European tire market buoyed by all-season demand

Brussels – The European replacement tire market has seen year-on-year improvement in most segments, the European Tyre & Rubber Manufacturers’ Association (ETRMA) has reported.

Consumer tire volumes increased by 5% overall in 2024 to 223.2 million units, buoyed by a 16% increase in demand for all-season tires, according to ETRMA's latest quarterly report.

Full-year demand for winter tires came in 7% above the 2023 level, though summer tire volumes fell 2% year-on-year.

The truck & bus replacement tire segment posted a slight 1% decline over 2023 at 11.3 million units, affected by “non-pool volumes, despite antidumping duties,” ETRMA said 30 Jan.

Supported by rainy weather conditions, shipments of farm tires grew 5% for the full year to 716,000 units, while two-wheeler demand was up 4% at 9.0 million units.

All product lines performed strongly in the final quarter of 2024 compared to a weak prior-year fourth quarter, said ETRMA secretary general Adam McCarthy.

In 2023, he noted, the replacement tire market saw a year-on-year decline of 8% in the consumer segment and 17% fall in the truck & bus segment.

However, in both of these segments volumes remain “far from the pre-pandemic volumes,” being respectively down by 3.5% and 10.3% compared to 2019, added the ETRMA leader.