The European Tire Market is projected to witness a CAGR of 2.1% during the forecast period (2020-2026). Stable vehicle sales, high expenditure on vehicles, and their accessories are some of the major factors for the growth of the market in the region. Growth in the demand for high-performance tires is another major factor for the growth of the market in the region. Increasing total vehicle fleet is also one of the major factors for market growth in the region. As per the European Automobile Manufacturers Association (ACEA), the total vehicle fleet of Europe was more than 386 million as compared to nearly 379 million in 2017.
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Europe’s tire market is segmented based on vehicle type, road application, construction, tire type, and sales channel. By vehicle type, the market is further segmented into passenger cars, light & medium commercial vehicles, heavy commercial vehicles, two-wheeler, and others. During the forecast period, passenger car segment expected to maintain a major market share in the country. As per the ACEA, the passenger vehicle fleet was around 326 million in 2018 whereas the total commercial vehicle fleet was around 55.2 million in 2018.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Europe Tire Market Report Segment
By Vehicle Type
- Passenger Cars
- Light & Medium Commercial Vehicle
- Heavy Commercial Vehicle
- Two-Wheeler
- Other (Construction, Agricultural, Customized Sports)
By Road Application
- All-Season Tire
- Summer Tire
- Winter Tire
- Other
By Construction
- Radial Tire
- Bias Ply Tire
By Tire Type
- Tubeless Tire
- Tubbed Tire
By Sales Channel
- OEM
- Aftermarket
Europe Tire Market Report Segment by Geography
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
The Report Covers
- Comprehensive research methodology of the European Tire market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the European Tire industry.
- Insights about market determinants which are stimulating the European Tire market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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