France Tire Market to Grow at 6% CAGR through 2021
Rising
automobile sales, growing production of automobiles and improving macroeconomic
outlook to drive France tire market through 2021
According to TechSci Research
report, “France
Tire Market Forecast and Opportunities,
2021’’, tire
market in France is forecast to grow at a CAGR of over 6% in value terms through
2021. Growth in the market is anticipated on account of improving macroeconomic
scenario, rising average selling prices of tires and growing vehicle fleet.
Furthermore, with growing internet penetration, various e-commerce websites are
offering tires with attractive deals and offers, which has been positively
influencing the country’s tire market over the last few years.
France is one of the largest
tire markets in the European region. France tire market is dominated by various
tire manufacturing giants such as Michelin, Goodyear Dunlop, Continental, and Bridgestone,
among others. Being a domestic player, Michelin is familiar with the local
market scenario, and hence, has an edge over other foreign tire players
operating in the country. Region-wise, in 2015, Northern France accounted for
largest volume share in the country’s tire market, and the same trend is
anticipated to continue through 2021. Further, passenger car segment is
forecast to dominate France tire market over the next five years owing to
increasing passenger car sales, expanding passenger car fleet and growing
purchasing power of the consumers.
Browse 37 market data Tables and 33 Figures
spread through 124 Pages and an in-depth TOC on "France
Tire Market "
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“During 2011 - 2015, due to
the impact of Eurozone crisis, automobile sector in France could not deliver to
its full potential, and consequently, tire industry in France was negatively
affected due to decline in automotive production during the same period.
However, with comparatively stable macroeconomic scenario, automobile
production and sales are anticipated to grow in the coming year, which is
expected to boost tire market in France during forecast period. Moreover, the
country’s replacement tire demand is anticipated to grow at a higher pace in
comparison to the OEM tire demand over the course of next five years.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
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“France
Tire Market Forecast and Opportunities, 2021” has evaluated the future growth
potential of tire market in France, and provides statistics and information on
market structure, imports and trends. The report is intended to provide
cutting-edge market intelligence and help decision makers take sound investment
evaluation. Besides, the report also identifies and analyzes emerging trends
along with essential drivers, challenges and opportunities available in France tire
market.
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