Innovations & Trends Within Europe Tire Market: What is Expected During 2023- 2028

A Quick Overview of Europe Tire Market

• Base Year: 2022

• Historical Years: 2018-2021

• Forecast Years: 2023-2028

• Market Growth Rate: 5% (2023-2028)

The key object of this report on the Europe Tire Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.

MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.

According to the latest report, the Europe Tire Market is projected to grow at around 5% from 2023 to 2028. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data.

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Market Dynamics:

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.

Europe Tire Market Report Segmentation:

The report by MarkNtel Advisors on Europe Tire Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:

By Type of Vehicle

• Passenger Car

• Light Commercial Vehicle

• Medium & Heavy Commercial Vehicle

• Two Wheelers

• Off the Road (OTR) Vehicles

- Of them all, passenger cars, which include sedans, hatchbacks, SUVs, & sports cars, dominate the Europe Tire Market with the largest share. Europe has a dense population as well as a well-established automotive sector that contributes to the high demand for passenger car tires, which typically have a limited lifespan and thus require regular replacement due to wear & tear. Hence, car owners & drivers need to replace worn-out or damaged tires to ensure safety, performance, & adherence to stringent regulations related to fuel efficiency, tire labeling, wet grip performance, & noise emission.

By Demand Category

• OEM

• Replacement

By Type of Tire

• Radial

• Bias

By Sales Channel

• Direct Sales

• Multi-Brand Outlets

• Exclusive Outlets

• Online

By Season

• All Season

• Winter

By Price Category

• Budget

• Economy

• Premium

By Rim Diameter

• Up to 12"

• 12.1" to 15"

• 15.1" to 18"

• 18.1" to 20"

• 20.1" to 26"

• 26.1to 35"

• 35.1" to 47"

• Above 47"

By Country

• The UK

• Germany

• France

• Italy

• Spain

• Poland

• The Netherlands

• Romania

• Belgium

• Slovakia

• Finland

• Norway

• Sweden

• Denmark

• Rest of Europe

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Some of the Top Europe Tire Companies in the Market

In the fast-changing Europe Tire Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top players of the industry ruling the industry are:

• Michelin

• Continental

• Bridgestone

• Pirelli

• Dunlop

• Hankook

• Goodyear

• Nokian

• Yokohama

• Cooper Tires

• Kumho

• Vredestein

• Toyo

• Others

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This release was published on openPR.