Forecast: the European tire market will maintain a growth rate of 5% in five years

According to auto news, techsci research of Canada recently said that with the continuous increase of car ownership in Europe, the demand for tires in the region will also increase year by year, which is expected to last until 2019 at least.

Techsci research mentioned in a forecast report that the rapid growth of the automobile industry in western, central and Eastern Europe has brought strong impetus to the development of the European tire industry. From 2014 to 2019, the European tire market is expected to maintain a compound annual growth rate of 5%.

At present, there are more than 90 tire manufacturers and 15 tire R & D centers in Europe. In the next few years, Europe will remain the global tire technology development center.

Industry insiders predict that the passenger car market will be the main battlefield of the European tire industry in the next few years. By 2020, the sales volume of passenger cars and light commercial vehicles in Western Europe is expected to reach 16.9 million, that in Central Europe is expected to reach 3.7 million, and that in Eastern Europe will reach 4.6 million.

Mr. Karan Chechi, a researcher at techsci research, said that the recovery of the European automobile industry has also driven the development of automobile related industries, and the tire manufacturing industry is the industry that has benefited the most.