(MENAFNEditorial)
Fast Market Research announces the availability of Technavio's new report "Passenger Car Tires Market in Spain 2015-2019" on their comprehensive research portal.
In 2011 Spain had approximately 482 passenger cars per 1000 people and 424505 miles of total road network which depicts the commercial viability of the automotive industry in the country. According to the OICA the country had 4.522 million passenger cars in use in the same year. The commercial viability of the industry has also translated into the well-being of associated markets such as the automotive tire market.
The country does not have mandatory winter tire regulations. However vehicles in Spain are subject to winter tire fitments or snow chains (in regions indicated through sign boards). While using snow chains the upper-speed limit for vehicles has to be below 31 mph. As the country has mixed weather which differs from inland mountainous areas to the coastal areas a considerable difference in temperature is observed during winters. Temperature variations in the country necessitates the need for different types of tires including winter tires which are typically advocated for places with temperatures of less than 45 degree Fahrenheit.
Technavio's analysts forecast the passenger car tire market in Spain to grow at a CAGR of 3.10% over the period 2014-2019.
Get More Details on this Report and a Full Table of Contents at
Commenting on the report an analyst from Technavio’s team said: “Because vendors are faced with high operational costs increased raw material costs and difficulty in gaining adequate return on investment they are developing innovative offerings to remain competitive in the market and increase their profits. Therefore they are investing heavily in R&D to develop new concepts and products with innovative tread and groove patterns for the tire market in Europe. Leading vendors in the market face competition from companies offering similar products as well as from those offering substitutes. Some of the main areas of competition include technology delivery product performance price service and customer preference. Because of the intense competition the market is expected to witness increasing launches of innovative products during the forecast period.”
According to the report an increase in the number of on-road passenger cars directly influences the demand for passenger car tires. The available vehicle parc in a country necessitates the demand in the replacement tires market during the effective service life of the vehicles. With expected stability in the economy new car purchases will add to the growth of the available vehicle parc and consequently to the replacement tire demand. This demand is continuously increasing across Spain and is driving the demand for passenger car tires.
Further the report states that increase in retreading of tires is affecting the replacement tire market to a great extent.
The key players in the Passenger Car Tires Market in Spain are Apollo Vredestein Bridgestone Europe BRISA Bridgestone Sabanci Tire Manufacturing and Trading Continental Cooper Tire & Rubber Debica Deldo Autobanden Falken Tyre Europe FULDA Europe Giti Tires Goodyear Dunlop Tyres Europe Goodyear Dunlop Tyres UK Hwa Fong Rubber Industries Interstate Tire & Rubber Kumho Tire Marangoni Maxxis International Michelin Nankang Rubber Tire Nexen Tire Nokian Tyres Pirelli Tyre ROSAVA Tires Sailun Group Sumitomo Rubber Industries Toyo Tire & Rubber Triangle Group Vee Rubber Group Yokohama Rubber
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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