According to TechSci Research report, “Europe Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2013 - 2023”, Europe UHP tire market is projected to cross $ 15 billion by 2023. Anticipated growth in the market can be attributed to rising sales of premium vehicles across the countries in the region. Moreover, various advantages are associated with UHP tires, such as these tires can withstand extreme temperatures, which further makes them a favorable choice in cars.  Additionally, SUVs and CUVs are gaining traction across Europe, consequently, demand for UHP tires is likely to witness an upsurge as these vehicles are equipped with high powered engines.

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Germany dominates Europe UHP tire market and is likely to maintain its dominance in the coming years as well, on the back of rising sales of premium and utility vehicles across the country.  Among vehicle types, passenger car is the leading segment backed by rising number of nuclear families and increasing per capita income resulting in growing demand for passenger cars. Rising presence of various companies such as Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental AG, Hankook Tire Co., Ltd., Pirelli & C. S.p.A., etc., and their expanding  operations in the region’s tire industry are anticipated to intensify competition in Europe UHP tire market over the course of next five years.

“Automakers across the globe are focusing on offering UHP tires as this segment offers them high profit margins as compared to other tires. Moreover, UHP tires were earlier available only as summer tires, however with the advancement in technology, manufacturers are now focusing on winter and all-seasons tires, which is further expected to fuel their demand over the coming years across Europe.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Some of the top players in Europe UHP Tire industry are: Michelin, Bridgestone Corporation, The Goodyear Tire & Rubber Company, Continental AG, Hankook Tire Co., Ltd., Pirelli & C. S.p.A., The Yokohama Rubber Co., Ltd., Kumho Tire Co., Inc., Toyo Tire & Rubber Co. Ltd, and Cooper Tire & Rubber Company.

Browse 104 market data Figures and Tables spread through 115 Pages and an in-depth TOC on "Europe Ultra High-Performance (UHP) Tire Market"

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“Europe Ultra High-Performance (UHP) Tire Market By Vehicle Type, By Tire Type, By Demand Category, By Country, Competition Forecast & Opportunities, 2013 - 2023” has analyzed the potential of UHP tire market across Europe, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced Europe UHP tire market.

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