Germany Tire Market

Germany Tire Market Overview:

The Germany tire market size is projected to exhibit a growth rate (CAGR) of 3.80% during 2024-2032. The extensive demand for high-performance tires, the expansion of the retread tire industry, and the increasing focus of companies on producing tires using green energy represent some of the key factors driving the growth of the market.

Germany Tire Market Trends:

Extensive Demand for High-performance Tires

Automotive high-performance tires are expected to experience significant growth in the coming years. This growth can be attributed to several factors, including the increasing popularity of car and bike racing and off-road rallies. These events serve as platforms for OEMs to promote their products and raise brand awareness. In addition, rising disposable incomes in emerging markets are leading consumers to shift towards higher capacity vehicles like SUVs and crossover vehicles. Furthermore, major players in the market are investing in new products for high-performance tires. For instance, in March 2021, Versalis, Eni's chemical company, a leader in the production and marketing of elastomers, and Bridgestone EMIA, a leader in advanced mobility solutions, signed a joint development agreement for the research, production, and supply of synthetic rubber with advanced properties. The R&D divisions of the two organizations will collaborate, using an Open Innovation model, to develop technologies and new elastomer grades, including Styrene Butadiene Rubber (SBR), for the production of high-performance tires.

Green Energy in Tire Production

The market for retread tires is growing rapidly, since it does not involve the complete replacement of the tires, making it cost efficient. The casings can help offer multiple life cycles, and this is in the long run can assist in cutting costs, especially for commercial fleet owners. Apart from this, companies are now focused on the production of green energy tires. In 2021, the industrial sector accounted for nearly 40% of global final energy consumption, emerging as the second-largest CO2-emitting sector after the power generation sector. It is important to envision how net zero commitments can be fulfilled by 2050 amid escalating emissions and the expanding demand for fossil fuels. Michelin aims to produce tires entirely from renewable, recycled, bio-generated or otherwise sustainable materials by 2050. The company is demonstrating how tyres can be 100 per cent sustainable. Michelin is driving its progress with extensive research and development activities, ambitious partnerships and innovative start-ups.

Germany Tire Market News:

• In May 2024, Bridgestone, a global leader in premium tires and sustainable mobility solutions, has been chosen by Maserati to develop bespoke 20'' tyres for its first all-electric SUV, the Maserati Grecale Folgore. The Bridgestone tires, specifically engineered for the Grecale Folgore, extend the EV's driving range, while delivering superior handling performance in challenging conditions on both dry and wet surfaces.
• In March 2024, the Goodyear Tire & Rubber Company launched the new three-star RL-5K Off-the-Road (OTR) tire for large wheel loaders and wheel dozers. The RL-5K is Goodyear's newest radial OTR tire in the 45/65R45 tire size and is constructed to withstand the air pressure necessary to deliver an increased three-star load capacity, which translates to a 16% increase in load carrying capacity. The RL-5K with three-star capacity also features a deep, 250-level durable tread to deliver cut resistance and traction in severe underfoot conditions.
   

Germany Tire Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, sales channel, application, distribution channel, construction, season, and material.

Type Insights:

• Passenger Car Tires
• Light Commercial Vehicle Tires
• Heavy Commercial Vehicle Tires
• Off-Road Tires
• Two-Wheeler Tires
• Others
   

The report has provided a detailed breakup and analysis of the market based on the type. This includes passenger car tires, light commercial vehicle tires, heavy commercial vehicle tires, off-road tires, two-wheeler tires, and others.

Sales Channel Insights:

• Original Equipment Manufacturer (OEM)
• Aftermarket
   

A detailed breakup and analysis of the market based on the sales channel have also been provided in the report. This includes original equipment manufacturer (OEM) and aftermarket.

Application Insights:

• Replacement Tires
• Original Equipment (OE) Tires
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes replacement tires and original equipment (OE) tires.

Distribution Channel Insights:

• Online
• Offline
   

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes online and offline.

Construction Insights:

• Radial
• Bias
   

The report has provided a detailed breakup and analysis of the market based on the construction. This includes radial and bias.

Season Insights:

• Summer Tires
• Winter Tires
• All Season Tires
   

A detailed breakup and analysis of the market based on the season have also been provided in the report. This includes summer tires, winter tires, and all season tires.

Material Insights:

• Natural Rubber
• Synthetic Rubber
• Others
   

The report has provided a detailed breakup and analysis of the market based on the material. This includes natural rubber, synthetic rubber, others.

Regional Insights:

• Western Germany
• Southern Germany
• Eastern Germany
• Northern Germany
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Western Germany, Southern Germany, Eastern Germany, and Northern Germany.  

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Germany Tire Market Report Coverage:

Key Questions Answered in This Report:

• How has the Germany tire market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Germany tire market?
• What is the breakup of the Germany tire market on the basis of type?
• What is the breakup of the Germany tire market on the basis of sales channel?
• What is the breakup of the Germany tire market on the basis of application?
• What is the breakup of the Germany tire market on the basis of distribution channel?
• What is the breakup of the Germany tire market on the basis of construction?
• What is the breakup of the Germany tire market on the basis of season?
• What is the breakup of the Germany tire market on the basis of material?
• What are the various stages in the value chain of the Germany tire market? 
• What are the key driving factors and challenges in the Germany tire?
• What is the structure of the Germany tire market and who are the key players?
• What is the degree of competition in the Germany tire market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Germany tire market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Germany tire market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Germany tire industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.