Europe Tire (Tyre) Market Growth, Trends, Revenue, Share, Size, Challenges and Future Competition
Europe Tire (Tyre) Market Size- By Vehicle Type, By Demand Category, By Tire Construction Type, By Rim Size, By Sales Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2023 | Report ID: AMIN23102 | Pages: 1 - 156 | Formats*: |
| Category : Automotive & Transportation | |||
Europe Tire (Tyre) Market Overview
According to SPER Market Research, the Europe Tire (Tyre) Market is estimated to reach USD 0.59 billion by 2033 with a CAGR 3.35%.
Tyres are essential for vehicle performance and safety. They surround the wheels and provide a secure connection to the road. Tyres support the weight of the vehicle, provide traction, and absorb shocks. Their tread patterns boost grip, channel water away, and improve wet-surface driving. Tyres are made of natural and synthetic rubber and have fabric layers, steel belts, and other materials for strength and stability. The outer layer, the tread, provides traction and durability. Tyre care is critical, which includes maintaining proper pressure, monitoring tread depth, and rotating tyres. Neglecting maintenance can have a negative impact on handling, fuel efficiency, and tyre wear. Regular maintenance enhances tyre life and guarantees safer driving.
Exploring the Growth Drivers of the Europe Tire (Tyre) Industry
The Europe tire (tyre) market is growing as a result of numerous important causes. First of all, the rising car industry is important. The need for tyres grows as more people buy cars and other vehicles. Tyres are an important component of cars because they ensure safe and efficient transportation. This rising demand drives up tyre production and sales in Europe. Furthermore, there is an increasing emphasis on safety in the tyre industry. Both vehicle makers and buyers are concerned about safety. Tyres are essential for traction, stability, and control on the road. With stronger road safety laws and growing consumer awareness, there is a greater need for high-quality tyres that provide improved grip, handling, and braking. To meet these standards, tyre manufacturers are producing tyres with enhanced safety features.
What challenges does the Europe Tire (Tyre) Market face?
The Europe tyre market is facing operating and growth challenges. Many tyre producers try to attract customers by enhancing quality and offering reasonable rates. Inflation and changes in consumer expenditure can have an impact on tyre demand. Environmental rules necessitate environmentally friendly tyres, which can be pricey for producers. Tyres must stay up with increasing standards as car technology advances. Consumer preferences, such as sustainability and certain performance characteristics, also have an impact on the market. Tyre firms must innovate, adapt to changes, and spend in research and development to prosper. Understanding these problems allows students to obtain a more comprehensive understanding of the tyre market.
In what ways has the COVID-19 pandemic affected Europe Tire (Tyre) Market?
The COVID-19 epidemic has had a substantial influence on several businesses around the world, including the Europe tyre market. During the peak of the epidemic, the tyre business in Europe, like many others, experienced disruptions in production, supply networks, and demand. The temporary shutdown of manufacturing facilities and disruptions in the supply chain were substantial consequences on the European tyre market. Government-imposed lockdowns and limitations to control the spread of the virus led in plant shutdowns and lowered production capacity. This reduced the market availability of tyres and contributed to supply constraints.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Vehicle Type, By Demand Category, By Tire Construction Type, By Rim Size, By Sales Channel. |
