BURNABY, British Columbia, January 19, 2016 /PRNewswire/ --
Reviving automobile production and sales coupled with expanding vehicle parc to drive Poland tyre market through 2020
According to TechSci Research report, "Poland Tyre Market Forecast and Opportunities, 2020", the tyre market in Poland is anticipated to cross US$ 3.4 billion by 2020. Growth in the market is anticipated on account of high motorization rate, growing number of greenfield projects, coupled with increasing FDI investments into the country. Moreover, due to Poland's geographical location, it a transit hub between Western and Eastern Europe, thereby the European logistic center has been shifted from Germany to Poland. Moreover, comparatively lower labor cost and improving quality standards of transportation are further strengthening the country's position as a transportation hub. Backed by all these factors, Poland offers high growth potential for the tyre industry over the next five years.
Passenger car segment is the most dominating segment in the Poland automobile market and accounts for the maximum share in the overall automobile fleet of the country. As a result, tyre industry in Poland is dominated by the passenger car segment in terms of volume sales, and same trend is anticipated to continue through 2020 on account of consistent growing passenger car sales, favorable government schemes, introduction of new models and growing disposable income of consumers.
Global players, such as Goodyear, Michelin, Continental, Bridgestone, and Pirelli, among others are few of the prominent brands operating in Poland tyre market. Bridgestone operates two tyre manufacturing plants in the country, and Goodyear and Michelin operate one tyre plant each in Poland. "Over the last few years, the automotive industry in Poland has been witnessing a volatile scenario, which has had an impact on the country's tyre industry. However, during forecast period, the tyre market in the country is anticipated to make a steady recovery on account of rising passenger car production coupled with increasing exports of passenger cars." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Poland Tyre Market Forecast and Opportunities, 2020" has evaluated the future growth potential of tyre market in Poland, and provides statistics and information on market structure 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 Poland tyre market.
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