Report Overview

Europe Advanced Tire Market – Industry Trends & Forecast Report, 2030

Europe Advanced Tire Market size was estimated at USD 363.03 million in 2023. During the forecast period between 2024 and 2029, the size of Europe Advanced Tire Market is projected to grow at a CAGR of 16.20% reaching a value of USD 893.62 million by 2030. Europe Advanced Tire Market is poised for growth driven by increasing attention to reduce carbon footprints. The surge in demand for convenience and driver assistance adds momentum to the growth trajectory. Additionally, the escalating maintenance and spare costs of traditional OTR tires act as a supportive factor. Conversely, the expansion faces hurdles due to the rising initial investment costs. The Europe Advanced Tires Market stands to benefit from the increasing need for industrial automation and the rise of autonomous and semi-autonomous vehicles.

Advanced Tire – Overview

Advanced tire is a cutting-edge automotive technology that integrates innovative materials and design to enhance vehicle performance and safety. Employing state-of-the-art compounds, the tires offer superior traction, durability, and fuel efficiency. Their advanced tread patterns and structural enhancements ensure optimal grip in various road conditions. Additionally, some models incorporate smart features like sensor integration for real-time monitoring of tire health. With a focus on sustainability, advanced tires often prioritize eco-friendly materials and manufacturing processes. Overall, high-tech tires redefine driving experiences by delivering improved efficiency, safety, and environmental consciousness.

Europe Advanced Tire Market

Growth Drivers

Surging Demand for Advanced Tires as Consumers Prioritize Safety and Performance

Amidst evolving automotive landscapes, the Europe Advanced Tire Market witnesses robust growth driven by an escalating consumer inclination toward enhanced safety and performance. The demand surge reflects a paradigm shift in buyer preferences, favoring innovative tire technologies that prioritize road safety but also superior performance. The pivotal trend catapults the market forward, positioning advanced tire solutions at the forefront of the European automotive industry's evolution.

Over the forecasted period, a spurring demand from the agriculture sector for state-of-the-art tires, with the fastest growth anticipated in tractors. The traction is attributed to the confluence of factors, including a shortage of labor and an upswing in average farm size, elevating overall labor costs. Consequently, there is a noteworthy spike in agricultural mechanization and an escalating need for high-powered tractors. The robust machines are projected to be early adopters of advanced tires. Noteworthy benefits, such as amplified traction, soil compaction mitigation, and heightened fuel efficiency, position advanced tires as key players in enhancing agricultural practices. Recognizing this, European nations prioritize tractors equipped with innovative tire technology to boost farm efficiency and productivity.

Challenges

Limited Consumer Awareness

Limited consumer awareness poses a significant hurdle for the Europe Advanced Tire Market. Despite technological advancements and superior tire offerings, a lack of awareness among consumers could hamper market expansion. The industry must prioritize comprehensive awareness campaigns and education initiatives to inform potential buyers about the benefits and features of advanced tire technologies, fostering increased adoption and driving the market toward sustained growth.

Impact of Escalating Geopolitical Tensions on Europe Advanced Tire Market

Escalating geopolitical tensions in Europe cast a shadow on the region's Advanced Tire Market, impacting supply chains and market dynamics. The sanctions imposed on Russia, a major player in the tire industry, have disrupted raw material flows, leading to increased production costs. Additionally, political uncertainties surrounding Brexit have influenced trade relations, affecting tire exports and imports. The Ukraine crisis and strained relations with neighboring countries further contribute to market volatility. The geopolitical factors have prompted European tire manufacturers to reassess their strategies, navigate regulatory challenges, and seek alternative supply chains to ensure resilience in the face of evolving geopolitical landscapes.

Europe Advanced Tire Market

Segmental Coverage

Europe Advanced Tire Market– By Material

Based on material, Europe Advanced Tire Market is divided into Natural Rubber, Synthetic Rubber, Steel, and Elastomers segments. The synthetic rubber segment is the largest material segment in the Europe Advanced Tire Market. The segment holds a prominent position in the market, reflecting the region's increased preference for advanced tire technologies. The synthetic rubber's robust properties and adaptability contribute to its significant market share, driving innovations and growth in the European Advanced Tire Industry.

Europe Advanced Tire Market – By Type

By type, Europe Advanced Tire Market is divided into Pneumatic Tires, Run Flat Tires, and Airless Tires segments. The pneumatic tires segment holds a dominant position in the market. Pneumatic tires, known for their versatility and widespread use in various vehicles, contribute significantly to the overall market share. The segment's popularity is attributed to its ability to provide a smooth and comfortable ride, making it a preferred choice for diverse applications across the European automotive industry.

