London, 13 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the Winter Tire Market in Germany 2015-2019, which is expected to grow at a CAGR of 1.66 percent during the forecast period of 2014-2019.
The demand for automobiles directly impacts the demand for winter tires and hence influences the winter tire market in Germany. Augmented demand for passenger vehicles and the continuously expanding commercial vehicle market in Germany is an important factor driving the growth of the winter tire market in Germany.
A surge in the number of on-road automobiles directly affects the demand for winter tires. This demand, especially for passenger vehicles, is continuously increasing across Germany and is driving the demand for winter tires.
“The winter tire market in Germany is expected to witness the emergence of high-performance winter tires in the coming years,” says Faisal Ghaus, Vice President of TechNavio.
“For instance, many tire manufacturers have introduced new eco-friendly winter performance tires for the German market. The Winter i*cept evo by Hankook Tire Worldwide is specifically designed with an enhanced tread compound for better performance in all winter conditions for vehicles from every class.”
Key Market Drivers
- Growth in replacement tire segment
- Passenger car segment driving volume growth in market
- Increased investment by tire vendors
- New product launches by key manufacturers in Europe
- High traction offered by winter tires
- Increase in safety concerns
Key Market Trends
- Emergence of high-performance winter tires
- Product innovations by vendors
- Growing competition among vendors
- Buyers prefer motoring magazine advice to less-understood winter tire labels
Key Market Vendors
- Apollo Vredestein BV
- Bridgestone Corp.
- BRISA Bridgestone Sabanci Tire Manufacturing and Trading Inc.
- Continental AG
- Cooper Tire & Rubber Co.
- Debica SA
- Deldo Autobanden NV
- Falken Tire Europe GmbH
- Giti Tires Pte. Ltd.
- Goodyear Dunlop Tires Europe BV
- Goodyear Dunlop Tyres UK Ltd.
- Hwa Fong Rubber Industries Co. Ltd.
- Kumho Tire Co. Inc.
- 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.
If you are interested in more information on this topic and our upcoming research on the Winter Tire Market in Germany 2015-2019; please send an e-mail to media@TechNavio.com.
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