BURNABY, Canada, February 1, 2016 /PRNewswire/ --
Rising automobile sales, growing production and improving macroeconomic outlook to drive France tyre market size.
According to TechSci Research report, "France Tyre Market Forecast & Opportunities, 2020", tyre sales in France are anticipated to cross 50 million units by the end of 2020. Growth in the market is anticipated on account of improving macroeconomic scenario, rising average selling prices of tyres, growing vehicle fleet and favorable government policies such as low interest rates. Furthermore, with growing internet penetration, various e-commerce websites are offering tyres with attractive deals and offers, which is also positively influencing the country's tyre market.
France tyre market is majorly dominated by various tyre manufacturing giants such as Michelin, Goodyear Dunlop, Continental, Bridgestone, etc. Being a domestic player, Michelin is familiar with the local market scenario, and hence has an edge over other foreign players operating in the country. Region-wise, in 2014, Northern France accounted for largest volume share in the country's tyre market, and the same trend is anticipated to continue through 2020. Passenger car segment is forecast to dominate France tyre market over the next five years owing to increasing passenger car sales, expanding passenger car fleet and growing purchasing power of the consumers.
"During 2010 - 2014, due to the impact of Eurozone crisis, automobile sector in the country could not deliver to its full potential, and consequently, automotive production declined during the same period. However, with comparatively stable macroeconomic scenario, automobile production and sales are anticipated to grow in the coming year, which is expected to boost tyre market in France during forecast period. Moreover, the country's replacement tyre demand is anticipated to grow at a higher pace in comparison to the OEM tyre demand over the course of next five years." said Mr. Vishal Sain, Consultant with TechSci Research, a research based global management consulting firm.
"France Tyre Market Forecast & Opportunities, 2020" has evaluated the future growth potential of tyre market in France, and provides statistics and information on market structure, imports 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 France tyre market.
About TechSci Research:
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