France and Benelux Advanced Tires Market, By Type (Pneumatic Tires, Run-Flat Tires, Airless Tires, and Others), Material Type (Rubber, Elastomers, Steel, and Others), Technology (Self-Inflating Tires, Chip-Embedded Tires, Multi-Chamber Tires, and All-In-One Tires), Vehicle Type (On-Highway and Off-Highway) – Industry Trends and Forecast to 2031.
France and Benelux Advanced Tires Market Analysis and Insights
The France and Benelux advanced tires market is witnessing robust growth, fueled by several key factors. Stricter emission norms and a heightened emphasis on emission reduction initiatives are driving the adoption of advanced tire technologies in the region. Technological advancements in tire manufacturing, particularly in the development of eco-friendly and fuel-efficient tire solutions, have further contributed to market expansion. The increasing demand for Electric Vehicles (EVs) and the adoption of advanced tire technologies by the luxury vehicle segment present significant growth opportunities. The market is poised for sustained development in the coming years as consumers prioritize fuel efficiency and environmental concerns.
Data Bridge Market Research analyzes that the France and Benelux advanced tires market is expected to reach USD 287,206.60 thousand by 2031 from USD 72,485.29 thousand in 2023, growing at a CAGR of 18.9% during the forecast period of 2024 to 2031.
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016–2021)
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Quantitative Units
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Revenue in USD Thousand
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Segments Covered
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Type (Pneumatic Tires, Run-Flat Tires, Airless Tires, and Others), Material Type (Rubber, Elastomers, Steel, and Others), Technology (Self-Inflating Tires, Chip-Embedded Tires, Multi-Chamber Tires, and All-In-One Tires), Vehicle Type (On-Highway and Off-Highway)
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Countries Covered
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France, Netherlands, Belgium, and Luxembourg
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Market Players Covered
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MICHELIN, The Goodyear Tire & Rubber Company, Nokian Tyres plc., Bridgestone Corporation, Continental AG, Hankook Tire & Technology, Pirelli & C. S.p.A., Toyo Tire Corporation, MAXXIS UK, Falken Tyre Europe GmbH, THE YOKOHAMA RUBBER CO., LTD., and Nexen tire, among others
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Market Definition
Advanced tires encompasses a diverse range of technologically advanced tire products equipped with sensors designed for measuring air pressure. These innovative tires go beyond conventional functionalities, incorporating cutting-edge sensor technology to enhance performance and safety.
France and Benelux Advanced Tires Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Stricter Emission Norms and Focus on Reduction of Emissions
The automotive industry has witnessed a paradigm shift towards sustainable practices due to the urgent need to address environmental concerns, including the reduction of emissions of Nitrogen Oxide (NOx) and Carbon Dioxide (CO2). In the quest for sustainability, the France and Benelux advanced tires market is at the forefront of adopting cutting-edge techniques that reduce the negative environmental effects of tire production.
The conventional process of manufacturing automotive tires relies heavily on materials such as natural rubber, synthetic rubber, Sulphur, elastomers, and other carbon compounds. Unfortunately, these essential components contribute significantly to carbon emissions during tire production. The manufacturing of tires needs to be revolutionized in response to ever-stricter emission laws.
- Technological Advancement in Tires
In the dynamic landscape of the automotive industry, the market is witnessing a transformation in growth propelled by significant technological advancements. These innovations are not only enhancing the performance and safety of tires but are also shaping a new era of smart and efficient driving experiences.
One of the key technological breakthroughs driving the advanced tires market is the integration of in-built sensors. Tires equipped with sensors have emerged as game-changers, allowing real-time monitoring of critical parameters such as air pressure and temperature. This innovation addresses a longstanding challenge in the automotive industry – the need for proactive tire maintenance. With in-built sensors, drivers can receive instant alerts and insights into tire health, reducing the risk of accidents and enhancing overall road safety.
Technological advancements in tires are serving as a powerful driver for market growth. With in-built sensors, RFID technology, and run-flat capabilities, these advancements are not only enhancing safety and efficiency but also paving the way for a more connected and intelligent driving future in the region, thereby propelling the market growth.
Opportunity
- Growing Demand for Electric Vehicles (EVs) and Luxury Vehicle Segment Adopting Advanced Tire Technologies
Luxury vehicles, known for their superior performance, cutting-edge technology, and opulent design, have become a symbol of prestige and sophistication. The France and Benelux regions are witnessing a steady increase in the demand for these premium automobiles, driven by a growing segment of consumers who seek not just transportation but an elevated driving experience.
One of the key contributors to the luxurious driving experience is the use of advanced tires specifically designed for high-performance vehicles. These tires are engineered to deliver optimal handling, enhanced traction, and a smooth ride, complementing the superior features of luxury vehicles. The demand for such advanced tires is creating a significant opportunity for tire manufacturers to develop and supply products that cater to the unique needs of luxury car owners.
Restraints/Challenges
- High Initial Investment in R&D and Mass Production of Advanced Tires
Developing advanced tires with cutting-edge technologies demands substantial investment in R&D. Tire manufacturers in the France and Benelux regions are constantly working to enhance tire performance, durability, and sustainability. However, the intricate nature of tire innovation, coupled with the need for specialized materials and technologies, translates into a high initial cost associated with R&D activities.
Once innovative tire technologies are developed, transitioning to mass production involves additional financial considerations. The implementation of advanced manufacturing processes, the acquisition of specialized machinery, and the training of personnel contribute to the overall cost of mass production. This phase is crucial for bringing advanced tires to the market at scale, but the initial financial investment poses a restraint for manufacturers.
