LONDON, May 11, 2016 /PRNewswire/ -- Italy is a leading automobile production hub in Europe, as the country is home to a number of automobile manufacturing units. The country recorded a high vehicle motorization rate (passenger car and commercial vehicle) of 686 vehicles per 1000 people in 2013. Despite a growing automobile fleet and high motorization rate, Italy tyre market registered negative CAGR in volume terms during 2010-2014. Weaker economic conditions due to Eurozone crisis, delay in infrastructure projects, low income growth and significant cuts in public spending led to decline in sales of tyres during 2010-2014. Improving consumer and investor confidence, coupled with positive developments in Eurozone economic conditions, is forecast to drive growth in vehicle production and sales in Italy over the next five years, thereby augmenting demand in the country's tyre market during the forecast period.
According to "Italy Tyre Market Forecast & Opportunities, 2020", passenger car tyre segment accounted for a lion's share of more than 80% in Italy tyre market in 2014. However, with anticipated growth in LCV sales, commercial vehicle tyre segment is forecast to outperform passenger car tyre segment by exhibiting fastest growth rate among all tyre segments during 2015-2020. Replacement tyre market in Italy accounted for around 85% of the market in 2014, and the replacement segment is forecast to continue its market dominance in the country's tyre market during the forecast period. With the government of Italy increasing its focus on macroeconomic reforms, anticipated growth in construction, agriculture and industrial sectors is forecast to boost the country's automobile and tyre industry in the coming years. Few of the major tyre brands operating in Italy include Michelin, Pirelli, Continental and Bridgestone. "Italy Tyre Market Forecast & Opportunities, 2020" report elaborates following aspects of tyre market in Italy:
- Italy Tyre Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tyres, Light Commercial Vehicle Tyres, Medium & Heavy Commercial Tyres, Two Wheeler Tyres & OTR Tyres
- Policy & Regulatory Landscape
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tyre market in Italy
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tyre companies and other stakeholders align their market-centric strategies
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre companies, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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