The production value of rubber tyres and tubes in Germany stood at 6.23 Billion Euros in 2023. Over the last two years, the sector experienced a growth of 4.95% year-on-year from 2022 to 2023 and a notable increase of 7.13% from 2021 to 2022. The compound annual growth rate (CAGR) over the past five years shows a modest average increase of 0.34% per year. Forecasts suggest continued growth, with a predicted CAGR of 0.95% from 2024 to 2028, leading to a 4.85% overall growth rate by 2028.
Trends to watch for in the future include:
- Technological advancements in tyre materials and manufacturing processes to boost efficiency.
- Increased demand for electric vehicles, altering tyre and tube specifications.
- Regulatory changes affecting production standards and environmental impact.
- Fluctuations in raw material prices and supply chain dynamics, potentially impacting production costs.
The industry appears to be on a growth trajectory, albeit modest, and will likely see innovations and shifts driven by both market demand and regulatory frameworks.
