Dublin, Dec. 17, 2020 (GLOBE NEWSWIRE) -- The "Europe Tire Market, by Vehicle Type (PC, LCV, M&HCV, 2W & OTR), by Online Vs Offline, by Radial Vs Bias, by Demand Category (OEM Vs Replacement), by Country, Competition, Forecast & Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The European Tire Market stood at USD 409.53 Billion in 2019 and is projected to reach USD 450.56 Billion by 2025, on account of increasing tire production capacity, growing vehicle sales and expanding automobile fleet in the region.
Moreover, increasing per capita income and subsidies on the purchase of electric vehicles are few of the other factors that are expected to aid the tire market in Europe in the coming years.
Tire sales plummeted by more than 10% in the first half of 2020; but initiatives taken by the countries present in the region in the form of stimulus package are expected to benefit automotive sector. For instance, on 26 May 2020, French government announced stimulus package worth USD 9.47 billion to rescue the automotive industry and boost electric vehicle sales; thereby, driving the tire market through 2025.
The European Tire Market can be segregated based on vehicle type, online vs offline, radial vs bias, and demand category. Based on radial vs bias, the tire market is dominated by radial tire segment with market share of 91.53% in 2019 and the trend is likely to continue through 2025. Radial tires offer several benefits over bias tires, such as better mileage, lesser fuel consumption and better road grip. Thus, consumers in the country mostly prefer radial tires.
The major players operating in the European Tire Market include Compagnie Generale des Etablissements Michelin, Goodyear Dunlop Tires Europe B.V., Continental Aktiengesellschaft, Bridgestone Europe NV/SA, Pirelli & C. S.p.A., Nokian Tyres Plc, Yokohama Europe GmbH, Hankook Reifen Deutschland GmbH, Apollo Vredestein B.V., and Cooper Tire & Rubber Company Europe Limited.
Major companies are developing advanced technologies in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021-2025
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors Influencing Purchase Decision
4.2. Brand Recall
4.3. Preferred Point of Sale Channel for Replacement Demand
4.4. Brand Satisfaction
5. Europe Tire Production Overview
6. Europe Tire Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Vehicle Type (PC, LCV, M&HCV, 2W & OTR)
6.2.2. By Country
6.2.3. By Company
6.2.4. By Online Vs Offline
6.2.5. By Radial Vs Bias
6.2.6. By Demand Category (OEM Vs Replacement)
6.3. Market Attractiveness Index - By Vehicle Type
6.4. Market Attractiveness Index - By Country
6.5. Europe: Country Analysis
6.5.1. Germany Tire Market Outlook
6.5.2. France Tire Market Outlook
6.5.3. Spain Tire Market Outlook
6.5.4. Italy Tire Market Outlook
6.5.5. United Kingdom Tire Market Outlook
6.5.6. Poland Tire Market Outlook
6.5.7. Netherlands Tire Market Outlook
6.5.8. Belgium Tire Market Outlook
6.5.9. Slovakia Tire Market Outlook
6.5.10. Romania Tire Market Outlook
6.5.11. Hungary Tire Market Outlook
6.5.12. Slovenia Tire Market Outlook
7. Impact of COVID-19 on Europe Tire Market
8. Market Dynamics
9. Market Trends & Developments
10. Competitive Landscape
10.1. Compagnie Generale des Etablissements Michelin
10.2. Goodyear Dunlop Tires Europe B.V.
10.3. Continental Aktiengesellschaft
10.4. Bridgestone Europe NV/SA
10.5. Pirelli & C. S.p.A.
10.6. Nokian Tyres Plc
10.7. Yokohama Europe Gmbh
10.8. Hankook Reifen Deutschland GmbH
10.9. Apollo Vredestein B.V.
10.10. Cooper Tire & Rubber Company Europe Limited
11. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/380ztt
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