europe tire market forecast 2021 brochure

Europe Tire Market Forecast and Opportunities , 2021

M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

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T a b l e o f C o n t e n t s

S. No. Contents

1. Product Overview

2. Research Methodology

3. Analyst View

4. Europe Tire Production Overview

5. Europe Tire Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value & Volume

5.2. Market Share & Forecast

5.2.1. By Vehicle Type

5.2.2. By Company

5.2.3. By Country

5.2.4. By Online Vs Offline

5.2.5. By Radial Vs Bias

5.2.6. By Demand Category (OEM Vs Replacement)

5.3. Market Attractiveness Index (Vehicle Type)

5.4. Market Attractiveness Index (Country)

6. Germany Tire Market Outlook





6.2.2. By Company

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6.2.3. By Region


6.2.5. By Prominent Sizes




7. United Kingdom Tire Market Outlook





7.2.2. By Company

7.2.3. By Region






8. France Tire Market Outlook



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S. No. Contents



8.2.2. By Company

8.2.3. By Region






9. Spain Tire Market Outlook





9.2.2. By Company

9.2.3. By Region






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10. Italy Tire Market Outlook





10.2.2. By Company

10.2.3. By Region






11. Poland Tire Market Outlook





11.2.2. By Company

11.2.3. By Region



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12. Netherlands Tire Market Outlook





12.2.2. By Company

12.2.3. By Region






13. Belgium Tire Market Outlook





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13.2.2. By Company

13.2.3. By Region






14. Slovakia Tire Market Outlook





14.2.2. By Company

14.2.3. By Region






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15. Hungary Tire Market Outlook





15.2.2. By Company

15.2.3. By Region






16. Romania Tire Market Outlook





16.2.2. By Company

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16.2.3. By Region






17. Slovenia Tire Market Outlook





17.2.2. By Company

17.2.3. By Region






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S. No. Contents

18. Import-Export Analysis

19. Market Dynamics

19.1. Drivers

19.2. Challenges

20. Market Trends & Developments

20.1. Growing Demand for Electric Vehicles

20.2. Growing Penetration of Winter Tires

20.3. Developing Distributor & Dealership Network

20.4. Rising Demand for Radial Tires

20.5. Technological Advancement

20.6. Light Commercial Vehicles(LCV) – Fastest growing tire segment

20.7. Growing Adoption of Fuel Efficient Technology

21. Policy & Regulatory Landscape

22. Competitive Landscape

22.1. Compagnie Générale des Établissements Michelin (CGEM)

22.2. Goodyear Dunlop Tires Europe B.V

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S. No. Contents

22.3. Continental Aktiengesellschaft

22.4. Bridgestone Europe NV/SA

22.5. Pirelli & C. S.p.A.

22.6. Nokian Tyres plc

22.7. Yokohama Europe Gmbh.

22.8. Hankook Reifen Deutschland GmbH.

22.9. Apollo Vredestein B.V.

22.10. Cooper Tire & Rubber Company Europe Limited

23. Strategic Recommendations

24. About Us & Disclaimer

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P r o d u c t O v e r v i e w

Global tire supplier Michelin defines tire as “A precisely engineered assembly of rubber,chemicals, fabric, and metal, designed to provide traction, cushion road shock andcarry a load under varying conditions.”

Classification According to Vehicle Type

Product Definition

Vehicle Segment Customer Segment

Passenger Car Individuals

Light Commercial Vehicle

Transport Companies, Logistics, Small Business Entrepreneurs, Government, etc.

Medium & Heavy Commercial Vehicle

Two wheeler Individuals

Off-the-Road (OTR) Vehicle (which includes Mining, Construction & Industrial Equipment, Agriculture

Vehicles and Others)

Mining Companies, Construction Companies, Farmers, Sports Companies, Adventure Activity Industries, etc.

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R e s e a r c h M e t h o d o l o g y

A

C

B

Primary Research

Company Analysis

Desk Research

Identifying Key Opinion

Leaders

Questionnaire Design

In-depth Interviews

Market Participants

Key Strengths

Tire Portfolio

OEM Tie-ups

Recent

Developments

Market Changing

Aspects/Dynamics

Government

Policies

Final Conclusion

LinkedIn TechSci Internal

database

Factiva Hoovers

Paid Sources

Company Website Company Annual

Reports White Paper Study Financial Reports Investor

Presentations Regulatory Body, Associations, etc.

Secondary Research

Primary Research

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights

BusinessSolution

•In-depth secondary research was used todetermine top players in Europe tire market,overall market size and to identify topautomobile tire manufactures.

Market Profiling

•In order to conduct industry experts interviews,TechSci Research formulated a detailedquestionnaire.

Formulating Questionnaire

•List of industry players (manufacturers),distributors, retailers, and industry specialistswas developed.

Developing list of respondents

•TechSci Research conducted interviews withindustry experts, industry players, etc., for datacollection and verification.

Data Collection

•Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.

Data Validation

•The data was scrutinized using MS-Excel andstatistical tools such as Time Series analysis etc.to obtain qualitative and quantitative insightsabout the Europe tire market.

