Europe Tire Market: Rising Demand and Key Drivers Shaping the Industry
Europe Tire Market: Rising Demand and Key Drivers Shaping the Industry
Europe Tire Market Outlook for 2023-28
Markntel Advisors has conducted a comprehensive study on the Europe Tire Market is projected to grow at around 5% CAGR during the forecast period, i.e., 2023-28. The growth of the market would be propelled mainly 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. 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 & generating lucrative prospects for the leading tire makers, thus enhancing the Europe Tire Market size as well.
In addition, the Europe Tire Market Study highlights the impact of domestic and localized market players, emerging revenue opportunities, strategic market growth analysis, product approvals, product launches, geographic expansions, and technological innovations. The objective of the report is to provide a detailed understanding of the industry, including its features, factors, and elements, along with insights into the regulatory scenario & regional dynamics that may impact market growth.
Key Driver: Ever-Increasing Demand for Replacement Tires to Cater to the Large Vehicle Fleet
Europe has a massive vehicle fleet, which includes passenger cars, commercial vehicles, and two-wheelers. As the number of these vehicles on the road is increasing, so is the need for replacing their tires, mainly due to their wear & tear over time on account of diverse terrains, climates, & driving conditions. Hence, in order to ensure optimal performance, safety, and fuel efficiency, replacement tires are witnessing huge demand in the region and, consequently, driving the Europe Tire Market.
Europe Tire Industry Breakdown: Key Revenue Generating Segments
To facilitate focused analysis, the Europe Tire Market has been divided into different segments, providing shareholders with the opportunity to identify their areas of interest and the most profitable opportunities within the market. By incorporating technical trends, comprehensive analysis of the downstream & upstream value chain, as well as Porter’s five forces analysis, we have diligently forecasted the industry landscape for specific regions/countries, presenting critical pointers for informed decision-making. The segments are as follows:
-By Type of Vehicle
-Passenger Car- Market Size & Forecast 2018-2028, Thousand Units
-Light Commercial Vehicle- Market Size & Forecast 2018-2028, Thousand Units
-Medium & Heavy Commercial Vehicle- Market Size & Forecast 2018-2028, Thousand Units
-Two Wheelers- Market Size & Forecast 2018-2028, Thousand Units
-Off the Road (OTR) Vehicles- Market Size & Forecast 2018-2028, Thousand Units
-By Demand Category
-OEM- Market Size & Forecast 2018-2028, Thousand Units
-Replacement- Market Size & Forecast 2018-2028, Thousand Units
-By Type of Tire
-Radial- Market Size & Forecast 2018-2028, Thousand Units
-Bias- Market Size & Forecast 2018-2028, Thousand Units
-By Sales Channel
-Direct Sales- Market Size & Forecast 2018-2028, Thousand Units
-Multi-Brand Outlets- Market Size & Forecast 2018-2028, Thousand Units
-Exclusive Outlets- Market Size & Forecast 2018-2028, Thousand Units
-Online- Market Size & Forecast 2018-2028, Thousand Units
-By Season
-All Season- Market Size & Forecast 2018-2028, Thousand Units
-Winter- Market Size & Forecast 2018-2028, Thousand Units
-By Price Category
-Budget- Market Size & Forecast 2018-2028, Thousand Units
-Economy- Market Size & Forecast 2018-2028, Thousand Units
-Premium- Market Size & Forecast 2018-2028, Thousand Units
-By Rim Diameter
-Up to 12”- Market Size & Forecast 2018-2028, Thousand Units
-12.1” to 15”- Market Size & Forecast 2018-2028, Thousand Units
-15.1” to 18”- Market Size & Forecast 2018-2028, Thousand Units
-18.1” to 20”- Market Size & Forecast 2018-2028, Thousand Units
-20.1” to 26”- Market Size & Forecast 2018-2028, Thousand Units
-26.1to 35”- Market Size & Forecast 2018-2028, Thousand Units
– 35.1” to 47”- Market Size & Forecast 2018-2028, Thousand Units
-Above 47”- Market Size & Forecast 2018-2028, Thousand Units
-By Country
-The UK
-Germany
-France
-Italy
-Spain
-Poland
-The Netherlands
-Romania
-Belgium
-Slovakia
-Finland
-Norway
-Sweden
-Denmark
-Rest of Europe
Each sections offer valuable insights into the Europe Tire Market. The report includes essential pillars of the industry study, such as drivers, restraints, opportunities, and challenges. The report also provides information on industry overview, specifications, definitions, suppliers, R&D status, cost structure analysis, sources, and technological advancements, potential for improvement, applications, among others.
Competitive Analysis of the Europe Tire Industry
-Michelin
-Continental
-Bridgestone
-Pirelli, Dunlop
-Hankook
-Goodyear
-Nokian
-Yokohama
-Cooper Tires
-Kumho
-Vredestein
-Toyo
-other
Europe Tire Market Research Report Answers the Following Key Questions
- How big is the Europe Tire Market?
- What is the projected growth rate or CAGR of the Europe Tire Market during 2023-28?
- What are the key trends or growth opportunities for the key players in the Europe Tire Market?
- Which ‘segment’ seems promising for companies operating in the Europe Tire Market?
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