In 2023, the turnover for rubber tires and tubes in Germany stood at 8.84 billion euros. Over the past two years, the market has shown a steady recovery with a year-on-year increase of 5.25% in 2022 and 3.72% in 2023. Looking at a broader timeframe, the compound annual growth rate (CAGR) from 2019 to 2023 is 0.82%, indicating a slower but positive growth rate.
Future trends to watch for:
- Shift toward sustainable and eco-friendly tire technologies.
- Increasing demand for electric vehicles impacting tire design and materials.
- Adoption of digital technologies and IoT in tire manufacturing and maintenance.
- Potential regulatory changes and trade policies influencing market dynamics.
