Dublin, July 30, 2021 (GLOBE NEWSWIRE) — The “Europe Tyre (Tire) Market & Volume by New Vehicle, Replacement, Region, Company Analysis, Forecast” report has been added to ResearchAndMarkets.com’s offering.
Europe Tire Market is projected to be valued at US$ 67.73 Billion by 2026, from US$ 46.02 Billion in 2020, growing at a CAGR of 6.65%
The automotive market in Europe is one of the largest markets globally. The region is home to many global automobile part manufacturers. Consequently, owing to the growth of the automotive industry and the high tire replacement rate in Europe has fostered the development of the tyre market.
Further, in the coming years, the tyre market in the region is proposed to register remarkable growth due to the influence of new technologies, such as electric and autonomous vehicles, an extension of tariff wars between the European countries. The changing preferences of younger generation consumers coupled with solid domestic production also tend to boom the market.
In the region, the United Kingdom and Germany have farms with more than 1,000 hectares, on…
