According to MarkNtel Advisors study the Europe Tire Market is projected to grow at around 5% CAGR during the forecast period, i.e., 2023-28.
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Key Findings of the Study: Europe Tire market
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.
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Scope of the Report and Europe Tire Market Segmentation:
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
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- 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
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- 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
Europe Tire Market Competitive Landscape
- Michelin
- Continental
- Bridgestone
- Pirelli
- Dunlop
- Hankook
- Goodyear
- Nokian
- Yokohama
- Cooper Tires
- Kumho
- Vredestein
- Toyo
- Others
Europe Tire Market Development:
- December 2022: Toyo Tire Corporation officially opened a new passenger vehicle tire factory in the Municipality of Indjija, the Republic of Serbia.
- November 2022: Nokian Tyres announced plans to invest in a new zero-carbon emission passenger car tire production factory in Oradea in the North-West of Romania, near the Hungarian border, with an annual capacity of 6 million tires and an expansion potential in the future.
- May 2022: Goodyear Tire & Rubber Company officially opened its new manufacturing facility in Dudelange, Luxembourg, following a $77 million investment in its Industry 4.0 digital manufacturing process.
Geographical Analysis:
By Country
- The UK
- Germany
- France
- Italy
- Spain
- Poland
- The Netherlands
- Romania
- Belgium
- Slovakia
- Finland
- Norway
- Sweden
- Denmark
- Rest of Europe
Of all countries across Europe, France is more likely to dominate the Tire Market with the largest share during 2023-28.
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