NEW YORK, August 2, 2016 /PRNewswire/ --
Expanding vehicle fleet coupled with anticipated increase in vehicle sales to boost tire sales in Switzerland through 2021
According to TechSci Research report, "Switzerland Tire Market Forecast & Opportunities, 2021", tire market in Switzerland is forecast to grow at a CAGR of more than 6% during 2016 - 2021 on account of expanding automotive fleet, especially of the passenger car segment in the country. In 2015, the country's tire market was majorly dominated by the passenger car tire segment, followed by two wheeler and commercial vehicle tire segments. Key reason for continuously rising sales of passenger cars in the country can be attributed to high per capita disposable income. Anticipated increase in small, medium & heavy commercial vehicles is also expected to boost tire sales in the country over the next five years.
Browse 12 market data Tables and 26 Figures spread through 107 Pages and an in-depth TOC on
"Switzerland Tire Market "
Continental, Michelin, Goodyear, Bridgestone and Pirelli are the largest tire players operating in Switzerland, accounting for a cumulative share of over 90% in the country's tire market. Over the next five years, these five tire majors are expected to continue their dominance in Switzerland. Espace Mittelland and Lake Geneva Region are the two largest regional tire markets in the country, followed by Zurich, Eastern Switzerland and Northwestern Switzerland. In 2015, Espace Mittelland and Lake Geneva Region, cumulatively grabbed a market share of around 45% in the country's tire market.
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"Continuing growth in winter tire market in Switzerland on account of harsh climatic conditions and increasing consumer awareness, has been positively influencing the country's tire market over the last few years. Winter tires or Snow tires are specially designed tires, that use modern silicon compound technology and improved tread pattern design offering hassle-free and safe driving experience on icy, wet surfaces and snow laden roads. Moreover, tire demand in Switzerland is solely met through imports, owing to absence of tire manufacturing plants in the country. Also, tire demand in the country is completely replacement driven as there are no automobile production units in the country as of now.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"Switzerland Tire Market Forecast & Opportunities, 2021" has evaluated the future growth potential of tire market in Switzerland, and provides statistics and information on market size, consumer behavior and trends. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Switzerland tire market.
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