DUBLIN--May 20, 2012: Research and Markets (Research and Markets) has announced the addition of the "The European Tire Market 2011-2015" report to their offering.
This report analyzes the tire market in 28 economies across five regions of Europe from 2007 to 2011, and forecasts its performance through to 2015. It assesses volume and value of tire sales and the market share of different distribution channels.
The economic downturn has been challenging for all European countries and this has been reflected in the tire market. As a result, the European tire market faces a number of challenges leading to 2015. For the countries with an established tire market, such as the leading five countries, the maturity of the market generally means that little dynamic change is expected to take place.
Highlights
New tire labelling legislation, due to be introduced in November 2012, will have a profound effect on the European tire market as it speaks to the core concerns of consumers: cost, quality, and safety.
The most pronounced opportunities for growth are in Eastern and Northern Europe where the recession did little to temper the development of the tire markets; in 2011 the tire market in the Ukraine grew by 12%.
This upward trend is expected to continue for many of these countries.
Winter tire opportunities are present in many of the more established markets across Europe and present the chance for value growth in an environment that expects only modest growth overall. Many of the prime candidate countries for winter tire use are currently underexploited, such as the UK, where only 10% of sales are currently for winter tires.
Companies Mentioned
Apollo Tyres, Ltd., Bridgestone Corporation, Continental AG, Cooper Tire & Rubber Company, JK Tyre & Industries Limited, MRF Limited, Nokian Tyres plc and PT Gajah Tunggal Tbk
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