Our exclusive content:
- Premium and prestige tires technologies
- Raw material innovations and trends
- Economic growth and macro trends
- Premium and prestige tires by vehicle type, region and country
- Summary of COVID-19 impacts
- Regulatory environment
Premium and prestige tires have long been a market segment of above-average global tire market performance. Despite current and near-term setbacks due to COVID-19 and associated reductions in economic activity, motor vehicle sales and use, the long-term trend towards premium, luxury, and higher performance tires remains fundamentally strong.
After a significant dip in 2020, global tire demand from the premium and prestige segment is expected to reach a market value of $50.8 billion in 2025, growing 7.7% per year from the 2020 trough. Premium tire materials and technology trends are evolving along with this market segment, driven by increasingly demanding OEMs, end users and regulators, as well as by the intensified R&D and capital investments of tire manufacturers and their suppliers attracted by higher margins and market growth.
What will you discover?
The Smithers methodology
- This report examines the underlying factors supporting this performance, such as demand from the dynamic electric vehicle segment, whose momentum is expected to resume based on continued regulatory pressure and technology improvements
- Also significant are mobility trends and preferences that are driving the shift to SUVs, particularly of the crossover variety (CUVs), which are increasingly adopting premium tires in the original equipment segments
- Cutting edge product examples, by manufacturer, OEM and regional/country market are highlighted to illustrate growth trends on a more granular level.
This report is based on extensive primary and secondary research. Primary research consisted of interviews with targeted interviews with packaging material suppliers, converters and experts drawn from key markets.
This was supported by secondary research in the form of extensive literature analysis of published data, official government statistics, domestic and international trade organisation data, company websites, industry reports, trade press articles, presentations, and attendance at trade events.
Who should buy the report?
About the author:
- Producers of materials
- Equipment suppliers
- Product manufacturers
- Product integrators
- Users of the tire markets value chain.
Art Mayer has many years of experience in the tire industry, working in a variety of roles at Dealer Tire and as a contract writer and consultant covering a wide range of non-technical topics in the tire market for Smithers and its clients. He has previously been a speaker at Smithers’ Traction conferences, covering the fast-emerging area of sensors and intelligent tires.