Europe Tire Market Size, Demand, Manufactures Analysis, Share And Revenue Forecast 2023-2028

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Europe Tire market Report 2023-2028 by IMARC Group

BROOKLYN, NY, USA, February 22, 2023 /einpresswire.com / -- The latest report published by IMARC Group, titled“Europe Tire Market: industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Europe tire market size reached 423.6 Million Units in 2022. Looking forward, IMARC Group expects the market to reach 503.5 Million Units by 2028, exhibiting a growth rate (CAGR) of 3.11% during 2023-2028.

Market Outlook:

A tire is an essential component of a vehicle that plays a crucial role in providing stability, comfort, and safety. It is a circular ring-shaped object that contains the wheel rim and is filled with compressed air. It is made using a combination of natural and synthetic rubber, wire, silica, carbon black, steel, and other materials. It works by transferring the weight of the vehicle from the axle to the ground and reducing vibrations, which improves the vehicle's stability and shock absorption. It offers various advantages, including improved traction and handling, better fuel efficiency, and longer tire lifespan. Currently, all-season, winter, and summer tires are some of the commonly available product variants.

Europe Tire Market Trends:

The rising demand for tires with exceptional performance, durability, and reliability and inflating consumer expenditure power are some of the key factors accelerating the tire market growth in europe . Moreover, the growing need for tires with improved sidewall puncture resistance and advanced shock-absorbing capabilities and burgeoning expenditures on luxury vehicles are fueling the market growth. Besides this, the surging middle-class population has increased the demand for crossover and sport utility vehicles, which is acting as another factor driving the market growth. Furthermore, the escalating concern about pollution levels has compelled the European Commission to introduce various programs to reduce carbon emissions, leading key market players to introduce eco-friendly tires, which, in turn, is creating a positive outlook for the market. Other factors, such as the increasing popularity of electric and autonomous vehicles and the rapidly expanding automobile industry, are positively supporting the market growth in the region.

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Europe Tire Market 2023-2028 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

.Michelin
.Bridgestone Corporation
.Continental AG
.Goodyear Tire & Rubber Company
.Sumitomo Corporation
.Pirelli C. S.p.A
.Yokohama Tire Corporation
.Hankook Tire & Technology Co. Ltd.
.Toyo Tire Corporation
.Kumho Tire Co., Ltd.

Key Market Segmentation

The report has segmented the Europe tire market on the basis of radial Vs. bias, end use, vehicle type, size, distribution channel and country.

Breakup by Radial Vs. Bias:

.Radial
.Bias

Breakup by End-Use:

.OEM
.Replacement

Breakup by Vehicle Type:

.Passenger Cars
.Light Commercial Vehicles
.Medium and Heavy Commercial Vehicles
.Two-Wheelers
.Three-Wheelers
.Off-The-Road (OTR)

Breakup by Size:

.Passenger Cars
oMarket Breakup by Rim Size
oMarket Breakup by Tire Size
oMarket Breakup by Price Range

.Light Commercial Vehicles
oMarket Breakup by Rim Size
oMarket Breakup by Tire Size
oMarket Breakup by Price Range

.Medium and Heavy Commercial Vehicles
oMarket Breakup by Rim Size
oMarket Breakup by Tire Size
oMarket Breakup by Price Range

.Two Wheelers
oMarket Breakup by Rim Size
oMarket Breakup by Tire Size
oMarket Breakup by Price Range

.Off- The- Road (OTR)
oMarket Breakup by Rim Size
oMarket Breakup by Tire Size
oMarket Breakup by Price Range

.Three-Wheelers
oMarket Breakup by Rim Size
oMarket Breakup by Tire Size
oMarket Breakup by Price Rang

Breakup by Distribution Channel:

.Offline
.Online

Breakup by Country:

.Germany
.United Kingdom
.Spain
.France
.Italy
.Russia
.Turkey
.Netherlands
.Belgium
.Others

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures:

Key Highlights of the Report:

.Market Performance (2017-2022)
.Market Outlook (2023-2028)
.Market Trends
.Market Drivers and Success Factors
.Impact of COVID-19
.Value Chain Analysis
.Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
email us here

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