Ottawa, July 21, 2025 (GLOBE NEWSWIRE) — The global electric vehicle tires market size stood at USD 26.81 billion in 2025 and is projected to reach USD 59.59 billion by 2034, according to a study published by Towards Automotive, a sister firm of Precedence Research.
The electric vehicle tire market has been experiencing significant growth recently, driven by the rising demand for EVs globally, largely due to their sustainability factor. The market is also experiencing a hike due to the advanced technology in the market helping EVs to perform better and help maintain sustainability as well.
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Key Highlights of the Electric Vehicle Tires Market
- By region, Asia Pacific has dominated the electric vehicle tires market due to the high adoption of EVs in the region and the government promoting the use of vehicles and providing funds for people to buy the vehicle.
- By region, Europe’s electric vehicle tires market is expected to grow in the forecast period due to the high adoption of EVs in the region along with following stricter emissions decided by the European government.
- By propulsion type, the battery electric vehicle segment led the market due to its higher demand and better performance due to advanced technology.
- By vehicle type, the passenger car segment dominated the market due to its comfort level and convenience along with maintaining sustainability.
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Market Overview
Electric vehicles today are dominating the automotive market highly due to their sustainability factor. They help automotive companies to control their carbon footprint and maintain nature’s harmony. Advanced technology has also helped the market to grow in recent years by improving vehicle performance compared to vehicles running on traditional fuels. Improved battery performance also helps the vehicle to manage traveling along with heavy weights without any compromise in performance.
The electric vehicle tires market is also observing growth due to advanced technology helpful for manufacturing tires to fulfill the rising demands of the consumer. The technology allows manufacturers to make higher and narrower EV tires for enhanced vehicle performance and improved torque. Safety and longevity are also important aspects of the market helpful for an EV along with the growth of the market.
New Trends of Electric Vehicle Tires Market
- The electric vehicle tires market is observing growth due to the high adoption of EVs due to their improved performance and advanced technology helping the market to fulfill the customer’s need for performance, safety, and longevity of the vehicle.
- Improved safety of EV tires is another helpful factor for the growth of the market. It helps to improve the safety and enhance the resilience of an EV.
- Government funds and incentives are also helping the growth of the electric vehicle tires market to allow people to purchase the vehicle and promote enhanced sustainability.
- Stricter emission rules laid by the government are another major factor helping the growth of the market. Such rules help the automotive industry to keep a tap on its carbon footprint and maintain sustainability.
What is the Role of AI in the Growth of Electric Vehicle Tires Market?
AI plays a vital role in the growth of the electric vehicle tires market. The advanced technology helps in suggesting the perfect tire design for EVs to enhance the safety of the vehicle and lower the rolling capacity. It also helps to improve the resilience of EVs and enhance their performance as well. The advanced technology helps to plan the ideal design for the tire to improve its torque, weight management, and other details to allow the vehicle to run smoothly for longer distances, helping the commercial industry as well. The technology also helps to lower the downtime of vehicles and detect any minor or major defects which can further lead to excess cost or damage repairs cost.
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Market Dynamics
Drivers
What are the Growth Drivers of the Electric Vehicle Tires Market?
There are multiple factors helpful in the growth of the electric vehicle tires market. One of the major factors that contribute to the market’s growth is the rising adoption of EVs. People today are highly inclined towards purchasing EVs compared to ICEs due to their improved technology and better performance along with its sustainability factor. The market also observes growth due to government incentives to buy EVs in the form of incentives and funds to buy EVs and contribute towards sustainability. The advanced technology helping in better tire design is another contributing factor in the growth of the electric vehicle tires market.
Challenge
High Production Cost Obstructing Market’s Growth
One of the major obstructions in the growth of the electric vehicle tires market is the high production cost of tires. The EV tires require special technology that helps them meet the requirements such as lower rolling resistance for improved range. The vehicle also needs to perform efficiently with the weights of batteries leading to higher costs in advanced technology. Hence, such issues act as obstructions to the growth of the market.
Opportunity
Technological Advancements Enhancing Market’s Growth
Technological advancements in the electric vehicle tires market are one of the major opportunities in the growth of the market. It helps in better EV tire design for low rolling resistance for an improved range of an electric vehicle. Advanced technology also helps to detect major and minor issues during the manufacturing procedure to lower downtime and prevent huge costs incurred in the future for major defects observed during the manufacturing of an EV.
More Insights of Towards Automotive:
- Tire Cord & Tire Fabrics Market – The tire cord & tire fabrics market is anticipated to grow from USD 5.94 billion in 2025 to USD 10.41 billion by 2034.
- Low Rolling Resistance Tire Market – The low resistance tire market is forecasted to expand from USD 25.12 billion in 2025 to USD 65.52 billion by 2034, growing at a CAGR of 11.24% from 2025 to 2034.
- Racing Tire Market – The racing tire market size is forecast to grow from USD 2.92 billion in 2025 to USD 3.94 billion by 2034, driven by a CAGR of 3.31% from 2025 to 2034.
- Automotive Retread Tires Market – The automotive retread tires market is anticipated to grow from USD 8.45 billion in 2025 to USD 11.76 billion by 2034, with a compound annual growth rate (CAGR) of 3.74%.
- Smart Tires Market– The smart tires market is projected to reach USD 188.68 billion by 2034, growing from USD 105.88 billion in 2025, at a CAGR of 6.63% during the forecast period from 2025 to 2034.
