NEW YORK, July 28, 2015 /PRNewswire/ -- Germany is the largest economy in Europe and is also one of the leading tyre markets, globally. Being one of the major exporting hubs for automobile producers, Germany's automotive industry is known worldwide for its high quality automobile manufacturing. Moreover, the country is the fourth largest in terms of total vehicle production, globally, after China, US and Japan. All of these factors position Germany as one of most lucrative markets for leading global tyre manufacturers. High vehicle ownership coupled with moderate growth in new vehicle sales is expected to continue boosting tyre sales in Germany over the next five years. Few of the major tyre players operating in Germany include Continental, Michelin, Pirelli, Goodyear, Bridgestone, etc.
According to TechSci Research report "Germany Tyre Market Forecast & Opportunities, 2020", the tyre market in Germany is forecast to grow at a CAGR of around 7% during 2015-20. Changing purchasing patterns, expanding consumer base, increasing urbanization, high R&D investments and introduction of electric and hybrid vehicles are the major factors propelling growth in the country's automobile as well as tyre market. The passenger car tyre market is the most dominant tyre segment, followed by commercial vehicle tyre, two wheeler tyre and OTR tyre segments. Demand for hybrid cars that include electric and plug-in cars is also anticipated to rise in the coming years, thereby further augmenting the tyre sales in the country. The replacement tyre segment accounts for the majority share in Germany's tyre market, and this trend is expected to continue through 2020 due to the country's large automobile fleet size. "Germany Tyre Market Forecast & Opportunities, 2020" discusses the following aspects related to tyre market in Germany:
- Germany Tyre Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tyre, Commercial Vehicle Tyre, Motorcycle Tyre & OTR Tyre
- Policy and Regulatory Environment
- Changing Market Trends and Emerging Opportunities
- Competitive Landscape and Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of tyre market in Germany
- To identify the on-going trends and segment wise anticipated growth in the coming years
- To help industry consultants, tyre companies and other stakeholders to align their market-centric strategies
- To gain in-depth understanding of market dynamics, imports, trends and opportunities in Germany's tyre market
- To obtain research based business decision and add weight to presentations and marketing material
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based on both primary and secondary sources. Primary research included interviews with tyre distributors, retailers and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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