NEW YORK, Feb. 23, 2017 /PRNewswire/ -- Summary
Market Volumes
Market volumes generally grew between 2012 and 2016 with relatively
few markets stagnating and even fewer declining. Volumes have
largely been dictated by relatively steady three-year replacement
cycles, although with many motorists deferring tire replacement,
particularly in the earlier years of the decade, growth was
initially restricted.
This position has now changed, and all markets except Greece and Slovenia recorded growth over the five year
period. Over the next four years, many of Europe's major tire markets are expected to
show small increases in value, as markets continue to recover,
sales of new vehicles continue to rise and the parc simultaneously
grows and ages.
Market Values
Market value is expected to increase steadily between 2017 - 2020.
Although value growth is anticipated to be slower than in previous
years, an average increase of 8% is predicted across the European
markets. Premium brands will continue to dominate, keeping market
value high. The online channel is squeezing independent tire
fitters. It is especially price sensitive as consumers seek the
best prices. As a result, manufacturers and distributors have
priced premium products aggressively in order to maintain market
share. New vehicles are also now required to be fitted with a tire
pressure monitoring system (TPMS) which affects the replacement
times for tires, requiring more labour and consequently costing
more to fit.
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Key Findings
- The volume of tires sold in Europe rose 1.7% between 2015 and 2016.
- Over 22.6 million new tires will be added to the market by 2020,
taking the total market volume to 318,284,962.
- The value of tires sold in Europe grew by 4.1% between 2015 and 2016.
- The market value is forecast to grow by 11.2% by 2020 to reach
€195,262,174,317.
- Market growth is being driven by manufacturers continuing to
chase fuel efficiency gains through the use of different compounds
and lightweight construction methods, consumer demand for premium
tires over mid-range or budget tires and the continuing trend for
vehicles to roll on super-sized rims.
- Tire specialists continue to lead the market in terms of value
and volume shares, but increasingly VMNs and the online channel are
taking a growing share. The online channel - often supplemented by
mobile fitment options - are becoming increasingly popular.
Synopsis
The European Tyres Market 2012-2020", a Trend Report by GlobalData,
provides an executive-level overview of the European tires market
today, with forecasts of values and volumes up to 2020. It delivers
deep quantitative and qualitative insight into the European tires
market, analyzing key trends in the market based on proprietary
data from GlobalData's aftermarket databases.
It provides in-depth analysis of the following:
- Market size and forecast; a look at the total market size and
forecast size for tires in Europe,
with an overview regional analysis.
- Market value and forecast; a look at the total market value and
forecast value for tires in Europe, with an overview regional
analysis.
- Summary of main influences; an overview on the factors
driving the evolution of the European tires market.
Reasons To Buy
- This Trend Report helps executives build proactive, profitable
growth strategies by offering comprehensive, relevant analysis of
the European tires market based on insights from within
GlobalData's proprietary aftermarket database, consumer insight
from our bespoke annual survey and interviews with industry
experts.
- The report is designed for an executive-level audience, boasting
presentation quality that allows it to be turned into presentable
material immediately.
- The broad but detailed perspective will help manufacturers and
retailers to understand and succeed in the challenging tires
market.
Read the full report:
http://www.reportlinker.com/p04719480-summary/view-report.html
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