- Automotive Tubeless Tire Market – The automotive tubeless tire market is forecasted to expand from USD 209.51 billion in 2025 to USD 396.34 billion by 2034, growing at a CAGR of 7.34% from 2025 to 2034.
- Off-the-Road (OTR) Tire Market – The Off-the-Road (OTR) tire market is forecasted to expand from USD 18.53 billion in 2025 to USD 28.08 billion by 2034, growing at a CAGR of 4.73% from 2025 to 2034.
- Solid Tire Market– The global solid tire market size is calculated at USD 449.55 million in 2024 and is expected to be worth USD 926.64 million by 2034, expanding at a CAGR of 8.15% from 2024 to 2034.
- Automotive Green Tires Market – The global automotive green tires market size is calculated at USD 12.08 billion in 2024 and is expected to be worth USD 18.35 billion by 2034, expanding at a CAGR of 4.7%.
- Heavy-duty Tire Market – The heavy-duty tires market is expected to increase from USD 29.21 billion in 2025 to USD 39.37 billion by 2034, growing at a CAGR of 3.37%.
Segmental Analysis
By Propulsion Type
The Battery Electric Vehicle (BEV) led the Electric Vehicle Tires Market
The battery electric vehicle segment of the electric vehicle tires market led the market due to multiple factors helping the growth of the segment. Such vehicles operate entirely on batteries, unlike combustion engine vehicles. Hence, they perform better and also contribute to zero-emission missions to improve sustainability. The segment also contributes to the growth of the market due to the sustainability factor helping to lower the carbon footprint of the automobile industry.
The Hybrid Vehicles Segment is Observed to Grow in the Foreseen Period
The hybrid vehicle segment is observed to be growing in the foreseen period due to its capability of working with the help of electricity along with working on traditional fuels. Such vehicles are helpful in case of low electric charge of the vehicle during long journeys allowing the hybrid vehicle to move with the help of gasoline fuels. Such situations make the segment grow in the foreseen period helping the growth of the electric vehicle tires market.
By Vehicle Type
The Passenger Car Segment dominated the Electric Vehicle Tires Market
The passenger car segment dominated the market due to the segment’s rising popularity. Consumers prefer passenger cars such as sedans, hatchbacks, and SUVs for longer journeys and traveling in a personal vehicle. The segment also helped in the growth of the electric vehicle tires market due to the high preference for electric passenger cars helpful to maintain sustainability and lower carbon emissions.
The Commercial Vehicle Segment is Expected to Grow in the Forecast Period
The commercial vehicle segment is observed to grow in the future period compelling companies to switch to electric commercial vehicles. It will help the industry to lower its carbon footprint and manage its zero-emission mission. The government in various regions is also providing incentives and funds to the industry for purchasing electric trucks to maintain sustainability without any compromise on the performance of the industry.
Regional Analysis
Asia Pacific dominated the Electric Vehicle Tires Market
Asia Pacific dominated the electric vehicle tires market due to the rising adoption of EVs in the region for multiple reasons. Consumers prefer EVs compared to ICE vehicles due to their enhanced performance and sustainability factor. High government incentives and funds to enhance the industry and high investment by private automotive industries also contribute to the growth of the market.
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Top Asian Countries’ Trends in Electric Vehicle Tires Market:
- Government incentives and infrastructure support across China, India, Thailand, Indonesia, and Vietnam.
- Emergence of domestic tire manufacturers like CEAT, JK Tyre, MRF (India), ZC Rubber (China), and others producing cost-effective EV-specific tires.
- Chinese production of EVs translates into massive volume for EV-specific tires, with billions of tires produced annually (China’s tire output topped 1 billion units in 2024)
- Key domestic manufacturers such as Zhongce Rubber (Westlake, Chaoyang), Sailun, Linglong, Giti Tire, and others accounted for over 55% of total sales among top Chinese listed tire firms in 2023, many increasingly focused on EV-specific product lines
Europe is expected to grow with the highest CAGR in the Forecast Period
Europe is expected to grow in the foreseen period due to higher adoption of EVs in the region. The stricter regulations on emission control by the European government are also helping the electric vehicle tires market to grow in the region. The region is also observing higher investment by private automotive companies in electric vehicle manufacturing for enhanced sustainability and better performance. The government also helps in the form of initiatives and funds to help promote the industry among consumers.
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Recent Developments in the Electric Vehicle Tires Market
- In April 2025, Enso, an electric vehicle tire manufacturing company launched its new line of ultra-high performance tires for electric vehicles. The company claims the tires will aid rolling resistance and improve vehicle performance with enhanced safety.
- In October 2024, Himadri Speciality Chemical Ltd announced its entry into the EV tire business segment within 2 years.
Top Companies in the Electric Vehicle Tires Market
- Michelin (France)
- Continental AG (Germany)
- Nokian Tires (Finland)
- Toyo Tyres (Japan)
- PIRELLI TYRE S.P.A. (Italy)
- Goodyear Tyres (U.S.)
- Sumitomo Rubber Industries (Japan)
- Bridgestone Corporation (Japan)
- Trelleborg AB (Sweden)
- Hankook Tire & Technology (South Korea)
Segments Covered in the Report
By Propulsion Type
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
By Sales Channel
- OEM
- Aftermarket
By Tire Size
- Up to 17”
- 18″ to 21″
- Above 21″
By Vehicle Type
- Passenger Car
- Commercial Vehicle
By Region
- North America
- Latin America
- Europe
- Asia and Pacific
- Middle East and Africa
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