Automotive Summer Tire Market Size, Sales, Report by 2027

Automotive summer tires are made from soft compound materials and are designed to operate at temperature more than 5 degree Celsius. They offer improved traction and reduced resistance for moving with high performance when compared to all-season tires. Furthermore, the development of tires with sensor technologies such as tread depth sensor, tire pressure monitoring system, and others help analyzing the road conditions & the temperature of the road. Owing to the various mentioned advantages of smart tires numerous tire manufacturers have started the production of smart tires. For instance, on 2019, Continental AG (a tire manufacturer headquartered in the U.S.) launched different tire technologies such as contisense & contiadapt, which helps in boosting the tire life by minimizing the wear & tear and enhancing the safety & comfort over a hot road surface. Therefore, increase in demand for safety and comfort is expected to drive the growth of the global automotive summer tire market in the near future.

Market scope and structure analysis:

Report Metric	Details
Market size available for years	2020–2027
Base year considered	2019
Forecast period	2021–2027
Forecast units	Value (USD)
Segments covered	Section Width, Vehicle Type, Aspect Ratio, Type, Rim Size, Sales Channel and Region
Regions covered	North America (the U.S. and Canada), Europe (Germany, the UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM) and The Middle East and Africa
Companies covered	Major players analyzed include Apollo Tyres Ltd., Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Hankook Tire Co. Ltd., Michelin Group, Pirelli & C. Spa, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Co. and The Yokohama Rubber Co. Ltd.

COVID-19 scenario Analysis:

Majority of automotive summer tire manufacturers are not expecting any major impact of coronavirus on the tire industry mainly due to the aftermarket sales.
Original equipment manufacturers’ (OEM) businesses are under pressure due to supply disruption; however, tire industry was not significantly impacted as a whole, since only 20% of the tire market deals in the OEM segment.
The vendors in automotive summer tire industry across the globe is expected to be less impacted by the production cost as prices of raw materials have stayed constant and also no price movement is expected until pandemic gets over.
Majority of Chinese manufacturers have shifted their operations to Thailand, due to which the import duty has shown a hike. The demand and supply cycle of many automotive summer tire manufacturers can be vulnerable.
The pandemic has had a negative impact on the automotive summer tire factory output for the year 2020 due to the Corona virus; however, a major increase in the number of purchases of summer tires has been noticed in the automotive summer tire market.

Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis

Increase in automotive production & sales, introduction of advanced technology such as tread depth sensor & tire pressure monitoring system, and rise in competition among tire manufacturers are driving the growth of the market. However, factors such as volatile prices of raw materials and developments in the market of retreading tires are expected to hamper the growth of the market. Contrarily, advancements in technology such as fuel efficiency & safety concerns is expected to create an opportunity for the market investments.

The global automotive summer tire market trends are as follows:

Rise in competition among tire manufacturers

Leading automotive manufacturers such as Daimler and Volkswagen are constantly investing in the developing countries such as Indonesia, India, and others. This will help the manufacturers in reducing the production cost by employing low-cost labor, which is easily available in such countries, and is expected to affect the increase in demand for inexpensive summer tire. A major rise in competition of tire manufacture has been noticed due to which companies are shifting operations in developing countries. For instance, South Korea’s second largest tire manufacturer Kumho Tire has closed a deal with century engineering industries to transfer its tire making technology to Pakistan for the next 10 years due to rise in intense competition in the summer tire market. Therefore, rise in competition among tire manufacturers is expected to boost the growth of the automotive tire market.

Key segments covered:

Segments	Sub-segments
Section Width	Less than 200 Millimeters 200 to 230 Millimeters More than 230 Millimeters
Vehicle Type	Passenger Vehicle Light Commercial Vehicle Heavy Commercial Vehicle
Aspect Ratio	Less than 60 60 to 70 More than 70
Type	Radial Tube Tubeless Bias
Rim Size	13 to 15 Inches 16 to 18 Inches 19 to 21 Inches More than 21 Inches
Region	North America U.S. Canada Mexico Europe Germany France UK Italy Rest of Europe Asia-Pacific China Japan India South Korea Rest of Asia-Pacific LAMEA Brazil Turkey Saudi Arabia South Africa Rest of LAMEA

Key benefits of the report:

This study presents the analytical depiction of the automotive summer tire industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the automotive summer tire market.
The current market is quantitatively analyzed from 2019 to 2027 to highlight the automotive summer tire market growth scenario.
We can also determine summer tyre will remain a significant revenue shareholder in the global automotive summer tire market through the predictable future.

Questions answered in the global automotive summer tire market research report:

Which are the leading market players active in the automotive summer tire market?
What are the current trends that will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What are the projections for the future that would help in taking further strategic steps?

Automotive Summer Tire Market Report Highlights

Aspects	Details
By Section Width	Less than 200 Millimeters 200 to 230 Millimeters More than 230 Millimeters
By Vehicle Type	Passenger Vehicle Light Commercial Vehicle Heavy Commercial Vehicle
By Aspect Ratio	Less than 60 60 to 70 More than 70
By Region	North America (U.S., Canada, Mexico) Europe (UK, Germany, France, Russia, Rest of Europe) Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa, Rest of LAMEA)
By Type	Radial Tube Tubeless Bias
By Rim Size	13 to 15 Inches 16 to 18 Inches 19 to 21 Inches More than 21 Inches
Key Market Players	Hankook Tire Co. Ltd., Apollo Tyres Ltd, The Goodyear Tire & Rubber Co., Pirelli & C. Spa, Cooper Tire & Rubber Co., Continental AG, The Yokohama Rubber Co. Ltd., Michelin Group, Bridgestone Corp., Sumitomo Rubber Industries Ltd.