TechNavio today launched its report Winter Tire Market in Europe 2012-2016 based on an in-depth analysis covering the European region. The report aims to aid decision makers’ understanding of the present and future landscape of the market.
Commenting on the report, an analyst from TechNavio’s Automotive team said: ”The increasing demand for winter tires for light trucks is one of the emerging trends in the Winter Tire market in Europe. The Light Truck Winter Tire segment is an emerging market, and it is estimated that in the near future the market will witness more models. Light truck winter tires have a tread with more biting edges for better grip on snow and ice than all-season tires, and many have a softer rubber material that remains flexible in extremely cold environments. However, in normal weather conditions or on clear roads winter tires might not work as well as all-season tires, and they tend to wear more quickly. Hence, the increasing demand for light truck winter tires will boost the growth of the Winter Tire market in Europe in the coming years.”
According to the report, the increase in government regulations is one of the major drivers in the Winter Tire market in Europe. The use of winter tires is a legal requirement in many countries during the winter months, particularly from November to mid-April or if snow or slush is present on road surfaces. Failure to comply with this requirement can result in a penalty. In recent years, various countries in Europe such as Italy and Romania have adopted new legislation and other countries such as France and Belgium are discussing the introduction of new legislation, while countries such as Germany and the Czech Republic have strengthened their existing winter tire laws. All European countries require either that winter tires are fitted under certain conditions or that vehicle owners use equipment appropriate to the driving conditions.
Further, the report states that the increasing cost of raw materials is one of the major challenges in the Winter Tire market in Europe.
The report also includes a discussion of the key vendors operating in this market. The key vendors dominating this market space are Bridgestone Corp., Continental AG, Michelin SCA, and The Goodyear Tire and Rubber Co. The other vendors mentioned in the report are Cooper Tire and Rubber Co., Pirelli and C. SpA, Continental Corp., TBC Corp., and Hankook Tire Co. Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/winter-tire-market-europe-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit https://www.technavio.com/automotive
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TechNavio Announces the Publication of its Research Report – Winter Tire Market in Europe 2012-2016
