Tire Market in Denmark to Surpass € 380 Million by 2021
Rising
automobile sales, expansion of automobile fleet and favorable government
policies to increase demand for tires in Denmark over next five years
According to TechSci Research
report, “Denmark
Tire Market Forecast and Opportunities,
2021’’, tire
market in Denmark is projected to cross € 380 Million ($ 435 Mn) by 2021 on the
back of the country’s reviving automobile sector, increasing automobile sales,
expanding automobile fleet and implementation of favorable government policies. Moreover, rapidly growing
construction industry in Denmark is expected to fuel demand for M&HCV &
OTR vehicles over next five years, which is expected to positively influence
the country’s tire market over the next five years. In addition, anticipated increasing in demand
for passenger cars on account of rising per capita income is also expected to augment
demand for passenger car tires during 2016 - 2021.
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market data Tables and 26 Figures spread through 102 Pages and an in-depth TOC on "Denmark
Tire Market "
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During 2011-2015, automobile sales in Denmark grew at a CAGR of around 15%, with
unit sales in the country increasing from 0.21 million units in 2011 to 0.24
million units in 2015, resulting in expansion of the country’s automotive fleet
(including passenger cars & commercial vehicles) from 2.68 million units in
2011 to 2.83 million units in 2015. Among several global tire companies such as
Continental, Michelin, Bridgestone, Yokohama, etc., selling their tires in the
country, Continental accounted for the largest volume share in Denmark tire
market in 2015, followed by Michelin.
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“Expanding
vehicle fleet size in Denmark positively influenced demand for tires from
replacement segment during 2011-2015. The passenger car tire segment is
expected to be the fastest growing segment in the coming years and is
anticipated to grow at a CAGR of more than 4% during the forecast period.”,
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Denmark
Tire Market Forecast and Opportunities, 2021” has evaluated the future growth
potential of Denmark tire market and provides statistics and information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes the emerging
trends along with essential drivers, challenges and opportunities in Denmark tire market.
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