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Europe Automotive Tire Aftermarket Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Tire Type (Radial Tire and Bias Tire), Distribution Channel (OES and IAM), and Rim Size (13–15, 16–18, 19–21, and More than 21)       

Report Code :  BMIRE00025056
No. of Pages :  140
Published Month :  Jun 2022
Category :  Automotive and Transportation
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The automotive tire aftermarket market in Europe is expected to grow from US$ 28,177.04 million in 2021 to US$ 40,368.78 million by 2028; it is estimated to grow at a CAGR of 5.3% from 2021 to 2028.

Germany, France, the UK, and Italy are among the major economies in Europe. The automotive industry contributes 7% to Europe’s GDP. The market's expansion may be linked to the flourishing European automotive sector and a rise in tire replacement rates owing to longer vehicle lifespans. Furthermore, strict European Union (EU) rules, the increased average age of operational cars, and a surge in demand for green tires contribute to Automotive Tire Aftermarket development. Furthermore, Europe is an essential market for automobiles in the 21st century, with a large consumer market, a highly skilled workforce, favorable infrastructure development, and local & state government incentives. All these factors are driving the growth of the European Automotive Tire Aftermarket. Furthermore, ISO 28580 tests tire rolling resistance throughout the EU, which regulates heavy-duty vehicle tire rolling resistance in California. The wet grip test technique of the United Nations Economic Commission for Europe (UN ECE) Regulation 117 is widely utilized in Europe to improve this element of safety.

Tires play a critical role in reducing pollutants and improving fuel efficiency. In addition, leading tire producers and automakers have teamed up to develop next-generation environmental-friendly tires. Furthermore, the European Commission has established CO2 emission requirements for passenger cars and commercial vehicles, which is likely to encourage the use of green tires in the region's OEM and aftermarket. 

 

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe automotive tire aftermarket market, which is expected to grow at a decent CAGR during the forecast period.

 

Europe Automotive Tire Aftermarket Market Revenue and Forecast to 2028 (US$ Million)


Europe Automotive Tire Aftermarket Market Segmentation

The Europe automotive tire aftermarket market is segmented into tire type, distribution channel, rim size, and country. The Europe automotive tire aftermarket market, based on tire type, is bifurcated into radial and bias. The radial segment held a larger market share in 2020. In terms of distribution channel, the Europe automotive tire aftermarket market is bifurcated into OES and IAM. The IAM segment held a larger market share in 2020. Based on rim size, the Europe automotive tire aftermarket market is segmented into 13–15, 16–18, 19–21, and more than 21. The 13–15 segment held the largest market share in 2020. Based on country, the Europe automotive tire aftermarket market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe.

 

Apollo Tires Ltd; Bridgestone Corporation; Continental AG; Michelin; NEXEN TIRE AMERICA INC; PIRELLI and C. S.P.A.; Sumitomo Rubber Industries, Ltd.; The Goodyear Tire and Rubber Company; Yokohama Rubber Co., Ltd; and ZHONGCE RUBBER GROUP CO. LTD. are among the leading companies in the Europe automotive tire aftermarket market.  

  1. Apollo Tires Ltd
  2. Bridgestone Corporation
  3. Continental AG
  4. Michelin
  5. NEXEN TIRE AMERICA INC
  6. PIRELLI and C. S.P.A.
  7. Sumitomo Rubber Industries, Ltd.
  8. The Goodyear Tire and Rubber Company
  9. Yokohama Rubber Co., Ltd
  10. ZHONGCE RUBBER GROUP CO. LTD.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe automotive tire aftermarket market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the Europe automotive tire aftermarket market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the automotive tire aftermarket market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution


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