Europe Tire Market Size, Business Prospects, Forthcoming Developments and Future Investments by Forecast to 2027
According to the latest report by IMARC Group, titled “Europe Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the Europe tire market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Europe tire
market size reached 416 Million Units in 2021. Looking forward, IMARC
Group expects the market to reach 488.7 Million Units by 2027, exhibiting a
growth rate (CAGR) of 2.9% during 2022-2027.
Industry Overview and Application:
A tire is a customized automotive component that is circular in shape and
composed of synthetic or natural rubber compound, silica, carbon black, steel
wire, etc. It is available in various sizes and bias or radial construction
types. Some of the most popular categories of tire models include summer tires,
winter tires, all-season tires, SUV or 4X4 tires, etc. They are designed to
support the weight of a vehicle, absorb road shocks, and provide adequate
traction for acceleration and braking. As a result, these tire variants find
widespread utilization as OEM and replacement parts for passenger, light, and
heavy commercial vehicles across Europe.
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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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| Tire Market in Europe 2022-2027 |
Industry Trends and Drivers:
- The rising consumer preferences for ultra-high-performance tires that offer enhanced durability and reliability are primarily driving the Europe tire market. Besides this, the launch of new products with improved sidewall puncture resistance and high-design cushion for road shock is acting as another significant-growth inducing factor.
- Additionally, the growing presence of prominent tire manufacturing brands, including Pirelli, Michelin, Goodyear, Bridgestone, Continental AG, etc., is also positively influencing the regional market. Moreover, the escalating demand for premium cars, crossover utility vehicles (CUVs), and sports utility vehicles is further stimulating the market across the region.
- Apart from this, the elevating environmental concerns, the introduction of several tire laws by the European Commission, and the increasing need for products compatible with electric and autonomous automobiles are expected to bolster the Europe tire market in the coming years.
Europe Tire Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
- 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 Highlights of the Market Segmentation:
The report has segmented the Europe tire market on the basis of radial Vs bias, end-use, vehicle type, size, distribution channel and country.
Breakup by Radial Vs. Bias:
- Radial
- Bias
Breakup by End-Use:
- OEM
- Replacement
Breakup by Vehicle Type:
- Passenger
Cars
- Light
Commercial Vehicles
- Medium
and Heavy Commercial Vehicles
- Two-Wheelers
- Three-Wheelers
- Off-The-Road
(OTR)
Breakup by Size:
- Passenger
Cars
- Light
Commercial Vehicles
- Medium
and Heavy Commercial Vehicles
- Two-Wheelers
- Off-
The- Road (OTR)
- Three-Wheelers
Breakup by Distribution Channel:
- Offline
- Online
Breakup by Country:
- Germany
- United Kingdom
- Spain
- France
- Italy
- Russia
- Turkey
- Netherlands
- Belgium
- Others
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List of Figures: https://www.imarcgroup.com/request?type=report&id=2192&flag=C
The project report on tire market in Europe covers the following aspects:
- Market Snapshot (Market Performance, Segments, Regional Insights, Covid-19 Impact, and outlook)
- Manufacturing Process
- Project Details, Requirements, and Costs Involved
- Project Economics
- Regulatory Procedures and Approval
- Key Success and Risk Factors
In
case you need any specific business requirements, you can mention the same. We
can customize the report based on the specific needs of the client.
Key highlights of the report:
- Market
Performance (2016-2021)
- Market
Outlook (2022-2027)
- Market
Trends
- Market
Drivers and Success Factors
- Impact
of COVID-19
- Value
Chain Analysis
- 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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