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Europe Tire (Tyre) Market Outlook, 2026

Europe Tire (Tyre) Market Outlook, 2026

Bonafide Research 13-07-2021 125 Pages Figures : 10 Tables : 60
Region : Europe Category : Automotive & Transport Automotive Parts

1. Bridgestone

2. Apollo Tyres

3. Continental

4. Cooper Tires

5. Goodyear Tyres

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The European tire market is a developed market well progressed towards maturity. As vehicles are getting more efficient, roads are getting smoother; the European tire market finds itself on a suitable pedestal to grow upon. As per the research conducted by Bonafide Research, and the report published under the title of- Europe Tire Market Outlook, 2026, the market is evaluated to be worth USD 38.11 Billion as of 2020, and is expected to grow to 417.09 Million in size by the year 2026 in volume terms.

In order to assess and study the regional trends and patterns in the European tire market, the research has been approached by looking at the market through appropriate segments and classification. The segments that were made during the comprehensive evaluation of the markets were on the basis of vehicle types, end-use demand, and the demand of tires on the basis of their construction design. The vehicle types include vehicles such as passenger cars, light commercial vehicles, medium and heavy vehicles, 2 wheeler vehicles, 3 wheelers and other vehicles including bicycles. The categorization on the basis of end use demand includes demand for replacement tires and OEM demand for tires. On the basis of design types, the tire market is segmented as radial tires and bias-ply tires. In order to have a broader understanding of the landscape of tire market in Europe, further segmentation has been made on the basis of countries, and the sales channels through which the products are made available to the distributors and customers. The report also includes profiles of some of the major tire companies in the world, namely: Bridgestone, Michelin, Sumitomo, Goodyear, Continental, Pirelli, Cooper Tires, Apollo, MRF, Hankook, and Maxxis.

The Europe tire market is majorly driven by Germany having 20% of the overall market share. France and Russia combined to share a little over 20% of the market, while Spain contributes the lowest share as of 2020. As many of the major national markets in the region are well saturated, Russia and Spain continue to show more growth prospects than others during the forecasted period of 2021 to 2026. However, during the same period, the rest of the European regional markets combined excluding the major economies are projected to be registering a growth rate of more than 5%. In 2020, it was derived that about 283.77 Million units of passenger cars tires were sold in the region, making it the biggest segment in the region. 3 wheeler and other tires are expected to be the fastest-growing category during the 2021 to 2026 period, expected to grow at a CAGR of more than 6%. As the region is well penetrated with economy and premium vehicles of both passenger and commercial types, the radicalization of vehicle tires is much higher in Europe as compared to the rest of the world, making it one of the major markets for radial tires.

CONSIDERED IN THE REPORT
• Geography: Europe
• Base Year: 2020
• Historical year: 2015
• Forecasted Year: 2026

COUNTRIES COVERED
• UK
• Germany
• France
• Italy
• Russia
• Spain
• Rest of Europe

ASPECTS COVERED IN THE REPORT
• Market Size by Value (2015-2026F)
• Market Size by Volume (2015-2026F)
• Market Share by Vehicle Type
• Market Share by End Use
• Market Share by Design
• Market Share by Sales Channel
• Market Share by Country

THIS REPORT WOULD HELP YOU ANSWER THE FOLLOWING QUESTIONS:
• What is the size of the European tire market?
• How much do different vehicle types contribute to the European tire market?
• What are the growth trends of radial tires and bias ply tires Europe?
• To what extend did Covid-19 pandemic impact the OEM and replacement demand of tires in Europe?
• What are the drivers, development and key challenges in the Europe tire market?

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