Car Sharing Market by Vehicle Type, Application 2014-2024 Tire Market Research Report 2023 | Page 3

Tire Market
The use of tires are not limited to new vehicles, but can also be used in old vehicles for replacement purpose,
which is also a major market for tires. Passenger car is the largest segment of the global tire market in 2015,
accounting for more than 55%. On the other hand, two-wheeler and commercial vehicle tire segments
collectively contributed over 30% revenue to the global tire market in 2015.
In 2015, Asia-Pacific was globally the largest market for tire, followed by Europe and North America. Asia-Pacific
is further expected to lead the tire market during the forecast period, owing to the increase in the sales and
production of vehicles. In 2015, China, India and Japan were the major contributors to tire market in the region.
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