South Korea Tire Market to Grow with a CAGR of 4.66% through 2030
Rising vehicle production, increasing replacement demand,
and growing adoption of high-performance tires are the factors driving the
market in the forecast period 2026-2030.
According to TechSci Research report, “South Korea
Tire Market – By Region, Competition, Opportunities and Forecast, 2020-2030F”,
The South Korea Tire Market was valued at USD 3.27 Billion in 2024 and is
expected to reach 4.29 Billion by 2030 with a CAGR of 4.66% during the forecast
period.
The South Korea tire market is shaped by evolving mobility
trends, shifts in consumer behavior, and the push for sustainability within the
automotive sector. The rising average vehicle age across passenger and
commercial segments has extended the tire replacement cycle, leading to steady
aftermarket demand. Growing urbanization and high vehicle density in major
provinces have intensified daily vehicle usage, accelerating tire wear and
driving frequent purchases. The emergence of electric vehicles has introduced
new performance requirements, such as enhanced durability and noise reduction,
pushing manufacturers to innovate with specialized compounds and tread designs
suited for EVs. Government-backed initiatives promoting green transportation
have also stimulated the market for eco-friendly tire solutions, fostering
demand for low-emission and energy-efficient products. The strategic focus of
tire manufacturers on exports, combined with South Korea's advanced
manufacturing infrastructure, has positioned the country as a key production
hub, catering to both domestic and international markets. Competitive dynamics
in the premium tire segment and heightened consumer demand for quality
assurance have encouraged continuous improvements in tire testing, certification,
and product development. Moreover, partnerships between tire makers and
automotive OEMs have strengthened supply chains, ensuring alignment with
evolving vehicle technology trends and performance expectations.
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South Korea Tire Market Is Segmented by Vehicle Type,
Tyre Construction Type, Demand Category, and Region.
In
2024, the replacement tire segment emerged as the fastest-growing category in
the South Korea tire market. The increase in average vehicle age and a growing
emphasis on regular maintenance among both personal and commercial vehicle
owners boosted demand for replacement tires. Rising daily vehicle usage
intensified tire wear, leading to more frequent replacements across urban and
intercity routes. Consumers also showed stronger interest in specialized tires
designed for performance, fuel efficiency, and safety, further driving
replacement demand. The shift in market focus toward high-mileage and premium
aftermarket products contributed to this growth, as buyers prioritized
durability and advanced features. The expansion of tire retail networks and
aftermarket service centers supported easier access to a variety of replacement
options, helping this segment gain momentum over original equipment demand in
2024.
South Chungcheong registered the fastest growth among key
regions in the South Korea tire market. The region’s industrial and logistics
activities created consistent demand for commercial vehicle tire replacements.
Extensive use of transport vehicles on key trade routes increased tire wear
rates, prompting frequent replacements. The region’s role as a distribution
center supported the rise of tire outlets and service points, catering to both
individual and fleet customers. Growing commercial activities and road
transport reliance made South Chungcheong a key driver of regional tire market
expansion.
Major Market Players Operating in South Korea Tire Market
Are:
- Bridgestone
Corporation
- Michelin
Group
- The
Goodyear Tyres & Rubber Company
- Continental
AG
- Pirelli
& C. S.p.A.
- Yokohama
Rubber Company, Limited
- Hankook
Tyres & Technology Co., Ltd.
- Kumho
Tyres Co., Inc.
- Sumitomo
Rubber Industries, Ltd.
- Toyo
Tyres Corporation
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“Technological advancements in smart tire systems are emerging as a transformative trend in the South Korea tire market, aligning with broader developments in automotive connectivity and intelligent transportation solutions. Smart tires equipped with sensors can monitor critical parameters such as tire pressure, temperature, tread depth, and overall condition, providing real-time data to drivers or fleet operators. This innovation enhances vehicle safety, performance, and maintenance planning, reducing the risk of accidents related to tire failure. Integration with advanced driver-assistance systems and fleet management platforms allows for proactive maintenance alerts, improving vehicle uptime and operational efficiency. Tire manufacturers are collaborating with technology firms to develop embedded sensor technologies, wireless communication systems, and predictive analytics capabilities, pushing the boundaries of what conventional tires can offer. The adoption of smart tire technology is particularly significant in commercial transportation and logistics sectors, where operational efficiency and safety are paramount”, said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“South Korea Tire Market By Vehicle Type (Passenger Car, Commercial Vehicle, Two-Wheelers), By Tire Construction Type (Radial, Bias), By Demand Category (OEM, Replacement), By Region, Competition, Opportunities and Forecast, 2020-2030F”,
assesses the market's future growth potential and provides data on market size,
trends, and forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the South Korea
Tire Market.
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