Europe Tyre Market Outlook, 2029

The Europe Tyre market is projected to add more than USD 13 Billion from 2024 to 2029. The growth of the Europe Tire market can be attributed

Featured Companies

  • 1. Bridgestone
  • 2. Apollo Tyres
  • 3. Ceat Tyres
  • 4. Continental
  • 5. Giti Tire
  • 6. Goodyear Tyres
  • More...

The European tyre market is a developed market well progressed towards maturity. As vehicles are getting more efficient, roads are getting smoother; the European tyre market finds itself on a suitable pedestal to grow upon. In order to assess and study the regional trends and patterns in the European tyre market, the research has been approached by looking at the market through appropriate segments and classification. The segments that were made during the comprehensive evaluation of the markets were on the basis of vehicle types, end-use demand, and the demand of tyres on the basis of their construction design. In order to have a broader understanding of the landscape of tyre market in Europe, further segmentation has been made on the basis of countries, and the sales channels through which the products are made available to the distributors and customers. Besides, the growing awareness about the importance & benefits of timely inspection & maintenance of vehicles & tires is further generating growth opportunities for the leading players in the market to expand their product portfolio and offer lucrative tire replacement deals to customers. Moreover, an increasing number of construction projects in line with burgeoning infrastructural developments is surging the demand for heavy vehicles & construction equipment and, in turn, is infusing the production & sales of tires across the region. According to the research report, "Europe Tyre Market Outlook, 2029," published by Bonafide Research, the Europe Tyre market is projected to add more than USD 13 Billion from 2024 to 2029. The growth of the Europe Tire market can be attributed to the rising consumer demand for ultra-high-performance tires with high durability and reliability. Further, the growing need for automobile tires with increased sidewall puncture resistance, and high-design cushion for road-shock have also augmented the market growth in the region. Additionally, the high consumer living standards supported by their increasing per capita expenditures on luxury cars have propelled the demand for advanced and premium-quality tires. Moreover, the rising disposable income levels of the European middle-class population have significantly increased the demand for crossover utility vehicles (CUVs) and sport utility vehicles (SUVs), thereby catalyzing the market growth. Apart from this, growing presence of major tire manufacturing brands such as Continental AG, Michelin, Bridgestone, Goodyear, Pirelli, etc. is also driving the market. Moreover, due to the rising environmental concerns towards the high vehicular pollution level coupled with the launch of several programs by the European Commission for controlling pollution have led to the introduction of electric vehicles. On account of this, there is a high demand for compatible and durable tires for electric and autonomous vehicles. In 2021, it was derived that about 290.36 Million units of passenger cars tyres were sold in the region, making it the biggest segment in the region. 3 wheeler and other tyres are expected to be the fastest-growing category during the 2024 to 2029 period, expected to grow at a CAGR of more than 5%. As the region is well penetrated with economy and premium vehicles of both passenger and commercial types, the radicalization of vehicle tyres is much higher in Europe as compared to the rest of the world, making it one of the major markets for radial tyres.

