The Slovakia tire aftermarket, tire replacement market is estimated to increase with a 6.66% CAGR by 2028, and is set to be valued at $1.58 billion during the forecasting period, 2022-2028.

Tire aftermarket, tire replacement is dedicated replacement tires intended to provide all-around performance on any vehicle for which they are sized and rated. The market is driven by factors such as a greater requirement for energy-efficient tires and stringent government regulations regarding labeling. However, the surge in sales of two-wheelers and commercial vehicles has driven the global automotive tire market in the past few years, even if the fluctuating fuel prices persist globally.

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Slovakia’s robust automotive industry considerably aids the growth of the tire replacement sector. According to the American Journal of Economics and Control Systems Management, the automotive sector in Slovakia employs over 27,500 people, which contributes 6% to GDP and accounts for 19% of Slovakia’s total exports of goods and services. The automotive sector in the country is made up of a flexible network of specialized niche players. The automobile industry invests more than average, particularly in innovative manufacturing technology that ensures high-quality cars and components and high productivity. Also, various global players have extended their manufacturing units and sales into the country.

The Slovakia tire aftermarket, tire replacement market evaluation entails segmentation by distribution channel, rim size, and tire type. Market by type covers radial tire and bias tire.

Rubber-coated polyester or steel cable belts are used to make radial tires. These belts are parallel to one another and are installed at a 90-degree angle to the tread center line. The radial construction of the tire reduces the rolling resistance while increasing flexibility. It also helps the tire dissipate heat, extending its life. Because of their radial structure, radial tires are less likely to develop flat areas when not in use for extended periods.

Moreover, radial tires are distinguished from bias-ply tires by their springiness and steering slips. Because bias-ply tires were no longer required to compensate for their shortcomings, cars could now be lighter. On the other hand, motorists were unaccustomed to the experience, necessitating the modification of car suspension systems. The steel wires in radial tires become magnetized with use, forming an alternating magnetic field as they rotate.

In contrast, a bias tire is constructed from layers of rubber-coated fabric plies positioned at 30-40 degree angles, with plies laid consecutively forming a crisscross pattern at opposing angles to which the tread is applied. This design’s main advantages are a smooth ride over rough terrain, increased operator comfort, and the ability to withstand heavy loads. This makes these tires ideal for port and terminal machinery. Bias tires are intended for vehicles that travel at low speeds and have small to medium engines and a flexible chassis. They are also suitable for heavier motorcycles or those carrying a heavy load.

Key players in the Slovakia tire aftermarket, tire replacement market are Bridgestone Corporation, Goodyear Tires, Continental AG, Michelin, Pirelli & C SpA, etc.

Michelin provides tire and mobility services. The company manufactures and markets tires for vans, cars, scooters, trucks, farm equipment, bicycles, motorcycles, conveyor belts, earthmovers, aircraft, and subway trains. Michelin also provides management and maintenance services, sports and leisure gear, car and bike accessories, mobility assistance, etc. In addition, the company develops radial earthmovers, agricultural & aircraft tires, and energy-efficient radial tires. It serves customers in the agricultural, aerospace, automotive, mining, and construction sectors across North America, Europe, and various other regions. The company has distribution and manufacturing facilities worldwide. Michelin is headquartered in Clermont-Ferrand, France.

ENERGY XM2+ from Michelin is one of their popular passenger vehicle tires. The company claims the tire runs 29% longer than its premium competitors.

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