Press release
What is the projected size of the Europe Tire Market in 2025?
Europe Tire Market Forecast by 2033Market Size in 2024: 447.9 Million Units
Market Forecast in 2033: 561.8 Million Units
Market Growth Rate 2025-2033: 2.45%
Market Summary
The European tire market reached a volume of 447.9 million units in 2024 and is projected to grow to 561.8 million units by 2033, reflecting a compound annual growth rate (CAGR) of 2.45% during the forecast period from 2025 to 2033. This growth is fueled by rising vehicle ownership, demand for fuel-efficient and eco-friendly tires, stringent safety standards, winter tire regulations, and the expanding electric vehicle sector.
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Europe Tire Market Growth Drivers:
EU Green Deal and CO2 Standards
Brussels has set strict CO2 rules for passenger cars and commercial vehicles as part of the European Green Deal. This new rule asks carmakers to lower average emissions for new cars by 55% by 2030, compared to numbers from 2021. To meet this, carmakers now choose low-rolling-resistance tires. These tires can help cut fuel use by 3-7%. At the same time, the Alternative Fuels Infrastructure Regulation (AFIR) is speeding up the building of fast-charging routes. This means more electric vehicles are coming, and they need special tires that make less noise and do not wear down as quickly. These rules are making companies want better, advanced silica compounds and lighter designs for vehicle parts. Because of this, parts need to be replaced more often. This is pushing people to get new supplies and making companies busy all along the value chain.
Michelin, Continental, and Pirelli Capacity Expansions
Big tire makers are putting a lot of money into Europe to make supply chains shorter and to use green-tire technology near the people who need it. Michelin shared that they will spend €170 million to update their Cholet plant in France. This money will go to make special lines for airless Uptis tires, which they want to start selling in 2027. Continental will put €250 million into its Lousado plant in Portugal to make more high-silica "EcoContact" tires. They want these tires to cut rolling losses by 30%. Pirelli set aside €100 million for its Settimo Torinese site so it can make twice as many Pirelli Cyber Tyre sensors. These smart tires send tread-wear data to fleet owners and insurance groups as people drive. All together, these plans will help tires get to people faster, cut shipping pollution, and help with the use of new materials like dandelion rubber and recycled carbon black.
Digital Tire-as-a-Service Adoption
Telematics is changing how fleet contracts work in the aftermarket. Now, there is a new rule in the EU called Cooperative Intelligent Transport Systems (C-ITS). This rule says that big trucks and buses will need to keep digital logs about tire pressure, tire temperature, and tire tread by 2026. Companies such as DHL Freight and Maersk are starting to offer subscription plans. These plans pack things like tire buying, checking and fixing problems early, and recycling old tires. All this comes at a cost paid by every mile. First tests show that people had 8-12% less downtime than they had planned. They also used 5% less fuel. 5G networks are getting bigger, so we see more local haulers start using these setups. This is making more people buy tires with RFID and use cloud software to track their fleets.
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Europe Tire Market Segmentation:
Breakup by Radial Vs Bias:
• Radial
• Bias
Breakup by End-Use:
• OEM
• Replacement
Breakup by Vehicle Type:
• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two-Wheeler
• Off-The-Road (OTR)
• Three-Wheelers
Breakup by Distribution Channel:
• Offline
• Online
Breakup by Country:
• Germany
• United Kingdom
• Spain
• France
• Italy
• Russia
• Turkey
• Netherlands
• Belgium
• Others
Leading European Tire Companies:
• MICHELIN
• Bridgestone Corporation
• Continental AG,
• Goodyear Tire & Rubber Company
• Sumitomo Corporation,
• Pirelli Tyre S.p.A.
• Yokohama Tire Corporation
• Hankook Tire Co., Ltd
• Toyo Tire Corporation
• KUMHO TIRE CO., INC.
Europe Tire Market News
• Gravita India Limited announced in September 2024 that its subsidiary, Gravita Netherlands BV, signed a memorandum of understanding to acquire a waste tire recycling facility in Romania. This marks Gravita's first recycling operation in Europe, with a capacity of approximately 17,000 metric tons per year.
• Yokohama Rubber Company agreed to acquire The Goodyear Tire & Rubber Company's Off-the-Road (OTR) tire division in July 2024. This division specializes in tires for the mining and construction sectors.
• KENDA launched four new automotive tires at The Tire Cologne 2024, designed specifically for the European market. The company also announced the full incorporation of its daughter company, STARCO, as a new specialty business unit.
• Giti Tire introduced the Giti GDL617 Ecoroad in April 2024, featuring a novel tread compound that reduces hysteresis generation and improves rolling resistance by two grades.
• Bridgestone Europe launched its connected vehicle platform, Bridgestone Fleetcare, in 2022, combining tire and vehicle maintenance with telematics and data insights to optimize fleet operations.
Inquire before buying: https://www.imarcgroup.com/request?type=report&id=2192&flag=F
Key highlights of the Report:
• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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