Press Release

Replacement Tyre Demand to Continue its Domination in Belgium Tyre Market

 Better road infrastructure coupled with rising automobile sales and expanding automobile fleet to drive Belgium tyre market over the next five years

According to TechSci Research report, “Belgium Tyre Market Forecast and Opportunities, 2020”, replacement tyre market in Belgium accounted for more than 60% of the share in the country’s tyre market in 2014. Moreover, the replacement segment is expected to continue its domination over the course of next five years as well. Backed by improving road infrastructure, rising automobile sales and expanding automobile fleet, the tyre market in Belgium is forecast to witness a moderate growth during 2015 – 2020.

As there is no tyre manufacturing plant in the country, the tyre demand is met through imports. Almost all major global players like Continental, Michelin, Pirelli, Goodyear, Bridgestone, Yokohama, etc. have their presence in the country. Rising sales of vehicles, increasing purchasing power of end consumers, and growing penetration of global OEMs is expected to propel growth in the country’s tyre market in the coming years. The country has a presence of both domestic as well as global OEMs, which drive the OEM tyre demand in Belgium. Global passenger car OEMs like Opel, Ford, Audi, Volvo and commercial vehicle OEMs like Van Hool and Truco play a major role in driving the country’s demand of OEM tyres.

“Belgium’s tyre market is replacement driven market, and this segmental domination is expected to continue through 2020. Moreover, the passenger car segmental accounts for more than three-fourths of the overall vehicle fleet in Belgium, which makes the country’s tyre industry highly dependent on the passenger car segment.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Belgium Tyre Market Forecast and Opportunities, 2020” has evaluated the future growth potential of Belgium tyre market and provides statistics and information on market structure, imports and trends of Belgium tyre market. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in Belgium tyre 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.

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