Europe Tire Market to Grow with a CAGR of 3.84% through 2030
Growing vehicle ownership across urban and rural areas,
rising demand for advanced tires in electric and connected vehicles, and
increasing focus on fuel efficiency and sustainability are the factors driving
the market in the forecast period 2026–2030.
According to TechSci Research report, “Europe Tire
Market –By Region, Competition, Opportunities and Forecast, 2020-2030F”,
The Europe Tire Market was valued at USD 50.35 Billion in 2024 and is expected
to reach USD 63.13 Billion by 2030 with a CAGR of 3.84% during the forecast
period. The tire market in Europe is progressing on the back of increasing
vehicle numbers, consumer awareness around safety and efficiency, and the
rollout of innovative tire designs. Vehicle manufacturers and end-users are
placing growing emphasis on quality and longevity, encouraging greater adoption
of tires with advanced tread patterns and performance technologies. Legislated
requirements around labeling, fuel economy, and seasonal performance are
prompting shifts in both product development and purchasing patterns.
Electrification trends and the digitization of mobility
services are influencing tire engineering, especially with the need for
specialized EV-compatible tires. Tires with embedded digital capabilities,
combined with materials sourced through sustainable methods, are gaining favor
across segments. Consumer interest is rising in multi-season tire options that
offer practical alternatives to seasonal changes, driving a transformation in
the replacement segment.
Despite this growth, the market faces challenges related to
raw material costs, regulatory compliance, and increasing environmental
responsibility. Disruptions in production cycles, coupled with pricing
volatility and competitive pressure, are key factors companies must navigate in
the coming years.
Browse over Europe Tire Market data Figures spread through
XX Pages and an in-depth TOC on " Europe Tire Market"
Europe Tire Market is Segmented By Vehicle Type, By
Demand Category, By Tire Construction Type, and By Region.
The Europe tire market is divided into two major demand
categories: original equipment manufacturer (OEM) and replacement. OEM demand
is driven by tire fitment in new vehicles at the manufacturing stage. This
segment is directly influenced by automobile production levels, technology
adoption in new vehicles, and design partnerships between tire producers and
automakers. Tire specifications for OEM fitments are tailored to meet the
specific performance, fuel efficiency, and safety requirements set by vehicle
manufacturers. Product quality, performance validation, and integration with
advanced driver-assistance systems play a crucial role in OEM procurement
decisions. OEM tires serve as a benchmark of trust and performance for end
consumers and often shape brand preferences in the replacement cycle.
The replacement tire segment is supported by the existing
vehicle population, frequent tire wear due to changing weather conditions, and
the need for regular maintenance and safety upgrades. This segment is broader
in terms of consumer base and product diversity. Buyers in this category
include individual car owners, fleet operators, and commercial transporters who
seek tires based on cost-effectiveness, longevity, and road performance. The
replacement market allows for more flexible brand switching and value-based
purchasing, which supports a wider spectrum of pricing and distribution
strategies. Innovations in tread life, grip, and fuel-saving features often
debut in this segment, making it a dynamic space for product trials and
promotions.
In 2024, United Kingdom is emerging as the fastest growing
country in the European tire market. Rising motorization rates, infrastructure
upgrades, and increasing household income contributed to a surge in vehicle
ownership and usage. Expanding logistics and freight activities are driving
demand for commercial vehicle tires, while the growth of suburban and rural
connectivity is encouraging higher mobility across passenger vehicles.
Consumers are showing rising awareness of tire quality, safety, and regulatory
compliance, influencing a shift from low-grade imports to performance-oriented
products. The development of road networks and cross-border transport
routes has further intensified the need for durable tires suited for mixed
driving conditions. Government have increased investment in road infrastructure
and promoted safety regulations that encourage seasonal tire usage. This is
fostering year-round demand, particularly for winter and all-season tires. The
penetration of electric vehicles and hybrid cars, though at an early stage, is
also prompting interest in new-generation tires optimized for EV applications.
Major Market Players Operating in Europe Tire Market Are:
- Manufacture
Française des Pneumatiques Michelin
- Continental
AG
- Pirelli
& C. S.p.A.
- BRIDGESTONE
EUROPE NV
- Goodyear
Tyre & Rubber Company
- Kumho
Tire Europe GmbH
- Nokian
Tyres plc
- Cooper
Tire & Rubber Company Europe Limited
- Yokohama
Europe GmbH
- Hankook
Tire & Technology Co., Ltd.
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“The Europe tire market is experiencing steady growth driven
by rising vehicle ownership, advancements in tire technologies, and increasing
demand for sustainable and high-performance products. Electrification and
digitalization of vehicles are reshaping tire specifications, especially in the
replacement segment. The market is segmented by OEM and replacement categories,
each responding to evolving mobility and regulatory trends”, said Mr.
Karan Chechi, Research Director of TechSci Research, a research based global
management consulting firm.
“Europe Tire Market By Vehicle Type (Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicles (M&HCV), Off-the-Road Vehicles (OTR), Two-Wheelers, Three-Wheelers), By Demand Category (OEM vs Replacement), By Tire Construction Type (Radial vs Bias), By Region, By Competition, Opportunities and Forecast, 2020-2030F”, assesses the market's future growth potential and
provides data on market size, trends, and forecasts. It aims to offer comprehensive
market insights, helping decision-makers make informed investment choices. The
report also highlights emerging trends, key drivers, challenges, and
opportunities in the Europe Tire Market.
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