating segment overview
- 13.1.6.3 Financial data
- 13.1.6.4 Product landscape
- 13.1.6.5 Strategic outlook
- 13.1.6.6 SWOT Analysis
- 13.1.7 MRF Limited
- 13.1.7.1 Market/Business Overview
- 13.1.7.2 Operating segment overview
- 13.1.7.3 Financial data
- 13.1.7.4 Product landscape
- 13.1.7.5 Strategic outlook
- 13.1.7.6 SWOT Analysis
- 13.1.8 Sumitomo Rubber Industries
- 13.1.8.1 Market/Business Overview
- 13.1.8.2 Operating segment overview
- 13.1.8.3 Financial data
- 13.1.8.4 Product landscape
- 13.1.8.5 Strategic outlook
- 13.1.8.6 SWOT Analysis
- 13.1.9 TOYO Tire Corporation
- 13.1.9.1 Market/Business Overview
- 13.1.9.2 Operating segment overview
- 13.1.9.3 Financial data
- 13.1.9.4 Product landscape
- 13.1.9.5 Strategic outlook
- 13.1.9.6 SWOT Analysis
- 13.1.10 Yokohama Rubber
- 13.1.10.1 Market/Business Overview
- 13.1.10.2 Operating segment overview
- 13.1.10.3 Financial data
- 13.1.10.4 Product landscape
- 13.1.10.5 Strategic outlook
- 13.1.10.6 SWOT Analysis
- 13.1.11 Zhongce Rubber Group
- 13.1.11.1 Market/Business Overview
- 13.1.11.2 Operating segment overview
- 13.1.11.3 Financial data
- 13.1.11.4 Product landscape
- 13.1.11.5 Strategic outlook
- 13.1.11.6 SWOT Analysis
- 13.2 Regional companies
- 13.2.1 BKT Tires
- 13.2.1.1 Market/Business Overview
- 13.2.1.2 Operating segment overview
- 13.2.1.3 Financial data
- 13.2.1.4 Product landscape
- 13.2.1.5 Strategic outlook
- 13.2.1.6 SWOT Analysis
- 13.2.2 JK Tyre
- 13.2.2.1 Market/Business Overview
- 13.2.2.2 Operating segment overview
- 13.2.2.3 Financial data
- 13.2.2.4 Product landscape
- 13.2.2.5 Strategic outlook
- 13.2.2.6 SWOT Analysis
- 13.2.3 Maxxis/Cheng Shin Rubber
- 13.2.3.1 Market/Business Overview
- 13.2.3.2 Operating segment overview
- 13.2.3.3 Financial data
- 13.2.3.4 Product landscape
- 13.2.3.5 Strategic outlook
- 13.2.3.6 SWOT Analysis
- 13.2.4 Nankang Rubber
- 13.2.4.1 Market/Business Overview
- 13.2.4.2 Operating segment overview
- 13.2.4.3 Financial data
- 13.2.4.4 Product landscape
- 13.2.4.5 Strategic outlook
- 13.2.4.6 SWOT Analysis
- 13.2.5 Nexen Tire
- 13.2.5.1 Market/Business Overview
- 13.2.5.2 Operating segment overview
- 13.2.5.3 Financial data
- 13.2.5.4 Product landscape
- 13.2.5.5 Strategic outlook
- 13.2.5.6 SWOT Analysis
- 13.2.6 Sailun Jinyu Group
- 13.2.6.1 Market/Business Overview
- 13.2.6.2 Operating segment overview
- 13.2.6.3 Financial data
- 13.2.6.4 Product landscape
- 13.2.6.5 Strategic outlook
- 13.2.6.6 SWOT Analysis
- 13.2.7 Shandong Hengfeng/Changfeng
- 13.2.7.1 Market/Business Overview
- 13.2.7.2 Operating segment overview
- 13.2.7.3 Financial data
- 13.2.7.4 Product landscape
- 13.2.7.5 Strategic outlook
- 13.2.7.6 SWOT Analysis
- 13.2.8 Shandong Linglong
- 13.2.8.1 Market/Business Overview
- 13.2.8.2 Operating segment overview
- 13.2.8.3 Financial data
- 13.2.8.4 Product landscape
- 13.2.8.5 Strategic outlook
- 13.2.8.6 SWOT Analysis
- 13.2.9 Triangle Group
- 13.2.9.1 Market/Business Overview
- 13.2.9.2 Operating segment overview
- 13.2.9.3 Financial data
- 13.2.9.4 Product landscape
- 13.2.9.5 Strategic outlook
- 13.2.9.6 SWOT Analysis
- 13.3 Emerging players
- 13.3.1 Birla Tyres
- 13.3.1.1 Market/Business Overview
- 13.3.1.2 Operating segment overview
- 13.3.1.3 Financial data
- 13.3.1.4 Product landscape
- 13.3.1.5 Strategic outlook
- 13.3.1.6 SWOT Analysis
- 13.3.2 Casumina
- 13.3.2.1 Market/Business Overview
- 13.3.2.2 Operating segment overview
- 13.3.2.3 Financial data
- 13.3.2.4 Product landscape
- 13.3.2.5 Strategic outlook
- 13.3.2.6 SWOT Analysis
- 13.3.3 Deestone
- 13.3.3.1 Market/Business Overview
- 13.3.3.2 Operating segment overview
- 13.3.3.3 Financial data
- 13.3.3.4 Product landscape
- 13.3.3.5 Strategic outlook
- 13.3.3.6 SWOT Analysis
- 13.3.4 Gajah Tunggal
- 13.3.4.1 Market/Business Overview
- 13.3.4.2 Operating segment overview
- 13.3.4.3 Financial data
- 13.3.4.4 Product landscape
- 13.3.4.5 Strategic outlook
- 13.3.4.6 SWOT Analysis
- 13.3.5 Omni United
- 13.3.5.1 Market/Business Overview
- 13.3.5.2 Operating segment overview
- 13.3.5.3 Financial data
- 13.3.5.4 Product landscape
- 13.3.5.5 Strategic outlook
- 13.3.5.6 SWOT Analysis
- 13.3.6 Kenda Rubber Industrial
- 13.3.6.1 Market/Business Overview
- 13.3.6.2 Operating segment overview
- 13.3.6.3 Financial data
- 13.3.6.4 Product landscape
- 13.3.6.5 Strategic outlook
- 13.3.6.6 SWOT Analysis
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