Europe Tire Market 2021-2026

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    EUROPE TIRE MARKET

     

    INTRODUCTION

    Tires are robust and flexible rubber casings that are available and employed in a variety of industrial segments where a firm support for vehicular motions is necessary.

     

    Most car tyres are pneumatic, which means that air is retained under pressure inside the tyre. Pneumatic tyres used to have an inner tube to keep the air pressure, but today they are engineered to establish a pressure seal with the wheel rim.

     

    Heavy duty trucks, buses, aircraft landing gear, tractors and other agricultural equipment, industrial vehicles such as forklifts, and ordinary modes of transportation such as baby carriages, shopping carts, wheelchairs, bicycles, and motorbikes all utilise tyres.

     

    Tire acquisition and disposal impose significant financial and waste pressures on individual car owners and fleet managers. Along with these, fleet staff and individual drivers’ behaviour, attitudes, and practises are related to tyre properties and technology.

     

    Natural rubber is the primary raw material used in tyre production, while synthetic rubber is sometimes used. However, in order to achieve the desired properties of strength, resilience, and wear resistance, the rubber must be treated with a variety of chemicals and then heated.

     

    Tires are made as part of a fundamental and maximise utilisation by wrapping many layers of carefully designed rubber around a metal drum in a tire-forming machine.

     

    The tire’s various components are transported to the forming machine, where an experienced assembler cuts and arranges the strips to make the various elements of the tyre, which is now referred to as a “green tyre.”

     

    The metal drum collapses when a green tyre is done, allowing the tyre assembler to remove the tyre. The green tyre is then placed in a mould to cure.

     

     

    infographic: Europe Tire Market , Europe Tire Market Size, Europe Tire Market Trends, Europe Tire Market Forecast, Europe Tire Market Risks, Europe Tire Market Report, Europe Tire Market Share

     

     

    Tires have seen several technical breakthroughs from the early days of the car. Improvements in raw materials and chemical compounds have resulted in more effective tyres.

     

    Whether it’s compounds that provide greater traction in snow and ice or compounds that aid wet handling, technology is always improving tyre performance.

     

                         

    EUROPE TIRE MARKET DYNAMICS

    Tyres are a car’s single point of contact with the road surface, hence they are crucial for safety, rolling resistance, rolling noise, and other vehicle performance. This is legal under EU legislation since the present tyre limitations are much lower than the state of the art.

     

    In the short term, the criteria for tightening the tyres are limited to the existing state of the art. Longer term, it is suggested to tighten the tyre restrictions using the best available technology in order to stay up with the rapidly increasing tyre technology.

     

    There has been a rise in the amount of material recycled, and the industry is evenly divided between recycling and energy recovery.

     

    This exemplifies the need for a balance between the ease of dealing with discarded tyres through energy recovery, a rapid and cost-effective option, and recycling systems in which the recovered elements may be utilised and reused.

     

    In recent market trends, the European Union states have been focused on tyre manufacture in more recycled and green effective ways.

     

    The tyre recycling industry would benefit from more open government consideration, such as encouraging Green Public Procurement and establishing a recycled materials quota for public organisations.

     

    The digital era, also known as the 4.0 industry, is present in all sectors of the economy, making significant contributions to its growth. The automotive industry is undergoing transformation, which is affecting all of its sub-industries, including the automotive tyre business.

     

     

    infographic: Europe Tire Market, Europe Tire Market Size, Europe Tire Market Trends, Europe Tire Market Forecast, Europe Tire Market Risks, Europe Tire Market Report, Europe Tire Market Share

     

    The EU has been experiencing a process in which huge corporations no longer offer a simple automobile or basic tyres, but instead use new technology and digitalization to provide complicated services suited to clients’ demands.

     

    The European tyre sector has various statutory criteria, such as winter tyres. Drivers must have winter tyres on their vehicles when driving on public roads covered in snow or ice, according to the GO 5/2011 and the Law 161/2011.

     

    There are rules in place at the European level for the 16 nations that have enacted this law. This expands the much-needed tyre market and ensures that tyres are included in the industry as necessary.

     

     

    EUROPE TIRE MARKET SEGMENTATION

    The Europe Tire market can be segmented into following categories for further analysis.

    By Vehicle type

    • Passenger Cars
    • LCV
    • LMV
    • Heavy and Medium Commercial Vehicles
    • 2 Wheelers
    • 3 Wheelers
    • Off the Road Vehicles

     

    By Vehicle type

    • Electric Vehicle
    • Hybrid Vehicle
    • Fossil Fuel Vehicle
    • Specialized Fuel Vehicle
    • Gas Based Vehicle

     

    By Tyre Construction

    • Radial Tyres
    • Bias Tyres
    • Composite Tyres

     

    By Regional Classification

    • Austria
    • Belgium
    • Bulgaria
    • Croatia
    • Republic of Cyprus
    • Czech Republic
    • Denmark
    • Estonia
    • Finland
    • France
    • Germany
    • Greece
    • Hungary
    • Ireland
    • Italy
    • Latvia
    • Lithuania
    • Luxembourg
    • Malta
    • Netherlands
    • Poland
    • Portugal
    • Romania
    • Slovakia
    • Slovenia
    • Spain
    • Sweden

     

    RECENT TECHNOLOGICAL TRENDS IN EUROPE TIRE MARKET

    Vehicle tyres have become increasingly important in recent years, as they propel the capabilities and requirements to operate on a variety of terrains and surfaces.

     

    infographic: Europe Tire Market, Europe Tire Market Size, Europe Tire Market Trends, Europe Tire Market Forecast, Europe Tire Market Risks, Europe Tire Market Report, Europe Tire Market Share

     

    As a result, it is critical to have an effective system for recycling and integrating new features in order to better comply with the most recent regulations.

