Global Passenger Car Tyre Market
In value terms, passenger car tyre production totaled $ in estimated in export price. The total output value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2011 when the production volume increased by %. Global production peaked at $ in 2018; however, from 2019 to , production stood at a somewhat lower figure.
China ( units) remains the largest passenger car tyre producing country worldwide, comprising approx. % of total volume. Moreover, passenger car tyre production in China exceeded the figures recorded by the second-largest producer, the United States ( units), fourfold. The third position in this ranking was held by India ( units), with a % share.
From 2007 to , the average annual growth rate of volume in China totaled +%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+% per year) and India (+% per year).
The global passenger car tyre market size was estimated at $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Global consumption peaked at $ in 2018; however, from 2019 to , consumption stood at a somewhat lower figure.
From 2007 to , the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by India (with a CAGR of +%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($), China ($) and India ($) were the countries with the highest levels of market value in , with a combined % share of the global market.
India, with a CAGR of +%, recorded the highest rates of growth with regard to market size, among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of passenger car tyre per capita consumption in were Canada ( units per persons), the United States ( units per persons) and France ( units per persons).
From 2007 to , the biggest increases were in India (with a CAGR of +%), while consumption for the other global leaders experienced more modest paces of growth.