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GlobeNewswireEurope tire market stood at USD 409.53 Billion in 2019 and is projected to reach USD 450.56 Billion by 2025
Europe Tire Market, By Vehicle Type (PC, LCV, M&HCV;, 2W & OTR), By Online Vs Offline, By Radial Vs Bias, By Demand Category (OEM Vs Replacement), By Country, Competition, Forecast & Opportunities, 2025New York, Dec. 11, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Tire Market, By Vehicle Type, By Online Vs Offline, By Radial Vs Bias, By Demand Category, By Country, Competition, Forecast & Opportunities, 2025" - https://www.reportlinker.com/p05995463/?utm_source=GNW Europe tire market stood at USD 409.53 Billion in 2019 and is projected to reach USD 450.56 Billion by 2025, on account of increasing tire production capacity, growing vehicle sales and expanding automobile fleet in the region. Moreover, increasing per capita income and subsidies on the purchase of electric vehicles are few of the other factors that are expected to aid the tire market in Europe in the coming years. Tire sales plummeted by more than 10% in the first half of 2020; but initiatives taken by the countries present in the region in the form of stimulus package are expected to benefit automotive sector. For instance, on 26 May 2020, French government announced stimulus package worth USD 9.47 billion to rescue the automotive industry and boost electric vehicle sales; thereby, driving the tire market through 2025. Europe tire market can be segregated based on vehicle type, online vs offline, radial vs bias, and demand category. Based on radial vs bias, the tire market is dominated by radial tire segment with market share of 91.53% in 2019 and the trend is likely to continue through 2025. Radial tires offer several benefits over bias tires, such as better mileage, lesser fuel consumption and better road grip. Thus, consumers in the country mostly prefer radial tires. The major players operating in the Europe tire market include Compagnie Générale des Établissements Michelin, Goodyear Dunlop Tires Europe B.V., Continental Aktiengesellschaft, Bridgestone Europe NV/SA, Pirelli & C. S.p.A., Nokian Tyres Plc, Yokohama Europe GmbH, Hankook Reifen Deutschland GmbH, Apollo Vredestein B.V., and Cooper Tire & Rubber Company Europe Limited. Major companies are developing advanced technologies in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions. Years considered for this report: Historical Years: 2015-2018 Base Year: 2019 Estimated Year: 2020 Forecast Period: 2021–2025 Objective of the Study: • To analyze and forecast the market size of Europe Tire market. • To classify and forecast Europe Tire market based on vehicle type, online vs offline, radial vs bias, demand category, and regional distribution. • To identify drivers and challenges for Europe Tire market. • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Europe Tire market. • To identify and analyze the profile of leading players operating in the Europe Tire market. The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe. Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors. Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major manufacturers across the globe. The analyst calculated the market size of Europe Tire market by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst. Key Target Audience: • Tire manufacturers, suppliers, distributors and other stakeholders • Research organizations and consulting companies • Trade associations, organizations, forums and alliances related to Tire • Government bodies such as regulating authorities and policy makers • Industry associations The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities. Report Scope: In this report, Europe Tire market has been segmented into following categories, in addition to the industry trends which have also been detailed below: • Market, by Vehicle Type: o Passenger Car (PC) o Light Commercial Vehicle (LCV) o Medium & Heavy Commercial Vehicle (M&HCV) o Two-Wheeler o Off-the-Road • Market, by Demand Category: o OEM o Replacement • Market, by Online Vs Offline • Market, by Radial Vs Bias • Market, by Country: o Germany o United Kingdom o France o Spain o Italy o Poland o Netherlands o Belgium o Slovakia o Hungary o Romania o Slovenia • Rest of Europe Competitive Landscape Company Profiles: Detailed analysis of the major companies present in Europe Tire market Available Customizations: With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report: Company Information • Detailed analysis and profiling of additional market players (up to five). Read the full report: https://www.reportlinker.com/p05995463/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001