Passenger Car Tires Market in France 2015-2019
About Passenger Car Tires Market in France
The automotive industry in France is among the leading automobile industry in Europe in terms of automobile production after Germany and Spain. France is home to the major automakers such as PSA Peugeot Citroen and Renault, and it is among the leading automotive market in the world. During the economic downfall, consumers reduced their spending significantly as they preferred to refrain from heavy investments. However, an improvement in the economic condition in France contributes to the domestic demand for new cars and, hence, the OEM market for tires. Therefore, the passenger car tires market in France is expected to grow at a steady rate during the forecast period, because the automotive industry in the country is experiencing an improvement in the sales of new cars. Moreover, the automotive market in France received a positive push from the proliferation of cab services in the country, which translates into a positive impact on car sales and subsequently the tires market.
Technavio's analysts forecast the passenger car tires market in France to grow at a CAGR of 2.73% over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the passenger car tires market in France for the period 2015-2019. Based on distribution channel, the market can be segmented into two: OEM and replacement. To calculate the market size, the report considers the combined sales from these two segments. Technavio's report, Passenger Car Tires Market in France 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Passenger Car Tires Market in France 2015-2019
Technavio recognizes the following companies as the key players in the Passenger Car Tires Market in France: Apollo Vredestein, Bridgestone Europe, Continental, Goodyear Dunlop (EMEA), Michelin and Pirelli Tyres
Other Prominent Vendors in the market are: Cooper Tire & Rubber, Debica, Hankook Tire Group, Nankang Rubber Tire, Nokian Tyres and Syron Tires
Commenting on the report, an analyst from Technavio’s team said: “Tire manufacturers have been trying to solve this problem for a long time and finally Continental developed a way to combat this issue. Their ContiSeal technology can seal punctures up to 5 mm in diameter immediately. This technology uses a sticky, viscous layer that is applied to the inside of a tire in its tread area. It can seal 80% of all tire punctures and thus reduces the risk of flat tires greatly. To distinguish tires with ContiSeal technology, tires are marked clearly with a symbol on the sidewall. Tires with this technology are compatible with all commonly available rims. At a broader level, other manufacturers also have run-flat tires within their product portfolio. For instance, Bridgestone has developed DriveGuard, a line of run-flat tires that can work even after the air pressure within them drops. These tires can run up to 50 miles at a maximum speed of 50 mph.”
According to the report, the collaborative efforts of companies have improved the taxi situation in Paris, and the number of chauffeur-driven cabs has increased considerably over time. There are now 17,600 licensed taxis in Paris, but the French capital has a dearth of cabs (VTCs). The concept of private cab services has been well received by consumers in Paris as they were tired of taxi drivers' monopoly. There is a sizeable opportunity to be tapped in this market, and companies are exploring ways to tap the potential of this market. An increase in cab services leads to new car sales as the fleet owners have to improve their fleet size. With the growing fleet size, the OEM market for tires is gaining growth momentum.
Further, the report states that the combined impact of the present economic conditions and the said change in consumer behavior is affecting the passenger car tires market in the country, especially the OEM tires market.
Apollo Vredestein, Bridgestone Europe, Continental, Goodyear Dunlop (EMEA), Michelin, Pirelli Tyres, Cooper Tire & Rubber, Debica, Hankook Tire Group, Nankang Rubber Tire, Nokian Tyres, Syron Tires
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