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Passenger Car Tyres dominate the market, driven by a growing preference for performance and safety features among consumers. Innovations in technology, such as low rolling resistance and eco-friendly materials, have enhanced tyre longevity and fuel efficiency, catering to the increasing demand for sustainable options. In the light-weight commercial vehicle segment, tyres are designed to balance durability and efficiency. This sector has seen a rise in demand due to the growth of e-commerce and last-mile delivery services. As businesses seek to optimize their operations, the demand for robust yet lightweight tyres has intensified, leading manufacturers to develop products that improve load-carrying capacity while maintaining lower weight. The heavy commercial vehicle segment remains crucial for logistics and freight transport across Europe. This segment is characterized by robust tyre designs that withstand rigorous conditions and high loads. With the ongoing focus on reducing carbon footprints, there’s a growing shift towards tyres that offer better fuel efficiency and longer service life, aligning with stringent environmental regulations. Two-wheeler tyres are also witnessing significant growth, particularly with the rise of electric scooters and motorcycles, which are becoming increasingly popular in urban areas. This shift is coupled with advancements in tyre technology that improve grip and performance, attracting younger demographics. The three-wheeler and other segments are expanding, particularly in urban transport solutions and developing markets. The demand for versatile and economical transport options drives innovation in this category. Radial tyres are distinguished by their construction, where the cords run at a 90-degree angle to the direction of travel. These designs allow for a flexible sidewall and a stiffer tread area, which enhances performance characteristics such as handling, fuel efficiency, and wear resistance. The radial construction improves the footprint of the tyre on the road, leading to better traction and reduced rolling resistance. European manufacturers have focused on several innovative initiatives to enhance radial tyre performance. One major area of development is the incorporation of advanced materials such as silica and synthetic polymers, which improve grip and reduce heat buildup. This not only enhances performance but also extends the lifespan of the tyres. Additionally, the integration of smart technologies, such as sensors that monitor tyre pressure and temperature, has gained traction. Bias ply tyres, on the other hand, have cords that crisscross at angles, typically between 30 to 40 degrees. This construction results in a more rigid sidewall, which can provide better load-carrying capacity. However, bias ply tyres generally have a shorter lifespan and lower fuel efficiency compared to radial tyres. They are often used in specific applications where durability and resistance to punctures are more critical than performance. In the European tyre market, the end-user segments are primarily categorized into OEM (Original Equipment Manufacturer) and replacement tyres, each with distinct distribution channels and dynamics. OEM tyres are supplied directly to vehicle manufacturers and fitted onto new vehicles before sale. This segment is characterized by long-term contracts between tyre manufacturers and automotive companies, ensuring that OEM tyres meet specific performance and safety standards. Distribution channels in this segment are typically direct, with manufacturers supplying tyres to automakers' assembly lines. The demand for OEM tyres is driven by the production of new vehicles, and it often reflects the latest technological advancements and design innovations in tyre engineering. Replacement tyres, on the other hand, cater to existing vehicles and are sold when tyres are worn out or damaged. This segment encompasses a broader range of consumers, including individual vehicle owners and commercial fleets. The distribution channels for replacement tyres are more diverse, involving a mix of retail outlets, online platforms, and service workshops. Independent tyre dealers, large retail chains, and e-commerce platforms play crucial roles in this segment, allowing consumers to choose from a wide variety of brands and types. The increasing trend of online sales has significantly influenced the replacement tyre market, providing consumers with greater convenience and competitive pricing.

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Manmayi Raval

Manmayi Raval

Research Consultant

Germany is leading the European tyre market due to a combination of robust automotive manufacturing, strong technological innovation, and a well-established supply chain. As the largest automotive producer in Europe, Germany is home to major car manufacturers like Volkswagen, BMW, and Mercedes-Benz, which drive significant, demand for both OEM and replacement tyres. This close relationship between tyre manufacturers and automotive companies fosters collaboration on advanced tyre technologies that enhance performance, safety, and sustainability. Additionally, Germany’s emphasis on research and development has led to innovations in tyre materials and designs, such as low rolling resistance and eco-friendly compounds, aligning with the increasing consumer demand for environmentally friendly solutions. The country also benefits from a comprehensive distribution network, efficient logistics, and a skilled workforce, further solidifying its position as a hub for tyre production and distribution in Europe. This combination of factors ensures that Germany remains at the forefront of the European tyre market. COVID-19 Impact The advent of Covid-19 in 2020 had a harsh impact on most industries across Europe, where the automotive & tire markets were no exception. As governments across different European countries imposed stringent movement restrictions & lockdowns to curb the spread of this dreadful disease, the tire industry witnessed several unprecedented challenges. The cross-border trade limitations hampered the import of vehicles & tires as their sales significantly declined. As a result, prominent players in the market witnessed substantial financial losses owing to lower requirements for tires amidst the crisis as the majority of the people were spending only on essentials. Consequently, tire manufacturers reduced their production capacities, which, in turn, hampered the market growth. Key Player: Apollo Tires, Bridgestone, CEAT Tires, Continental, Giti, Goodyears Tires, Hankook, JK tires, Kenda Kumho, Maxxis International, Michelin, MRF, Nexen Tire Corp, Nokian Tires, Pirelli, Sailun Group Co., Ltd, Titan International , Toyo Tire Corporation, Triangle Tire Co, Zhongce Rubber Group Co, Yokohama, Doublestar Tire, Linglong, Nankang

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Manmayi Raval

Considered in the report • Geography: Europe • Base Year: 2023 • Historical year: 2018 • Forecasted Year: 2029 Countries covered • UK • Germany • France • Italy • Russia • Spain • Rest of Europe Aspects covered in the report • Market Size by Value (2018-2029F) • Market Size by Volume (2018-2029F) • Market Share by Vehicle Type • Market Share by End Use • Market Share by Design • Market Share by Sales Channel • Market Share by Country The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Automotive and Transport industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Companies Mentioned