     

    Run-flat tyre technology is one of the most complete technological developments of the modern tyre period. Run-flat technology enables drivers who have lost air due to a puncture or cut in their tyre to go about 50 miles at 50 mph to a safe spot to change the tyre.

     

    There have been advancements made to minimise the operating sound produced during the running of tyres, with an emphasis on reducing sound perception within the vehicle.

     

    The sound perception within the car has been reduced by a significant amount, around 10 dBA. Vehicle technology, like tyre technology, is evolving at a breakneck pace.

     

    New vehicle types present new problems for tyre manufacturers, while new material research and tyre designs result in greener and more sustainable products. The introduction of the most recent EV and Hybrid-based cars as propulsion units has been the primary emphasis.

     

    Electric vehicle tyres include foam penetration into the tyres to provide a quiet and silent running on the tyres. This was done as part of the vehicle’s acoustic criteria, due to the vehicles’ minimal sound / noise generation during operations.

     

    Intelligent tyres with sensors have recently been included in trial programmes in the majority of tyre manufacturing stakeholder organisations.

     

    These will be adapted with a variety of client requirements and sensory technologies. Along with them, there has been a significant degree of effort on sustainable sources-based production for tyre manufacture.

     

    RECENT ACQUISITION IN EUROPE TIRE MARKET

     

    Following a series of discussions to take the cooperation to the next level, Kenda Rubber Co. has purchased Starco Europe. The acquisition of Starco is a natural next step in Kenda’s strategy to develop a platform that would provide it better access to the region’s market.

     

    Kenda has a high market share in the trailer, lawn and garden, golf car, and utility vehicle tyre segments in the United States, and it wants to expand its market dominance in these areas by acquiring Starco, one of Europe’s leading competitors in this field.

     

    The Starco team will now report to Kenda USA and will continue to operate in the same segments and markets as before, with the same supplier base. Starco’s polyurethane knowledge and wheel design, paired with Kenda’s high level of tyre development, the firms believe, will provide the group a competitive advantage in the market.

     

    Hankook Tire has established a corporate governance charter to improve transparency in environmental, social, and governance management and build the foundation for the company’s long-term success. The corporate governance charter will ensure the board of directors’ professionalism and independence, as well as the rights and interests of all stakeholders, such as shareholders, customers, and members.

     

    The UK-based tyre recycling company Murfitts Industries will be acquired by European Tyre Enterprise Ltd (ETEL), according to the company’s announcement. After the agreement, ETEL will become the sole owner of Murfitts, which now recycles 20 million auto tyres annually through its countrywide network.

     

    End-of-life tyres are gathered from tyre producers, wholesalers, and retailers and processed by Murfitts to create a variety of rubber granulate products. The company can now responsibly collect, process, and remanufacture tyre material under our own roof, so this acquisition makes perfect strategic sense.

     

    Customers, both retail and wholesale, can be confident that their used tyres are being treated in the most environmentally friendly manner possible thanks to this. Murfitts has also been working on developing its own pyrolysis process.

     

    Tire feedstock is broken down using the thermochemical process at high temperatures in a vacuum to produce high-value recycled commodities like carbon black and spent gasoline oil. In order to promote sustainability, the company anticipates that the technology will help replace carbon black with a recycled substitute.

     

    The company is able to deliver the constant feedstock required for commercial-scale pyrolysis because to its national collecting and processing infrastructure. Murfitts will be able to expand operations and make investments in the development of new processes thanks to ETEL’s acquisition.

     

    EUROPE TIRE MARKET COMPETITIVE LANDSCAPE

    The European tyre market is highly fragmented, and tyre manufacturers face global competition within the European Union while also enjoying significant advantages in terms of internal regulations and the presence of high alignment towards research and development of new technological prospects within European Union nations.

     

    In recent days, Goodyear, an EU-based tyre manufacturer, has concentrated on the waste-based inclusive processing of new tyres into market manufacturing.

     

    The waste from the conversion of rice husk ash into silica is utilised in Goodyear tyres. Goodyear collaborated with the United Soybean Board to use soybean oil into tyres to improve performance.

     

    Soybean oil keeps tyres supple in cold weather, improving grip in rain and snow. Soybean oil blends more easily with rubber, lowering energy consumption in the manufacturing process.

     

    infographic: Europe Tire Market, Europe Tire Market Size, Europe Tire Market Trends, Europe Tire Market Forecast, Europe Tire Market Risks, Europe Tire Market Report, Europe Tire Market Share

    Continental, an important and large-scale tyre producer in the Russian part of the EU, has concentrated on incorporating dandelion plant-based latex into tyre production.

     

    Continental’s most recent offering incorporates dandelion-extracted latex into the tyres. This has decreased the extensive and excessive use of natural rubber in the EU. As a result, it serves as a significant alternative.

     

    MAJOR PLAYERS IN EUROPE TIRE MARKET

     

    THIS EUROPE TIRE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. Europe Tire Market size and Forecast, by region, by application
    2. Average B-2-B price for Europe Tire Market, by region, per user
    3. Technology trends and related opportunity for new Europe Tire Market tech suppliers
    4. Europe Tire Market share of leading vendors, by region,
    5. Coronavirus impact on Europe Tire Market earnings
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2021-2026
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2021-2026
    19 Market Segmentation, Dynamics and Forecast by Application, 2021-2026
    20 Market Segmentation, Dynamics and Forecast by End use, 2021-2026
    21 Product installation rate by OEM, 2021
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2021
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix

     

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