Europe Tire Market: Insights Into Trends, Revenue, And Opportunities From 2017-2027

MANHATTAN, N.Y. - June 1, 2023 - PRLog -- Tire sales in Europe are driven by both end consumers, such as vehicle owners, and Original Equipment Manufacturers (OEM) that produce vehicles across the region. Consumer demand contributes to tire sales in the replacement market, while OEMs generate demand for tires during vehicle manufacturing. Passenger cars and light commercial vehicles typically require five tires per vehicle, while medium and heavy commercial vehicles may require seven or more. As fleet owners increasingly opt for heavy vehicles, the demand for tires is expected to rise at a faster rate in the coming years.

The vehicle fleet in Europe has steadily expanded over time. According to the Association des Constructeurs Européens d'Automobiles ESV (ACEA), the fleet stood at approximately 323.93 million units in 2016 and has grown to 405.33 million units in 2020. This significant increase is driven by the growing daily commute via personal vehicles and public transport, resulting in a higher demand for tires in the replacement category.

Online sales play a crucial role in driving tire sales in the region. The trend of increased sales through e-commerce platforms like Amazon, Ebay, and YepGarage.com serves as a sales catalyst for the market. These online platforms allow for direct price and technical comparisons of various tire brands. Additionally, tire manufacturers are establishing their own web portals to sell tires online. For example, Goodyear launched its own online tire sales website in Germany.

The Europe tire market is segmented based on vehicle type, demand category, tire construction type, rim size, sales channel, and country. Vehicle types include passenger cars, light commercial vehicles, medium & heavy commercial vehicles, two-wheelers, and off-the-road (OTR) vehicles.

The market is further segmented by country, including Germany, Russia, France, Italy, Spain, United Kingdom, Poland, Netherlands, Belgium, Slovakia, Romania, and Hungary. Germany, being one of the largest vehicle producers in Europe with a significant vehicle fleet, is expected to retain dominance in tire sales over the next five years.

Key market players in the Europe tire market include :

• Compagnie Générale des Établissements Michelin SCA
• Continental AG
• Pirelli & C. S.p.A.
• Bridgestone Europe NV/SA
• Goodyear Tire & Rubber
• Kumho Tire Europe GmbH
• Nokian Tyres plc.
• Cooper Tire & Rubber Co Europe
• Yokohama Europe GmbH
• Hankook Tire & Technology Co.,Ltd.

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