London, 29 June 2015: Technavio, the independent tech-focused global research firm, has published a report on the passenger car tires market in Italy 2015-2019, which is predicted to post a CAGR of 5.55% during the forecast period of 2014-2019.
One of the trends in the tire industry is the growing use of environmentally friendly raw materials. Goodyear has been experimenting with soybean oil in the manufacture of tires. Other manufacturers are also following the trend of using greener raw materials. Yokohama has started using oil derived from orange peels in one of its models of passenger car tires.
“RFID technologies are used in a variety of applications including tags in superstores, amusements park tickets, car rental services, and in the field of healthcare,” says Faisal Ghaus, Vice President of Technavio.
“Companies have started using RFID tags in their tires to assist them in tracking the tires through the supply chain. In 2013, Kumho Tires announced plans to embed a passive RFID tag in all of its tires.”
Key Market Drivers
- Improving Demand for Passenger Cars
- Availability of Financial Credit Options
- Improving Economic Scenario
Key Market Trends
- Use of Bio-oils in Tire Manufacture
- Growing Use of RFID Tires
- Development of Smart Tires
- Self-sealing Tires
Key Market Vendors
- Apollo Vredestein
- Bridgestone Europe
- Compagnie Générale des Établissements Michelin (Michelin)
- Continental AG
- Goodyear Dunlop (EMEA)
- Pirelli & C. SpA
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%…
