Europe Tire Market Trends: Predicted 5% CAGR by 2028, Assessing Size, Share, Demand, and Competitive Analysis

MarkNtel Advisors has recently published "Europe Tire Market Analysis Share, Growth, Demand, Forecast  2028," a comprehensive research report that provides in-depth analysis of various factors driving the industry's growth across different geographic regions. This report offers reliable insights into the historical, current, and projected trends, in the Europe Tire Market, presented through detailed explanations, tables, and figures. It equips stakeholders with valuable knowledge of the industry dynamics, enabling them to strategize effectively before making investment decisions.

The report indicates that the Europe Tire Market is anticipated to experience a CAGR of approximately 5% during the period of 2023-2028. Our analysis encompasses a thorough examination of various environmental factors, economic and social issues, technological advancements, and other relevant aspects that are crucial for stakeholders during decision-making processes. In order to provide a reliable, accurate, and comprehensive understanding of the industry, our analysts have conducted extensive research utilizing tools such as SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis and Porter's Five Forces Analysis.

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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.

Recent Developments

·       On 14 December 2022, Toyo Tire Corporation officially opened a new passenger vehicle tire factory in the Municipality of Indjija, the Republic of Serbia.

·       In 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.

·       On 5 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.

Segmenting Success: Unveiling Opportunities in the Europe Tire Market 2023-2028

The Europe Tire Market, characterized by its fragmented nature and numerous subdivisions, is thoroughly examined in the report. We provide detailed insights on each segment and geographical location, empowering stakeholders and industry leaders to comprehend the market dynamics and devise new strategies and investments. Furthermore, by gaining a deeper understanding of the ebb and flow within each segment, investors can make well-informed decisions and expand their production and revenue streams in the coming years. The report focuses on key market dynamics, including recent developments, trends, demand and supply chain analysis, purchase patterns, and product/service pricing, among others, within the following segments:

Based on 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

Based on Demand Category

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

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

Based on Type of Tire

- Radial- Market Size & Forecast 2018-2028, Thousand Units

- Bias- Market Size & Forecast 2018-2028, Thousand Units

Based on 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

Based on Season

- All Season- Market Size & Forecast 2018-2028, Thousand Units

- Winter- Market Size & Forecast 2018-2028, Thousand Units

Based on 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

Based on 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

Geographically, the Europe Tire Market expands across the following:

- The UK

- Germany

- France

- Italy

- Spain

- Poland

- The Netherlands

- Romania

- Belgium

- Slovakia

- Finland

- Norway

- Sweden

- Denmark

- Rest of Europe

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Unveiling the Competitive Landscape: Insights into Key Players in the Europe Tire Market 2023-2028

The report provides a comprehensive competitive analysis, highlighting a key aspect of the industry—the existing players. Each player is extensively profiled, covering vital aspects such as business overview, demand and supply chain, key strategies, latest news, product launches, pricing catalog, recent developments, revenue generation, stakes and investments, and trends. These insights aim to assist stakeholders in diversifying and strategizing their investments and participation in the Europe Tire Market, ultimately seeking substantial revenue generation over the forecasted years.

- Michelin

- Continental

- Bridgestone

- Pirelli

- Dunlop

- Hankook

- Goodyear

- Nokian

- Yokohama

- Cooper Tires

- Others

About MarkNtel Advisors

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.

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