London, 20 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the passenger car tires market in the Netherlands 2015-2019, which is expected to grow at a CAGR of 1.64% during 2014-2019.
The rise in passenger car sales is expected to lead to an increase in on-road passenger car sales, which directly influences the demand for replacement tires for passenger cars. New passenger car sales are expected to grow steadily during the forecast period primarily due to improvements in economic conditions and rising consumer confidence, which will subsequently support the growth of the OEM tires segment.
“With increased driving, passenger car tires, which have an average service life of about 37,000 miles in the Netherlands, are expected to wear out early, therefore necessitating the replacement of worn-out tires,” says Faisal Ghaus, Vice President of Technavio.
“Considering the number of passenger cars currently in use, the prospects of the replacement tires market appear stable over the forecast period.”
Key Market Drivers
- Steady Need for Replacement of Old and Damaged Tires keeping the Market Buoyant
- Falling Crude Oil Prices Leading to Increased Miles Driven per Year, thereby having a Positive Impact on Tire Demands
- Increase in Demand for Passenger Cars Affecting both OEM and Replacement Tire Market
- Focus on Safety, Reducing the Usual Time-Lag in Tire Replacement Cycle
Key Market Trends
- Fall in Rubber Prices
- Product Innovations by Vendors
- Self-sealing Tires
- Future SUV Concept Tire
Key Market Vendors
- Apollo Vredestein B.V.
- Bridgestone Europe NV
- BRISA Bridgestone Sabanci Tire Manufacturing and Trading Inc.
- Continental AG
- Cooper Tire & Rubber Co.
- Debica S.A.
- Deldo Autobanden N.V.
- Falken Tyre Europe GmbH
- Giti Tires Pte. Ltd.
- Goodyear Dunlop Tyres Europe B.V.
- Goodyear Dunlop Tyres UK Ltd.
- Hwa Fong Rubber Industries Co. Ltd.
- Interstate Tire & Rubber Co.
- Kumho Tire Co. Inc.
- Marangoni S.p.A.
- Maxxis International GmbH
- Michelin Corp.
- Nankang Rubber Tire Corp. Ltd.
- Nexen Tire Corp.
- Nokian Tyres Inc.
- Pirelli Tyre SpA
- ROSAVA Tires
- Sailun Group
- Sumitomo Rubber Industries Ltd.
- Toyo Tire & Rubber Co. Ltd.
- Triangle Group
- Vee Rubber Group
- Yokohama Rubber Co. Ltd.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
