Europe New Energy Vehicle Tyre Market was valued at USD 3.0 Billion in 2022 and is projected to reach USD 9.0 Billion by 2030, growing at a CAGR of 15.3% from 2024 to 2030.
The Europe New Energy Vehicle Tyre Market is undergoing rapid transformations driven by the growing adoption of electric and hybrid vehicles. As the demand for eco-friendly vehicles soars, tyre manufacturers are adapting to meet the unique demands of these new-age cars. These vehicles, powered by electricity and alternative fuel sources, require specific tyres to ensure efficiency, safety, and performance. In this article, we explore the key types of tyres and their requirements for the European New Energy Vehicle Tyre Market.
The shift toward electric vehicles (EVs) has brought a significant focus on tyres that complement these vehicles' unique characteristics. Electric cars are heavier due to their battery packs, meaning tyres need to be more durable and capable of handling additional weight. As a result, manufacturers are producing tyres with enhanced load-bearing capacity and durability. Furthermore, electric vehicles are known for their quieter operation, so tyres must be engineered to minimize road noise, contributing to a smoother and more comfortable ride.
One key type of tyre gaining popularity in the New Energy Vehicle Tyre Market is the low rolling resistance (LRR) tyre. These tyres reduce energy consumption and increase the overall efficiency of the vehicle, directly impacting the driving range of electric cars. For industries, adopting LRR tyres means better fuel efficiency, lower operational costs, and a reduction in carbon footprint. This makes LRR tyres an essential component of the growing EV industry in Europe.
Another essential requirement is the use of eco-friendly materials. The New Energy Vehicle Tyre Market is increasingly focusing on sustainable production methods, incorporating renewable and recyclable materials to reduce environmental impact. Tyre manufacturers are also using advanced technologies to improve the performance and lifespan of tyres, ensuring that they are both effective and environmentally friendly.
From an industrial perspective, the demand for tyres that offer enhanced durability and longer lifespans is a growing trend. The new generation of tyres needs to handle high torque output from electric motors while providing exceptional grip and stability, ensuring safety on both wet and dry roads. The introduction of smart tyres, which feature sensors to monitor performance and provide real-time data to drivers and fleet managers, is also reshaping the market.
The European New Energy Vehicle Tyre Market is evolving, and industries are increasingly investing in tyres designed for optimal performance and sustainability. As the shift toward electric vehicles accelerates, the demand for innovative, high-performance tyres will continue to grow, shaping the future of the automotive sector in Europe.
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Michelin
Bridgestone
Continental
Pirelli
Goodyear
Shanghai Huayi
Sumitomo Rubber Industries
ZC Rubber
Yokohama
Nokian Tyres
Hankook
Maxxis
Triangle Group
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe New Energy Vehicle Tyre Market
Battery Electric Vehicles (BEVs)
Plug-in Hybrid Electric Vehicles (PHEVs)
Fuel Cell Electric Vehicles (FCEVs)
Radial Tyres
Bias Ply Tyres
Passenger Vehicles
Commercial Vehicles
Two-Wheelers
Original Equipment Manufacturer (OEM)
Aftermarket Sales
Online Retail
Natural Rubber
Synthetic Rubber
Other Composite Materials
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
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1. Introduction of the Europe New Energy Vehicle Tyre Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe New Energy Vehicle Tyre Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe New Energy Vehicle Tyre Market, By Type
6. Europe New Energy Vehicle Tyre Market, By Application
7. Europe New Energy Vehicle Tyre Market, By Geography
Europe
Germany
UK
France
8. Europe New Energy Vehicle Tyre Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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