Europe Green Tire Market to Grow at 14% until 2024
Increasing government
regulations on tire energy labelling in the region to drive Europe green tire
market through 2024
According
to TechSci Research report, “Europe Green Tire Market
By Vehicle Type, By Product Type, By End User, By Rim Size, By Country,
Competition, Forecast & Opportunities, 2024”, Europe green tire market is expected to register a CAGR of
around 14% during 2019 - 2024, owing to growing production of automobiles and
continuously expanding automobile fleet. Moreover, increasing government
regulations on tire energy labelling is expected to boosting demand for green
tires in the region through 2024.
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in-depth TOC on "Europe Green Tire Market"
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Europe green tire market can be segmented based on vehicle type, by product
type, by end user, by rim size and by country. Passenger car is the dominant
segment in the Europe green tire market on account of expanding passenger car fleet
size, growing passenger car production and sales, and high consumer preference
for passenger cars in the region. In
terms of end user, the market can be segmented into Aftermarket and OEM. The Aftermarket segment is expected to account for the largest
market share by volume in 2019 due to large automotive fleet size and high
replacement rate of tires.
Compagnie Générale des Établissements Michelin, Bridgestone Europe NV/SA,
Continental Aktiengesellschaft, Goodyear Dunlop Tires Europe B.V., and Pirelli
& C. S.p.A., are the leading players operating in Europe green tire market.
Companies operating in the market are using organic strategies such as product
launches, mergers and collaborations to boost their market penetration. Increasing
regulations for tire energy labelling are also pushing the Europe green tire manufacturers
to innovate their tire offerings
to attract consumers.
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“Europe green tire market is forecast to
witness robust growth in the coming years owing to increasing government
regulations such as tire labelling, which requires tire manufacturers to have clear
tire energy labelling to provide a clear
and common classification on the basis of tire efficiency related to external
noise, fuel efficiency and braking in wet conditions”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management consulting
firm.
“Europe Green Tire Market By Vehicle Type, By
Product Type, By End User, By Rim Size, By Country, Competition, Forecast &
Opportunities, 2024” has evaluated the future growth
potential of Europe green tire market and provides statistics & information
on market size, structure and future market growth. The report intends to
provide latest 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 Europe
green tire market.
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