Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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According to a research report published by Spherical Insights & Consulting, The Global Premium Tires Sales Market Size is Expected to Grow from USD 31.14 Billion in 2023 to USD 59.34 Billion by 2033, Growing at a CAGR of 6.66% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Premium Tires Sales Market Size, Share, and COVID-19 Impact Analysis, By Type (Summer Tires, Winter Tires, All-Season Tires, Performance Tires, Others), By Distribution Channel (OEM, Aftermarket, Online Stores, Specialty Tire Stores, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, And Africa), Analysis And Forecast 2023 - 2033
The international premium tires sales market refers to the business that manufactures and distributes high-quality, technologically advanced tires designed for luxury vehicles, sports cars, and high-performance vehicle models. These tires are characterized by superior materials, innovative designs, and features like enhanced grip, durability, noise reduction, and fuel efficiency. The growing consumer awareness of vehicle safety and upkeep is one of the main drivers of the premium tire sales market. Further, the rising popularity of EVs and hybrid vehicles also contributes to their market expansion. Moreover, the development of the market is also significantly influenced by technological upscale in tire production. However, the market growth is restricted by high upfront costs.
The all-season tires segment held a significant share of the global premium tires sales market in 2023 and is anticipated to grow at a rapid pace over the forecast period.
On the basis of the type, the global premium tires sales market is classified into summer tires, winter tires, all-season tires, performance tires, and others. Among these, the all-season tires segment held a significant share of the global premium tires sales market in 2023 and is anticipated to grow at a rapid pace over the forecast period. The segment growth is driven by their performance attributes to offer comfort, toughness, and safety.
The specialty tire stores segment accounted for a significant share of the global premium tires sales market in 2023 and is projected to grow at a rapid pace over the forecast period.
On the basis of the distribution channel, the global premium tires sales market is segmented into OEM, aftermarket, online stores, specialty tire stores, and others. Among these, the specialty tire stores segment accounted for a significant share of the global premium tires sales market in 2023 and is projected to grow at a rapid pace over the forecast period. This is due to the large assortment of high-end tire brands and models, and professional installation and maintenance services.
Asia Pacific is anticipated to hold the largest share of the global premium tires sales market over the forecast period.
Asia Pacific is expected to hold the greatest share of the global premium tires sales market over the forecast period. The regional market growth is influenced by the growing automotive industry, consumers' growing appetite for excellent automobile items, and their rising disposable incomes. Furthermore, the growing EV market and government programs supporting sustainable automotive accessories boost the market expansion. The nations like China, Japan, Australia, and Thailand, becoming a potential contributor variable for the premium tires sales market.
Europe is projected to grow at the fastest CAGR of the global premium tires sales market over the forecast period. The regional market growth is driven by strict safety laws and a strong emphasis on automotive upkeep, and the rising need for such tires for the use of winter season. Moreover, with a robust automotive manufacturing base and a strong drive for innovation, nations like Germany, France, and the United Kingdom are major contributors to the market expansion.
Company Profiling
Major vendors in the global premium tires sales market are Michelin, Bridgestone Corporation, Goodyear Tire & Rubber Company, Continental AG, Pirelli & C. S.p.A., Yokohama Rubber Company, Hankook Tire & Technology Group, Sumitomo Rubber Industries, Toyo Tire Corporation, Kumho Tire, Nokian Tyres, Apollo Tyres, Cooper Tire & Rubber Company, Falken Tire, BFGoodrich, Dunlop Tyres, Vredestein Banden B.V., Maxxis International, Giti Tire, Nexen Tire Corporation, and others.
Key Target Audience
Recent Development:
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global premium tires sales market based on the below-mentioned segments:
Global Premium Tires Sales Market, By Type
Global Premium Tires Sales Market, By Distribution Channel
Global Premium Tires Sales Market, By Regional
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