Europe Tire Market Analysis Reveals Path to 561.8 Million Units by 2033 with 2.45% CAGR

Europe Tire Market Forecast by 2033

Market Size in 2024: 447.9 Million Units
Market Forecast in 2033: 561.8 Million Units
Market Growth Rate 2025-2033: 2.45%

The Europe tire market reached 447.9 Million Units in 2024 and is projected to expand to 561.8 Million Units by 2033, growing at a CAGR of 2.45% during 2025-2033. This growth is supported by rising vehicle ownership, demand for eco-friendly and fuel-efficient tires, winter tire regulations, and the increasing adoption of electric vehicles across the region.

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Growth Drivers of the European Tire Market

Expansion of Electric Vehicle Adoption

For automotive carbon dioxide (CO2) emissions, the European Union targets a reduction of greenhouse gas emissions, including effectively reducing new cars 100% by 2035. This has furthered electric vehicles' use through specialized tire designs. Those designs support battery packs' weight and reduce rolling resistance. Electric vehicles saw sales across Europe rise past 2.6 million in 2023. They accounted for roughly 22% of all new car sales. Electric vehicle demand grows and requires a range of tire technologies for electric vehicle applications like foam layers that reduce noise and sidewalls with reinforcement.

Technological Advancements in Tire Manufacturing

Tire manufacturers in Europe invested a lot in new technologies for changing consumer demands and regulatory demands. Michelin and Bridgestone have developed sustainable tire models with recycled and bio-ingredients. The next developments were in response to the European Commission's more stringent labeling for fuel efficiency, noise and wet grip performance, contributing to improving safety and performance, and also in helping Europe meet its sustainability goals. This is also supported by technology, increasingly seen as a marketing tool for growth.

Seasonal Tire Regulations and Safety Standards

In many European countries, including Germany, Sweden and Finland, it is mandatory to use winter tires for certain months of the year, thus creating demand for seasonal tires. According to the Federal Motor Transport Authority of Germany, more than 45 million winter tires are sold in Germany annually. The EU has been interested in tire safety, and has introduced more stringent performance requirements, such as braking and tread wear limits, which have made replacement more likely and encouraged innovation.

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Europe Tire Market Segmentation:

Analysis by Radial vs Bias
• Radial
• Bias

Analysis by End Use
• OEM
• Replacement

Analysis by Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Medium and Heavy Commercial Vehicles
• Two-Wheeler
• Three-Wheeler
• Off-The-Road (OTR)

Analysis by Distribution Channel
• Offline
• Online

Analysis by Country
• Germany
• United Kingdom
• Spain
• France
• Italy
• Russia
• Turkey
• Netherlands
• Belgium
• Others

Leading Tire Companies in Europe:
• 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.

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Europe Tire Market News
• May 2025: Goodyear introduced truck racing tires for the FIA European Truck Racing Championship containing 55% sustainable materials.
• April 2025: ENSO launched premium ultra-high-performance tires for Tesla and other EVs, designed to improve energy efficiency and range.
• March 2025: Michelin unveiled its Air X Sky Light radial aircraft tire, reducing weight by up to 20% and improving fuel efficiency.
• January 2025: Hankook expanded its Optimo sub-brand in Europe, offering summer, all-season, and winter tires for cars and SUVs.

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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