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PROPERTY:

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Ever thought about what a multimillion pound budget would buy you?

European Tire Market Report 2021: Market is Projected to be Valued at $67.73 Billion by 2026, from $46.02 Billion in 2020

Research and Markets
·4-min read

Dublin, July 30, 2021 (GLOBE NEWSWIRE) -- The "Europe Tyre (Tire) Market & Volume by New Vehicle, Replacement, Region, Company Analysis, Forecast" report has been added to ResearchAndMarkets.com's offering.

Europe Tire Market is projected to be valued at US$ 67.73 Billion by 2026, from US$ 46.02 Billion in 2020, growing at a CAGR of 6.65%

The automotive market in Europe is one of the largest markets globally. The region is home to many global automobile part manufacturers. Consequently, owing to the growth of the automotive industry and the high tire replacement rate in Europe has fostered the development of the tyre market.

Further, in the coming years, the tyre market in the region is proposed to register remarkable growth due to the influence of new technologies, such as electric and autonomous vehicles, an extension of tariff wars between the European countries. The changing preferences of younger generation consumers coupled with solid domestic production also tend to boom the market.

In the region, the United Kingdom and Germany have farms with more than 1,000 hectares, on mediocre, comprising 20% of the used farming area in the country. On the converse, in countries such as the Netherlands and Finland, the average size of a farm is 150 hectares.

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Therefore, the demand for replacement tyres is more in countries such as Germany, the United Kingdom, and France. Farm consolidation necessitates fertilizing and planting machinery to obtain sufficient and proper fertilizing of the crops in larger land structures, thereby facilitating the demand for agricultural tyres.

Additionally, in Europe, the high consumer living standards sustained by their increasing per capita investments in a new vehicle (Car, LCV, MCV, HCV) have driven the demand for advanced and premium-quality tyres.

Besides, the growing disposable income levels of the European middle-class population have significantly enhanced the need for crossover utility vehicles (CUVs) and sport utility vehicles (SUVs), whereby catalyzing the growth of the customer replacement tyre market.

The major players operating in the European tyre market include Bridgestone Europe NV/SA, Michelin, Continental AG, Sumitomo Rubber Industries Ltd., And Yokohama Rubber Co. Ltd.

Furthermore, the major companies are also forming advanced technologies to stay relevant in the market. Other competitive strategies include mergers & acquisitions.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges

5. Europe Tyre Market

6. Segments - Europe Tyre Market
6.1 New Vehicle Tyre Analysis
6.1.1 Market
6.1.2 Volume
6.2 Replacement Tyre Analysis (Top 8 Countries)
6.2.1 Market
6.2.2 Volume
6.2.3 Consumer Replacement Tyre
6.2.4 Truck & Bus Replacement Tyre
6.2.5 Agriculture Replacement Tyre
6.2.6 Motor Cycle Replacement Tyre

7. Share Analysis
7.1 Market Share Analysis
7.1.1 New Vehicle Tyre (Car, LCV, MCV, HCV)
7.1.2 Replacement Tyre by Type (Top 8 Countries)
7.1.2.1 Consumer Replacement Tyre by Countries (Car, SUVs and LCV)
7.1.2.2 Truck & Bus Replacement Tyre by Countries
7.1.2.3 Agriculture Replacement Tyre by Countries
7.1.2.4 Motor Cycle Replacement Tyre by Countries
7.2 Volume Share Analysis

8. New Vehicle Tyre Analysis
8.1 Passenger Car
8.1.1 Market
8.1.2 Volume
8.2 Light Commercial Vehicle
8.3 Medium Commercial Vehicle
8.4 Heavy Commercial Vehicle

9. Poland
9.1 Consumer Replacement Tyre (Car, SUVs and LCV)
9.1.1 Market
9.1.2 Volume
9.2 Truck & Bus Replacement Tyre
9.3 Agriculture Replacement Tyre
9.4 Motor Cycle Replacement Tyre

10. Germany

11. Spain

12. France

13. United Kingdom

14. Italy

15. Netherlands

16. Turkey

17. Czech Republic

18. Austria

19. Greece

20. Company Analysis

  • Bridgestone Europe NV/SA

  • Michelin

  • Continental AG

  • Sumitomo Rubber Industries Ltd.

  • Yokohama Rubber Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/jgvutk

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900