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The Europe - All-season Tire Market size is forecast to increase by USD 2.20 billion, at a CAGR of 5.87% between 2023 and 2028.
The report includes a comprehensive outlook on the Europe - All-season Tire Market offering forecasts for the industry segmented by Distribution Channel which includes offline and online. Additionally, it categorizes End-user into aftermarket and OEM. The market analysis and report provides market size, historical data from 2018-2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
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Our researchers analyzed the data with 2023 as the base year and the key drivers, market growth and trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Performance advantages of all-season tires are notably driving the market growth. The all-season tires market in Europe is growing owing to the performance benefits of using such tires on the road. Such benefits increase the overall value proposition of all-season tires and make them attractive to consumers. All-season tires have been specifically developed for the European climatic conditions, which are characterized by a mix of wet climates, light winters, snowfall, and light summers. Though they are not developed to perform efficiently under either of the extreme climatic conditions, their all-around performance makes them an optimum fit.
However, these tires are designed in a way that they have longer tread life, which means longer treadwear compared with summer or winter tires. They enable stability at cornering and provide good traction in wet and dry conditions, ensuring a smoother and quieter ride. In addition, these tires usually have a long warranty period, which can be as long as 100,000 miles. These tires are available in different sizes and for various vehicle segments. Thus, the performance advantages of all-season tires will drive the market during the forecast period.
The adoption of nanotechnology by all-season tire companies is an emerging trend shaping the market growth. Tire manufacturers are increasingly leveraging nanotechnology to reduce the wear and tear of heavy-duty vehicle tires significantly. Nanotechnology products offer stronger grips to winter tires when traversing snow-covered pavements. These tires give superior performance in extreme conditions. Neoprene, a high-performance rubber additive, is used with the rubber mixture of the tire tread, which significantly helps reduce wear and tear.
Moreover, nanotechnology, such as single-walled carbon nanotubes, allows tires to become more durable, maintain the black color longer, improve the heat qualities, and require minimum product input. Thus, the adoption of nanotechnology will positively impact the market during the forecast period.
Limitations of all-season tires in extreme summer or winter seasons are a significant challenge hindering the market growth. The performance of all-season tires is limited to summers or winters. Their performance in terms of controllability, braking, sliding, and aquaplaning is below average in extreme summer and winter conditions. These drawbacks hinder the adoption of all-season tires. All-season tires are designed to offer all-round performance in different climatic conditions. However, these tires cannot perform well on roads with more than light snow or during extreme cold and extreme summer temperatures. This is because the tread pattern and the design are not made to handle the above-moderate climatic conditions.
For instance, in extreme winters or snowfall, the tire tread hardens, resulting in loss of traction and stability. All-season tires have a shallow tread pattern, which is not designed to perform in the above-mentioned conditions. In addition, these tires do not offer adequate safety when driving at high speeds. Thus, limitations of all-season tires in extreme summer or winter seasons will negatively impact the market during the forecast period.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Europe All-season Tire MarketCustomer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Apollo Tyres Ltd. - The company offers all season tires such as Alnac 4G and Altrust for cars and vans.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative market growth and forecasting of companies have been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The offline segment is estimated to witness significant growth during the forecast period. The presence of numerous physical stores in the automotive market in Europe is one of the major drivers for the offline segment. Moreover, benefits associated with purchasing through offline stores, such as the look and feel factor, increase the adoption of all-season tires through the offline segment.
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The offline was the largest segment and was valued at USD 4.15 billion in 2018. In addition to just the sale of tires, they also offer several other essential services, which include tire balancing, wheel alignment, and a complimentary tire health checkup. Additionally, the players operating in the offline segment regularly work on enhancing the store layout and appearance to offer a unique consumer experience. This is becoming more important now as consumers prefer to make online purchases due to the ease and convenience associated with the online channel. This is leading to increased activities in the offline space for tire sales to retain customers. It is expected that the offline channel to dominate the Europe - all-season tire market because there are still a considerable number of consumers that prefer to go to brick-and-mortar stores to buy automotive products, like tires, as this gives them the advantage of being able to physically see and check out the product. Also, such advantages will drive the market during the market forecast period.
The Europe All-season Tire Market report forecasts market growth by revenue and provides an analysis of the latest market trends and analysis and growth opportunities from 2018 to 2028.
Europe All-season Tire MarketScope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Market forecasting period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.87% |
Market Growth 2024-2028 |
USD 2.20 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.32 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Apollo Tyres Ltd., Bridgestone Corp., Continental AG, Federal Corp., Giti Tire, HACI OMER SABANCI HOLDING A.S., Hankook Tire and Technology Co. Ltd., Kenda Rubber Industrial Co. Ltd., Kumho Tire Co. Inc., Maxxis International, Michelin Group, MRF Ltd., NEXEN TIRE Co. Ltd., Nokian Tyres Plc, Pirelli and C S.p.A, Sumitomo Rubber Industries Ltd., The Goodyear Tire and Rubber Co., Toyo Tire Corp., Yokohama Tire Corp., and Zhongce Rubber Group Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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