European tire market is projected to witness a CAGR of 2.1% during the forecast period (2020-2026). Stable vehicle sales, high expenditure on vehicles, and its accessories are some of the major factors for the growth of the market in the region. Growth in the demand for high-performance tires is another major factor for the growth of the market in the region. Increasing total vehicle fleet is also one of the major factors for market growth in the region. As per the European Automobile Manufacturers Association (ACEA), the total vehicle fleet of Europe was more than 386 million as compared to nearly 379 million in 2017.
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Europe's tire market is segmented based on vehicle type, road application, construction, tire type, and sales channel. By vehicle type, the market is further segmented into passenger cars, light & medium commercial vehicles, heavy commercial vehicles, two-wheeler, and other. During the forecast period, passenger car segment expected to maintain a major market share in the country. As per the ACEA, the passenger vehicle fleet was around 326 million in 2018 whereas the total commercial vehicle fleet was around 55.2 million in 2018.
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Some of the key players of the European tire market include Bridgestone Corp., Continental AG, Cooper Tire & Rubber Co., Goodyear Tire and Rubber Co., Michelin Group, Nokian Tyres PLC, Pirelli & C. S.p.A., The Yokohama Rubber Co, Ltd., Trelleborg AB among others. The market players are significantly contributing to the market growth by adopting various strategies including mergers, & acquisitions, collaborations, new product launch, and geographical expansion, to stay competitive in the market.
Europe Automotive Tire Market By Vehicle Type
Light &Medium Commercial Vehicle
Heavy Commercial Vehicle
Other (Construction, Agricultural, Customized Sports)
Europe Automotive Tire Market By Road Application
Other (All-Terrain Tire)
Europe Automotive Tire Market By Construction
Europe Automotive Tire Market By Tire Type
Europe Automotive Tire Market By Sales Channel
OEM (Original Equipment Manufacturer)
Aeolus Tyre Co. Ltd.
Aeolus Tyre Co. Ltd. in Europe
Aeolus Tyre Co. Ltd. in Tire Landscape
Apollo Tires Ltd.
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