Europe Advanced Tire Market – By Technology

By technology, Europe Advanced Tire Market is divided into Chip Embedded Tires, Self-Inflating Tires, Multi Chamber Tires, and All in One Tires segments. The chip-embedded tires segment is the highest contributor to the growth of Europe Advanced Tire Market. The innovative tire technology, integrating advanced chips for enhanced performance, has gained prominence, driving the growth of the overall market in Europe. The demand for chip embedded tires is propelled by their ability to offer improved safety, performance, and smart functionalities, making them a key contributor to the advancements in the European tire market.

Europe Advanced Tire Market – By Vehicle Type

By vehicle type, Europe Advanced Tire Market is divided into Light Duty Vehicles, Heavy Duty Vehicles, Agricultural Tractors, Construction & Mining Equipment, and Industrial Equipment. The light-duty vehicles segment holds the largest market share in the Europe Advanced Tire Market. The segment encompasses various automobiles designed for personal and commercial use, including cars, vans, and small trucks. The demand for advanced tires in the light-duty vehicle segment is driven by the widespread adoption of advanced technologies and the need for enhanced performance and safety features. As consumers prioritize efficient and innovative tire solutions for their everyday transportation needs, the light-duty vehicles segment stands out as the dominant force shaping the landscape of the Advanced Tire Market in Europe.

Europe Advanced Tire Market – By Country

By country, Europe Advanced Tire Market is divided into Germany, United Kingdom, Italy, France, Spain, Belgium, Russia, the Netherlands, and Rest of Europe. Germany stands out as the leading country, driving significant market growth. With its robust automotive industry and advanced technology adoption, Germany plays a pivotal role in shaping the region's advanced tire market. The country's emphasis on innovations, coupled with a strong demand for high-performance and eco-friendly tires, positions Germany as a key influencer in the evolving landscape of advanced tire technologies across Europe.

Competitive Landscape

Major players in the Europe Advanced Tire Market include Michelin, Continental, Yokohama Europe GmbH, Bridgestone, Goodyear, MRF, Pirelli, Wanli Tyre Group, TVS Tyre, and Panther Tyres. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Europe Advanced Tire Market.

Scope of Report

By Material

• • Natural Rubber

  • Synthetic Rubber

  • Steel

  • Elastomers

By Type

• • Pneumatic Tires

  • Run Flat Tires

  • Airless Tires

By Technology

• • Chip Embedded Tires

  • Self-Inflating Tires

  • Multi Chamber Tires

  • All in One Tires

By Vehicle Type

• • Light Duty Vehicles

  • Heavy Duty Vehicle

  • Agricultural Tractors

  • Construction & Mining Equipment

  • Industrial Equipment

By Country

• Germany

• United Kingdom

• Italy

• France

• Spain

• Belgium

• Russia

• The Netherlands

• Rest of Europe

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Europe Advanced Tire Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Growing consumer preference for safety and performance
         2. Increasing demand for electric vehicles
      2. Restraints
         1. High cost associated with advanced tires
         2. Limited consumer awareness
      3. Opportunities
         1. Rising demand for premium tires
         2. Development of new technologies
      4. Challenges
         1. Increasing competition
         2. Fluctuations in raw material prices
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Europe Advanced Tire Market Overview
   1. Market Size & Forecast by Value, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Material
         1. Natural Rubber
         2. Synthetic Rubber
         3. Steel
         4. Elastomers
         5. Others
      2. By Type
         1. Pneumatic Tires
         2. Run Flat Tires
         3. Airless Tires
         4. Others
      3. By Technology
         1. Chip Embedded Tires
         2. Self-Inflating Tires
         3. Multi Chamber Tires
         4. All in One Tires
         5. Others
      4. By Vehicle Type
         1. Light Duty Vehicles
         2. Heavy Duty Vehicle
         3. Agricultural Tractors
         4. Construction and Mining Equipment
         5. Industrial Equipment
      5. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Belgium
         7. Russia
         8. The Netherlands
         9. Rest of Europe
5. Germany Advanced Tire Market Overview
   1. Market Size & Forecast by Value, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Material
      2. By Type
      3. By Technology
      4. By Vehicle Type
6. United Kingdom Advanced Tire Market Overview
   1. Market Size & Forecast by Value, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Material
      2. By Type
      3. By Technology
      4. By Vehicle Type
7. Italy Advanced Tire Market Overview
   1. Market Size & Forecast by Value, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Material
      2. By Type
      3. By Technology
      4. By Vehicle Type
8. France Advanced Tire Market Overview
   1. Market Size & Forecast by Value, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Material
      2. By Type
      3. By Technology
      4. By Vehicle Type
9. Spain Advanced Tire Market Overview
   1. Market Size & Forecast by Value, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Material
      2. By Type
      3. By Technology
      4. By Vehicle Type
10. Belgium Advanced Tire Market Overview
    1. Market Size & Forecast by Value, 2019–2030
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Material
       2. By Type
       3. By Technology
       4. By Vehicle Type
11. Russia Advanced Tire Market Overview
    1. Market Size & Forecast by Value, 2019–2030
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Material
       2. By Type
       3. By Technology
       4. By Vehicle Type
12. The Netherlands Advanced Tire Market Overview
    1. Market Size & Forecast by Value, 2019–2030
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Material
       2. By Type
       3. By Technology
       4. By Vehicle Type
13. Rest of Europe Advanced Tire Market Overview
    1. Market Size & Forecast by Value, 2019–2030
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Material
       2. By Type
       3. By Technology
       4. By Vehicle Type
14. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Europe Advanced Tire Market Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
15. Impact of Escalating Geopolitical Tensions on Europe Advanced Tire Market
16. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Michelin
    2. Continental
    3. Yokohama Europe GmbH
    4. Bridgestone
    5. Goodyear
    6. MRF
    7. Pirelli
    8. Wanli Tyre Group
    9. TVS Tyre
    10. Panther Tyres
    11. Other Prominent Players
17. Key Strategic Recommendations
18. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumption & Limitation