| Regions covered | Germany, France, UK, Italy, Russia, Rest of Europe. |
| Companies Covered | Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Hankook Tire Co. Ltd, KUMHO Tire Co, MICHELIN, Pirelli Tyre S.p.A, Sumitomo Corporation, Toyo Tire Corporation, Yokohama Tire Corporation. |
Key Target Audience
- Automotive Manufacturers
- Automotive Service Centers
- Commercial Fleet Operators
- Individual Consumers
- Tire Retailers and Distributors
Europe Tire (Tyre) Market Segmentation:
1. By Vehicle Type:
- Europe Tire (Tyre) Market Value Share and Forecast, By Vehicle Type, 2023-2033
- Light Commercial Vehicle
- Medium & Heavy Commercial Vehicle
- OTR
- Passenger Car
- Two-Wheeler
2. By Demand Category:
- Europe Tire (Tyre) Market Value Share and Forecast, By Demand Category 2023-2033
- OEM
- Replacement
3. By Tire Construction Type:
- Europe Tire (Tyre) Market Value Share and Forecast, By Tire Construction Type, 2023-2033
- Bias
- Radial
4. By Rim Size:
- Europe Tire (Tyre) Market Value Share and Forecast, By Rim Size, 2023-2033
- Up to 19â€
- 20 – 25â€
- Above 25
5. By Region:
- Germany
- France
- UK
- Italy
- Russia
- Rest Of Europe
Key Topics Covered in the Report
- Europe Tire (Tyre) Market Size (FY’2023-FY’2033)
- Overview of Europe Tire (Tyre) Market
- Segmentation of Europe Tire (Tyre) Market By Vehicle Type (Light Commercial Vehicle, Medium & Heavy Commercial Vehicle, OTR, Passenger Car, Two-Wheeler)
- Segmentation of Europe Tire (Tyre) Market By Demand Category (OEM, Replacement)
- Segmentation of Europe Tire (Tyre) Market By Tire Construction Type ( Bias, Radial)
- Segmentation of Europe Tire (Tyre) Market By Rim Size ( Up to 19â€, 20 – 25â€, Above 25)
- Segmentation of Europe Tire (Tyre) Market By Sales Channel (Offline, Online)
- Statistical Snap of Europe Tire (Tyre) Market
- Growth Analysis of Europe Tire (Tyre) Market
- Problems and Challenges in Europe Tire (Tyre) Market
- Competitive Landscape in the Europe Tire (Tyre) Market
- Impact of COVID-19 and Demonetization on Europe Tire (Tyre) Market
- Details on Recent Investment in Europe Tire (Tyre) Market
- Competitive Analysis of Europe Tire (Tyre) Market
- Key Players in the Europe Tire (Tyre) Market
- SWOT Analysis of Europe Tire (Tyre) Market
- Europe Tire (Tyre) Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Europe Tire (Tyre) Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Europe Tire (Tyre) Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Tire (Tyre) Market
7. Europe Tire (Tyre) Market, By Vehicle Type (USD Million)
7.1. Europe Tire (Tyre) Market Value Share and Forecast, By Vehicle Type, 2023-20337.2. Light Commercial Vehicle7.3. Medium & Heavy Commercial Vehicle7.4. OTR7.5. Passenger Car7.6. Two-Wheeler
8. Europe Tire (Tyre) Market, By Demand Category (USD Million)
8.1. Europe Tire (Tyre) Market Value Share and Forecast, By Demand Category 2023-20338.2. OEM8.3. Replacement
9. Europe Tire (Tyre) Market, By Tire Construction Type (USD Million)
9.1. Europe Tire (Tyre) Market Value Share and Forecast, By Tire Construction Type, 2023-20339.2. Bias9.3. Radial
10. Europe Tire (Tyre) Market, By Rim Size (USD Million)
10.1. Europe Tire (Tyre) Market Value Share and Forecast, By Rim Size, 2023-203310.2. Up to 19â€10.3. 20 – 25â€10.4. Above 25
11. Europe Tire (Tyre) Market, By Sales Channel (USD Million)
11.1. Europe Tire (Tyre) Market Value Share and Forecast, By Sales Channel, 2023-203311.2. Offline11.3. Online
12. Europe Tire (Tyre) Market Forecast, 2019-2033 (USD Million)
12.1. Europe Tire (Tyre) Market Size and Market Share
13. Europe Tire (Tyre) Market, By Vehicle Type, 2019-2033 (USD Million)
13.1. Europe Tire (Tyre) Market Size and Market Share by Vehicle Type (2019-2026)13.2. Europe Tire (Tyre) Market Size and Market Share by Vehicle Type (2027-2033)
