The European 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
Speak directly to the analyst to clarify any post sales queries you may have.
10% Free customizationThis report comes with 10% free customization, enabling you to add data that meets your specific business needs.
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 European 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 European 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 European Tire Market in the forecast period.
The European 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 European 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 European 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 the European Tire Market from 2017 to 2021
- To estimate and forecast the market size of the European Tire Market from 2022 to 2027 and growth rate until 2027
- To classify and forecast the European 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 European Tire Market
- To identify drivers and challenges for the European Tire Market
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the European Tire Market
- To identify and analyze the profile of leading players operating in the European Tire Market
- To identify key sustainable strategies adopted by the market players in the European Tire Market
The publisher performed both primary as well as exhaustive secondary research for this study. Initially, the publisher sourced a list of manufacturers across the region. Subsequently, the publisher conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the publisher could include the manufacturers which could not be identified due to the limitations of secondary research. The publisher Research analyzed the manufacturers, distribution channels and presence of all major players across the Europe region.
The publisher calculated the market size of the European Tire Market by using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The publisher Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the publisher.
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 the market opportunities.
Report Scope:
In this report, the European 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:
- Passenger car
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- Two- Wheeler
- OTR
Europe Tire Market, By Demand Category:
- Replacement
- OEM
Europe Tire Market, By Tire Construction Type:
- Radial
- Bias
Europe Tire Market, By Rim Size:
- Up to 19''
- 20"- 25''
- Above 25''
Europe Tire Market, By Sales Channel:
- Offline
- Online
Europe Tire Market, By Country:
- Germany
- Russia
- France
- Spain
- Italy
- United Kingdom
- Poland
- Netherlands
- Belgium
- Slovakia
- Hungary
- Romania
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the European Tire Market
Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Compagnie Générale des Établissements Michelin SCA
- Continental AG
- Pirelli & C. S.p.A.
- Bridgestone Europe NV/SA
- Goodyear Tire & Rubber Company
- Kumho Tire Europe GmbH
- Nokian Tyres Plc.
- Cooper Tire & Rubber Co Europe
- Yokohama Europe GmbH
- Hankook Tire & Technology Co.,Ltd.