Press Release

Europe & CIS Tire Market to Cross $ 51 Billion by 2023

Rising urbanization and expanding automobile fleet size coupled with growing sales of automobiles to drive Europe & CIS tire market through 2023

According to TechSci Research report, Europe & CIS Tire Market By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Country, Competition Forecast & Opportunities, 2013 – 2023”, Europe & CIS tire market is forecast to cross $ 51 billion by 2023. Increasing demand for tires from OEMs and growing tire sales in the replacement market, in addition to rising per capita income and anticipated launch of new vehicles, are few of the factors that are expected to boost tire sales across the region. Various multinational companies such as Michelin, Goodyear, Continental, Bridgestone, Pirelli, etc., are expected to further increase their market penetration in Europe & CIS in the coming years.

Browse 225 market data Figures and Tables spread through 232 Pages and an in-depth TOC on “Europe & CIS Tire Market"


In 2017, the passenger car tire segment dominated the Europe & CIS tire market, followed by light commercial vehicle tire, medium & heavy commercial vehicle tire, two-wheeler tire and off-the-road tire segments. Passenger car tire segment is anticipated to maintain its market dominance over the next five years as well, owing to growing passenger car production in the region. Germany accounts for the largest share in the region’s tire market, primarily due to huge existing fleet of passenger cars in the country. Being one of the major exporting hubs for automobile producers, Germany’s automotive industry is known worldwide for its high-quality automobile manufacturing. Moreover, the country is the fourth largest in terms of total vehicle production, globally, after China, US and Japan. High vehicle ownership coupled with moderate growth in new vehicle sales is expected to continue boosting tire sales in Germany in the coming years.

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“Over the last few years, the Europe & CIS automotive industry has witnessed a considerable increase in demand for passenger cars, commercial vehicles, two-wheelers and OTR vehicles, which has been boosting tire sales in the region. This trend is expected to prevail with growth in tire production and demand over the next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe & CIS Tire Market By Vehicle Type, By Demand Category, By Radial Vs. Bias, By Country, Competition Forecast & Opportunities, 2013 – 2023” has analyzed the potential of tire market across the Europe & CIS region, and provides statistics and information on market size, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyses emerging trends along with essential drivers and key challenges faced by the industry.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.


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