Ireland Tire Market is forecast to surpass US$ 450 million by 2021, on account of anticipated recovery in the macroeconomic environment and reviving automobile sales.
Ireland's economy is one of the most stable economies in the European Union. With a population of more than 4.5 million and a vehicle motorization rate of over 500 vehicles per 1,000 people in 2015, Ireland tire market is projected to witness growth over the next five years. Construction industry in Ireland accounted for almost 7% of the country's GDP in 2014.
Moreover, initiatives taken by the government such as Construction 2020' that aims to build 35,000 housing units between 2016 and 2020, are expected to augment construction activities in the country over the next five years. Furthermore, projects worth US$ 17.5 billion in pipeline are anticipated to attract huge demand for medium and heavy commercial vehicles and OTR vehicles in the coming years. Anticipated demand for MHCV and OTR vehicles in the country is expected to drive growth in Ireland tire market during the forecast period.
Accounting for more than three-fourths of the overall tire demand in 2015, the passenger vehicle tire segment is the most dominant tire segment in the country's tire market, and the segment's dominance is expected to continue through 2021. With no automobile production units in the country, Ireland's tire market is entirely dependent on replacement tire demand. Prominent tire brands operating in the country include Michelin, Goodyear, Bridgestone, Continental, Pirelli, and Yokohama, among others.
Market Trends & Developments
- Increasing Online Sales
- Growing Demand for Retreaded Tires
- Growing Penetration of Chinese Tires
- Construction Industry Driving OTR Tire Demand
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Analyst View
4. Ireland Tire Market Outlook
5. Ireland Passenger Car (PC) Tire Market Outlook
6. Ireland Off-The-Road (OTR) Tire Market Outlook
7. Ireland Light Commercial Vehicle (LCV) Tire Market Outlook
8. Ireland Medium & Heavy Commercial Vehicle (M&HCV) Tire Market Outlook
9. Ireland Two-Wheeler (2W) Tire Market Outlook
10. Import-Export Analysis
11. Market Dynamics
12. Market Trends & Developments
13. Policy & Regulatory Landscape
14. Ireland Economic Profile
15. Competitive Landscape
16. Strategic Recommendations
- Bridgestone United Kingdom Limited
- Continental Tyre Group Ltd.
- Cooper Tyre & Rubber Company UK Limited
- Goodyear Dunlop Tyres UK Ltd.
- Hankook Tyre UK Limited
- Kumho Tyre UK Limited
- Michelin Tyre PLC
- Pirelli UK Ltd.
- Toyo Tires UK Limited
- Yokohama HPT Limited
For more information about this report visit http://www.researchandmarkets.com/research/2s9mbp/ireland_tire
Related Topics: Automotive Tires
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SOURCE Research and Markets