The global electric vehicle tires market size is projected to grow from USD 11.21 billion in 2025 to USD 27.63 billion by 2032, at a CAGR of 13.6%.
The market’s growth is driven by surging electric vehicle adoption across the passenger and commercial segments, necessitating tires with higher load capacity and optimized rolling resistance. OEMs are increasingly integrating EV-specific tires as standard fitments, enhancing demand. Advancements in tire technology, such as low-noise compounds and smart features, further support EV efficiency and safety. Government incentives and tightening emission norms also accelerate the shift toward electric mobility, indirectly fueling tire market growth.
The heavy commercial vehicles segment is projected to exhibit the highest growth in global electric vehicle tires market during the forecast period
By vehicle type, the heavy commercial vehicles segment is projected to achieve the highest growth during the forecast period. Heavy commercial vehicles transport heavy goods, including heavy-duty trucks, trailers, and towing trucks. The weight-carrying capacity of heavy trucks is more than that of LCVs. Heavy trucks have more than four tires. This is driving the growth of the electric vehicle tires market for this segment. Additionally, government policies focusing on reducing emissions from heavy commercial vehicles are pushing the OEMs to create electric HCVs, catering to the sustainable transport of goods.
The on-road segment is projected to achieve significant growth opportunities during the forecast period
By application, the on-road segment is projected to account for the largest market during the forecast period. The growth of the segment is due to the high sales volume of passenger cars, such as the Tesla Model S, Mercedes-Benz EQS, and more, uses Michelin Pilot Sport S 5 and Pirelli P Zero (PZ4) tires, respectively. Many governments, such as Finland and Norway, focus on reducing emissions in city centers caused by public transport. This is also driving the growth of the segment globally.
North America is projected to achieve the highest growth by 2032
North America is projected to be the fastest-growing market by 2032. The US is home to the big three vehicle manufacturers: Ford (US), General Motors (US), and Tesla (US). The growing demand for electric passenger cars and luxury SUVs, and the increasing adoption of electrification in the logistics and transport sector, are boosting the electric vehicle tires market in the US. Government subsidies, policies, and tax rebates are also driving the sales of electric vehicles, which will increase demand for electric vehicle tires.
Key Players
The electric vehicle tires market is dominated by global players such as Michelin (France), Bridgestone Corporation (Japan), The Goodyear Tire & Rubber Corporation (US), Continental AG (Germany), and Pirelli & C. SpA (Italy), Sumitomo Rubber Industries, Ltd. (Japan), among others. These companies have adopted product development strategies, expansion, partnerships & collaborations, and mergers & acquisitions to gain traction in the market.
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