On-highway Vehicles to Lead France Advanced Tires Market till 2024
Growing premium car production
and sales coupled with increasing technological advancements in connected cars and
rising integration of autonomous features to drive France advanced tires market
through 2024
According
to TechSci Research report, “France Advanced Tires Market By Vehicle Type, By Technology,
By Tire Type, By Material Type, Competition, Forecast & Opportunities, 2024”, France advanced tires market is projected to reach $ 333
million by 2024, backed by increasing production and sales of premium and
luxury cars and growing integration of autonomous features in passenger cars. Advanced
tires which include run-flat tires and airless tires have several advantages
over regular tires, as run-flat tires can be driven generally up to 50-80kms in
case of a puncture. Moreover, several tire manufacturers are spending
extensively on their research & development activities to enhance their
products, which in turn would fuel the country’s advanced tire market during
forecast period.
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France advanced tires market can be segmented based on vehicle type, technology,
tire type and material type. In terms of vehicle type, on-highway vehicles dominated
the advanced tires market in 2018, as advanced tires
have the maximum penetration in the passenger car segment. Moreover, advanced
tire manufacturers are working extensively on advanced tires for commercial
vehicles and military vehicles as well, and the trend is likely to continue during
the forecast period. Based on technology, chip-embedded advanced tires account
for the largest market share, owing to the technology’s longer duration in the industry.
Based on tire type, demand for run-flat tires is anticipated to increase in
coming years, owing to growing preference of automobile manufacturers to equip
their automobiles with run-tires.
Continental, Cooper Tire, Michelin, Hankook, Bridgestone and Pirelli are
few of the leading players operating in France advanced tires market. Companies
operating in the market are using organic strategies such as product launches and
collaborations in order to register positive growth in the market. Moreover,
the companies are continuously trying to expand their product portfolio to
attract automobile manufacturers towards their products. Over the next few
years, growing technological advancements in the automotive industry and
expanding research & development by several tire manufacturers in the
advanced tires industry is expected to make advanced tires more affordable and
more accessible to a wider range of consumers across the country.
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“Northern and Western France are the major demand generating regions in France
advanced tires market. Early adoption of advanced tires coupled with high
population density is supporting the demand for advanced tires in the regions,
which account for a significant share of industrial, commercial and financial
sectors in the country. Increasing production and sales of premium and luxury
cars in these regions is helping to buoy the demand for advanced tires.”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“France Advanced Tires Market By Vehicle Type, By Technology,
By Tire Type, By Material Type, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of advanced
tires market and provides statistics & 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 decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in France advanced tires market.
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