The cumulative effect of high R&D and mass production costs directly influences the product cost of advanced tires. While these tires offer enhanced features, improved performance, and environmental benefits, the market may face challenges in terms of consumer adoption due to the higher price point. Affordability remains a critical factor influencing purchasing decisions in the highly competitive automotive industry. Thus, high initial investment in R&D and mass production of advanced tires is restraining the market growth.
- Extreme Weather Conditions Demanding Specialized Materials and Development for All-Season Tires
Europe's climate, characterized by varying temperatures and weather patterns, poses a continuous challenge for tire manufacturers operating in the France and Benelux regions. Companies in the advanced tire industry struggle with the need to develop tires that cater to the specific demands of each season, balancing performance in both extremes.
The tread rubber composition plays a pivotal role in determining tire performance under different weather conditions. In extremely cold temperatures, the tread rubber of all-season or summer tires tends to stiffen, diminishing its ability to provide optimal traction on icy or snow-covered roads. This stiffness poses a safety concern for drivers.
Recent Developments
- In January 2024, Continental AG unveiled a ground-breaking Digital Tire Management Solution for Commercial Vehicles, featuring a cutting-edge sensor that efficiently gathered tire condition data. The new valve cap sensor, compatible with tires from leading manufacturers, allowed fleets a swift ContiConnect integration, according to Clarisa Doval, Head of Digital Solutions at Continental Tires. This digital tire monitoring promised to reduce fleet costs effectively. This launch helped the company expand its product portfolio and resulted in an increase in revenue
- In December 2023, THE YOKOHAMA RUBBER CO., LTD. enhanced its presence in Vietnam by separating the sales unit of its tire production subsidiary Yokohama Tyre Vietnam Inc. (YTVI) into a new entity called Yokohama Tyre Sales Vietnam Co., Ltd. (YTSV). This strategic move became effective from January 1, 2024, which allowed the company to better address the surging demand for radial tires in Vietnam and reinforce its commitment to expanding in the ASEAN region, particularly in the growing Vietnamese market
- In August 2023, Continental AG's ContiConnect Live digital solution was upgraded, which facilitated real-time digital tire monitoring for free-standing truck trailers. The telematics unit received tire sensor data, transmitting it to the ContiConnect portal. This system delivers ongoing updates on trailer tire inflation status and temperature when linked to a power unit, serving both freestanding and coupled trailers seamlessly. This upgrade helped the company increase its overall revenue
- In July 2023, Continental AG, a pioneer in tire technology, enhanced its Conti Urban bus tire lineup with cutting-edge sensors for urban traffic challenges. The smart tire range, including Conti Urban HA3, Conti UrbanScandinavia HA3+, and Conti UrbanScandinavia HD3, was factory-equipped with sensors, making fleet digitalization a reality. This innovation, available since August 2023, established Continental as the first manufacturer to introduce a complete tire family embedded with sensors. This upgrade helped the company meet the growing demand for Conti Urban tires with sensor technology
- In January 2023, Bridgestone Corporation collaborated with Lamborghini to create a ground-breaking all-terrain tire for the Huracán Sterrato. The Bridgestone Dueler All-Terrain AT002, specifically engineered for the unique requirements of the supercar, showcased bespoke polymers and patterns. With the incorporation of Run-Flat Technology (RFT), the tire aimed to optimize on-road and off-road performance, amplifying the thrill of driving the Huracán Sterrato on various terrains. This collaboration helped the company strengthen its relationship and opened doors for future business
France and Benelux Advanced Tires Market Scope
The France and Benelux advanced tires market is segmented into four notable segments based on type, material type, technology, and vehicle type. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the differences in your target markets.
Type
- Pneumatic Tires
- Run-Flat Tires
- Airless Tires
- Others
On the basis of type, the France and Benelux advanced tires market is segmented into pneumatic tires, run-flat tires, airless tires, and others.
Material Type
- Rubber
- Elastomers
- Steel
- Others
On the basis of material type, the France and Benelux advanced tires market is segmented into rubber, elastomers, steel, and others.
Technology
- Self-Inflating Tires
- Chip-Embedded Tires
- Multi-Chamber Tires
- All-In-One Tires
On the basis of technology, the France and Benelux advanced tires market is segmented into self-inflating tires, chip-embedded tires, multi-chamber tires, and all-in-one tires.
Vehicle Type
- On-Highway
- Off-Highway
On the basis of vehicle type, the France and Benelux advanced tires market is segmented into on-highway and off-highway.
France and Benelux Advanced Tires Market Analysis/Insights
The France and Benelux advanced tires market is segmented into four notable segments based on type, material type, technology, and vehicle type.
The countries covered in this market report are France, Netherlands, Belgium, and Luxembourg.
The Netherlands is expected to dominate the Benelux advanced tires market due to the presence of globally recognized tire manufacturers in the country, material and production advancements, and strong trade connections.
The country section of the report also provides individual market-impacting factors and changes in regulation in the domestic market that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of country brands and their challenges faced due to large or scarce competition from local and domestic brands and the impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and France and Benelux Advanced Tires Market Share Analysis
The France and Benelux advanced tires market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, product width and breadth, application dominance, and product type lifeline curve. The above data points provided are only related to the company’s focus on the market.
Some of the major market players operating in the France and Benelux advanced tires market are MICHELIN, The Goodyear Tire & Rubber Company, Nokian Tyres plc., Bridgestone Corporation, Continental AG, Hankook Tire & Technology, Pirelli & C. S.p.A., Toyo Tire Corporation, MAXXIS UK, Falken Tyre Europe GmbH, THE YOKOHAMA RUBBER CO., LTD., and Nexen tire, among others.
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