Europe Tire Market is Projected to Experience Robust Growth at a Steady CAGR of 3.20% by 2030

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The Europe Tire Market size was valued at around USD 43.25 billion in 2024 and is projected to reach USD 52.25 billion million by 2030. Along with this, the market is estimated to grow at a CAGR of around 3.20% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. This flourishing growth is significantly attributed to the rapidly rising vehicle fleet across the region due to the enhancing economic conditions, changing living standards, and growing inclination towards private ownership of vehicles, directly impacting the tire industry. Besides, the rising demand of consumers for ultra-high performance tires with greater durability & reliability is instigating the leading players to expand their production capacities, which, in turn, is also contributing to the overall market growth.

Moreover, favorable policies & massive investments by governments of different regional countries in the automotive & tire industries are augmenting the demand for tires with puncture resistance, high shock absorption, & improved sidewalls and, in turn, fueling the overall market growth. Furthermore, the increasing carbon emission levels across the region are instigating different countries to promote the adoption of Electric Vehicles (EVs) & green mobility. It, in turn, is boosting the production & sales of EV compatible tires and fueling the overall market growth, further states the research report, “Europe Tire Market Analysis, 2025.”

Europe Tire Market Segmentation Analysis

Extensive Availability of Replacement Tires to Boost the Market

Based on the Demand Category, the market is further bifurcated into, OEM and Replacement.

Replacement tires are projected to acquire the largest share in the Europe Tire Market during 2025-30, principally due to the increasing private vehicle ownership, coupled with burgeoning sales of second-hand vehicles across Europe, i.e., leading to the growing awareness among people about the benefits of timely inspection, repairs, & replacement of tires and thus driving the market. Besides, the extreme climate across the region is another reason behind the greater customer preference for replacement tires. Moreover, easy availability, a wide range of options, & affordability are other characteristics of replacement tires promoting their demand and driving the overall market

France is Projected to Lead the Europe Tire Market

France is poised to dominate the Europe tire market with the largest share during 2025–2030 due to several key factors. This growth is driven by robust demand for both seasonal and all-season tires, supported by legal requirements for winter tires in certain regions and a rising preference for premium and performance products. Additionally, the nation’s leadership in sustainability, R&D investment, and a well-developed logistics sector further cement France’s position as a key growth engine in Europe tire industry.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Michelin, Continental, Bridgestone, Pirelli, Dunlop, Hankook, Goodyear, Nokian, Yokohama, Cooper Tires, Kumho, Vredestein, Toyo, other are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?