- The key vendors in the winter tire market in Belgium 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 Tires, 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 Belgium 2015-2019. One of the latest trends emerging in the market is the product innovations by vendors. Because vendors deal with with high operational costs and increased raw material costs, they are developing innovative offerings to remain competitive in the market. Hence, they are investing heavily in R&D to develop new concepts and products with innovative tread and groove patterns for the winter tire market in Belgium. The winter tire market in Belgium is expected to grow at a CAGR of 1.85 % during the forecast period 2014-2019.
The market is witnessing a growth in replacement tire segment, which is expected to drive the market growth in the next five years. The replacement tire market has reduced the dependence of tire manufacturers on OEMs for revenue and sales. In the replacement tire market, manufacturers experience less pricing pressure compared to OEMs.
“The winter tire market in Belgium is expected to witness the emergence of high-performance winter tires in the coming years. For instance, many tire manufacturers have introduced new eco-friendly winter performance tires for the Belgium market,” says Faisal Ghaus, Vice President of Technavio Research.
“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.”
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.
https://www.technavio.com/%3Cp%3E%3Cspan%20style%3D%22line-height%3A%201….
