Market Trends

Europe Tire Market Trends, Scope, Demand, Opportunity and Forecast by 2026

According to the latest report by IMARC Group, titled “Europe Tire (Tyre) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the europe Tire (Tyre) Market exhibited stable growth during 2015-2020. Looking forward, IMARC Group expects the europe market to grow at a CAGR of 2.8% during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Tires refer to ring-shaped, pneumatically inflated structures that are placed around the rim of a wheel. They are usually manufactured using wire, rayon, steel, silica, carbon black, and natural or synthetic rubber. They assist in transferring load of the vehicle on the road and offering a gripping surface for traction while serving as a cushion for the wheels. They also aid in absorbing the shock and reducing the impact of vibrations of a moving vehicle. As a result, their use improves road feel and enhances the overall performance of the automobile.

Europe Tire Market Trends:

The market is primarily driven by the escalating sales of high-performance passenger vehicles and luxury cars in Europe, which has significantly bolstered the demand for good-quality tires with high durability and reliability. The market is further driven by the increasing sales of crossover utility vehicles (CUVs) and sport utility vehicles (SUVs) in the region. There has also been an increasing demand for automobile tires designed with improved sidewall puncture resistance and high-design cushion for road-shock, which is acting as a major growth-inducing factor. Furthermore, several manufacturers have introduced advanced product variants, such as flat-run, ecological and nitrogen-based variants. This, coupled with increasing environmental consciousness and an enhanced focus on sustainable development, is contributing to the market growth. Some of the other factors creating a positive outlook for the market include the increasing sales of electric vehicles and the growing implementation of several governmental regulations aimed to reduce vehicular pollution levels.

Europe Tire (Tyre) Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the europe tire (tyre) market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Michelin
  • Bridgestone Corporation
  • Continental AG
  • Goodyear Tire & Rubber Company
  • Sumitomo Corporation
  • Pirelli C. S.p.A
  • Yokohama Tire Corporation
  • Hankook Tire & Technology Co. Ltd.
  • Toyo Tire Corporation
  • Kumho Tire Co., Ltd.

Key Market Segmentation:

The report has segmented the europe tire (tyre) market on the basis of radial vs. bias, end-use, vehicle type, Size, distribution channel and country.

Breakup by Radial Vs. Bias:

  • Radial
  • Bias

On the basis of the radial vs. bias, the market has been bifurcated into radial and bias.

Breakup by End-Use:

  • OEM
  • Replacement

Based on the end-use, the market has been divided into OEM and replacement.

Breakup by Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Medium and Heavy Commercial Vehicles
  • Two-Wheelers
  • Three-Wheelers
  • Off-The-Road (OTR)

On the basis of the vehicle type, the market has been classified into passenger cars, light commercial vehicles, medium and heavy commercial vehicles, two-wheeler, off-the-road (OTR), and three-wheelers.

Breakup by Size:

  • Passenger Cars
  • Light Commercial Vehicles
  • Medium and Heavy Commercial Vehicles
  • Two-Wheelers
  • Off- The- Road (OTR)
  • Three-Wheelers

Based on the size, the market has been categorized into rim and tire size.

Breakup by Distribution Channel:

  • Offline
  • Online

On the basis of the distribution channel, the market has been segmented into offline and online.

Breakup by Country:

  • Germany
  • United Kingdom
  • Spain
  • France
  • Italy
  • Russia
  • Turkey
  • Netherlands
  • Belgium
  • Others

On the geographical front, the market has been segregated into Germany, the United Kingdom, Spain, France, Italy, Russia, Turkey, the Netherlands, Belgium, and Others.

The competitive landscape of the market has been examined in the report, with the detailed profiles of the key players. Some of these players include MICHELIN, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Corporation, Pirelli Tyre S.p.A., Yokohama Tire Corporation, Hankook Tire Co., Ltd., Toyo Tire Corporation, and KUMHO TIRE CO., INC.

Explore Full Report with TOC & List of Figure:

Key highlights of the report:            

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Industry Trends
  • Market Drivers and Success Factors
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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