Premium and prestige tires have long been a market segment of above-average global tire market performance. Despite current and near-term setbacks the long-term trend towards premium, luxury, and higher performance tires remains fundamentally strong.
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?
- 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.
The Smithers methodology
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?
- Producers of materials
- Equipment suppliers
- Product manufacturers
- Product integrators
- Users of the tire markets value chain.
About the author:
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.
Table of Contents
Executive summary
Introduction & methodology
- Objectives
- Scope
- Methodology
- Definitions and abbreviations used
Premium and prestige tire industry overview
- Major drivers and trends
- Economic growth and macro trends
- Summary of COVID-19 impacts
- Light vehicle tire market overview
- User requirements
- Technology highlights
- Regulatory environment
- Supply chain and key industry players
- Premium/prestige tires market topline forecast
Cutting-edge technology developments
- Luxury and premium tire performance technologies
- All-season, all-weather and summer tire technologies
- Sustainability/renewable resources
- Fuel efficiency
- Long-life õ Run-flat
- Intelligent tires/sensors
- Noise reduction
- Emerging vehicle technologies
- Impact of electric vehicles
- Impact of autonomous vehicles
- Luxury and premium tire manufacturing technology trends
- Luxury and premium tire aftermarket service technology trends
Premium and prestige tire market by material input
- Elastomers
- Extender oils and resins
- Carbon black
- HDS precipitated silica
- Conventional precipitated silica
- Steel cord
- Textile cord
- Chemicals (including silanes)
Premium/prestige tires tire markets by vehicle type
- Cars
- Compact and subcompact
- Mid-size
- Saloon/sedan/full-size/sports
- Light trucks
- SUV
- Crossover SUV (CUV)
- Other (pick-up, van)
Premium and prestige tire market by region
- Europe
- Western Europe
- Central and Eastern Europe
- Asia-Pacific
- China
- India
- Japan
- Other Asia-Pacific
- North America
- South and Central America
- Middle East and Africa
Opportunities and future outlook
- Evolving consumer/OE demands
- Future impact of COVID-19
- Impact of EVs and AVs on premium and prestige tires
- Electric vehicle uptake
- Autonomous vehicle uptake
- Distribution and service
- Impact of regulations
- Emerging materials and novel approaches
- Examples of suppliers and their profitability/growth strategies. õ Pricing dynamics in premium and prestige tires
Key Facts and Figures
- Premium/prestige tire topline market forecast
- Premium and prestige tire market by raw material input, 2015-25, by volume (million tonnes)
- Global premium/prestige tire demand volume by end use (million units)
- Global premium/prestige tire demand volume by region (million units)
- Opportunity and unmet need matrix by technology/product service area versus customer/stakeholder type
- Premium/prestige tires market penetration
- Premium/prestige tire topline market forecast
- Premium and prestige tire market share by raw material input, 2020, by volume (% share)
- Premium and prestige tire market share by raw material input, 2025, by volume (% share)
- Global premium/prestige tire demand volume by vehicle type (million units)
- Global premium/prestige passenger car tire demand volume by type (million units)
- Global premium/prestige light truck tire demand volume by type (million units)
- Global premium/prestige tire demand volume by region (million units)
- Europe premium/prestige tire demand volume by sub-region/country (million units)
- Western Europe premium/prestige tire demand volume by sub-region/country (million units)
- Central and Eastern Europe premium/ prestige tire demand volume by subregion/ country (million units)
- Asia-Pacific premium/prestige tire demand volume by sub-region/country (million units)
- North America premium/prestige tire demand volume by sub-region/country (million units)
- South and Central America premium/ prestige tire demand volume by subregion/ country (million units)
- Middle East and Africa premium/ prestige tire demand volume by subregion/ country (million units)
- Electric vehicle market penetration
- Autonomous vehicle market penetration
- Premium/prestige tires definitions
- List of abbreviations
- Top five drivers and trends, 2020-25
- Global GDP by region
- GDP per capita by region
- Light vehicle tire market forecasts by region
- Overview of user requirements
- Summary of latest technology developments
- Major market participants
- Luxury and premium tire technological issues and trends by tire attributes and industry/market participant perspectives
- Premium and prestige tire market by raw material input, 2015-25, by volume (million tonnes)
- Premium and prestige consumption of elastomers, 2015-25, by volume (million tonnes)
- Premium and prestige tire consumption of extender oils and resins, 2015-25, by volume (million tonnes)
- Premium and prestige tire consumption of carbon black, 2015- 25, by volume (million tonnes)
- Premium and prestige tire consumption of HDS precipitated silica, 2012-22, by volume (million tonnes)
- Premium and prestige tire consumption of conventional precipitated silica, 2015-25, by volume (million tonnes)
- Premium and prestige tire consumption of steel cord, 2015-25, by volume (million tonnes)
- Premium and prestige tire consumption of textile cord, 2015-25, by volume (million tonnes)
