Europe Tire

Europe Tire Market Research Report: Forecast (2022-27)

By Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV), Two-Wheeler, Three-Wheeler, Off-the-Road Tire (OTR)), By Demand Category (OEMs, Replacement), Read more

  • Tire
  • Mar 2022
  • 175
  • TR10211

Market Definition

As car owners across Europe are becoming increasingly aware of the importance of timely tire inspection & replacement to ensure utmost safety & excellent driving experience, more and more tire manufacturers are expanding their production facilities in the region. As a result, the tire industry in Europe is expanding at a rapid pace and generating lucrative prospects for the leading tire makers.

Market Insights

The Europe Tire Market is projected to grow at a CAGR of around 5% during the forecast period, i.e., 2022-27. The growth of the market is driven primarily by the increasing sales of vehicles due to the changing living standards and greater inclination of the people toward private vehicle ownership across Europe, i.e., directly impacting the demand for tires. 

Report Coverage Details
Study Period Historical Data: 2017-20
Base Year: 2021
Forecast Period: 2022-27
CAGR(2022-27) 5%
Key Companies Profiled Continental, Bridgestone, Pirelli, Sumitomo, Hankook, Nokian, Cooper, Yokohama, Double Coin, Michelin, Goodyear
Unit Denominations USD Million/Billion

 

Besides, with mounting concerns over the alarming carbon emission levels, governments of different regional countries are encouraging the adoption of Electric Vehicles (EV) and generating growth opportunities for the leading players to manufacture EV-compatible tires, thereby boosting the overall tire industry. 

In addition, the active participation of tire manufacturers in making Ultra-High-Performance (UHP) tires & smart tires are other crucial aspects projected to promote the growth of the tire market across Europe through 2027. 

Moreover, governments of different countries in the region are actively promoting the adoption of a circular economy to tire manufacturers to ensure their production processes employ raw materials with the technical possibility of reducing waste generation and replacing those that challenge recycling. Hence, with all these aspects, the Europe Tire Market is all set to witness lucrative opportunities in the coming years.

Impact of Covid-19 on the Europe Tire Market

The advent of Covid-19 in 2020 had a decelerating effect on most industries across Europe, yet the tire market witnessed catastrophe amidst the crisis. Owing to the severity of the virus, governments of different countries across the region imposed stringent movement restrictions & frequent lockdowns to curb the spread of this dreadful disease, leading to numerous unprecedented challenges for the leading players in Europe's tire industry.

Initially, travel & cross-border trade restrictions affected tire imports & exports, and supply chain disruptions led to a shortage of raw materials like rubber. Moreover, since the transportation & logistics were also affected, delayed or canceled deliveries of pre-produced tires caused a decline in the market growth.

Market Segmentation

Based on the Demand Category:

  • OEM
  • Replacement

Amongst both, the Replacement demand category dominated the Europe Tire market with the largest share in previous years, and the same trend is likely during the forecast period. It owes principally to the abundant availability of aged & second-hand vehicles in different countries across the region, i.e., projecting a constant need for timely inspection, maintenance, repairs, & replacement of tires.

Besides, stringent government regulations for vehicle & passenger safety to periodically replace tires, which must have a minimum tread depth of at least 3mm, are augmenting the sales of replacement tires. Moreover, benefits like easy availability, affordability, and an extensive range of options are other prominent aspects promoting the demand for replacement tires and fueling the overall growth of the Europe Tire Market.

Country Landscape

Geographically, the Europe Tire Market expands across:

  • Germany
  • Italy
  • France
  • The United Kingdom
  • Spain
  • Poland
  • The Netherlands
  • Belgium
  • Slovakia
  • Romania
  • Finland
  • Norway
  • Sweden
  • Denmark

Amongst all countries across Europe, France is more likely to dominate the Tire Market with the largest share during 2022-27. It attributes principally to the mounting prevalence of two-wheelers in the country, i.e., augmenting the need for timely tire inspection and repairs & replacement if & as required.

Besides, with the swift improvement in France's economy, changing living standards, and growing private vehicle ownership, the leading players are anticipated to witness lucrative growth opportunities to establish manufacturing units in the country & offer an extensive range of tires in the years to come.

Moreover, the surging internet penetration, coupled with the rapidly expanding e-commerce sector that offers an extensive range of tires with attractive deals, are other crucial aspects projected to promote the growth of the tire industry in France.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Europe Tire Market?
  2. What are the country-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Europe Tire Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Europe Tire Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Europe Tire Market study?

Frequently Asked Questions

A. The Europe Tire Market is projected to grow at a CAGR of around 5% during 2022-27.

A. The mounting inclination toward EV adoption to bring green mobility is a key opportunity for the Europe Tire Market to expand and encourage the leading players in the industry to manufacture EV-compatible tires through 2027.

A. The active participation of tire manufacturers in developing Ultra-high-Performance (UHP) tires is an emerging trend in the Europe Tire Market.

