Europe Tire (Tyre) Market Report 2021-2026: Industry Trends, Share, Size, Growth, Opportunity and Forecast

According to the latest report by IMARC Group, titled “Europe Tire (Tyre) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the europe tire (tyre) market exhibited stable growth during 2015-2020. Looking forward, IMARC Group expects the europe market to grow at a CAGR of 2.8% during 2021-2026.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Tires refer to ring-shaped, pneumatically inflated structures that are placed around the rim of a wheel. They are usually manufactured using wire, rayon, steel, silica, carbon black, and natural or synthetic rubber. They assist in transferring load of the vehicle on the road and offering a gripping surface for traction while serving as a cushion for the wheels. They also aid in absorbing the shock and reducing the impact of vibrations of a moving vehicle. As a result, their use improves road feel and enhances the overall performance of the automobile.

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Europe Tire Market Trends:

The market is primarily driven by the escalating sales of high-performance passenger vehicles and luxury cars in Europe, which has significantly bolstered the demand for good-quality tires with high durability and reliability. The market is further driven by the increasing sales of crossover utility vehicles (CUVs) and sport utility vehicles (SUVs) in the region. There has also been an increasing demand for automobile tires designed with improved sidewall puncture resistance and high-design cushion for road-shock, which is acting as a major growth-inducing factor. Furthermore, several manufacturers have introduced advanced product variants, such as flat-run, ecological and nitrogen-based variants. This, coupled with increasing environmental consciousness and an enhanced focus on sustainable development, is contributing to the market growth. Some of the other factors creating a positive outlook for the market include the increasing sales of electric vehicles and the growing implementation of several governmental regulations aimed to reduce vehicular pollution levels. However, IMARC Group anticipates tire shipments in Europe to decline in 2020, as a result of the coronavirus disease (COVID-19) outbreak, but revive from 2021 onwards.

Europe Tire (Tyre) Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the europe tire (tyre) market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • Michelin
  • Bridgestone Corporation
  • Continental AG
  • Goodyear Tire & Rubber Company
  • Sumitomo Corporation
  • Pirelli C. S.p.A
  • Yokohama Tire Corporation
  • Hankook Tire & Technology Co. Ltd.
  • Toyo Tire Corporation
  • Kumho Tire Co., Ltd.

Key Market Segmentation:

The report has segmented the europe tire (tyre) market on the basis of radial vs. bias, end-use, vehicle type, Size, distribution channel and country.

Breakup by Radial Vs. Bias:

  • Radial
  • Bias

Breakup by End-Use:

  • OEM
  • Replacement

Breakup by Vehicle Type:

  • Passenger Cars
  • Light Commercial Vehicles
  • Medium and Heavy Commercial Vehicles
  • Two-Wheelers
  • Three-Wheelers
  • Off-The-Road (OTR)

Breakup by Size:

  • Passenger Cars
  • Light Commercial Vehicles
  • Medium and Heavy Commercial Vehicles
  • Two-Wheelers
  • Off- The- Road (OTR)
  • Three-Wheelers

Breakup by Distribution Channel:

  • Offline
  • Online

Breakup by Country:

  • Germany
  • United Kingdom
  • Spain
  • France
  • Italy
  • Russia
  • Turkey
  • Netherlands
  • Belgium
  • Others

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/europe-tire-market

Key highlights of the report:            

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Industry Trends
  • Market Drivers and Success Factors
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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