Report Overview

France Advanced Tires Market is flourishing owing to rising government initiatives to spur growth in the building sector, rising foreign investment in the nation's auto industry, an expanding auto fleet, rising vehicle sales, and rising per capita disposable income of the nation are all encouraging consumers to spend on high-quality tires.

France Advanced Tires Market - Industry Trends & Forecast Report 2028

France Advanced Tires Market was worth USD 240.5 million in 2021 and is further projected to reach USD 474.2 million by the year 2028, exhibiting a CAGR of 10.4% during the forecast period (2022-2028). The rapid expansion of the market is predominantly due to factors including increased auto manufacturing and stricter rules on vehicle emissions. Additionally, it is predicted that rising luxury automobile production and advancements in linked car technologies boost the demand for sophisticated tires. Future demand for innovative tires is anticipated to be further boosted by tire manufacturers' increased attention to cutting-edge technologies including 3D printing, organic raw materials, and autonomous vehicles.

Advanced Tires - Overview

Advance tires are constructed from a variety of materials in different combinations. Modern tires typically have no air and are impervious to punctures. It has a smaller surface contact area than other tires, which improves the vehicle's fuel economy. Modern tires maintain their traction when the car is moving at a higher speed and are less harmful on wet roads. Additionally, an advanced tire is a new technology that improves tire performance and functionality by detecting road conditions.

France Advanced Tires Market Forecast and Trends

Growth Drivers

Increased Production of Automobiles

In the past ten years, the automobile sector has experienced rapid growth, primarily in France. Early on, industrialized nations where the global automotive sector was heavily concentrated. Automobile manufacturing facilities will shift their attention to France as the sector becomes more standardized. Due to quick industrialization, which has increased sales of commercial vehicles including trucks, tractors, and trailers, the automobile sector has recently been expanding quickly. Moreover, increased manufacturing of automotive catalysts for pollution control devices in automobile exhaust systems is a result of the expansion in automobile production. Thus, it is projected that an increase in automotive manufacturing will spur growth in the market for advanced tires worldwide.

Strict Guidelines for Vehicle Emissions

France has put into place government laws and regulations on vehicle emissions and fuel efficiency, and it has ordered automakers to adopt cutting-edge technologies to battle high emission levels in vehicles. Nitrogen monoxide, carbon monoxide, lead, CO2, and hydrocarbons are all present in automobile exhaust fumes and are known to aggravate respiratory conditions like asthma and allergies. As of 2013, 25% of the airborne hydrocarbons and more than half of the nitrogen oxides were produced by autos. One of the most modern tires in the automotive sector, tubeless tires improve fuel efficiency while lowering vehicle emissions. The market for innovative tires is expanding as a result of all these forces working together.

Rising Adoption of Luxury Vehicles

The demand for sophisticated tires is expected to be fueled by rising consumer preference for luxury vehicles and linked vehicle technologies. Vehicle safety is improved by connected auto technology like tire pressure monitoring systems and self-inflating tires. It is anticipated that modern tire technologies, such as chip-embedded tires, self-inflating tires, multi-chamber tires, and all-in-one tires, would considerably improve vehicle convenience. Through real-time tire pressure monitoring, the aforementioned technologies also contribute to improving tire durability. All these factors boost the growth of the France Advanced Tires Market during the forecast period (2022-2028).

Restraints

Varying Cost of Basic Materials

The pneumatic tire market's expansion is constrained by fluctuating raw material prices brought on by increasing input costs due to a lack of natural rubber supply and by rising oil prices. Additionally, practically all raw materials are crude derivatives, making them dependent on the price of crude oil. Additionally, the cost of manufacturing sophisticated tires is mostly accounted for by the raw materials utilized in their production, with synthetic and natural rubber serving as the main raw materials. The cost of crude oil has increased recently all across the world including in France. As a result, it is anticipated that in the upcoming years, the cost of synthetic rubber and other crude derivatives used in the manufacture of tires will rise. This is projected to slow the growth of France advanced tire market.

