Germany Tire Market Overview, 2027

Germany Tire Market Overview, 2027

Bonafide Research 29-06-2022 45 Pages Figures : 8 Tables : 17
Region : Europe Country : Germany Category : Automotive & Transport Automotive Parts

Germany is a country in Western Europe. Germany is a hub of automobile companies; eighteen of the world's 100 top automotive suppliers are German companies. Germany is the European car production leader in passenger cars and commercial vehicles. They were manufactured in German plants in 2021. The markets for tyres and for automobiles are interdependent on each other. Growth in one sector will affect the other. The tyre is a strong, flexible rubber casing attached to the rim of a wheel. Tires provide a gripping surface for traction and serve as a cushion for the wheels of a moving vehicle. The tyre is designed to support the vehicle weight, absorb road shocks, transmit traction, torque and braking forces to the road surface and also maintain and change the direction of travel. The tyre is made of resilient rubber and filled with compressed air. Apart from meeting massive local demand, Germany also meets the needs of numerous foreign car markets throughout the world. Three-fourths of automobiles manufactured in Germany are exported to the rest of the globe, bolstering the country’s OEM tyre industry. Small and medium vehicle tyres dominate the passenger car sector, and it is expected to be the largest stakeholder in the German tyre market over the projected period. According to the report titled "Germany Tyre Market Overview, 2026" published by Bonafide Research, the tyre market of the country is expected to grow at a CAGR of around 4% by the end of the forecast period. In Germany, different tyre segments are available. On the basis of vehicle type, passenger cars, commercial-light weight, commercial-heavy, two-wheelers, three-wheelers, and others. Three-wheeler tyres have low market growth due to a low number of three-wheeler vehicles in Germany. Radial tyres and bias-ply tyres are two types of tyres classified on the basis of design type. Bias tyres have low demand because they are highly sensitive to heating due to the interdependence of the centre-tread area and sidewall of the tyre. On the basis of end-use, the Original Equipment Manufacturer (OEM) tyre and replacement tyre are available in the German market. Replacement has a large demand among people due to its low cost and provides a high traction force on roads. A radial tyre is a motor-vehicle tyre in which the piles or cords run from one bead to the other at right angles to both beads. In tyres, there is low heat build-up and tyres have more flexible walls. In a bias ply tire, the cords run at a 45-degree angle from bead to bead. This diagonal pattern is criss-crossed with each layer of plied cord, and creates a very rigid structure. Bias ply tyres are generally better when hauling heavy loads. The radial tyre's market growth was very high from 2015 to 2020, and it is expected that its market growth will be maximum during the forecasted period. The tyre used in passenger cars supports the vehicle load and provides high braking and tractive force on the road surface. Commercial-lightweight tyres have a tougher internal construction, which offers greater strength and puncture resistance than a standard tyre. Commercial-heavy tyres are in adaptation to the load and pressure higher than those foreseen for the standard version of a specific size. Two-wheeler tyres, three-wheeler tyres, and other needs vary with the size of the vehicle, and they are designed to better absorb the bumps and shocks along the road. In the past year, the CAGR of three-wheelers was comparatively low, and during the forecasted period the CAGR is expected to grow gradually. OEM tyres are those tyres that are specified by the vehicle manufacturer and are initially fitted to the vehicle when new. This type of tyre was specially manufactured to emphasise and highlight the vehicle's features. Replacement tyres are those tyres which are purchased to replace the OEM tyres. Replacement tyres are also known as aftermarket tyres. Replacement tyres provide off-road driving and terrain trips. The market attractiveness of replacement tyres has been very high in the past years, and by 2026 it will have robust market attractiveness. Technological advancement in tyre manufacturing, increasing demand for automobiles, and other benefits of tyres have driven the market for tyres in Germany, while the volatile price of raw materials and retarding development are obstacles to the growth of the tyre market. The Germany-based company Continental has continued to grow-and so has the Business Unit Commercial Vehicle Tyres. Continental AG (Continental) is an automotive company that manufactures and sells brake systems, and systems and components for powertrains and chassis, vehicle electronics, instrumentation, infotainment solutions, tyres and technical elastomers. The spread of COVID-19 has affected all countries across the globe. The COVID-19 virus has a negative impact on the tyre market. Due to lockdowns initiated by governments in Germany, they have resulted in an economic crisis, which has pushed the automotive industry to a near-collapse, shutting down factories and emptying showrooms. The automotive sector is one of the sectors most affected by the outbreak of the pandemic. Considered in this report • Geography: Germany • Base year: 2020 • Estimated year: 2021 • Forecast year: 2026 Aspects covered in this report • Germany Tyre market and its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Five force models • Top profiled companies • Strategic recommendation Tyre by End Use • OEM (Original Equipment Manufacturer) • Replacement Tyre by Vehicle type • Passenger Car • Commercial-Light Weight • Commercial-Heavy • Two -Wheeler • Three- wheeler and Other Tyre by Design type • Radial • Bias ply The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to tyre industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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