Increasing government regulations on tire energy labelling in the region to drive Europe green tire market through 2024
According to TechSci Research report, “Europe Green Tire Market By Vehicle Type, By Product Type, By End User, By Rim Size, By Country, Competition, Forecast & Opportunities, 2024”, Europe green tire market is expected to register a CAGR of around 14% during 2019 – 2024, owing to growing production of automobiles and continuously expanding automobile fleet. Moreover, increasing government regulations on tire energy labelling is expected to boosting demand for green tires in the region through 2024.
Browse 61 market data Figures spread through 110 Pages and an in-depth TOC on “Europe Green Tire Market”
Europe green tire market can be segmented based on vehicle type, by product type, by end user, by rim size and by country. Passenger car is the dominant segment in the Europe green tire market on account of expanding passenger car fleet size, growing passenger car production and sales, and high consumer preference for passenger cars in the region. In terms of end user, the market can be segmented into Aftermarket and OEM. The Aftermarket segment is expected to account for the largest market share by volume in 2019 due to large automotive fleet size and high replacement rate of tires.
Compagnie Générale des Établissements Michelin, Bridgestone Europe NV/SA, Continental Aktiengesellschaft, Goodyear Dunlop Tires Europe B.V., and Pirelli & C. S.p.A., are the leading players operating in Europe green tire market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their market penetration. Increasing regulations for tire energy labelling are also pushing the Europe green tire manufacturers to innovate their tire offerings to attract consumers.
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“Europe green tire market is forecast to witness robust growth in the coming years owing to increasing government regulations such as tire labelling, which requires tire manufacturers to have clear tire energy labelling to provide a clear and common classification on the basis of tire efficiency related to external noise, fuel efficiency and braking in wet conditions”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Green Tire Market By Vehicle Type, By Product Type, By End User, By Rim Size, By Country, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Europe green tire market and provides statistics & information on market size, structure and future market growth. The report intends to provide latest market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe green tire market.
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