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.
Through the adoption of advanced technologies, lightweight materials, and a commitment to recycled and green materials, tire companies in the region are steering towards a more environmentally friendly future. The stricter emission norms and focus on the reduction of emissions are poised to play a pivotal role in driving sustainability across the automotive industry as consumers increasingly prioritize eco-conscious choices, thereby driving market growth.
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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.
Key Findings of the Study
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 the market. 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.
Report Scope and Market Segmentation
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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 (France), The Goodyear Tire & Rubber Company (U.S.), Nokian Tyres plc. (Finland), Bridgestone Corporation (Japan), Continental AG (Germany), Hankook Tire & Technology (South Korea), Pirelli & C. S.p.A. (Italy), Toyo Tire Corporation (Japan), MAXXIS UK (U.K.), Falken Tyre Europe GmbH (Germany), THE YOKOHAMA RUBBER CO., LTD. (Japan), and Nexen tire (South Korea), among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis
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Segment Analysis
The France and Benelux advanced tires market is segmented into four notable segments based on type, material type, technology, and vehicle type.
- On the basis of type, the France and Benelux advanced tires market is segmented into pneumatic tires, run-flat tires, airless tires, and others
In 2024, the pneumatic tires segment is expected to dominate the France and Benelux advanced tires market
In 2024, the pneumatic tires segment is expected to dominate the market with a market share of 57.77% in France and 57.99% in Benelux because pneumatic tires, known for their reliability, performance, and adaptability across various vehicles, have established a strong market presence.
- On the basis of material type, the France and Benelux advanced tires market is segmented into rubber, elastomers, steel, and others
In 2024, the rubber segment is expected to dominate the France and Benelux advanced tires market
In 2024, the rubber segment is expected to dominate the market with a market share of 52.76% in France and 53.02% in Benelux due to its versatility, durability, and widespread use in manufacturing high-performance 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. In 2024, the self-inflating tires segment is expected to dominate the market with a market share of 55.55% in France and 55.75% in Benelux
- On the basis of vehicle type, the France and Benelux advanced tires market is segmented into on-highway and off-highway. In 2024, the on-highway segment is expected to dominate the market with a market share of 65.97% in France and 66.06% in Benelux
Major Players
Data Bridge Market Research analyzes MICHELIN (France), The Goodyear Tire & Rubber Company (U.S.), Continental AG (Germany), Bridgestone Corporation (Japan), and THE YOKOHAMA RUBBER CO., LTD. (Japan) as the major players operating in the France and Benelux advanced tires market.
Market 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 the 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 free-standing 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
Regional Analysis
Geographically, the countries covered in the France and Benelux advanced tires market report are France, Netherlands, Belgium, and Luxembourg.
As per Data Bridge Market Research analysis:
The Netherlands is expected to dominate and is estimated to be the fastest-growing country in the Benelux advanced tires market
The Netherlands is expected to dominate the market due to globally recognized tire manufacturers, material and production advancements, and strong trade connections. Also, the country is expected to be the fastest-growing due to technological advancement in tires.
For more detailed information about the France and Benelux advanced tires market report, click here – https://www.databridgemarketresearch.com/reports/france-and-benelux-advanced-tires-market
