London, 20 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the passenger car tire market in Spain 2015-2019, which is projected to grow at a CAGR of 3.10% during the forecast period of 2014-2019.
The passenger car tire market in Spain is currently experiencing several improvements in terms of product quality and design. It is also witnessing increased investment in the R&D sector for activities such as analysis and simulation, engineering, and rendering.
The growing economy, the available high discounts, improved used passenger car prices, and new models such as the VW Passat, Opel Corsa, and Mercedes C class are supporting the growth of the market in Spain.
“An increase in the number of on-road passenger cars directly influences the demand for passenger car tires. The available vehicle parc in a country necessitates the demand in the replacement tires market during the effective service life of the vehicles,” says Faisal Ghaus, Vice President of Technavio.
Key Market Drivers
- Steady Need for Replacement of Old and Damaged Tires
- Automotive Sales Triggering Growth in OEM Tires
- Falling Crude Oil Prices Leading to Increased Miles Driven per Year, thereby Having a Positive Impact on Tire Demand
- New Product Launches by Key Manufacturers in Europe
Key Market Trends
- Fall in Rubber Prices
- Product Innovations by Vendors
- Future SUV Concept Tire
Key Market Vendors
- Apollo Vredestein B.V.
- Bridgestone Europe NV
- BRISA Bridgestone Sabanci Tire Manufacturing and Trading Inc.
- Continental AG
- Cooper Tire & Rubber Co.
- Debica S.A.
- Deldo Autobanden N.V.
- Falken Tyre Europe GmbH
- FULDA Europe
- Giti Tires Pte. Ltd.
- Goodyear Dunlop Tyres Europe B.V.
- Goodyear Dunlop Tyres UK Ltd.
- Hwa Fong Rubber Industries Co. Ltd.
- Interstate Tire & Rubber Co.
- Kumho Tire Co. Inc.
- Marangoni S.p.A.
- Maxxis International GmbH
- Michilin 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
- 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%…
