According to a recent research report by MarkNtel Advisors, the Europe Tire Market Size, Share, Analysis, Future and Forecast 2023-2028 is projected to experience a compound annual growth rate (CAGR) of approximately 5% during the forecast period from 2023 to 28. The report provides a comprehensive analysis of the market size, highlighting prominent growth factors, opportunities, challenges, key trends, and outlook on different segments and sub-segments until 2028.
The market study considers the historical period of 2018-21, with the base year being 2022.
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Driving Innovation: Key Market Players Shaping the Future
The research report profiles companies in the Market, ranging from large enterprises with a market share of approximately 50-60%, medium-sized companies accounting for 30-40% market share, to small and emerging firms holding a share of 10-20%. The competitive analysis is primarily based on factors such as their product portfolio, annual revenues, and research and development initiatives.
Top Companies in Europe Tire Market
-Michelin
-Continental
-Bridgestone
-Pirelli
-Dunlop
-Hankook
-Goodyear
-Nokian
-Yokohama
-Cooper Tires
In emerging countries, the market growth shall drive through the growing awareness among governments and producers about the flooding need to raise field produce and evaluate the expenditure. Moreover, the expanding concerns on food sustainability across the globe shall lead the government to make massive investments. Hence, based on these factors, the market is likely to achieve an astronomical pace in the forecast years.
Empowering Strategic Decision-Making: Leveraging Market Segmentation for Targeted Strategies and Market Penetration
Within this section of the research report, you will find a meticulous and comprehensive analysis of the Europe Tire Market's size and volume. The analysis is conducted across a range of segments and sub-segments, providing readers with a detailed understanding of the factors that drive market growth within each segment. By exploring these insights, readers can gain valuable knowledge about the specific elements that contribute to the overall expansion of the Market.
By Type of Vehicle
-Passenger Car- Market Size & Forecast 2018-2028, Thousand Units
-Light Commercial Vehicle- Market Size & Forecast 2018-2028, Thousand Units
-Medium & Heavy Commercial Vehicle- Market Size & Forecast 2018-2028, Thousand Units
-Two Wheelers- Market Size & Forecast 2018-2028, Thousand Units
-Off the Road (OTR) Vehicles- Market Size & Forecast 2018-2028, Thousand Units
By Demand Category
-OEM- Market Size & Forecast 2018-2028, Thousand Units
-Replacement- Market Size & Forecast 2018-2028, Thousand Units
By Type of Tire
-Radial- Market Size & Forecast 2018-2028, Thousand Units
-Bias- Market Size & Forecast 2018-2028, Thousand Units
By Sales Channel
-Direct Sales- Market Size & Forecast 2018-2028, Thousand Units
-Multi-Brand Outlets- Market Size & Forecast 2018-2028, Thousand Units
-Exclusive Outlets- Market Size & Forecast 2018-2028, Thousand Units
-Online- Market Size & Forecast 2018-2028, Thousand Units
By Season
-All Season- Market Size & Forecast 2018-2028, Thousand Units
-Winter- Market Size & Forecast 2018-2028, Thousand Units
By Price Category
-Budget- Market Size & Forecast 2018-2028, Thousand Units
-Economy- Market Size & Forecast 2018-2028, Thousand Units
-Premium- Market Size & Forecast 2018-2028, Thousand Units
By Rim Diameter
-Up to 12”- Market Size & Forecast 2018-2028, Thousand Units
-12.1” to 15”- Market Size & Forecast 2018-2028, Thousand Units
-15.1” to 18”- Market Size & Forecast 2018-2028, Thousand Units
-18.1” to 20”- Market Size & Forecast 2018-2028, Thousand Units
-20.1” to 26”- Market Size & Forecast 2018-2028, Thousand Units
-26.1to 35”- Market Size & Forecast 2018-2028, Thousand Units
- 35.1” to 47”- Market Size & Forecast 2018-2028, Thousand Units
-Above 47”- Market Size & Forecast 2018-2028, Thousand Units
By Country
-The UK
-Germany
-France
-Italy
-Spain
-Poland
-The Netherlands
-Romania
-Belgium
-Slovakia
-Finland
-Norway
-Sweden
-Denmark
-Rest of Europe
Market Dynamics:
Key Driver: Ever-Increasing Demand for Replacement Tires to Cater to the Large Vehicle Fleet
Europe has a massive vehicle fleet, which includes passenger cars, commercial vehicles, and two-wheelers. As the number of these vehicles on the road is increasing, so is the need for replacing their tires, mainly due to their wear & tear over time on account of diverse terrains, climates, & driving conditions. Hence, in order to ensure optimal performance, safety, and fuel efficiency, replacement tires are witnessing huge demand in the region and, consequently, driving the Europe Tire Market.
Growth Restraint: Stringent Regulatory Standards being imposed on Tire Manufacturers
The EU is implementing several regulations to address rising concerns over safety, environmental impact, & energy efficiency in order to ensure consumer protection & sustainability, which, in turn, are posing challenges for tire manufacturers. Ensuring compliance with these regulations involves massive R&D investments in testing & production adjustments, i.e., leading to increasing complexity & cost of the tire manufacturing processes.
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Answers to Key Questions: Insights Unveiled in the Research Report
- What is the estimated CAGR and size of Europe Tire Market during the forecast period 2023-28?
- What are the key trends, market drivers, and opportunities of Europe Tire Market?
- What are the major restraints inhibiting the growth of Europe Tire Market through 2028?
- What are the key strategies implemented by the leading players to sustain the competitive Europe Tire Market?
- Who are the key players & stakeholders operating in Europe Tire Market, and what is their significance?
Explore the Report's Framework: Get Oriented with the Table of Contents for a Clear Understanding
-Market Segmentation
-Introduction
-Executive Summary
-Market Porters Five Forces Analysis
-Market Technological Changes
-Market Trends & Insights
-Market Dynamics
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About MarkNtel Advisors
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals. Using such information, our clients can identify attractive investment opportunities & strategize their moves to yield higher ROI (Return of Interest) through an early mover advantage with top-management approaches.
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