Europe Tire Market Opportunities, Driving Forces, COVID-19 Impact Analysis, Future Potential 2030

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Europe Automotive Tire Market Size, Trends,
Company Profiles, Growth Rate, Trends and its
Emerging Opportunities
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Europe is one of the most-prosperous regions in
the world, which is why vehicle sales have
always been high here. Plus, the renowned
automakers based in the region keep coming up
with eye-pleasing and sleek cars to catch the
peoples, especially the youths, fancy. Such
factors are driving the regional automotive
industry and, in turn, the demand for various
auto components, including tires. Another reason
the tire demand is rising in the region is the
increasing average of vehicles. With automakers
improvi ng the quality of their vehicles, people
are using them for longer than before. Request to
Get the Sample Report https//www.psmarketresear
ch.com/market- analysis/europe-automotive-tire-ma
rket/report-sample Since the tire replacement
rate is much higher than the vehicle replacement
rate, PS Intelligence expects the European
automotive tire market to grow from 20,037.8
million in 2018 to 26,327.8 million by 2024, at
a 4.5 CAGR between 2019 and 2024. Apart from
the engine, speed of the vehicle, and the gear
which the vehicle is being driven in, the tire
plays an important role in deciding the
automobiles fuel economy. Heavyweight and
worn-out tires put extra pressure on the engine,
which automatically leads to the consumption of
more fuel than required. Presently, Germany is
the largest country in the European automotive
tire market, on account of the long-standing
presence of automakers here. This, along with the
high purchasing power of individuals, has made
the country the largest producer and buyer of
automobiles in the continent, which naturally
leads to a high demand for tires by automakers,
as well as garages, repair shops, and people who
like to replace them themselves. As per
Organisation Internationale des Constructeurs
d'Automobiles (OICA), in 2019, 4,661,328
automobiles were produced in Germany, reflecting
a high demand for tires. Make Enquiry Before
Buying the Report https//www.psmarketresearch.co
m/market- analysis/europe-automotive-tire-market/
report-sample Thus, with the increasing vehicle
sales, the procurement of tires in the region
will continue burgeoning. Market size breakdown
by vehicle type Passenger car Commercial Market
size breakdown by voltage Low voltage High
voltage Market size breakdown by propulsion ICE
EV Market size breakdown by material type Copper
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• Aluminum
• Market size breakdown by application
• Chassis Engine Body HVAC
• Speed Sensors Others
• This study covers
• Historical and the present size of the Europe
  Automotive Tire Market
• Major factors driving the market and their impact
  during the short, medium, and long terms
• Market restraints and their impact during the
  short, medium, and long terms
• Recent trends and evolving opportunities for the
  market participants
• Historical and the present size of the market
  segments and understand their comparative future
  potential
• Potential of on-demand logistics services, so the
  market players make informed decisions on the
  sales of their offerings
• Competitive scenario of various market segments
  across key countries in several regions for
  uncovering market opportunities for the
  stakeholders
• Major players operating in the market and their
  service offerings
• Recent strategic developments by the major
  players in the market
• About PS Intelligence

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