A. The Replacement demand category is anticipated to emerge as an area of remunerative opportunities for the leading players in the Europe Tire Market over the forecast years.

1.      Introduction

1.1.   Research Process

1.2.   Product Overview

1.3.   Market Segmentation

1.4.   Assumptions

2.      Glossary

3.      Executive Summary

4.      Expert Verbatim- What our Experts Say?

5.      Europe Tire Production Overview

6.      Europe Tire Market Analysis, 2017-2027F

6.1.   Market Size & Analysis

6.1.1.Market Revenues

6.1.2.Units Sold

6.2.   Market Share & Analysis

6.2.1.By Vehicle Type

6.2.1.1.  Passenger Car

6.2.1.2.  Light Commercial Vehicle (LCV)

6.2.1.3.  Medium and Heavy Commercial Vehicle (M&HCV)

6.2.1.4.  Two-Wheeler

6.2.1.5.  Three-Wheeler

6.2.1.6.  Off Road Tire (OTR)

6.2.2.By Demand Category

6.2.2.1.  OEMs

6.2.2.2.  Replacement Demand

6.2.3.By Tire Type

6.2.3.1.  Radial

6.2.3.2.  Bias

6.2.4.By Sales Channel

6.2.4.1.  Direct Sales

6.2.4.2.  Online

6.2.4.3.  Dealers/Distributors

6.2.4.4.  Others

6.2.5.By Season

6.2.5.1.  All Season Tires

6.2.5.2.  Winter

6.2.5.3.  Summer Tires

6.2.6.By Rim Size

6.2.6.1.  Upto 12”

6.2.6.2.  12.1” to 15”

6.2.6.3.  15.1” to 18”

6.2.6.4.  18.1” to 20”

6.2.6.5.  20.1” to 22.5”

6.2.6.6.  22.6” to 26”

6.2.6.7.  26.1” to 35”

6.2.6.8.  35.1” to 47”

