- The key vendors in the winter tire market in Austria are 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 Tyre Europe GmbH, Goodyear Dunlop Tyres UK Ltd., Goodyear Dunlop Tires Europe B.V., GT Radial, 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 Tyres, Sailun Group, Sumitomo Rubber Industries Ltd., Toyo Tire & Rubber Co. Ltd., Triangle Group, Vee Rubber Group and Yokohama Rubber Co. Ltd.
London, 11 May 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the winter tire market in Austria 2015-2019. Emergence of high-performance winter tires is one of the latest trends emerging in the market. Many tire manufacturers have introduced new eco-friendly winter performance tires and the market is expected to witness more innovations in the coming years. The winter tire market in Austria is expected to grow at a CAGR of 1.804 % during the forecast period 2014-2019.
Passenger cars typically account for the majority share of the total vehicle production among all the vehicle segments. Being the biggest segment, passenger cars considerably impact the sales of the tire market in any economy. The rise in demand positively affects the sales figures of key auto manufacturers.
“Vendors are investing heavily in R&D to develop new concepts and products with innovative tread and groove patterns for the winter tire market in Austria,” says Faisal Ghaus, Vice President of Technavio Research.
“Because of intense competition, the market is expected to witness increasing launches of innovative products during the forecast period.”
To define the market conditions 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.
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