- Premium and prestige tire consumption of chemical (including silanes), 2015-25 by volume (million tonnes)
- Global premium/prestige tire demand volume by vehicle type (million units)
- Global premium/prestige tire demand value by vehicle type (million $)
- Global premium/prestige passenger car tire demand volume by type (million units)
- Global premium/prestige passenger car tire demand value by type (million $)
- Global premium/prestige compact and subcompact passenger car tire demand volume (million units)
- Global premium/prestige compact and subcompact passenger car tire demand value (million $)
- Global premium/prestige mid-size passenger car tire demand volume (million units)
- Global premium/prestige mid-size passenger car tire demand value (million $)
- Global premium/prestige saloon/sedan/ full-size/sports passenger car tire demand volume (million units)
- Global premium/prestige saloon/sedan/ full-size/sports passenger car tire demand value (million $)
- Global premium/prestige light truck tire demand volume by type (million units)
- Global premium/prestige light truck tire demand value by type (million $)
- Global premium/prestige SUV tire demand volume (million units)
- Global premium/prestige SUV tire demand value (million $)
- Global premium/prestige CUV tire demand volume (million units)
- Global premium/prestige CUV tire demand value (million $)
- Global premium/prestige other light truck tire demand volume (million units)
- Global premium/prestige other light truck tire demand value (million $)
- Global premium/prestige tire demand volume by region (million units)
- Global premium/prestige tire demand value by region (million $)
- Overview of key premium/prestige trends by region and key countries
- Europe premium/prestige tire demand volume by sub-region/country (million units)
- Europe premium/prestige tire demand value by sub-region/country (million $)
- Western Europe premium/prestige tire demand volume by sub-region/country (million units)
- Western Europe premium/prestige tire demand value by sub-region/country (million $)
- UK premium/prestige tire demand volume (million units)
- UK premium/prestige tire demand value (million $)
- Germany premium/prestige tire demand volume (million units)
- Germany premium/prestige tire demand value (million $)
- France premium/prestige tire demand volume (million units)
- France premium/prestige tire demand value (million $)
- Other Western Europe premium/ prestige tire demand volume (million units)
- Other Western Europe premium/ prestige tire demand value (million $)
- Central and Eastern Europe premium/ prestige tire demand volume by subregion/ country (million units)
- Central and Eastern Europe premium/ prestige tire demand value by subregion/ country (million $)
- Russia premium/prestige tire demand volume (million units)
- Russia premium/prestige tire demand value (million $)
- Poland premium/prestige tire demand volume (million units)
- Poland premium/prestige tire demand value (million $)
- Other Central and Eastern Europe premium/prestige tire demand volume by sub-region/country (million units)
- Other Central and Eastern Europe premium/prestige tire demand value by sub-region/country (million $)
- Asia-Pacific premium/prestige tire demand volume by sub-region/country (million units)
- Asia-Pacific premium/prestige tire demand value by sub-region/country (million $)
- China premium/prestige tire demand volume (million units)
- China premium/prestige tire demand value (million $)
- India premium/prestige tire demand volume (million units)
- India premium/prestige tire demand value (million $)
- Japan premium/prestige tire demand volume (million units)
- Japan premium/prestige tire demand value (million $)
- Other Asia-Pacific premium/prestige tire demand volume (million units)
- Other Asia-Pacific premium/prestige tire demand value (million $)
- North America premium/prestige tire demand volume by sub-region/country (million units)
- North America premium/prestige tire demand value by sub-region/country (million $)
- USA premium/prestige tire demand volume (million units)
- USA premium/prestige tire demand value (million $)
- Canada premium/prestige tire demand volume (million units)
- Canada premium/prestige tire demand value (million $)
- Mexico premium/prestige tire demand volume (million units)
- Mexico premium/prestige tire demand value (million $)
- South and Central America premium/ prestige tire demand volume by subregion/ country (million units)
- South and Central America premium/ prestige tire demand value by subregion/ country (million $)
- Brazil premium/prestige tire demand volume by sub-region/country (million units)
- Brazil premium/prestige tire demand value (million $)
- Other South and Central America premium/prestige tire demand volume (million units)
- Other South and Central America premium/prestige tire demand value (million $)
- Middle East and Africa premium/ prestige tire demand volume by subregion/ country (million units)
- Middle East and Africa premium/ prestige tire demand value by subregion/ country (million $)
- Middle East premium/prestige tire demand volume (million units)
- Middle East premium/prestige tire demand value (million $)
- Africa premium/prestige tire demand volume (million units)
- Africa premium/prestige tire demand value (million $)
- Opportunity and unmet need matrix by technology/product service area versus customer/stakeholder type
- Key tire company metrics around premium and prestige tires
- SWOT analysis for tire manufacturers and suppliers
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