6.2.6.9.  Above 47”

6.2.7.By Country

6.2.7.1.  Germany

6.2.7.2.  Italy

6.2.7.3.  France

6.2.7.4.  United Kingdom

6.2.7.5.  Spain

6.2.7.6.  Poland

6.2.7.7.  Netherlands

6.2.7.8.  Belgium

6.2.7.9.  Slovakia

6.2.7.10. Romania

6.2.7.11. Finland

6.2.7.12. Norway

6.2.7.13. Sweden

6.2.7.14. Denmark

6.2.7.15. Others

6.2.8.By Leading Companies

6.2.8.1.  Market Share

6.2.8.2.  Strategic Factorial Indexing

6.2.8.3.  Competitors Alignment in Competition Quadrant

6.3.   Europe Market Attractiveness Indexing

6.3.1.By Vehicle Type

6.3.2.By Demand Category

6.3.3.By Tire Type

6.3.4.By Country

6.4.   Germany Tire Market Analysis, 2017-2027F

6.4.1.Market Size & Analysis

6.4.1.1.  Market Revenues

6.4.1.2.  Units Sold

6.4.2.Market Share & Analysis

6.4.2.1.  By Vehicle Type

6.4.2.2.  By Demand Category

6.4.2.3.  By Tire Type

6.4.2.4.  By Sales Channel

6.4.2.5.  By Season

6.4.2.6.  By Rim Size

6.5.   France Tire Market Analysis, 2017-2027F

6.5.1.Market Size & Analysis

6.5.1.1.  Market Revenues

6.5.1.2.  Units Sold

6.5.2.Market Share & Analysis

6.5.2.1.  By Vehicle Type

6.5.2.2.  By Demand Category

6.5.2.3.  By Tire Type

6.5.2.4.  By Sales Channel

6.5.2.5.  By Season

6.5.2.6.  By Rim Size

6.6.   Italy Tire Market Analysis, 2017-2027F

6.6.1.Market Size & Analysis

6.6.1.1.  Market Revenues

6.6.1.2.  Units Sold

6.6.2.Market Share & Analysis

6.6.2.1.  By Vehicle Type

6.6.2.2.  By Demand Category

6.6.2.3.  By Tire Type

6.6.2.4.  By Sales Channel

6.6.2.5.  By Season

6.6.2.6.  By Rim Size

6.7.   United Kingdom Tire Market Analysis, 2017-2027F

6.7.1.Market Size & Analysis

6.7.1.1.  Market Revenues

6.7.1.2.  Units Sold

6.7.2.Market Share & Analysis

6.7.2.1.  By Vehicle Type

6.7.2.2.  By Demand Category

6.7.2.3.  By Tire Type

6.7.2.4.  By Sales Channel

6.7.2.5.  By Season

6.7.2.6.  By Rim Size

6.8.   Spain Tire Market Analysis, 2017-2027F

6.8.1.Market Size & Analysis

6.8.1.1.  Market Revenues

6.8.1.2.  Units Sold

6.8.2.Market Share & Analysis

6.8.2.1.  By Vehicle Type

6.8.2.2.  By Demand Category

6.8.2.3.  By Tire Type

6.8.2.4.  By Sales Channel

6.8.2.5.  By Season

6.8.2.6.  By Rim Size

6.9.   Poland Tire Market Analysis, 2017-2027F

6.9.1.Market Size & Analysis

6.9.1.1.  Market Revenues

6.9.1.2.  Units Sold

6.9.2.Market Share & Analysis

6.9.2.1.  By Vehicle Type

6.9.2.2.  By Demand Category

6.9.2.3.  By Tire Type

6.9.2.4.  By Sales Channel

6.9.2.5.  By Season

6.9.2.6.  By Rim Size

6.10. Netherlands Tire Market Analysis, 2017-2027F

6.10.1. Market Size & Analysis

6.10.1.1. Market Revenues

6.10.1.2. Units Sold

6.10.2. Market Share & Analysis

6.10.2.1. By Vehicle Type

6.10.2.2. By Demand Category

6.10.2.3. By Tire Type

6.10.2.4. By Sales Channel

6.10.2.5. By Season

6.10.2.6. By Rim Size

6.11. Romania Tire Market Analysis, 2017-2027F

6.11.1. Market Size & Analysis

6.11.1.1. Market Revenues

6.11.1.2. Units Sold

6.11.2. Market Share & Analysis

6.11.2.1. By Vehicle Type

6.11.2.2. By Demand Category

6.11.2.3. By Tire Type

6.11.2.4. By Sales Channel

6.11.2.5. By Season

6.11.2.6. By Rim Size

6.12. Belgium Tire Market Analysis, 2017-2027F

6.12.1. Market Size & Analysis

6.12.1.1. Market Revenues

6.12.1.2. Units Sold

6.12.2. Market Share & Analysis

6.12.2.1. By Vehicle Type

6.12.2.2. By Demand Category

6.12.2.3. By Tire Type

6.12.2.4. By Sales Channel

6.12.2.5. By Season

6.12.2.6. By Rim Size

6.13. Slovakia Tire Market Analysis, 2017-2027F

6.13.1. Market Size & Analysis

6.13.1.1. Market Revenues

6.13.1.2. Units Sold

6.13.2. Market Share & Analysis

6.13.2.1. By Vehicle Type

6.13.2.2. By Demand Category

6.13.2.3. By Tire Type

6.13.2.4. By Sales Channel

6.13.2.5. By Season

6.13.2.6. By Rim Size

6.14. Romania Tire Market Analysis, 2017-2027F

6.14.1. Market Size & Analysis

6.14.1.1. Market Revenues

6.14.1.2. Units Sold

6.14.2. Market Share & Analysis

6.14.2.1. By Vehicle Type

6.14.2.2. By Demand Category

6.14.2.3. By Tire Type

6.14.2.4. By Sales Channel

6.14.2.5. By Season

6.14.2.6. By Rim Size

6.15. Finland Tire Market Analysis, 2017-2027F

6.15.1. Market Size & Analysis

6.15.1.1. Market Revenues

6.15.1.2. Units Sold

6.15.2. Market Share & Analysis

6.15.2.1. By Vehicle Type

6.15.2.2. By Demand Category

6.15.2.3. By Tire Type

6.15.2.4. By Sales Channel

6.15.2.5. By Season

6.15.2.6. By Rim Size

6.16. Norway Tire Market Analysis, 2017-2027F

6.16.1. Market Size & Analysis

6.16.1.1. Market Revenues

6.16.1.2. Units Sold

6.16.2. Market Share & Analysis

6.16.2.1. By Vehicle Type

6.16.2.2. By Demand Category

6.16.2.3. By Tire Type

6.16.2.4. By Sales Channel

6.16.2.5. By Season

6.16.2.6. By Rim Size

6.17. Sweden Tire Market Analysis, 2017-2027F

6.17.1. Market Size & Analysis

6.17.1.1. Market Revenues

6.17.1.2. Units Sold

6.17.2. Market Share & Analysis

6.17.2.1. By Vehicle Type

6.17.2.2. By Demand Category

6.17.2.3. By Tire Type

6.17.2.4. By Sales Channel

6.17.2.5. By Season

6.17.2.6. By Rim Size

6.18. Denmark Tire Market Analysis, 2017-2027F

6.18.1. Market Size & Analysis

6.18.1.1. Market Revenues

6.18.1.2. Units Sold

6.18.2. Market Share & Analysis

6.18.2.1. By Vehicle Type

6.18.2.2. By Demand Category

6.18.2.3. By Tire Type

6.18.2.4. By Sales Channel

6.18.2.5. By Season

6.18.2.6. By Rim Size

7.      Disclaimer

Europe Tire Market Segmentation