Click me
Transcribed

German Passenger Car Tire Market

GERMAN PASSENGER CAR TIRE MARKET Increasing Demand for All-Season Tires to Drive the German Passenger Car Tire Market in Upcoming Years PASSENGER CAR TIRES MARKET In Million Units 70.8 69.4 68.1 66.8 65.5 64.2 2014 2015E 2016E 2017E 2018E 2019E The overall passenger tires market in the country is estimated to expand at a CAGR of 2.0% during 2015–19. MARKET SHARE OF ALL-SEASON PASSENGER CAR TIRES 44% O Passenger Car Winter Tires (28.4 Million Units) 64.2 Passenger Car All Season Tires (5.9 Million Units) Million Units 9% O Passenger Car Summer Tires (29.8 Million Units) 47% In 2014, sales of all-season passenger car tires recorded an annual volume growth of 8% and stood at 5.9 million units. KEY GROWTH DRIVERS Increase in Sales of Passenger Cars Passenger car sales in Germany are expected to grow at CAGR of 3.4% during 2015-19 mainly driven by expanding consumer base, increasing investments in R&D and rising demand for electric and hybrid vehicles in the country. Increasing Demand for All-Season Tires In 2010, the German government updated its obligation to use the winter tire to depend on the climate and have no specific date of commencement of winter. Improving Profit Margins for the Vendors Since 2011, prices of natural rubber have witnessed significant decline leading to improvements in profit margins for the tire manufacturers, in-turn allowing increased investments in R&D. KEY INNOVATIONS IN ALL-SEASON TIRE TECHNOLOGY MICHELIN IRELLI PA better way forward Pirelli, Italy Michelin - Cross Climate The company has developed a self-healing technology for its new all-season tires which reduces the instances of puncture as well as meet the growing preference for road safety. An all season tire was launched featuring a new rubber compound to enhance flexibility, new material under the tread to enhance energy efficiency and V-shaped tread with new self-blocking 3D sipes for optimal performance in extreme winter conditions. Source: IBIS World Report (Storage and Warehousing in China & Supermarkets in China), KPMG Report (On the move in China), News articles ARANCA VIEW The passenger car tire market in Germany is expected to witness moderate growth at a CAGR of 2% till 2019, mainly driven by increase in passenger car sales, demand for all season tires and better profit margins for manufacturers. The all-season tires segment is expected to drive the passenger car sales in upcoming years. As a result leading players have begun investing in innovative technologies to benefit from this shift in consumer preference. H aranca Compiled by the Business Research Desk br e2017 Aranca, All Rights Reserved. www.aranca.com If you wish to reproduce or use this infographic in any format, please email us at marketing@aranca.com BUSINESS RESEARCH INVESTMENT TECHNOLOGY NTELLIGENCE &IP RESEARCH FOCED INCOME VALUATION PROCUREMENT 8 TRANSACTION QUANTITATIVE RESEARCH A RESEARCHA ADVISORY SUPPLY CHAIN ADVISORY RESEARCH ADVISORY AHALYTKS ANALYTICS INTELLIGENCE

German Passenger Car Tire Market

shared by aranca on Sep 04
13 views
0 shares
0 comments
Increasing demand for all-season tires to drive the German passenger car tire market in upcoming years Explore our work in the Automotive Parts Sector here: - https://www.aranca.com/business-research/...

Category

Business
Did you work on this visual? Claim credit!

Get a Quote

Embed Code

For hosted site:

Click the code to copy

For wordpress.com:

Click the code to copy
Customize size