Impact of COVID-19 on France Advanced Tires Market

Nationwide, the COVID-19 pandemic has had an impact on a diverse range of businesses. Additionally, the industry for advanced tires made a big difference. Governments throughout the nation put in place stringent controls like border locks, lockdowns, and severe social segregation measures to stop the spread of COVID-19. These actions had a sizable impact on the economy, affecting numerous industries. Additionally, a decline in the supply of raw materials affected the market for advanced tire device makers nationally. The impact of COVID-19 on market demand is considered when assessing the size and growth trends of the markets in all regions.

France Advanced Tires Market - By Technology

Based on the technology, the France Advanced Tires Market is segmented into All-In-One Tires, Autonomous Vehicle Advanced Tires, Chip-Embedded Tires, D Printed Tires, Multi-Chamber Tires, Self-Inflating Tires. During the projected period, self-inflating technology is expected to grow the fastest for on-highway cars. Increased commercial vehicle production and the desire for greater tire performance in commercial vehicles are expected to increase demand for self-inflating tires. The expanding number of fleet management systems in developed regions is likely to fuel increased demand for self-inflating tires since they allow the vehicle to keep tire pressure within a range, hence increasing tire durability. Furthermore, passenger car safety and convenience needs will accelerate the self-inflating tire market, giving tire makers a strong development opportunity.

France Advanced Tires Market – By Type

Based on type, the France Advanced Tires Market is segmented into Airless Tires, Pneumatic Tires, and Run-Flat Tires. From 2020 to 2030, it is anticipated that the pneumatic tires segment would account for the biggest market share. Due to their superior performance in terms of grip and vehicle movement, pneumatic tires are believed to be installed in passenger automobiles at a high rate. Additionally, for all tire manufacturing companies with current production capacity, pneumatic tires are simple to mass produce. The need for sophisticated pneumatic tires is also fueled by the high load-carrying capacity and excellent durability of pneumatic tires. All these factors boost the growth of the France Advanced Tires Market during the forecast period (2022-2028).

France Advanced Tires Market - By Vehicle Type

Based on vehicle type, the France Advanced Tires Market is segmented into By Off-Highway Vehicle Types (Agricultural Tractors, Construction & Mining Equipment, and Industrial Equipment), By On-Highway Vehicle Types (HDV, MDV and LDV). The on-highway vehicle type comprising the LDV market is expected to have the biggest market share. Rising manufacturing of premium vehicles in some regions, as well as an increased desire for linked technology, has led to an increase in demand for innovative tires. Furthermore, high-end SUVs are driving demand for the advanced market as luxury vehicles, and high-end SUVs are expected to be early adopters of advanced tires.

Competitive Landscape

The leading market players in the France Advanced Tires Market are Compagnie Générale des Établissements Michelin (CGEM), Bridgestone Europe NV/SA, Continental Aktiengesellschaft, Goodyear France SAS, Pirelli & C. S.p.A., Hankook Tire France SARL, Yokohama France SAS, Apollo Tires Ltd., Cooper Tire & Rubber Company France SARL, Kumho Tire Co., Inc., and other prominent players.

The France Advanced Tires Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Development

Scope of the Report

By Technology Type

• All-In-One Tires
• Autonomous Vehicle Advanced Tires
• Chip-Embedded Tires
• D Printed Tires
• Multi-Chamber Tires
• Self-Inflating Tires

By Type

• Airless Tires
• Pneumatic Tires
• Run-Flat Tires

By Material Type

• Elastomers
• Natural Rubber
• Steel
• Synthetic Rubber

By Vehicle Type

• By Off-Highway Vehicle Type

• Agricultural Tractors
• Construction & Mining Equipment
• Industrial Equipment

• By On-Highway Vehicle Type
  • • HDV
    • MDV and LDV