Europe Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Europe Tire Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The Europe tire market size reached 423.6 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 503.5 Million Units by 2028, exhibiting a growth rate (CAGR) of 3.11% during 2023-2028.

The growth of the Europe Tire market can be attributed to the rising consumer demand for ultra-high-performance tires with high durability and reliability. Further, the growing need for automobile tires with increased sidewall puncture resistance, and high-design cushion for road-shock have also augmented the market growth in the region. Additionally, the high consumer living standards supported by their increasing per capita expenditures on luxury cars have propelled the demand for advanced and premium-quality tires. Moreover, the rising disposable income levels of the European middle-class population have significantly increased the demand for crossover utility vehicles (CUVs) and sport utility vehicles (SUVs), thereby catalyzing the market growth. Apart from this, growing presence of major tire manufacturing brands such as Continental AG, Michelin, Bridgestone, Goodyear, Pirelli, etc. is also driving the market. Moreover, due to the rising environmental concerns towards the high vehicular pollution level coupled with the launch of several programs by the European Commission for controlling pollution have led to the introduction of electric vehicles. On account of this, there is a high demand for compatible and durable tires for electric and autonomous vehicles.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Europe tire market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on radial vs bias, end-use, vehicle type, size and distribution channel.

Breakup by Radial Vs Bias:

Radial
Bias

Breakup by End-Use:

OEM
Replacement

Breakup by Vehicle Type:

Passenger Cars
Light Commercial Vehicles
Medium and Heavy Commercial Vehicles
Two-Wheeler
Off-The-Road (OTR)
Three- Wheelers

Breakup by Size:

Passenger Cars
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Light Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Medium and Heavy Commercial Vehicles
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Two Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Off- The- Road (OTR)
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range
Three-Wheelers
Market Breakup by Rim Size
Market Breakup by Tire Size
Market Breakup by Price Range

Breakup by Distribution Channel:

Offline
Online

Breakup by Country:

Germany
United Kingdom
Spain
France
Italy
Russia
Turkey
Netherlands
Belgium
Others

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being MICHELIN, Bridgestone Corporation, Continental AG, Goodyear Tire & Rubber Company, Sumitomo Corporation, Pirelli Tyre S.p.A., Yokohama Tire Corporation, Hankook Tire Co., Ltd., Toyo Tire Corporation, and KUMHO TIRE CO., INC.

Key Questions Answered in This Report:


How has the Europe tire market performed so far and how will it perform in the coming years?
What are the key segments in the Europe tire industry?
What has been the impact of COVID-19 on the Europe tire industry?
What are the key end-use segments in the Europe tire industry?
What are the key vehicle types in the Europe tire industry?
What are the key distribution channels in the Europe tire industry?
What is the regional breakup of the Europe tire industry?
What are the various stages in the value chain of the Europe tire industry?
What are the key driving factors and challenges in the Europe tire industry?
What is the structure of the Europe tire industry and who are the key players?
What is the degree of competition in the Europe tire industry?