Tag: market analysis
Europe will overtake the US in the electric and hybrid cars market, says MarketLine
The hybrid and electric cars market has seen strong growth globally as countries work to meet ambitious CO2 targets, rising at a compound annual growth rate (CAGR) of 12.6 per cent. Scandinavian countries such as Sweden will enjoy exceptional growth forecast growth of 27.9 per cent between 2016 and 2021, according to research firm MarketLine.
The future’s bright for Poland’s electromobility market, says Frost & Sullivan
Poland’s electromobility market is ripe for growth. Favourable government initiatives such as the Electromobility Plan and Electromobility and Alternative Fuels Act are reshaping local mobility and igniting innovative clean technologies to achieve higher competitiveness and energy optimization. Growth will be augmented by consumer incentives and the simultaneous development of infrastructure, energy distribution, and product offerings. Players should look for opportunities in charging point infrastructure development, automotive supply chain transformation, and public transport modernisation to gain a competitive advantage.
GfK: SUV sales drive UK tyre market post-Brexit
GfK reports that 2016 was a successful year for tyre manufacturers in the UK. This is said to have been driven by “the increasing number of SUVs on the road”, which naturally does its part to improve product mix. To be specific, according to GfK, 4x4 tyre sales leapt up 18 per cent in terms of units sold year-on-year. However, taking the year as a whole (including other passenger vehicle fitments), last year GfK’s Panel Market GB was flat.
Indonesia set to become main ASEAN automotive production hub, says report
There is strong evidence Indonesia will eventually replace Thailand as the main automotive production hub in the Association of Southeast Asian Nations (ASEAN), according to Markus Scherer, global automotive sector leader at Ipsos Business Consulting. This could have major implications for automotive manufacturers and suppliers as well as policy planners in both countries, Scherer said.
GfK: UK still amongst largest and fastest growing SUV tyre markets
The UK is still one of the largest and fastest growing 4x4/SUV tyre markets in Europe. In fact, according to the latest data compiled by market research specialists GfK Automotive, the UK is the second largest in Europe with sales of 1.157 million 4x4 tyres in 2015. Speaking with GfK Automotive account director Kevin Glynn, Tyres & Accessories learnt that only Italy’s annual sales of 1.4 million 4x4 tyres last year was bigger.
High growth forecast for carbon black market
Two recent reports are predicting increased use of carbon black in different industries over the next few years. BCC Research forecasts in its new report that carbon black is expected to show a five-year compound annual growth rate (CAGR) of 4.2 per cent from 2014-2019, leading to a global market size of US$36 bln in the end year.
ETRMA: increased car demand lifted European premium tyre markets
Increased demand for new car purchases has led to increased tyre demand across Europe, according to the latest data released by the European Tyre Manufacturer’s Association. The ETRMA statistics reveal that consumer OE tyre sales were up 12 per cent, while truck tyre OE was up a 21 per cent. The association linked this increase directly to new vehicle OE growth, which in the case of passenger cars, grew 14.6 per cent in the period.
West European trailer market starts 2015 well
A new report suggests demand for heavy goods trailers in Western Europe was strong at the start of 2015. Registrations of new trailers are forecast to grow by 12.8 per cent in the first half and 4.7 per cent in the second, according to the research conducted by Clear International. Overall the market is expected to be stronger than anticipated six months ago.
Giti: Rim sizes getting larger, and the UK is more ‘high-performance’ than many think
Having heard both the consensus and a third party perspective on what the high performance tyre market is and what is happening in it, when Tyres & Accessories asked Neil Hendry, general manager – Passenger Car Tires, Europe for Giti Tire for his and Giti's view, he offered another perspective again.
High performance tyre segment growing across Europe
As we have seen, the high performance tyre market is a complex and competitive environment. The fact that most manufacturers define and therefore calculate the market in a slightly different way adds to the complexity. With this in mind, Tyres & Accessories asked GfK automotive account director Kevin Glynn for some outside insights into what is going on in the world of high performance tyres.
Size matters: The makings of a high performance tyre market
At the start of 2015 we examined the wider car tyre segment as part of Tyres & Accessories February’s “Passenger Car Tyre” feature. In short, we examined the spectrum of figures offered for the size of UK demand and found that most sources settle between 31 and 38 million units a year. Interestingly, some of the latest data points to the market being at the higher end of the spectrum – something that has not been very widely or openly acknowledged in the past.
Connected cars to boost UK employment
Research commissioned by the SMMT has found that the development of connected and autonomous vehicles will help generate 320,000 jobs in the UK. Researchers from KPMG found that these new vehicles will deliver a £51 billion boost to the UK economy and reduce serious road traffic accidents by more than 25,000 a year by 2030. It also forecasts the UK will be a global leader in the production of this next generation of vehicles.
Michelin: European tyre demand improving, emerging markets face headwinds
Michelin’s February tyre demand data shows a sequential improvement in replacement demand in most markets. With China and Brazil being the only real exceptions, basically every other showed month-on-month increases - the first positive uptick months. The situation in China however, is somewhat bleaker. According to the Michelin tyre demand data, Chinese passenger car tyre replacement demand dropped -13 per cent from growth of +18 per cent in January. “This is a worrying indicator for broader China consumer demand”, Morgan Stanley market analysts wrote in an investor’s note data 13 March 2015.
An influx of imports is making the car tyre market even more competitive
On 27 January the UK economy registered growth of 2.6 per cent in 2014. Of course it has not been the same across Europe, but with record new car registrations in the UK and 32 consecutive months of growth in that figure, you could be forgiven for asking why the UK tyre market came out as flat according to both the sell-in and sell-out measurements in 2014. At the same time it is important to set all this into its wider European context, something which this month’s analysis of the passenger car tyre market attempts to embark on.
Looking up? Why there’s more room for tyre demand improvements
Our review of the year at the end of last year, pointed out how many sources had expected better times for the tyre retail market in 2014. Now as we move forward into 2015, Tyres & Accessories examines the current case for the demand recovery in the market. Many of the wider economic indicators point to broad economic recovery. At the same time pay is rising and inflation is levelling off at around 1 per cent, meaning household incomes should be rising. Furthermore fuel prices are lower than they have been for years. And of course, all this should lead to greater tyre sales volumes and even improved product mix. It is customary to be positive and even optimistic at this time of year, wishing everyone a happy new year etc, but the question remains with regard to our tyre market predictions - will it?