France Tire Market
France Tire Market Size Set to Grow Steadily to Reach USD 12.7 Million by 2029
Published | 25 April 2023
France tire market is flourishing due to the increasing vehicle sales, stringent government regulations, and adoption of technology advancements.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated France tire market size at USD 10.24 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects France tire market size to grow at a CAGR of 3.17% reaching a value of USD 12.67 million by 2029. The tire industry in France is expected to witness moderate growth in the upcoming years, driven by factors such as increased vehicle production and a surge in demand for replacement tires. The passenger car tire category is expected to hold a significant share of the market revenue, with a focus on sustainable and eco-friendly tire options and the integration of advanced technologies like tire pressure monitoring systems. Also, France tire market is expected to witness a boost from the rising trend of e-commerce channels for tire sales.
France Tire Market – Overview
Every automobile requires a vital element called the automotive tire that ensures secure and effective mobility by providing grip and stability. This intricate device is composed of multiple materials and is designed to withstand different environmental factors and road conditions. Contemporary automotive tires utilize cutting-edge technology, including unique tread patterns and rubber compositions, to amplify fuel economy, reduce noise, and enhance maneuvering and stopping capabilities. The market for vehicle tires is vast, with a plethora of options catering to diverse needs and preferences, spanning from slick racing tires to tough off-road ones. The automotive tire industry is constantly evolving, with ongoing developments and enhancements, making it an essential and ever-evolving aspect of the transportation sector.
Impact of COVID-19 on France Tire Market
France tire market was hit hard by the Covid-19 pandemic, with government-imposed lockdowns and restrictions causing a significant drop in demand for both passenger and commercial vehicle tires in 2020. This led to a decline in revenue and production for tire manufacturers and dealers. However, as restrictions are eased and economic activity picks up, the market is expected to recover in the upcoming years. Also, the growth of the tire industry in France after the pandemic is expected to witness an increasing demand for high-end tires and the rising use of electric vehicles.
France Tire Market - By Sales Channel
On the basis of sales channels, France tire market is divided into Original equipment manufacturer (OEM) and Aftermarket segments. The aftermarket segment dominates the France tire market by sales channel, as aftermarket tires are sold through various channels, such as independent tire dealers, specialty stores, online retailers, and hypermarkets, making them easily accessible to consumers. Additionally, the average lifespan of a tire is around 3-4 years, leading to frequent replacements and a continuous demand for replacement tires
France tire market is significantly competitive. Major companies in the market include Michelin, Bridgestone, Goodyear, Continental, Pirelli, Hankook, Dunlop, Cooper Tire & Rubber Company, Yokohama, and Nokian Tyres. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the France tire market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of France Tire Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in France Tire Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost the performance of your business solutions. BlueWeave has built its reputation from scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
- France Tire Market - By Type (Passenger Car Tires, Light Commercial Vehicle Tires, Heavy Commercial Vehicle Tires, Off-the-Road Vehicle Tires, Two-Wheeler Tires, Others); By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket); By Distribution channel (Online, Offline); By Construction (Radial, Bias), Trend Analysis, Competitive Landscape & Forecast, 2019–2029
Publish Date: April 2023
A growing demand for eco-friendly tires, an increase in the manufacturing and sale of low-rolling-resistance tires, as well as stringent government measures to implement rules to encourage the use of such tires to reduce carbon emissions are propelling the France Tire Market during the forecast period between 2023 and 2029.
Relevant Press Releases
- UAE Tire Market Growing at a Breakneck Speed: Projected to Grow at a CAGR of 8.5% by 2027
- Mexico Tire Market Growing Steadily Despite the Pandemic: Forecast to Grow at the CAGR of 6.1% by 2021
- United States Construction Equipment Market to Grow at 6% CAGR
- Saudi Arabia Spare Parts Market Size Set to Cross USD 7.1 billion by 2028
- Europe Autonomous Cars Market to Grow at a CAGR of 28.4% during Forecast Period