Europe green
tire market is expected to grow at a double-digit CAGR during the forecast
period, on account of increasing demand for improving vehicle fuel efficiency. Green
tires are manufactured from renewable materials such as nylon rubber unlike
conventional tires that are made of rubber. Several tire manufacturers have
started adopting environment friendly raw materials that help make tires
lighter, thereby reducing vehicle weight. Low weight of the vehicle provides
high efficiency with low rolling resistance and less fuel consumption.
Moreover, government regulations pertaining to the environmental performance of
tire industry and surging consumer awareness regarding fuel consumption is
expected to positively influence the market during forecast period.
Europe green
tire market can be segmented based on vehicle type, product type, end user and
rim size. Based on vehicle type, the region’s green tire market can be
segmented into passenger car and commercial vehicle. Passenger cars lead automobile
production in Europe and the segment is expected to grow at a brisk rate during
the forecast period. Moreover, automakers are focusing on enhancing the fuel efficiency
of vehicles, which is resulting in high demand for fuel-efficient tires, thereby
driving the green tire market in Europe. Based on product type, the market can
be bifurcated into radial and bias. Consumers prefer radial tires due to their
advantages, such as flexible sidewalls and reduced fuel consumption due to less
vibration and resistance over their counterparts.
Green tire market in Europe is registering growth, on account of increasing
vehicle production and sales and rising per capita income. In terms of regional
analysis, the market has been segmented into Germany,
France, Spain, Italy, UK, Poland and the Netherlands. Germany accounts for
the largest share in the region’s green tire market, primarily due to large
existing fleet of passenger cars in the country. Being one of the major
exporting hubs for automobile producers, Germany’s automotive industry is known
worldwide for its high-quality automobile manufacturing. Moreover, the country
is the fourth largest in terms of total vehicle production, globally, after
China, US and Japan. High vehicle ownership coupled with moderate growth in new
vehicle sales is expected to continue boosting green tire sales in Germany in
the coming years.
Some of
the 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. Key
players operating in the market are investing in innovations to earn sound
returns on investments. Moreover, strategic moves such as mergers and
collaborations are also helping the key players to magnify their customer base
and expand sales & distribution networks.
Years considered for this report:
Historical
Years: 2014-2017
Base Year:
2018
Estimated
Year: 2019
Forecast
Period: 2020-2024
Objective of the Study:
- To analyze and
forecast Europe green tire market size.
- To classify and
forecast Europe green tire market based on vehicle type, product
type, end user, rim size and country.
- To identify drivers
and challenges for Europe green tire market.
- To examine competitive
developments such as expansions, new product launches, mergers &
acquisitions, etc., in Europe green tire market.
- To conduct pricing
analysis for Europe green tire market.
- To identify and
analyze the profile of leading players operating in Europe green tire
market.
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Some of the leading players in Europe
green tire market include 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.
TechSci Research performed both
primary as well as exhaustive secondary research for this study. Initially,
TechSci Research sourced a list of leading manufacturers across the region.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the manufacturers which could not be identified due to the limitations of
secondary research. TechSci Research analyzed the product offerings,
distribution channels and presence of all major players operating in green tire
market in Europe.
TechSci Research calculated Europe green
tire market size using a bottom-up approach, where data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Tire
manufacturers, suppliers, distributors and other stakeholders
- Government
bodies such as regulating authorities and policy makers
- Organizations,
forums and alliances related to green tire market
- Market
research and consulting firms
The study is
useful in providing answers to several critical questions that are important
for industry stakeholders such as green tire manufacturers, suppliers,
distributors and other stakeholders. The report would enable the stakeholders in
strategizing investments and capitalizing on emerging market opportunities.
Report Scope:
In this report, Europe
green tire market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Market, by Vehicle Type:
- Passenger Car
- Commercial Vehicle
- Market, by Product Type:
- Market, by End user:
- Market, by Rim Size:
- 12-15 Inch
- 16-20 Inch
- Above 20 Inch
- Market, by Country:
- Germany
- France
- Spain
- Italy
- United Kingdom
- Poland
- Netherlands
Competitive
Landscape
Company
Profiles: Detailed analysis of the major companies present
in Europe green tire market.
Available Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
- Detailed analysis and profiling
of additional market players (up to five).
In case you
don’t find what you are looking for, please get in touch with our custom
research team at sales@techsciresearch.com
It is an upcoming report to
be released soon. If you wish an early delivery of this report or want to
confirm the date of release, please contact us at sales@techsciresearch.com