  • Bridgestone
  • Apollo Tyres
  • Ceat Tyres
  • Continental
  • Giti Tire
  • Goodyear Tyres
  • Hankook Tire
  • JK Tyre
  • Kenda Rubber
  • Kumho Tires
  • Maxxis International
  • Michelin
  • MRF
  • Nexen Tire Corp
  • Nokian Tyres
  • Pirelli
  • Sailun Group Co., Ltd
  • Titan International
  • Toyo Tire Corporation
  • Triangle Tyre Co
  • Zhongce Rubber Group Co
  • Yokohama
  • Doublestar Tire
  • Linglong
  • Nankang

Table of Contents

  • 1. Executive Summary
  • 2. Research Methodology
  • 2.1. Secondary Research
  • 2.2. Primary Data Collection
  • 2.3. Market Formation & Validation
  • 2.4. Report Writing, Quality Check & Delivery
  • 3. Market Structure
  • 3.1. Market Considerate
  • 3.2. Assumptions
  • 3.3. Limitations
  • 3.4. Abbreviations
  • 3.5. Sources
  • 3.6. Definitions
  • 4. Economic /Demographic Snapshot
  • 5. Global Tyre Market Outlook
  • 5.1. Market Size By Value
  • 5.2. Market Share By Region
  • 5.3. Market Size and Forecast, By Vehicle Type
  • 5.4. Market Size and Forecast, By Design
  • 5.5. Market Size and Forecast, By End User
  • 5.6. Market Size and Forecast, By Sales Channel
  • 6. Europe Tyre Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Country
  • 6.3. Market Size and Forecast, By Vehicle Type
  • 6.4. Market Size and Forecast, By Design
  • 6.5. Market Size and Forecast, By End User
  • 6.6. Market Size and Forecast, By Sales Channel
  • 7. Market Dynamics
  • 7.1. Market Drivers & Opportunities
  • 7.2. Market Restraints & Challenges
  • 7.3. Market Trends
  • 7.3.1. XXXX
  • 7.3.2. XXXX
  • 7.3.3. XXXX
  • 7.3.4. XXXX
  • 7.3.5. XXXX
  • 7.4. Covid-19 Effect
  • 7.5. Supply chain Analysis
  • 7.6. Policy & Regulatory Framework
  • 7.7. Industry Experts Views
  • 7.8. Germany Tyre Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Vehicle Type
  • 7.8.3. Market Size and Forecast By Design
  • 7.8.4. Market Size and Forecast By End User
  • 7.8.5. Market Size and Forecast By Sales Channel
  • 7.9. United Kingdom Tyre Market Outlook
  • 7.9.1. Market Size By Value
  • 7.9.2. Market Size and Forecast By Vehicle Type
  • 7.9.3. Market Size and Forecast By Design
  • 7.9.4. Market Size and Forecast By End User
  • 7.9.5. Market Size and Forecast By Sales Channel
  • 7.10. France Tyre Market Outlook
  • 7.10.1. Market Size By Value
  • 7.10.2. Market Size and Forecast By Vehicle Type
  • 7.10.3. Market Size and Forecast By Design
  • 7.10.4. Market Size and Forecast By End User
  • 7.10.5. Market Size and Forecast By Sales Channel
  • 7.11. Italy Tyre Market Outlook
  • 7.11.1. Market Size By Value
  • 7.11.2. Market Size and Forecast By Vehicle Type
  • 7.11.3. Market Size and Forecast By Design
  • 7.11.4. Market Size and Forecast By End User
  • 7.11.5. Market Size and Forecast By Sales Channel
  • 7.12. Spain Tyre Market Outlook
  • 7.12.1. Market Size By Value
  • 7.12.2. Market Size and Forecast By Vehicle Type
  • 7.12.3. Market Size and Forecast By Design
  • 7.12.4. Market Size and Forecast By End User
  • 7.12.5. Market Size and Forecast By Sales Channel
  • 7.13. Russia Tyre Market Outlook
  • 7.13.1. Market Size By Value
  • 7.13.2. Market Size and Forecast By Vehicle Type
  • 7.13.3. Market Size and Forecast By Design
  • 7.13.4. Market Size and Forecast By End User
  • 7.13.5. Market Size and Forecast By Sales Channel
  • 8. Competitive Landscape
  • 8.1. Competitive Dashboard
  • 8.2. Business Strategies Adopted by Key Players
  • 8.3. Key Players Market Positioning Matrix
  • 8.4. Porter's Five Forces
  • 8.5. Company Profile
  • 8.5.1. Company 1
  • 8.5.1.1. Company Snapshot
  • 8.5.1.2. Company Overview
  • 8.5.1.3. Financial Highlights
  • 8.5.1.4. Geographic Insights
  • 8.5.1.5. Business Segment & Performance
  • 8.5.1.6. Product Portfolio
  • 8.5.1.7. Key Executives
  • 8.5.1.8. Strategic Moves & Developments
  • 8.5.2. Company 2
  • 8.5.3. Company 3
  • 8.5.4. Company 4
  • 8.5.5. Company 5
  • 8.5.6. Company 6
  • 8.5.7. Company 7
  • 8.5.8. Company 8
  • 8.5.9. Company 9
  • 8.5.10. Company 10
  • 8.5.11. Company 11
  • 8.5.12. Company 12
  • 9. Strategic Recommendations
  • 10. Annexure
  • 10.1. FAQ`s
  • 10.2. Notes
  • 10.3. Related Reports
  • 11. Disclaimer

