Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Europe Tire Market, By Vehicle Type (Passenger Car, Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, Two- Wheeler, and OTR), By Demand Category (OEM & Replacement), By Tire Construction Type (Radial & Bias), By Rim Size (Up to 19”, 20”-25” & Above 25”), By Sales Channel (Online & Offline), By Country (Germany, Russia, France, Spain, Italy, United Kingdom, Poland, Netherland, Belgium, Slovakia, Hungary, Romania and Rest of Europe), Competition, Forecast & Opportunities, 2027” under Automotive Market Research Reportscategory. The Tire Market Database in Europe is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Europe Tire Market is anticipated to grow with a CAGR of 3.84% during the forecast period, 2023-2027, to achieve a market value of USD57,300.78 million by 2027. The market growth is majorly driven by the increasing sales of automobiles in European countries. The growing number of passenger cars and light commercial vehicles for regular transportation and commute further drives the growth of the Europe tire market in the upcoming five years. Moreover, the surging demand for replacement tires for personal vehicles also supports the growth of the Europe tire market through 2027.
End use industries like agricultural industry, construction industry, logistics industry, etc., make use of tractors, trucks, commercial vehicles, which is aiding the growth of the Europe tire market in the next five years. Demand for tires is also increasing due to adverse weather conditions, erratic currents of air moving over the Atlantic, ice-cold weather, and the wet springs increase the demand for all-weather tires across the continent, thereby substantiating the growth of the Europe tire market in the forecast years. Furthermore, increasing adoptions of green tires, with environment-friendly products that satisfy the tires' stringent regulations and automobile industrial standards, also aid the growth of the Europe tire market in the forecast period.
The Europe tire market is segmented by vehicle type, demand category, tire construction type, rim size, sales channel, country analysis, and competitional landscape. The market is bifurcated on vehicle type into passenger cars, light commercial vehicles, medium & heavy commercial vehicles, two-wheelers, and OTR. Passenger cars are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on account of the increasing sales of passenger cars. Surge in demand for personal vehicles and increasing demand for replacement vehicle parts further facilitates the growth of the segment along with the Europe tire market in the next five years.
Compagnie Générale des Établissements Michelin SCA, Continental AG, Pirelli & C. S.p.A., Bridgestone Europe NV/SA, and Goodyear Tire & Rubber Company are the leading five players operating in the Europe tire market. Other companies include Kumho Tire Europe GmbH, Nokian Tyres plc., Cooper Tire & Rubber Co Europe, Yokohama Europe GmbH, Hankook Tire & Technology Co., Ltd., etc. that are also flourishing in the regional market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
To analyze the market size of Europe tire market from 2017 to 2021.
To estimate and forecast the market size of Europe tire market from 2022 to 2027 and growth rate until 2027.
To classify and forecast Europe tire market based on vehicle type, demand category, tire construction type, rim size, sales channel, country analysis, and competitional landscape.
To identify dominant country or segment in the Europe tire market.
To identify drivers and challenges for Europe tire market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Europe tire market.
To identify and analyze the profile of leading players operating in Europe tire market.
To identify key sustainable strategies adopted by market players in Europe tire market.
Key Target Audience:
Manufacturers, suppliers, distributors and other stakeholders
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to tire
Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Europe tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Europe Tire Market, By Vehicle Type:
Light Commercial Vehicle
Medium & Heavy Commercial Vehicle
Europe Tire Market, By Demand Category:
Europe Tire Market, By Tire Construction Type:
Europe Tire Market, By Rim Size:
Up to 19''
Europe Tire Market, By Sales Channel:
Europe Tire Market, By Country:
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