The "Europe Automotive Tire Market Research Report: By Vehicle, Design, End User, Geographical Outlook Industry Size, Share Analysis and Growth Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
In 2018, the European automotive tire market generated a revenue of $20,037.8 million and is predicted to advance at a 4.5% CAGR during the forecast period (2019-2024).
This is because of the growth of the automotive industry and high tire replacement rate. A tire is made by utilizing rubber, fabric, chemicals, and metal and is designed to cushion road shock, provide traction, and carry load under varying conditions. Tires are used in all kinds of vehicles including light commercial vehicles, two-wheelers, medium heavy commercial vehicles, and passenger cars.
When design is taken into consideration, the European automotive tire market is bifurcated into bias and radial. Bias tires consist of internally crisscrossed nylon cord plies at a 30 to 45-degree angle to the tread center line. Due to their design, these tires are tough, have a rugged build, and increase sidewall puncture resistance. Radial tires provide high structural integrity and comprise perpendicular polyester plies and overlapping steel belts under the tread. During the historical period (2014-2018), radial tires occupied the major share of the market, in terms of value and volume.
A key trend in the European automotive tire market is the development of advanced tires. At the present time, there is a rising requirement for three major qualities in a tire: low wear and tear for enhanced tire durability, improved grip for increased safety quotient, and low rolling resistance for better fuel efficiency. In order to cater to these needs of the consumers, the market is witnessing development of advanced products. For example, the emergence of ultra-high-performance tires has helped in increasing the reliability and speed of the tire.
The expansion of the automotive industry is a major driving factor of the European automotive tire market. The European automotive market is one of the largest in the world and the region is home to many global automobile part manufacturers. Moreover, the automotive tire market in the region is projected to register considerable growth due to the impact of new technologies, such as electric and autonomous vehicles, extension of tariff wars, and changing preferences of younger generation consumers.
Another factor leading to the growth of the European automotive tire market is the high tire replacement rate. Attributed to several technological advancements, the average lifespan of vehicles has increased considerably. This improved reliability and longevity of vehicles has been made possible due to the rising competition amongst automakers. This has led to an increase in the replacement rate of tires. Furthermore, because of the rising mileage provided by vehicles, the chances of wear and tear of the tires have grown, thereby resulting in the increased need for replacement of tires.
Thus, the market is witnessing growth due to the expanding automotive industry in the European region and the high rate of tire replacement.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Vehicle
4.1.2 By Design
4.1.3 By Type
4.1.4 By End Use
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.2 Drivers
4.3.3 Restraints
4.3.4 Opportunities
4.4 Porter's Five Forces Analysis
Chapter 5. Import Export Analysis and Prominent Tire Size
5.1 Import Export Analysis
5.2 Prominent Tire Size, by Country
Chapter 6. Price Trend Analysis
Chapter 7. Regulatory Landscape
7.1 Winter Tire Regulations
7.2 EU Tire Labeling Regulations
Chapter 8. Europe Market Size and Forecast
8.1 By Vehicle
8.2 By Design
8.3 By Type
8.4 By End Use
8.5 By Country
Chapter 9. Germany Market Size and Forecast
Chapter 10. France Market Size and Forecast
Chapter 11. Italy Market Size and Forecast
Chapter 12. Spain Market Size and Forecast
Chapter 13. U.K. Market Size and Forecast
Chapter 14. Poland Market Size and Forecast
Chapter 15. Netherlands Market Size and Forecast
Chapter 16. Belgium Market Size and Forecast
Chapter 17. Switzerland Market Size and Forecast
Chapter 18. Austria Market Size and Forecast
Chapter 19. Rest of Europe Market Size and Forecast
Chapter 20. Europe Ultra-High-Performance Tire Market Size and Forecast
Chapter 21. Competitive Landscape
21.1 Benchmarking of Key Players
21.2 Market Share Analysis of Key Players
21.3 Strategic Developments of Key Players
21.3.1 Mergers and Acquisitions
21.3.2 Product Launches
21.3.3 Facility Expansions
21.3.4 Client Wins
Chapter 22. Company Profiles
22.1 Continental AG
22.2 The Goodyear Tire Rubber Company
22.3 Cooper Tire Rubber Company
22.4 Pirelli C. S.p.A.
22.5 Compagnie Gnrale des tablissements Michelin
22.6 Bridgestone Europe NV/SA
22.7 Yokohama Rubber Co. Ltd.
22.8 Hankook Tire Company Limited
22.9 Nokian Renkaat Oyj
22.10 Apollo Tyres Limited
22.11 Sumitomo Rubber Industries Ltd.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200206005498/en/
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