Comprehensive Overview of the Europe Tire Market: Size, Trends, and Growth Forecast for 2023-2028

Markntel Advisors’ report, Europe Tire Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2028, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Europe Tire presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.

Europe Tire Market Industry Research Report & Market Summary:

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.

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Europe Tire Market Dynamics:

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 Market Segmentation Analysis:

According to MarkNtel study the market is segmented into the following categories:

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

Of them all, passenger cars, which include sedans, hatchbacks, SUVs, & sports cars, dominate the Europe Tire Market with the largest share.

By Demand Category

OEM- Market Size & Forecast 2018-2028, Thousand Units
Replacement- Market Size & Forecast 2018-2028, Thousand Units

Here, the Replacement demand category dominated the Europe Tire market with the largest share in previous years, and the same trend is likely during the forecast period.

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
1” to 15”- Market Size & Forecast 2018-2028, Thousand Units
1” to 18”- Market Size & Forecast 2018-2028, Thousand Units
1” to 20”- Market Size & Forecast 2018-2028, Thousand Units
1” to 26”- Market Size & Forecast 2018-2028, Thousand Units
1to 35”- Market Size & Forecast 2018-2028, Thousand Units
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.

Of all countries across Europe, France is more likely to dominate the Tire Market with the largest share during 2023-28. It attributes principally to the country’s rich history in tire manufacturing, the strong presence of tire companies like Michelin, and its innovation in tire technology & sustainable manufacturing practices.

As indicated in the latest market research report published by Markntel Advisors, “Europe Tire Research Report: Forecast (2023-2028)”, this report offers a detailed analysis of the industry, featuring insights into the Europe Tire. It encompasses competitor and geographical analyses, as well as recent advancements in the market.

Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/europe-tire-market.html

Top Companies Operating in the Europe Tire Market:

Michelin
Continental
Bridgestone
Pirelli
Dunlop
Hankook
Goodyear
Nokian
Yokohama
Cooper Tires
Others
Kumho
Vredestein
Toyo
Others.

Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.

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Other Report:

Key Report Highlights:

Market Dimensions & Projections
Pricing Evaluation,
Recent Strategic Moves by Companies,
Primary Stakeholders,
Analysis of Import and Export Trends,
Competitive Landscape Assessment,
Emerging Opportunities,
Market Trends and Indicators

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