Table 1: Global Tyre Market Snapshot, By Segmentation (2023 & 2029) (in USD Billion)
Table 2: Top 10 Counties Economic Snapshot 2022
Table 3: Economic Snapshot of Other Prominent Countries 2022
Table 4: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 5: Global Tyre Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 6: Global Tyre Market Size and Forecast, By Design (2018 to 2029F) (In USD Billion)
Table 7: Global Tyre Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 8: Global Tyre Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 9: Europe Tyre Market Size and Forecast, By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 10: Europe Tyre Market Size and Forecast, By Design (2018 to 2029F) (In USD Billion)
Table 11: Europe Tyre Market Size and Forecast, By End User (2018 to 2029F) (In USD Billion)
Table 12: Europe Tyre Market Size and Forecast, By Sales Channel (2018 to 2029F) (In USD Billion)
Table 13: Influencing Factors for Tyre Market, 2023
Table 14: Germany Tyre Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 15: Germany Tyre Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 16: Germany Tyre Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 17: Germany Tyre Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 18: United Kingdom Tyre Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 19: United Kingdom Tyre Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 20: United Kingdom Tyre Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 21: United Kingdom Tyre Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 22: France Tyre Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 23: France Tyre Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 24: France Tyre Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 25: France Tyre Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 26: Italy Tyre Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 27: Italy Tyre Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 28: Italy Tyre Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 29: Italy Tyre Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 30: Spain Tyre Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 31: Spain Tyre Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 32: Spain Tyre Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 33: Spain Tyre Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)
Table 34: Russia Tyre Market Size and Forecast By Vehicle Type (2018 to 2029F) (In USD Billion)
Table 35: Russia Tyre Market Size and Forecast By Design (2018 to 2029F) (In USD Billion)
Table 36: Russia Tyre Market Size and Forecast By End User (2018 to 2029F) (In USD Billion)
Table 37: Russia Tyre Market Size and Forecast By Sales Channel (2018 to 2029F) (In USD Billion)

Figure 1: Global Tyre Market Size (USD Billion) By Region, 2023 & 2029
Figure 2: Market attractiveness Index, By Region 2029
Figure 3: Market attractiveness Index, By Segment 2029
Figure 4: Global Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 5: Global Tyre Market Share By Region (2023)
Figure 6: Europe Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 7: Europe Tyre Market Share By Country (2023)
Figure 8: Germany Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 9: UK Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 10: France Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 11: Italy Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 12: Spain Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 13: Russia Tyre Market Size By Value (2018, 2023 & 2029F) (in USD Billion)
Figure 14: Competitive Dashboard of top 5 players, 2023
Figure 15: Porter's Five Forces of Global Tyre Market

Market Research FAQs

Europe Tire market is projected to expand with almost 5% CAGR for 2022-2027.

Above 300 million units of tires were consumed in Europe during the year of 2021.

The rising demand from high performance and electric vehicles are the key growth factors in the region.

The 3 Wheelers and other segment is expected to grow with the Highest CAGR of over 7% during the forecast period.

In 2021 the replacement category in the end use segment had the higher market share with value of USD 29 Billion.
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Europe Tyre Market Outlook, 2029

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