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EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET FORECAST 2022-2030

The Europe tire aftermarket, tire replacement market is anticipated to generate $28.06 billion by 2030, surging with a 4.14% CAGR during the assessment period, 2022-2030.

EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET FORECAST 2022-2030

Europe Tire Aftermarket, Tire Replacement Market by Tire Type (Radial Tire, Bias Tire) Market by Rim Size (13-5 Inches, 16-18 Inches, 19-21 Inches, More Than 21 Inches) Market by Distribution Channel (Original Equipment Supplier, Independent Aftermarket) by Geography

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The Europe tire aftermarket, tire replacement market is anticipated to generate $28.06 billion by 2030, surging with a 4.14% CAGR during the assessment period, 2022-2030.

According to the European Automobile Manufacturers’ Association (ACEA), the automotive industry contributes 7% to Europe’s GDP. The market’s growth might be attributed to the thriving European automotive sector and an increase in tire replacement rates due to longer vehicle lifespans. Also, the automotive tire aftermarket growth is influenced by stringent European Union (EU) regulations, an increase in the average age of operating automobiles, and a spike in demand for green tires.

Europe Tire Aftermarket, Tire Replacement Market

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Further, Europe is an important vehicle market due to its vast consumer market, highly qualified labor, positive infrastructural development, and municipal and state government incentives. In addition, the European Commission has established CO2 emission requirements for passenger cars and commercial vehicles, which is set to encourage green tires in the region’s OEM and aftermarket.

The Europe tire aftermarket, tire replacement market growth assessment entails a detailed analysis of Spain, Slovakia, United Kingdom, Germany, Czech Republic, Italy, France, and Rest of Europe. People in the United Kingdom contribute considerably to the expansion of the country’s automobile sector as urbanization and disposable income rise. The United Kingdom automobile industry has had exceptional success in recent years. A competitive supply chain in vehicle manufacturing gives motorists a choice in how they service and repair their cars through franchised and independent networks.

Furthermore, the United Kingdom has a significant proportion of leased and fleet cars compared to other nations, which helps develop the aftermarket industry because these vehicles frequently have maintenance contracts with aftermarket firms. The automotive tire aftermarket in the United Kingdom is expected to rise in the following years as its infrastructure improves and its automotive fleet grows.

On the other hand, with increased service focus and new product innovation in Germany, the aftermarket has acquired a lot of traction. As one of Europe’s top automotive markets, high vehicle sales are one of the major drivers driving the expansion of the Germany tire aftermarket, tire replacement market. Furthermore, expanding research and development investments in the automotive sector and rising consumer spending power impact the Germany automotive tire aftermarket.

The Europe tire aftermarket, tire replacement market assessment entails segmentation analysis by rim size, distribution channel, and tire type. Market by rim size includes 19-21 inches, 13-15 inches, 16-18 inches, and more than 21 inches.

The 16-18 rim size segment is expected to grow significantly in the Europe tire aftermarket, tire replacement market. This segment is finding widespread use in off-road performance vehicles. A tire with the dimensions P225/70R16 91S would fit a 16-inch rim. 17-inch and 18-inch rim-size tires provide additional grip, braking performance, ride comfort, and steering feels while barely degrading ride quality. To increase profitability, many tire companies have reduced the production of low-cost tires in favor of larger-diameter tires.

Key players in the Europe tire aftermarket, tire replacement market are JK Tyre & Industries, Goodyear Tires, Bridgestone Corporation, Continental AG, etc.

Continental AG (Continental) is an automotive company that manufactures and sells brake systems, systems and components for instrumentation, chassis & powertrains, vehicle electronics, tires, infotainment solutions, and technical elastomers. The company offers tires and tire replacements for various customers, from buses, construction site vehicles, and passenger cars to special vehicles, bicycles, and motorcycles. It serves customers in Asia, Europe, North America, etc. The company has manufacturing plants across the world. Continental AG is headquartered in Niedersachsen, Germany.

StraddleMaster Radial tires from Continental AG are ideal for shuttle and straddle carriers for conducting load operations and for automated guided vehicles (AGVs).

Report Synopsis

Report Scope

Details
Market Forecast Years 2022-2030
Base Year 2021
Market Historical Years 2018-2021
Forecast Units Revenue ($ Billion)
Segments Analyzed Tire Type, Rim Size, Distribution Channel
Countries Analyzed United Kingdom, Germany, France, Italy, Spain, Slovakia, Czech Republic, and Rest of Europe
Companies Analyzed

Apollo Tyres, Bridgestone Corporation, CEAT Limited, Continental AG, Goodyear Tires, Hankook Tire & Technology Co Ltd, JK Tyre, Maxxis, Michelin, MRF, NEXEN TIRE Corporation, Pirelli & C SpA, Sumitomo Rubber Industries Ltd, The Yokohama Rubber Company, Toyo Tires

