Germany to Dominate Europe Green Tire Market till 2024
Increasing
demand for improving fuel efficiency and rising tire labelling standards to
drive green tire market in Europe through 2024
According
to TechSci Research report, “Europe
Green Tire Market By Vehicle Type, By Product Type, By End User, By Rim
Size, By Country, Competition, Forecast & Opportunities, 2024”, Europe
green tire market is expected to grow at a double-digit CAGR during 2019-2024,
on the back of increasing demand for fuel efficiency and government initiatives
aimed towards green and clean environment. In recent years, automotive
manufacturers’ focus has shifted towards environment friendly raw materials to
reduce the fuel consumption by lowering the vehicle weight and rolling
resistance. Growing dealer & distribution channel of several automakers and
increasing urbanization are some of the other factors that are anticipated to
boost demand for vehicles, which would in turn positively influence the
region’s green tire market during forecast period.
In terms of vehicle type, passenger car segment dominated
the region’s green tire market in 2018 and the trend is likely to continue in
the coming years as well, on
account of high sales of used & new cars and increasing average lifetime of
passenger cars. Based on product type, radial tire is expected to capture the
significant market share, as they offer several benefits over bias tires, such
as better mileage, lesser fuel consumption and better road grip. Thus,
consumers in the region mostly prefer radial tires.
Download Sample Report @ http://www.techsciresearch.com/sample-report.aspx?cid=3949
Customers
can also request for 10% free customization on this report.
Major players operating in Europe green tire market are Compagnie
Générale des Établissements Michelin, Goodyear Dunlop Tires Europe B.V.,
Continental Aktiengesellschaft, Bridgestone Europe NV/SA, Pirelli & C.
S.p.A., Nokian Tyres Plc, Yokohama Europe Gmbh, Hankook Reifen Deutschland
GmbH, Apollo Vredestein B.V., and Cooper Tire & Rubber Company Europe
Limited. Companies operating in the market are adopting organic and inorganic
strategies such as product launch, investments & expansions and agreements
& contracts to ensure growth in the market. Germany is the largest consumer
of green tires in Europe, as the country is one of the major exporting hubs for
automobile producers. Moreover, the country is the fourth largest in terms of
total vehicle production, globally, after China, US and Japan.
“Rising per capita income and anticipated launch of new vehicles are few
of the factors expected to continue boosting green tire sales across Europe during
the forecast period. Over the last few years, the Europe automotive industry
has witnessed considerable growth in the demand for passenger cars and
commercial vehicles, which has been boosting sales of green tires in the
region. This trend is expected to prevail with continuing growth in green tire
production and demand over the next five years.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Europe Green Tire Market By
Vehicle Type, By Product Type, By End User, By Rim Size, By Country,
Competition, Forecast & Opportunities, 2024” has evaluated the
future growth potential of Europe green tire market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in Europe green tire market.
About TechSci Research
TechSci Research is a leading global market research firm publishing
premium market research reports. Serving 700 global clients with more than 600
premium market research studies, TechSci Research is serving clients across 11
different industrial verticals. TechSci Research specializes in research based
consulting assignments in high growth and emerging markets, leading
technologies and niche applications. Our workforce of more than 100 fulltime
Analysts and Consultants employing innovative research solutions and tracking
global and country specific high growth markets helps TechSci clients to lead
rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]