Greece Tire Market is Expected to be Valued USD 0.49 Billion by 2025
Increase in motorization rate and reviving economy of the
country are some key factors propelling the growth of Greece tire market.
According to TechSci Research report, “Greece
Tire Market By Vehicle Type (Passenger Car, LCV,
M&HCV, OTR, Two-Wheeler and Three -Wheeler), By Demand Category (OEM Vs.
Replacement), By Radial Vs Bias, By Region, Forecast & Opportunities, 2015-
2025”, Greece tire market is expected to witness a
substantial growth and is projected to reach USD 0.49 Billion by 2025. Key
factors driving the growth of Greece tire market are expanding automotive fleet
size, increase in vehicle motorization rate and rise in sale of passenger vehicles.
In 2009, Europe suffered one of the worst economic meltdowns, commonly referred
to as the Eurozone Crisis. Though the crisis impacted the entire region, Greece
was among the most severely affected countries. Due to economic slowdown, the
country’s economy suffered a slump, and multiple public as well as private
banks declared bankruptcy, which impacted various sectors, consequently
restraining growth in Greece’s automobile and related components market over
the last five years. However, the country witnessed signs of revival in 2013
due to several bailout packages offered to Greece by the European Union and the
International Monetary Fund (IMF). Consequently, the country’s tire market also
witnessed a rebound with sale of tires increasing across all the vehicle
segments. To boost new vehicle sales, the Government of Greece introduced a
policy initiative in 2009, wherein the government provided an incentive ranging
from $670 to $3,740 for individuals scrapping their old vehicles for new ones.
The scheme was in effect until the end of 2014. Hence, with reviving economy of
the country and rise in per capita disposable income, Greece tire market is
poised to grow significantly through 2025.
Browse 77 market data Figures and Tables
spread through 159 Pages and an in-depth TOC on "Greece Tire Market"
https://www.techsciresearch.com/report/greece-tire-market/6184.html
Greece tire market is segmented based on vehicle type, demand category,
radial vs bias and region. Based on vehicle type, the market can be categorized
into passenger car, LCV, M&HCV, OTR, two-wheeler and three -wheeler. Among
them, the country’s vehicle fleet is dominated by the passenger car segment,
followed by the two-wheeler vehicle segment. Consequently, the passenger car
tire segment held a share of more than 82% in the country’s tire market in 2019
and its dominance is anticipated to continue during the forecast period as
well. Based on demand category, Greece tire market can be split into
replacement vs OEM. Due to absence of automobile manufacturing in Greece, the
tire market is entirely dependent on the replacement demand, which is being
addressed by flagship as well as Chinese tire brands imported into the country.
The trend is further likely to continue over the next five years.
Leading market players in Greece tire market are Bridgestone Europe
NV/SA, Continental AG, Cooper Tire & Rubber Company, Elastika Michelin A.E,
Elastika Pirelli C.S.A., Goodyear Dunlop Tires Hellas SAIC, Hankook Tire
Company Ltd., Kumho Tire Italia, Toyo Tire and Rubber Co., Ltd. and Yokohama
Rubber Co., Ltd. Key growth strategies being adopted by major tire
manufacturers are mergers & acquisitions, collaborations, partnerships,
joint ventures as well as product innovation.
“Region-wise, in 2019, Northern Greece region accounted for the largest
volume share in the country’s tire market, and the same trend is anticipated to
continue through 2025. Moreover, the country is entirely dependent upon import
of tires mainly from European and Asian manufacturers. As per the World Travel
& Tourism Council, the contribution of travel & tourism sector in the
country's GDP is quite significant which also lays a positive impact on the
country’s automotive and tire market growth,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
Download
Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=6184
Customers can also request for 10% free
customization on this report.
“Greece
Tire Market By Vehicle Type (Passenger Car, LCV, M&HCV, OTR, Two-Wheeler
and Three -Wheeler), By Demand Category (OEM Vs. Replacement), By Radial Vs
Bias, By Region, Forecast & Opportunities, 2015- 2025” has analyzed the potential of Greece tire
market, and provides information and statistics on market structure, size and
trends. The report is designed to provide the intending clients with
cutting-edge market intelligence and help them in taking sound investment
decisions. The report also identifies and analyzes emerging trends along with
essential drivers and key challenges faced by Greece tire market.
About TechSci Research
TechSci Research is a
leading global market research firm publishing premium market research reports.
Serving 700 global clients with more than 600 premium market research studies,
TechSci Research is serving clients across 11 different industrial verticals.
TechSci Research specializes in research based consulting assignments in high
growth and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
Contact
Mr. Ken Mathews
708 Third
Avenue,
Manhattan, NY,
New York –
10017
Tel:
+1-646-360-1656
Email: [email protected]