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Research and Markets: Europe Tire Market Report 2020: Vehicle Type (PC, LCV, M&HCV, 2W & OTR), Online Vs Offline, Radial Vs Bias, Demand Category (OEM Vs Replacement) - ResearchAndMarkets.com ResearchAndMarkets.com s offering. The European Tire Market stood at USD 409.53 Billion in 2019 and is projected to reach USD 450.56 Billion by 2025, on account of increasing tire production capacity, growing vehicle sales and expanding automobile fleet in the region. Moreover, increasing per capita income and subsidies on the purchase of electric vehicles are few of the other factors that are expected to aid the tire market in Europe in the coming years. Tire sales plummeted by more than 10% in the first half of 2020; but initiatives taken by the countries present in the region in the form of stimulus package are expected to benefit automotive sector. For instance, on 26 May 2020, French government announced stimulus package worth USD 9.47 billion to rescue the automotive industry and bo

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