The European Tires Market, 2012 - 2022: Market size, market fore

The European Tires Market, 2012 - 2022: Market size, market forecast and recommendations

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SOURCE Reportlinker

NEW YORK, Dec. 26, 2017 /PRNewswire/ -- The European Tires Market, 2012 - 2022: Market size, market forecast and recommendations

Read the full report: https://www.reportlinker.com/p04719480

Summary
"The European Tires Market, 2012 - 2022", a Trend Report by GlobalData, provides an executive-level overview of the European tires market today, with forecasts of values and volumes up to 2022. It delivers deep quantitative and qualitative insight into the European tires market, analyzing key trends in the market based on proprietary data from GlobalData's aftermarket databases.

It provides in-depth analysis of the following -
- Market volumes generally grew between 2012 and 2017 with relatively few markets stagnating and even fewer declining.
- Volumes have largely been dictated by relatively steady three-year replacement cycles, although with many motorists deferring tire replacement, particularly in the earlier years of the decade, growth was initially restricted.
- This position has now changed, and all markets except Greece and Slovenia recorded growth over the five year period.
- Over the next five years, many of Europe's major tire markets are expected to show small increases in value, as markets continue to recover, sales of new vehicles continue to rise and the parc simultaneously grows and ages.
- Market value is expected to increase steadily between 2018 - 2022. Although value growth is anticipated to be faster than in previous years, an average increase of 19.9% is predicted across the European markets.
- Premium brands will continue to dominate, keeping market value high.
- The online channel is squeezing independent tire fitters. It is especially price sensitive as consumers seek the best prices. As a result, manufacturers and distributors have priced premium products aggressively in order to maintain market share.
- New vehicles are also now required to be fitted with a tire pressure monitoring system (TPMS) which affects the replacement times for tires, requiring more labour and consequently costing more to fit.

Scope
- The volume of tires sold in Europe rose 2.2% between 2016 and 2017.
- Over 47.1 million new tires will be added to the market by 2022, taking the total market volume to 342,654,427
- The value of tires sold in Europe grew by 4.5% between 2016 and 2017.
- The market value is forecast to grow by 19.6% between 2018 and 2022 to reach €39,481.9m.
- Market growth is being driven by manufacturers continuing to chase fuel efficiency gains through the use of different compounds and lightweight construction methods, consumer demand for premium tires over mid-range or budget tires and the continuing trend for vehicles to roll on super-sized rims.
- Tire specialists continue to lead the market in terms of value and volume shares, but increasingly VMNs and the online channel are taking a growing share. The online channel - often supplemented by mobile fitment options - are becoming increasingly popular.

Reasons to buy
- This Trend Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the European tires market based on insights from within GlobalData's proprietary aftermarket database, consumer insight from our bespoke annual survey and interviews with industry experts.
- The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
- The broad but detailed perspective will help manufacturers and retailers to understand and succeed in the challenging tires market.

Read the full report: https://www.reportlinker.com/p04719480

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