South Korea Tire Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Medium and Heavy Commercial vehicles, Two Wheelers, Three Wheelers, Off-The-Riad (OTR)), By Design (Radial Market and Bias Market), and South Korea Tire Market Insights, Industry Trend, Forecasts to 2035

South Korea Tire Market Insights Forecasts to 2035

• The South Korea Tire Market Size was Estimated at USD 3,196.70 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 5.07% from 2025 to 2035
• The South Korea Tire Market Size is Expected to Reach USD 5,507.26 Million by 2035

According to a research report published by Spherical Insights and Consulting, The South Korea Tire Market Size is anticipated to reach USD 5,507.26 Million by 2035, growing at a CAGR of 5.07% from 2025 to 2035. The Strong auto manufacturing, the growing popularity of electric vehicles, and the rising need for high-performance and environmentally friendly tires are all contributing to the market's notable expansion. Market expansion is also supported by developments in smart tire technologies and the growth of online distribution channels. The dynamics of the South Korean tire market share are further influenced by regional diversity and innovation-focused strategies, which increase competitiveness across segments.

Market Overview

The South Korean tire market encompasses the manufacture, marketing, and distribution of tires for a range of automobiles, including two-wheelers, passenger cars, commercial vehicles, and electric vehicles (EVs), are all included in the South Korean tire market. Driven by technological advancements, environmental concerns, and changing consumer demands, it is distinguished by a combination of domestic manufacturing and international partnerships. Additionally, the growth and development of eco-friendly tire technologies is one of the main opportunities in the South Korean tire market. More environmentally friendly tires are being used as such of growing global environmental consciousness and the pressure that comes with stricter regulations on carbon emissions. Businesses that invest in eco-friendly materials and tires with low rolling resistance will benefit from this. By producing tires made of renewable materials or advanced rubber compounds that improve fuel efficiency, as well as by introducing smart technologies in tires with sensors so that performance can be tracked in real time, both consumer demand and regulatory requirements are being met. At that point, businesses will be well on their way to being prepared to take the lead in the market as environmental and technological advancements continue to push it.

Report Coverage

This research report categorizes the market for the South Korea tire market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea tire market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea tire market.

Driving Factors

The most recent integrated growth factor in the South Korean tire market is AI-powered tire care systems. By integrating sensors and performing data analytics, artificial intelligence advancements have enabled real-time monitoring and predictive tire maintenance. Nexen Tire, for instance, pioneered the use of AI in tire condition monitoring and wear pattern prediction to notify drivers well in advance of tire health and maintenance needs. In addition to improving safety, this technology prolongs tire life and lowers a vehicle's overall maintenance costs. This explains the main features of the recent tire market trend in South Korea. In addition, as AI-driven technologies advance and more capabilities are created that offer customers even greater conveniences and improved performance, they are becoming a huge competitive advantage for any business in the market. This contributes to the broader trend of automotive technology digitization. Given the growing consumer demand for smart technologies, this clever solution is also environmentally friendly, guaranteeing the tire's best possible use and reducing waste.

Restraining Factors

The strict environmental regulations are the main obstacle facing South Korea's tire industry. The South Korean tire market's revenue has been impacted by the ongoing pressure on the tire manufacturing sector to comply with green regulations that seek to drastically reduce their environmental impact.

Market Segmentation

The South Korea Tire Market share is classified into type and design.

• The passenger cars segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea tire market is segmented by type into passenger cars, light commercial vehicles, medium and heavy commercial vehicles, two wheelers, three wheelers, and off-the-riad (OTR). Among these, the passenger cars segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. This is driven by the demand for urban mobility and a high rate of vehicle ownership. Tire comfort, performance, and fuel economy are top priorities for consumers. The popularity of electric and hybrid cars also affects tire specifications, leading tire manufacturers to provide cutting-edge, silent, and long-lasting options specifically for this expanding market.

• The radial tire segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea tire market is segmented by design into radial market and bias market. Among these, the radial tire segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Radial tires are recommended for both passenger cars and commercial vehicles because they provide greater grip, enhanced ride comfort, and a longer tread life. Growth in this market is being driven by technological developments as well as rising consumer demand for high-performance and environmentally friendly tires. Furthermore, since radial tires are better suited to EV-specific needs like weight and torque, the market for radial tires is further boosted by the trend toward electric vehicles.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea tire market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Bridgestone Corporation
• Michelin Group
• Continental AG
• Pirelli & C. S.p.A
• Others

Recent Developments:

• In August 2023, Hankook Tire & Technology (Hankook Tire) introduced its proprietary technology system for 'iON,' a new brand of Hankook Tire for electric vehicles, to increase efficiency in the research and development process and enhance customer communication. The name of the newly established system, 'iON INNOVATIVE TECHNOLOGY,' originated from the 'iON' brand, which the company had designated as its flagship tire brand for electric vehicles.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea tire market based on the below-mentioned segments:

South Korea Tire Market, By Vehicle Type

• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial vehicles
• Two Wheelers
• Three Wheelers
• Off-The-Riad (OTR)

South Korea Tire Market, By Design

• Radial Market
• Bias Market