Ireland Tire Market Competition Forecast and Opportunities, 2021

Research and Markets has announced the addition of the "Ireland Tire Market By Vehicle Type (Passenger Car, LCV, Off-The-Road, M&HCV, Two Wheeler), Competition Forecast and Opportunities, 2011-2021" report to their offering; with Michelin, Goodyear, Bridgestone, Continental, Pirelli, and Yokohama Dominating the US$ 450 Million.

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Ireland Tire Market is forecast to surpass US$ 450 million by 2021, on account of anticipated recovery in the macroeconomic environment and reviving automobile sales.

Ireland’s economy is one of the most stable economies in the European Union. With a population of more than 4.5 million and a vehicle motorization rate of over 500 vehicles per 1,000 people in 2015, Ireland tire market is projected to witness growth over the next five years. Construction industry in Ireland accounted for almost 7% of the country’s GDP in 2014.

Moreover, initiatives taken by the government such as Construction 2020′ that aims to build 35,000 housing units between 2016 and 2020, are expected to augment construction activities in the country over the next five years.

Ireland Tire Market is forecast to surpass US$ 450 million by 2021, on account of anticipated recovery in the macroeconomic environment and reviving automobile sales.

Furthermore, projects worthUS$ 17.5 billion in pipeline are anticipated to attract huge demand for medium and heavy commercial vehicles and OTR vehicles in the coming years. Anticipated demand for MHCV and OTR vehicles in the country is expected to drive growth in Ireland tire market during the forecast period.

Accounting for more than three-fourths of the overall tire demand in 2015, the passenger vehicle tire segment is the most dominant tire segment in the country’s tire market, and the segment’s dominance is expected to continue through 2021.

With no automobile production units in the country, Ireland’s tire market is entirely dependent on replacement tire demand. Prominent tire brands operating in the country include Michelin, Goodyear, Bridgestone, Continental, Pirelli, and Yokohama, among others.

Market Trends & Developments

  • Increasing Online Sales
  • Growing Demand for Retreaded Tires
  • Growing Penetration of Chinese Tires
  • Construction Industry Driving OTR Tire Demand

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