Italy Tire (Tyre) Market Research Report, 2027

In Italy, the North-West region dominates the tyre market as the region is a hub of various commercial and cultural activities. The region’s share is further anticipated to increase in the coming years on account of a growing fleet and sales of automotive vehicles. A tyre is a rubber ring placed over the rim of a wheel. It supports the weight of the vehicle, absorbs road shocks, transmits traction, torque and braking forces to the road surface, and maintains and changes the direction of travel. With the government of Italy increasing its focus on macroeconomic reforms, anticipated growth in the construction, agricultural and industrial sectors is forecast to boost the country's automobile and tyre industries in the coming years. A few of the major tyre brands operating in Italy include Michelin, Pirelli, Continental, and Bridgestone.

According to the report titled "Italy Tire (Tyre) Market Research Report, 2027" published by Actual Market Research (ActualMR), the tyre market of the country is expected to grow at a CAGR of around 5% by the end of the forecast period. The tyre market in Italy has various segments and different types of tyres are classified on that basis. On the basis of end use, OEM (Original Equipment Manufacturer) tyres and replacement tyres are classified. OEM has low demand due to its high cost and its limitations as the soft rubber used for tyres wears out quickly. It has low performance during off-road driving and long trips. Radial tyres and bias-ply tyres are available on the basis of design type. Bias ply has high market growth in Italy because it is less expensive, provides a smooth ride on a rough surface, and its thicker sidewall is more resistant to cuts and punctures. On the basis of vehicle type, passenger cars, commercial-light weight, commercial-heavy, two-wheelers, three-wheelers and other tyres are available in the Italian market. Two-wheeler and three-wheeler tyres have very low market demand because of the low market for two-wheeler and three-wheeler vehicles.

OEM tyres are especially specified by the vehicle manufacturer and they are fitted when the vehicle is new. Replacement tyres are those tyres which are purchased to replace the OEM tyres. The replacement tyres are known as aftermarket tyres. The CAGR of OEM tyres was low in the past year, and during the forecasted period it is expected to grow gradually. A radial tyre is a particular design of vehicular tire. In this design, the cord plies are arranged at 90 degrees to the direction of travel. A bias tyre is made of layers of rubber-coated fabric placed at angles of approximately 30–40 degrees, with successive plies laid at opposing angles forming a crisscross pattern to which the tread is applied. In past years, the market attractiveness of the radial tyre was low because it is more expensive and has poor transport handling. It is expected that the market attractiveness of radial tyres will grow constantly by 2027.

Commercial-lightweight tyres usually consist of industrial rib tyres, light truck tyres, and well-designed super lug tyres. This type of tyre is more suitable for long distances. Passenger car tyres are designed mainly for ride comfort, traction, handling, and wear life, as well as appearance and affordability. Commercial-heavy tyres are used for construction vehicles, agricultural and forestry equipment, and other applications that take place on soft terrain. Two-wheeler and three-wheeler tyres vary according to the shape and size of the vehicles, and they provide better traction on the road surface. The market for passenger car tyres was high in the past year, and it is expected that it will have vigorous growth during the forecasted period. Technological development in manufacturing and the high demand for automobiles drive the tyre market, while the development of the retreading business and the expensive pricing of raw materials are an obstacle to the growth of the tyre market in Italy.

Pirelli & C. S.P.A. is a multinational tyre manufacturer based in Milan, Italy, known as one of the three top European tyre makers. Pirelli competes with both Michelin and Continental. Owning the economy tyre brands Courier and Ceat, Pirelli tyres are often as expensive as the top tyre brands, Bridgestone and Goodyear. Pirelli is better with high-performance tires, and Pirelli is slightly in front with its all-terrain or off-road tires.

In 2020, the spread of the COVID-19 pandemic directly impacted on many businesses across Italy, which introduced several challenges for the leading players operating in the tyre industry. With the exponential spread of this dreadful disease, the government had to impose lockdowns and stringent movement restrictions and suspend all business operations.

Considered in this report
Geography: Italy
Historic Year: 2016
Base year: 2021
Estimated year: 2022
Forecast year: 2027

Aspects covered in this report
South Africa tire (tyre) industry Market with its value and forecast along with its segments
Application-wise tire (tyre) industry distribution
Various drivers and challenges
On-going trends and developments
Top profiled companies
Strategic recommendation

Based on market share:
By End-use
By Vehicle type
By design type

Based on By End-use types:
By original equipment manufacturer (OEM)
By Replacement type

Based on By vehicle types:
Passenger cars
Commercial light-weight
Commercial heavy-weight
Two-wheelers
Three-wheelers
Other types

Based on By Design types:
Radial
Bias tire (tyre)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, analysis the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have to start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry manufacturers, consultants, and Key vendors related to Tire (tyre) industry. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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