Ireland Tire Market to Cross € 400 Million by 2021: TechSci Research Report

Jul 20, 2016, 10:30 ET from TechSci Research

NEW YORK, July 20, 2016 /PRNewswire/ --

Increasing passenger car sales, coupled with growing automobile fleet and rising demand for MHCV vehicles from infrastructure industry, to fuel demand for tires during next five years  

According to TechSci Research report, "Ireland Tire Market By Vehicle Type Competition Forecast and Opportunities, 2011 - 2021", the country's tire market is projected to reach US$450 million (€ 400 Mn) by 2021. Major growth drivers in Ireland tire market include increasing vehicle fleet, introduction of new vehicle models, coupled with growing economy and rising purchasing power. In 2015, passenger car tire segment dominated the country's tire market, followed by commercial vehicle and off-the-road vehicle segments. Moreover, demand for light commercial vehicles is rising in the country on account of increasing demand from Small and Medium Scale Enterprises (SMEs).

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Browse 9 market data Tables and 28 Figures spread through 96 Pages and an in-depth TOC on "Ireland Tire Market "

As of 2015, tire market in Ireland was mainly concentrated in two provinces, Eastern and Southern regions of Ireland. With a cumulative volume share of over 60% in 2015 in the country's tire market, Eastern and Southern regions have been dominating the tire market landscape in the country on account of both of these regions having the largest number of economic and commercial centers. Presence of various multinational tire brands such as Michelin, Bridgestone, Goodyear, Yokohama, Toyo, Kumho, Pirelli, Hankook, etc., results in high competition in the country's tire market. However, due to the absence of any tire manufacturing facility in the country, the domestic demand for tires is completely dependent on imports.

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"With enough government support to SMEs coupled with various initiatives being taken to strengthen the country's economic environment, Ireland is expected to attract huge foreign investments in the coming years. Moreover, increasing focus towards infrastructure development by the Irish government, is expected to positively affect demand for commercial and OTR vehicle tires over the course of next five years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

"Ireland Tire Market By Vehicle Type Competition Forecast and Opportunities, 2011 - 2021" has analyzed the potential of Ireland tire market, and provides statistics and information on market size, consumer behavior and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by the industry.

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