London, 23 April 2015: Technavio, the independent tech-focused global research firm, has published a report on the winter tire market in Italy 2015-2019, which is expected to grow at a CAGR of 1.11% during the forecast period of 2014-2019.
“Tire manufacturers have increased their investment in R&D to provide innovative products. They are focusing on improving the fuel efficiency and durability of tires for better drive quality,” says Faisal Ghaus, Vice President of Technavio.
“For instance, Bridgestone, Continental, and Michelin are continuously upgrading their product portfolios to provide a better end-user experience.”
Key Market Drivers
- Passenger car segment driving volume growth in market
- Growing awareness among consumers
- New product launches by key manufacturers in Europe
- Increase in number of automobiles
Key Market Trends
- Buyers prefer motoring magazine advice to less-understood winter tire labels
- Product innovations by vendors
- Growing competition among vendors
- Increased investment by tire vendors
Key Market Vendors
- Apollo Vredestein BV
- Bridgestone Corp.
- Continental AG
- Cooper Tire & Rubber Co.
- Goodyear Dunlop Tires Europe B.V.
- Kumho Tire Co. Inc.
- Maxxis International GmbH
- Michelin Corp.
- Nokian Tyres Inc.
- Pirelli Tyre SpA
- ROSAVA Tires
- Sumitomo Rubber Industries Ltd.
- Toyo Tire & Rubber Co. Ltd.
- 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%…