Data Analysis

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Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leading Europe tiresuppliers, and subsequently, verified information from major distributors of tires across the region. We also putthrough an exhaustive search of credible paid databases such as Business Week, Factiva, Hoovers, etc., including ourinternal database. Our team of analysts has then prudently evaluated all the collected information and presented thesame in chronological order to depict a meaningful and clear picture of the Europe tire market.

While compiling the data, we have also cross checked all the collected information from multiple sources and datawarehouses, so as to present the most accurate and precise information of the concerned industry. We useinnovative business model that focuses on improving productivity, which ensuring creation of high-quality reports.The reports are prepared with in-depth primary research, followed by exhaustive secondary research.

Primary Research – Major Companies Interviewed Secondary Research - Few Major Sources

S. No. Company Name

1.Compagnie Générale des Établissements

Michelin

2. Goodyear Dunlop Tires Europe B.V.

3. Continental Aktiengesellschaft

4. Bridgestone Europe NV/SA

5. Pirelli & C. S.p.A.

6. Nokian Tyres plc

7. Yokohama Europe Gmbh.

8. Hankook Reifen Deutschland GmbH.

9. Apollo Vredestein B.V.

10.Cooper Tire & Rubber Company Europe

Limited

S. No. Secondary Source

1.European Tyre and Rubber Manufacturers

Association (ETRMA)

2.European Automotive Manufactures

Association (ACEA)

3. Eurostat

4.International Organization of Motor Vehicle

Manufacturers (OICA)

5.The British Tyre Manufacturers Association

(BTMA)

6.Society of Motor Manufacturers and Traders

of UK (SMMT)

7.European Association of Motorcycle

Manufacturers (ACEM)

8. World Bank

9. Company Website

10. International Monetary Fund (IMF)


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For the preparation of Europe tire report, bottom-up model has been used, which has been later crossvalidated by using top down approach.

Vehicle Sales & Fleet Size

The basic data points that are needed for the analysis of Europe tire market are the historical, currentand forecast figures for vehicle sales and fleet size. The data for vehicle sales and fleet size has beenextracted through various secondary sources and credible data portals. TechSci Research has alsomaintained a database for vehicle sales and fleet size for each vehicle segment (passenger cars, lightcommercial vehicles, medium & heavy commercial vehicles, two wheelers & off-the-road vehicles),which is regularly updated through various primary research surveys and secondary sources such asautomotive associations & government publications.

Vehicle Production

TechSci has gathered vehicle production data from credible sources such as ACEA, ETRMA, OICA, etc.TechSci Research has also maintained a database for vehicle production for each vehicle segment(passenger cars, light commercial vehicles, medium & heavy commercial vehicles, two wheelers & off-the-road vehicles), which is regularly updated through various primary research surveys and secondarysources such as automotive associations & government publications.

Tire Demand

OEM Tire Sales

OEM tire demand in Europe is directly dependent on country’s vehicle production. The OEM demand istherefore extracted by multiplying the vehicle produced with the number of tires fitted in the vehicle.For example, in case of passenger car, five tires are fitted by the OEM during manufacturing process.


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Tire Demand

Replacement Tire Sales

Replacement tire demand of a particular country is directly dependent on country’s vehicle fleet sizeand historical vehicle sales. The replacement demand is therefore extracted by multiplying the vehiclefleet with the replacement tire ratio, which is obtained by conducting a series of surveys with carowners to understand the frequency of tire replacement as it varies for different countries dependingupon factors such as road conditions, climate, economic and regulatory policies applicable in a country.The replacement ratio is expressed as a percentage. For example, in case of passenger cars,replacement ratio is considered to be 100% if four tire is replaced per vehicle per year.

Example for passenger car replacement tire demand calculation:

Passenger Car Fleet

Size (Volume)X Replacement Ratio (%) X No. of Tires =

Replacement Tire

Demand

1,00,000 X 10% X 4 = 40,000 Tires

The calculated replacement tire demand data is further analyzed by TechSci Research through Delphitechnique i.e. multiple rounds of telephonic interviews were conducted with tire companiesdealers/distributors at European countries. The information thus gathered through primary interviewswas cross-verified through industry experts and secondary sources such as annual reports and paiddatabases to generate meaningful results.

Total Tire Market

OEM Tire Sales + Replacement Tire Sales = Total Tire Market


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Forecast

For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis,followed by judgmental analysis as certain factors would always differ from country to country such asinfrastructure condition, economic outlook, technology penetration, etc.

Tire Trade (Import & Export)

TechSci Research has analyzed tire imports & exports in Europe. The data has been gathered throughgovernment agencies and credible paid databases. The total tire trade has been segmented inaccordance with below mentioned HS codes:

HS Code Description Tire Type

401110 Motor Cars Passenger Car Tire

401120 Bus or Lorries Tires Commercial Vehicle Tire

401140 Motorcycle Tire Two Wheeler Tire

401161 Tire Having a "Herring Bone"

OTR Tire





401192 Agriculture Tire

401193 Construction/Industrial Tire

401194 Construction/Industrial Tire

401199 Others Other Tires

The import and export figures for each HS Code have been depicted in Value (USD Million).


