NEW YORK, August 23, 2016 /PRNewswire/ --
Rising Automobile Sales, Growing Production of Automobiles and Improving Macroeconomic Outlook to Drive France Tire Market Through 2021
According to TechSci Research report, "France Tire Market Forecast and Opportunities, 2021", tire market in France is forecast to grow at a CAGR of over 6% in value terms through 2021. Growth in the market is anticipated on account of improving macroeconomic scenario, rising average selling prices of tires and growing vehicle fleet. Furthermore, with growing internet penetration, various e-commerce websites are offering tires with attractive deals and offers, which has been positively influencing the country's tire market over the last few years.
France is one of the largest tire markets in the European region. France tire market is dominated by various tire manufacturing giants such as Michelin, Goodyear Dunlop, Continental, and Bridgestone, among others. Being a domestic player, Michelin is familiar with the local market scenario, and hence, has an edge over other foreign tire players operating in the country. Region-wise, in 2015, Northern France accounted for largest volume share in the country's tire market, and the same trend is anticipated to continue through 2021. Further, passenger car segment is forecast to dominate France tire market over the next five years owing to increasing passenger car sales, expanding passenger car fleet and growing purchasing power of the consumers.
Browse 37 market data Tables and 33 Figures spread through 124 Pages and an in-depth TOC on "France Tire Market "
"During 2011 - 2015, due to the impact of Eurozone crisis, automobile sector in France could not deliver to its full potential, and consequently, tire industry in France was negatively affected due to decline in automotive production 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 tire market in France during forecast period. Moreover, the country's replacement tire demand is anticipated to grow at a higher pace in comparison to the OEM tire demand over the course of next five years." said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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"France Tire Market Forecast and Opportunities, 2021" has evaluated the future growth potential of tire 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 tire market.
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