Car Tires: Key Research Findings
- Decreasing natural rubber prices to have a positive impact on the manufacturers’ profit margins.
- Emergence of all-season tires with a self-sealing feature to drive market growth in Germany.
Technavio has added a new report on the passenger car tires market in Germany 2015-2019, to its automotive portfolio. Analysts estimate that the market will grow at a rate of close to 2% by the end of 2019.
The new research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“In 2011, the demand for natural rubber plunged due to the global economic slowdown and the Euro crisis, resulting in the rapid reduction of natural rubber prices. The fall in natural and synthetic rubber prices coupled with the increase in production of natural rubber is expected to lead to a surplus. This results in the further decline of natural rubber prices, which will in turn benefit the tire vendors by increasing their gross profit margins,” says Sriram Mohan, Lead Analyst, Automotive, Techanvio Research.
Growth in the market for passenger car tires is primarily dependent on the number of passenger cars sold. An increase in the sale of passenger cars in this region will result in the augmented demand for tires that can handle extreme weather conditions. Consequently, vendors in this area are continually innovating new products that will enable them to stand out from the competitive clutter. Pirelli, the Italian tire vendor, has developed a new all-season tire that has self-healing technology. This helps in avoiding instances of tire puncture and also meets the consumers’ growing preference for road safety.
Passenger Car Sales in Germany 2014-2019
Source: Technavio Research
A segment to look out for is the replacement tire segment, which analysts predict is going to grow due to the introduction of mandatory regulations that necessitates tire change at least twice in a year, once during summers and another during winters. The leading companies in the passenger car tires market in Germany are Apollo Vredestein BV, Bridgestone Europe NV, BRISA Bridgestone Sabanci Tire Manufacturing and Trading Inc., Continental AG, Cooper Tire & Rubber Co., Dębica SA, Deldo Autobanden NV, Falken Tyre Europe GmbH, Fulda Europe (A brand of Goodyear Tire & Rubber Co), Giti Tires Pte. Ltd., Goodyear Dunlop Tyres Europe BV, Goodyear Dunlop Tyres UK Ltd., Hwa Fong Rubber Industries Co. Ltd., Interstate Tire & Rubber Co., Kumho Tire Co. Inc., Marangoni SpA, 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, and Yokohama Rubber Co. Ltd.
More detailed analysis is available in the Technavio report Passenger Car Tires Market in Germany 2015-2019. We can customize reports by other regions and specific segments upon request.
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