Europe Specialty Tires Market – Size, Share and Forecast (2019-2026)

SKU: DAT80 | Published On: 2019-04-09 | Available Formats

Europe Specialty Tires Market

The Europe specialty tire market was worth $1,591.1 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period.

Specialty tires used are in construction machinery, aircraft, another highly specialized equipment that operate under extreme conditions. It demands that the tires be manufactured with high-level technical expertise as they operate heavy load and even in uneven terrain. These are manufactured with minimum trade depth which offers better cooling for tires and greater stability while driving.

Natural rubber is a major component used for making specialty tires. Decreasing commodity price of natural rubber will reduce the overall production costs associated with specialty tire. Specialty tires are designed for particular weather situations as well as for specific automobiles. They may include OTR tires or agriculture tires.


Europe Specialty Tires Market Dynamics

Growth in e-commerce sales channels, high demand in end-user industries and increasing financial investments and funding are the crucial drivers for the market growth. The Europe Specialty tire Market has witnessed a substantial rise in financial investments and funding in a bid to increase technological innovations and expand production facilities.

Europe-based equity firms also invest in overseas companies in an attempt to increase market reach and grow revenue opportunities. For instance, in October 2018, Europe-based Bain Capital Private Equity invested in U.S.-based Dealer Tire, LLC, to accelerate growth and expansion.

The increased demand for tires in various end-user industries has propelled the market growth, with high sales volume recorded for tires used in industrial and construction vehicles. For instance, in June 2018, Camso introduced its Solideal On-Site Service operation to the UK market, which involves a pneumatic tire Puncture Protection Program to eliminate flat tires while providing maximum uptime to its customers.

Adoption of rigid environment laws and regulations and high cost of switching and replacements are the restraints that are hampering the growth of the market. The replacement and switching of tires in Europe involve heavy costs, with laws and regulations compelling customers to shift towards cheap alternatives in the face of high pricing ranges.

Europe Specialty Tires Market Segmentation Analysis

Based on end-user segment, the market is divided into industrial vehicles and utility vehicles. Industry vehicles segment is further divided into dumpers, skid steers, forklift trucks, small wheel loaders, and others. Utility vehicles is again categorized into mowers, municipal service vehicles, compact tractors, and others.

The Europe Industrial Vehicles specialty tires market was worth $1107.3 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of 2.4% during the forecast period. In Industrial Vehicles, small wheel loaders market sub-segment held more than 30% of the Europe Industrial Vehicles specialty tires market owing to the growth of manufacturing industries and e-commerce businesses.

Small wheel loaders provide superior performance and wide versatility and offer high mobility and a wide range of torque output in compact sizes. The small wheel loader tires are used for various applications, including on soft dirt terrain prone to slippage, on concrete pavements, and grass turf for loading purposes. The development of technological innovation and increase in lift capacity in tight spaces are poised to offer opportunities for growth and expansion of business opportunities, with key market players recognizing such trends and launching new products to remain relevant in the market.

Based on sales channel, the global market for Europe specialty tires is broadly segmented as OEM & aftermarket. The Europe aftermarket sales channel vehicles specialty tires market was worth $1266.5 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period. The aftermarket for specialty tires in Europe is leading by market share owing to the offerings of a wide variety of tire parts and accessories of varying qualities for a range of prices. The specialty tires are prone to extensive wear and tear after long use, and thus the replacement or aftermarket segment is driven by the higher replacement cycle of specialty tires and rising consumer interest in the aftermarket supplier’s scenario.

Europe Specialty Tires Market Geographical Analysis

Europe specialty tires market is segmented into countries like Germany, France, United Kingdom, Italy, Spain, Poland, Scandinavia and rest of Europe. The specialty tire market in Germany is the leading market owing to increasing consumer interest and high production volume of utility vehicles in Europe region.

The specialty tires in Germany are generally used in industrial vehicles such as forklift vehicles and small wheel loaders for material handling and transportation. The increasing consumer interest and high production volume of automotive vehicles are the significant factors positively influencing the specialty tires market in Germany, coupled with an increase in population mobility and rising vehicle ownership.

The UK specialty tire market value is expected to witness rapid growth during the forecast period owing to well-organized production facilities of automobiles and assorted accessories that have made the UK an ideal location for tire manufacturing facilities. In June 2018, ATS Euromaster opened a newly dedicated hub center, expanding mobile tire maintenance support across Yorkshire and the North East, UK, involving repair facilities with the tire.