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    1. RESEARCH SCOPE & METHODOLOGY
      • STUDY OBJECTIVES
      • SCOPE OF STUDY
      • METHODOLOGY
      • ASSUMPTIONS & LIMITATIONS
    2. EXECUTIVE SUMMARY
      • MARKET SIZE & ESTIMATES
      • MARKET OVERVIEW
    3. MARKET DYNAMICS
      • KEY DRIVERS
        • GREATER REQUIREMENT FOR ENERGY-EFFICIENT TIRES
        • STRINGENT GOVERNMENT REGULATIONS REGARDING TIRE LABELING
      • KEY RESTRAINTS
        • VOLATILE PRICES OF RUBBER AND OTHER AUTOMOTIVE RAW MATERIALS
    1. KEY ANALYTICS
      • IMPACT OF COVID-19 ON TIRE AFTERMARKET, TIRE REPLACEMENT MARKET
      • KEY MARKET TRENDS
      • PORTER’S FIVE FORCES ANALYSIS
        • BUYERS POWER
        • SUPPLIERS POWER
        • SUBSTITUTION
        • NEW ENTRANTS
        • INDUSTRY RIVALRY
      • OPPORTUNITY MATRIX
      • VENDOR LANDSCAPE
      • REGULATORY FRAMEWORK
    2. MARKET BY TIRE TYPE
      • RADIAL TIRE
      • BIAS TIRE
    3. MARKET BY RIM SIZE
      • 13-15 INCHES
      • 16-18 INCHES
      • 19-21 INCHES
      • MORE THAN 21 INCHES
    4. MARKET BY DISTRIBUTION CHANNEL
      • ORIGINAL EQUIPMENT SUPPLIER
      • INDEPENDENT AFTERMARKET
    5. GEOGRAPHICAL ANALYSIS
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • SPAIN
          • ITALY
          • SLOVAKIA
          • CZECH REPUBLIC
          • REST OF EUROPE
    1. COMPETITIVE LANDSCAPE
      • KEY STRATEGIC DEVELOPMENTS
        • MERGERS & ACQUISITIONS
        • PRODUCT LAUNCHES & DEVELOPMENTS
        • PARTNERSHIPS & AGREEMENTS
        • BUSINESS EXPANSIONS & DIVESTITURES
      • COMPANY PROFILES
        • APOLLO TYRES
        • BRIDGESTONE CORPORATION
        • CEAT LIMITED
        • CONTINENTAL AG
        • GOODYEAR TIRES
        • HANKOOK TIRE & TECHNOLOGY CO LTD
        • JK TYRE
        • MAXXIS
        • MICHELIN
        • MRF
        • NEXEN TIRE CORPORATION
        • PIRELLI & C SPA
        • SUMITOMO RUBBER INDUSTRIES LTD
        • THE YOKOHAMA RUBBER COMPANY
        • TOYO TIRES

    LIST OF TABLES

    TABLE 1: MARKET SNAPSHOT – TIRE AFTERMARKET, TIRE REPLACEMENT

    TABLE 2: REGULATORY FRAMEWORK

    TABLE 3: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 4: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY TIRE TYPE, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 5: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 6: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RIM SIZE, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 7: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2021 (IN $ BILLION)

    TABLE 8: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 9: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2021 (IN $ BILLION

    TABLE 10: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY COUNTRY, FORECAST YEARS, 2022-2030 (IN $ BILLION)

    TABLE 11: LEADING PLAYERS OPERATING IN EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET

    TABLE 12: LIST OF MERGERS & ACQUISITIONS

    TABLE 13: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

    TABLE 14: LIST OF PARTNERSHIPS & AGREEMENTS

    TABLE 15: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

    LIST OF FIGURES

    FIGURE 1: KEY MARKET TRENDS

    FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

    FIGURE 3: OPPORTUNITY MATRIX

    FIGURE 4: VENDOR LANDSCAPE

    FIGURE 5: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY TIRE TYPE, IN 2021

    FIGURE 6: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY RADIAL TIRE, 2022-2030 (IN $ BILLION)

    FIGURE 7: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY BIAS TIRE, 2022-2030 (IN $ BILLION)

    FIGURE 8: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY RIM SIZE, IN 2021

    FIGURE 9: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 13-15 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 10: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 16-18 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 11: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY 19-21 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 12: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY MORE THAN 21 INCHES, 2022-2030 (IN $ BILLION)

    FIGURE 13: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2021

    FIGURE 14: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY ORIGINAL EQUIPMENT SUPPLIER, 2022-2030 (IN $ BILLION)

    FIGURE 15: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, BY INDEPENDENT AFTERMARKET, 2022-2030 (IN $ BILLION)

    FIGURE 16: EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, COUNTRY OUTLOOK, 2021 & 2030 (IN %)

    FIGURE 17: UNITED KINGDOM TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 18: GERMANY TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 19: FRANCE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 20: SPAIN TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 21: ITALY TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 22: SLOVAKIA TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 23: CZECH REPUBLIC TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)

    FIGURE 24: REST OF EUROPE TIRE AFTERMARKET, TIRE REPLACEMENT MARKET, 2022-2030 (IN $ BILLION)      

    1. GEOGRAPHICAL ANALYSIS
      • EUROPE
        • MARKET SIZE & ESTIMATES
        • KEY GROWTH ENABLERS
        • KEY CHALLENGES
        • KEY PLAYERS
        • COUNTRY ANALYSIS
          • UNITED KINGDOM
          • GERMANY
          • FRANCE
          • SPAIN
          • ITALY
          • SLOVAKIA
          • CZECH REPUBLIC
          • REST OF EUROPE
    1. MARKET BY TIRE TYPE
      • RADIAL TIRE
      • BIAS TIRE
    2. MARKET BY RIM SIZE
      • 13-15 INCHES
      • 16-18 INCHES
      • 19-21 INCHES
      • MORE THAN 21 INCHES
    3. MARKET BY DISTRIBUTION CHANNEL
      • ORIGINAL EQUIPMENT SUPPLIER
      • INDEPENDENT AFTERMARKET

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    We offer 10% free customization including country-level data, niche applications and competitive landscape with every report.


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