I n d u s t r y B r i e f

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Europe Tire Market to Cross $49 Billion by 2021

Anticipated increase in the tire production capacity, growing vehicle sales and expanding automobile fleet forecast to propelEurope tire market over the next five years

According to TechSci Research report, “Europe Tire Market Forecast and Opportunities, 2021’’, the tire market of Europe isprojected to cross $49 Billion by 2021. Growth in the market is expected on account of anticipated stabilization of crude oilprice, expected rise in the vehicle sales, expanding vehicle fleet, growing motorization rate and implementation of favorablegovernment policies. With more than 90 tire manufacturing facilities, 16 research & development centres and 12 leadingtire manufacturers, the region continues to be the epicentre of all the major global advancements in tire technology.

Countries in the European Union suffered from the impact of European debt crisis during 2008-2012. As a result, Europefaced weak economic scenario and financial conditions. The aftereffects of the crisis were apparent in 2013 as well, and thisconsequently, impacted growth of automotive sector in Europe. Thus, Europe automobile production grew at a CAGR of0.16%, in volume terms, during 2011-2015. However, due to several bailout packages offered by the European Union andthe International Monetary Fund (IMF), the economy of the countries has started recovering from the crises, due to whichthe automotive and tire industries of Europe is expected to revive over the next five years.

During the forecast period, passenger car segment is forecast to dominate Europe tire market owing to increasing passengercar sales, expanding passenger car fleet and growing purchasing power of the consumers. Moreover, the region’sreplacement tire demand is anticipated to grow at a higher pace in comparison to the OEM tire demand over the course ofnext five years. Some of the leading players of operating in the tire market of Europe are Michelin, Goodyear, Continental,Bridgestone and Pirelli, among others.

“During 2011 - 2015, due to the impact of Eurozone crisis, automobile sector in Europe could not deliver to its full potential,and consequently, tire industry in the region was negatively affected due to decline in automotive production during thesame period. However, with comparatively stable macroeconomic scenario, automobile production and sales areanticipated to grow in the coming year, which is expected to boost tire market in Europe during the forecast period.” saidMr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

https://www.techsciresearch.com/report/europe-tire-market-by-vehicle-type-pc-lcv-m-hcv-2w-otr-by-company-by-offline-vs-online-sales-by-demand-category-oem-vs-replacement-by-region-competition-forecast-opportunities-2021/768.html

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Europe Tire Market Size, By Value (USD Billion), By

Volume (Million Units), 2011-2021F

S a m p l e D a t a - S n a p s h o t

10 20 30 40 50 60 70 80 90 100 11040

80120

160200

240280

320360 400 440

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Value (USD Billion) Volume (Million Units)

25% 25% 25% 25% 25% 25% 25%5% 5% 5% 5% 5% 5% 5%10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

17% 17% 17% 17% 17% 17% 17%13% 13% 13% 13% 13% 13% 13%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Michelin Goodyear Continental Bridgestone Pirelli Others*

Europe Tire Market Share, By Company, By Volume, 2015-2021F

Europe Tire Market Attractiveness Index, By Vehicle Type,

By Volume, 2015

3.20%

3.70%

4.20%

4.70%

5.20%

0.00 1.00 2.00 3.00 4.00 5.00 6.00

Light Commercial Vehicles

Two Wheelers

Passenger Cars

Medium & Heavy Commercial Vehicles

Off-The-Road (OTR) Vehicles

Germany Tire Market Share, By Region, By Volume, 2015-2021F

10% 10% 10% 10% 10% 10% 10%

20% 20% 20% 20% 20% 20% 20%

30% 30% 30% 30% 30% 30% 30%

40% 40% 40% 40% 40% 40% 40%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Southwest Southeast Northeast Northwest

Germany Tire Market Size, By Value (USD

Billion), By Volume (Million Units), 2011-2021F

10 20 30 40 50 60 70 80 90 100 11040

80120

160200

240280

320360 400 440

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Value (USD Billion) Volume (Million Units)

15% 15% 15% 15% 15% 15% 15%5% 5% 5% 5% 5% 5% 5%

12% 12% 12% 12% 12% 12% 12%

23% 23% 23% 23% 23% 23% 23%

30% 30% 30% 30% 30% 30% 30%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Michelin Goodyear Continental Bridgestone Others*

France Tire Market Share, By Company, By Volume, 2015-2021F

R e p o r t O r d e r i n g

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Opportunities, 2011- 2021

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About Us

TechSci Research is a global market research and consulting company with offices in US, UK and India. TechSci Research provides

market research reports in a number of areas to organizations. The company uses innovative business models that focus on improved

productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-

specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and

global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich

evaluation of the opportunities available in the market.

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Disclaimer

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is madethat it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from varioussources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness ofany information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially statesthat it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts,can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internalconsumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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