Europe Automotive Tire Replacement Market was valued at USD 30 Billion in 2022 and is projected to reach USD 45 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
The European automotive tire replacement market has witnessed substantial growth, driven by several factors that affect both consumers and industries. Tires, being one of the most critical components of any vehicle, have high replacement demand due to wear and tear, seasonal changes, and the growing number of vehicles on the road. In recent years, advancements in tire technology and the evolving needs of the automotive industry have further fueled this market's expansion. Automotive tire replacement has become an essential service in the automotive ecosystem, with consumers, car manufacturers, and fleet operators all playing significant roles in this demand.
The tire replacement market in Europe is categorized into different segments based on the type of tire, including radial and bias tires. Radial tires dominate the market due to their improved durability, fuel efficiency, and performance in a variety of road conditions. These tires are commonly found in passenger vehicles, trucks, and commercial vehicles. On the other hand, bias tires, though still in use, are more commonly seen in off-road applications due to their robust construction and higher load-carrying capacity.
From an industrial perspective, the demand for automotive tire replacements is strongly influenced by the vehicle fleet management strategies of commercial and logistics companies. Fleets require regular tire replacements to ensure operational efficiency and safety. Fleet operators often rely on tire suppliers to provide bulk purchases at competitive prices while ensuring that the tires meet industry standards for longevity and performance.
The increasing penetration of electric vehicles (EVs) in Europe also affects the automotive tire replacement market. EVs have unique requirements, such as tires designed for lower rolling resistance to maximize battery life and efficiency. Consequently, tire manufacturers have started focusing on producing specialized tires tailored to the growing electric vehicle market.
Moreover, seasonal factors also contribute to the increased need for tire replacements in Europe, where drivers are required to switch to winter tires during the colder months. Regulations across many European countries mandate the use of winter tires, further amplifying the demand during specific times of the year.
Technological innovations in tire design and manufacturing have also influenced the market. Manufacturers are increasingly producing tires with enhanced durability, longer lifespan, and better performance characteristics, which encourages vehicle owners to opt for replacements sooner rather than later, contributing to the growth of the automotive tire replacement market.
Overall, the automotive tire replacement market in Europe is growing rapidly, driven by technological advancements, regulatory changes, and increased demand from various industries, including the growing EV sector. With the continuous evolution of automotive technology and shifting consumer preferences, the tire replacement market will continue to evolve to meet the needs of both individuals and industries alike.
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Bridgestone Corporation
Continental AG
The Goodyear Tire & Rubber Company
Michelin
Pirelli & C. S.p.A
Sumitomo Corporation
CODA Development
Kumho Tires
Nokian Tyres
Hankook Tire & Technology
The Yokohama Rubber Company
Limited
Zhongce Rubber Group Co.
Ltd.
Maxxis Tyres
Giti Tire
Cooper Tire & Rubber Company
Shandong Linglong Tire Co.
Ltd.
Apollo Tyres Limited
MRF Tyre company
Sailun Group
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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 Automotive Tire Replacement Market
Passenger Car Tires
Light Truck Tires
Heavy Truck Tires
Two-Wheeler Tires
Commercial Vehicle Tires
Online Retail
Dedicated Tire Shops
Automotive Dealerships
Supermarkets and Hypermarkets
Wholesale Distributors
All-Season Tires
Winter Tires
Performance Tires
Off-Road Tires
Run-Flat Tires
Retail Sales
Wholesale Sales
Franchised Dealers
Direct-to-Consumer (D2C)
B2B Sales
Natural Rubber
Synthetic Rubber
Textiles
Metal
Other Materials
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
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1. Introduction of the Europe Automotive Tire Replacement 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 Automotive Tire Replacement Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Automotive Tire Replacement Market, By Type
6. Europe Automotive Tire Replacement Market, By Application
7. Europe Automotive Tire Replacement Market, By Geography
Europe
Germany
UK
France
8. Europe Automotive Tire Replacement Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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