14. Europe Tire (Tyre) Market, By Demand Category, 2019-2033 (USD Million)
14.1. Europe Tire (Tyre) Market Size and Market Share by Demand Category (2019-2026)14.2. Europe Tire (Tyre) Market Size and Market Share by Demand Category (2027-2033)
15. Europe Tire (Tyre) Market, By Tire Construction Type, 2019-2033 (USD Million)
15.1. Europe Tire (Tyre) Market Size and Market Share by Tire Construction Type (2019-2026)15.2. Europe Tire (Tyre) Market Size and Market Share by Tire Construction Type (2027-2033)
16. Europe Tire (Tyre) Market, By Rim Size, 2019-2033 (USD Million)
16.1. Europe Tire (Tyre) Market Size and Market Share by Rim Size (2019-2026)16.2. Europe Tire (Tyre) Market Size and Market Share by Rim Size (2027-2033)
17. Europe Tire (Tyre) Market, By Sales Channel, 2019-2033 (USD Million)
17.1. Europe Tire (Tyre) Market Size and Market Share by Sales Channel (2019-2026)17.2. Europe Tire (Tyre) Market Size and Market Share by Sales Channel (2027-2033)
18. Europe Tire (Tyre) Market, By Region, 2019-2033 (USD Million)
18.1. Europe Tire (Tyre) Market Size and Market Share by Region (2019-2026)18.2. Europe Tire (Tyre) Market Size and Market Share by Region (2027-2033)18.3. Germany18.4. France18.5. UK18.6. Italy18.7. Russia18.8. Rest Of Europe
19. Company Profile
19.1. Bridgestone Corporation
19.1.1. Company details19.1.2. Financial outlook19.1.3. Product summary19.1.4. Recent developments
19.2. Continental AG
19.2.1. Company details19.2.2. Financial outlook19.2.3. Product summary19.2.4. Recent developments
19.3. Goodyear Tire & Rubber Company
19.3.1. Company details19.3.2. Financial outlook19.3.3. Product summary19.3.4. Recent developments
19.4. Hankook Tire Co. Ltd
19.4.1. Company details19.4.2. Financial outlook19.4.3. Product summary19.4.4. Recent developments
19.5. KUMHO TIRE Co
19.5.1. Company details19.5.2. Financial outlook19.5.3. Product summary19.5.4. Recent developments
19.6. MICHELIN
19.6.1. Company details19.6.2. Financial outlook19.6.3. Product summary19.6.4. Recent developments
19.7. Pirelli Tyre S.p.A
19.7.1. Company details19.7.2. Financial outlook19.7.3. Product summary19.7.4. Recent developments
19.8. Sumitomo Corporation
19.8.1. Company details19.8.2. Financial outlook19.8.3. Product summary19.8.4. Recent developments
19.9. Toyo Tire Corporation
19.9.1. Company details19.9.2. Financial outlook19.9.3. Product summary19.9.4. Recent developments
19.10. Yokohama Tire Corporation
19.10.1. Company details19.10.2. Financial outlook19.10.3. Product summary19.10.4. Recent developments
19.11. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Tire (Tyre) Market is projected to reach USD 0.59 billion by 2033, growing at a CAGR of 3.35% during the forecast period.
Europe Tire (Tyre) Market grew in market size from 2022. The Market is expected to reach USD 0.59 billion by 2033, at a CAGR of 3.35% during the forecast period.
Europe Tire (Tyre) Market CAGR of 3.35% during the forecast period.
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Europe Tire (Tyre) Market size is USD 0.59 billion from 2023 to 2033.
Europe Tire (Tyre) Market Segment is covered By Vehicle Type, By Demand Category, By Tire Construction Type, By Rim Size, By Sales Channel.
The Europe region is anticipated to have the highest market share in the Europe Tire (Tyre) Market.
The key players in the market include Companies Covered Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Hankook Tire Co. Ltd, KUMHO Tire Co, MICHELIN, Pirelli Tyre S.p.A, Sumitomo Corporation, Toyo Tire Corporation, Yokohama Tire Corporation.
The need for tyres grows as more people buy cars and other vehicles. Tyres are an important component of cars because they ensure safe and efficient transportation. This rising demand drives up tyre production and sales in Europe.
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