- The global market for EV tires is forecast to increase from an estimated $15.6 billion in 2022 to $46.2 billion in 2027
- The compound annual growth rate (CAGR) for EV tires for the report period is 24.3%
- EVs are placing further demand on tire developers to deliver ever lower rolling resistance, road noise and particle generation.
This report analyses and forecasts how the move to electric vehicles will impact tire market requirements and demand to 2027. Based on in-depth assessments of new mobility, car sharing, new technology and performance requirements, the study identifies the comprehensive range of trends associated with the transition to electric vehicles. The report also provides detailed forecasts of the future scenarios for the tire industry, and the impact on the value chain – from materials supply, through manufacturing, and beyond. With OEMs committed to electrification, this report looks at the increasing threat of total conventional vehicle phase-out just beyond the forecast period.
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What will you discover?
- The push for electric mobility and EV-specific tires remains strong due in large part to unwavering intensified government and corporate support. Even with significant previous development of ‘green’ tires in past years, the accelerating market expansion of EVs is requiring tire makers to innovate in the areas of supporting increased vehicle weight and torque, extending battery range through reduced rolling resistance and delivering a nearly silent ride for passenger comfort in the vehicle cabin.
The Smithers methodology
- Technology developments are covered in this report from the perspectives of consumers, producers and vehicle suppliers, including new feedstocks and materials, evolving performance parameters, new tire designs, capabilities and value
- Across the end-use sectors and global regions, EV tire demand is driven by global agreements, greenhouse gas emissions regulation, and technology subsidies and mandates
- The momentum for EVs and EV tire uptake continues despite threatened or actual recession, inflation, war escalation/expansion, or worse financial and supply chain crises.
This report is based on extensive primary and secondary research. Primary research consisted of targeted interviews with material suppliers, tire OEMs and experts drawn from key markets. This was supported by secondary research in the form of extensive literature analysis of published data, official government statistics, domestic and international trade organisation data, company websites, industry reports, trade press articles, presentations, and attendance at trade events.
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About the author
- Tire makers
- Producers of tire materials
- Equipment suppliers to the tire industry
- Participants in the tire markets value chain
- Industry analysts and researchers
Arthur Mayer has many years of experience in the tire industry, working in a variety of roles at Dealer Tire and as a contract writer and consultant covering a wide range of nontechnical tire topics for Smithers and its clients. He was a speaker at recent Smithers’ Traction conferences, covering the fast-emerging area of sensors and intelligent tires.