*Financial information of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1   Europe Advanced Tire Segmentation

Figure 2   Europe Advanced Tire Market Value Chain Analysis

Figure 3   Company Market Share Analysis, 2023

Figure 4   Europe Advanced Tire Market Size, By Value (USD Million), 2019–2030

 Figure 5  Europe Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 6   Europe Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 7   Europe Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 8   Europe Advanced Tire Market Share, By End user, By Value, 2019–2030

Figure 9   Europe Advanced Tire Market Share, By Country, By Value, 2019–2030

Figure 10 Germany Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 11     Germany Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 12     Germany Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 13     Germany Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 14     Germany Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 15    United Kingdom Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 16    United Kingdom Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 17    United Kingdom Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 18    United Kingdom Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 19    United Kingdom Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 20    Italy Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 21    Italy Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 22    Italy Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 23    Italy Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 24    Italy Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 25    France Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 26 France Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 27    France Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 28    France Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 29    France Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 30    Spain Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 31    Spain Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 32    Spain Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 33    Spain Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 34    Spain Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 35    Belgium Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 36    Belgium Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 37    Belgium Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 38    Belgium Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 39    Belgium Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 40     Russia Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 41    Russia Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 42    Russia Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 43    Russia Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 44    Russia Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 45    The Netherlands Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 46    The Netherlands Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 47    The Netherlands Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 48    The Netherlands Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 49    The Netherlands Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Figure 50    Rest of Europe Advanced Tire Market Size, By Value (USD Million), 2019–2030

Figure 51    Rest of Europe Advanced Tire Market Share, By Material, By Value, 2019–2030

Figure 52    Rest of Europe Advanced Tire Market Share, By Type, By Value, 2019–2030

Figure 53 Rest of Europe Advanced Tire Market Share, By Technology, By Value, 2019–2030

Figure 54    Rest of Europe Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

List of Tables

Table 1      Europe Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 2      Europe Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 3      Europe Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 4      Europe Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 5      Europe Advanced Tire Market Size, By Country, By Value, 2019–2030

Table 6      Germany Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 7      Germany Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 8      Germany Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 9      Germany Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 10    United Kingdom Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 11    United Kingdom Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 12    United Kingdom Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 13    United Kingdom Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 14    Italy Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 15    Italy Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 16    Italy Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 17    Italy Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 18    France Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 19    France Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 20    France Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 21    France Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 22    Spain Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 23    Spain Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 24    Spain Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 25    Spain Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 26    Belgium Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 27    Belgium Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 28    Belgium Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 29    Belgium Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 30      Russia Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 31    Russia Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 32    Russia Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 33    Russia Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 34    The Netherlands Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 35    The Netherlands Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 36    The Netherlands Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 37    The Netherlands Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 38    Rest of Europe Advanced Tire Market Share, By Material, By Value, 2019–2030

Table 39    Rest of Europe Advanced Tire Market Share, By Type, By Value, 2019–2030

Table 40    Rest of Europe Advanced Tire Market Share, By Technology, By Value, 2019–2030

Table 41    Rest of Europe Advanced Tire Market Share, By Vehicle Type, By Value, 2019–2030

Table 42    Michelin Company Overview

Table 43    Michelin Financial Overview

Table 44    Continental Company Overview

Table 45    Continental Financial Overview

Table 46    Yokohama Europe GmbH Company Overview

Table 47    Yokohama Europe GmbH Financial Overview

Table 48    Bridgestone Company Overview

Table 49    Bridgestone Financial Overview

Table 50    Goodyear Company Overview

Table 51    Goodyear Financial Overview

Table 52    MRF Company Overview

Table 53    MRF Financial Overview

Table 54    Pirelli Company Overview

Table 55    Pirelli Financial Overview

Table 56    Wanli Tyre Group Company Overview

Table 57    Wanli Tyre Group Financial Overview

Table 58    TVS Tyre Company Overview

Table 59    TVS Tyre Financial Overview

Table 60    Panther Tyres Company Overview

Table 61    Panther Tyres Financial Overview