Europe Specialty Tires Market Competitive Analysis

Some of the key vendors in the market are Global Rubber Industries Pvt Ltd, Emrald Tires, TVS Eurogrip, Trelleborg AB, STARCO, Dunlop Tires Ltd, Cheng Shin Rubber Ind co ltd, Carlisle Tires & Wheel Company, CAMSO, and Balakrishna Industries.

Regional companies in Europe specialty tires market are engaging in the launch of the new product to increase the market competitiveness.

For instance, in September 2018, John Deere’s introduced its new ZTrak 900 Series commercial zero-turn rotary mowers, using the new Michelin X Tweel Turf airless radial tire. The new Z994R model equipped with X Tweel Turf tires will be available in the UK & Ireland. In December 2018, Michelin Corporation completed the acquisition of Campo, which deals in rubber tracks for farm equipment and snowmobiles, and in solid and bias tires for material handling equipment.

The companies are also focused on mergers & acquisitions of regional companies in an attempt to expand product portfolio and maintain competitiveness in the regional market scenario. For instance, in November 2017, Trelleborg AB finalized the acquisition of Germany-based White Baumaschinenreifen GmbH, which specializes in the service, fitting and repair of pneumatic and solid tires for vehicles in Germany.


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Target Audience:

• Equipment Suppliers/ Buyers

• Service Providers/ Buyers

• Industry Investors/Investment Bankers

• Education & Research Institutes

• Research Professionals

• Emerging Companies

• Manufacturers

Key Points:

  • Europe-based equity firms also invest in overseas companies in an attempt to increase market reach and grow revenue opportunities.
  • Increasing consumer interest and high production volume of automotive vehicles are the significant factors positively influencing the specialty tires market.
  • Adoption of rigid environment laws and regulations and high cost of switching and replacements are the restraints that are hampering the growth of the market.
  • The Europe aftermarket sales channel vehicles specialty tires market was worth $1266.5 billion in 2018 and is forecasted to reach $XX billion by 2026, at a CAGR of XX% during the forecast period
  • The specialty tire market in Germany is the leading market owing to increasing consumer interest and high production volume of utility vehicles in Europe region.
  • Regional companies in Europe specialty tires market are engaging in the launch of the new product to increase enhance market competitiveness.

Section 1. Europe Specialty Tires Market Methodology and Scope

1.1 Research Methodology

1.2 Research Objective and Scope of the Report

 

Section 2. Europe Specialty Tires Industry Trends

Section 3. Market Outlook

3.1 Market Snippet by Agricultural Equipment

3.2 Market Snippet by Construction Equipment

3.3 Market Snippet by Region

 

Section 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunity

4.4 Impact Analysis

 

Section 5. Industry Analysis

5.1 Porter’s Five Forces Analysis

5.2 Supply Chain Analysis

5.3 Pricing Analysis

5.4 Regulatory Analysis

5.5 Patent Analysis

 

Section 6. Market Segmentation Analysis – By Agricultural Equipment

6.1 > 200 hp Farm Tractor Market

6.2 < 30 hp Farm Tractor Market

6.3 31-100 hp Farm Tractor Market

6.4 100-200 hp Farm Tractor Market

 

Section 7. Market Segmentation Analysis – By Construction Equipment

7.1 Earthmoving Equipment

7.2 Material-Handling Equipment

7.3 Heavy Construction Vehicles

7.4 Others

 

Section 8. Competitive Analysis

8.1 Competitive Scenario

8.2 Competitor India Agriculture and Construction Equipment Strategy Analysis

8.3 Comparative Product Portfolio Analysis

8.4 Market Positioning/Share Analysis

8.5 Mergers and Acquisitions Analysis

 

Section 9. Company Profiles

9.1 Deere and Company

9.2 Action Construction Equipment Limited (ACE)

9.3 Mahindra & Mahindra Ltd

9.4 Escorts Limited

9.5 Volvo Construction Equipment

9.6 Tractors and Farm Equipment Limited (TAFE)

9.7 Komatsu India Pvt. Ltd.

9.8 Tata Hitachi Construction Machinery Co., Ltd.

9.9 JCB India Limited

9.10 Hyundai Construction Equipment India Co., Ltd.

 

Section 10. India Agriculture and Construction Equipment Market – Premium Insights

Section 11. India Agriculture and Construction Equipment Market – DataM

11.1 Appendix

11.2 About Us and Services

11.3 Contact Us

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