In 2018 the global New Premium tyre market is expected to demonstrate strong growth (≥+10%), in line with the IPO plan, outperforming the standard segment by 10 times.
Europe, NAFTA e Asia Pacific, the three main regions, account for 94% of the global New Premium tyre market.
NEW PREMIUM TYRE REPLACEMENT MARKET 2016-2020
Source: 1H 2018 Results Presentation
The New Premium tyre market segment, which is a significant part of the High Value market for motor vehicles, is characterized by a higher growth than that of the standard segment, considering:
- the evolution of the circulating car market mix (the share of Prestige and Premium segments for 2014 was 9.9%, 10.8% for 2017, 11.3% for 2020);
- the growing number of car models which is accompanied by the diversification of the characteristics of the tyres approved for each individual car model;
- the growing demand for Specialties and Super Specialties tyres;
- the increasing market share of SUVs (14% of global registrations in 2010, 29% in 2016, 34% in 2020);
- the evolution of automobile design towards higher tyre rim diameters.
2016-2020 KEY DRIVERS OF GLOBAL HIGH VALUE TYRE MARKET GROWTH
Source: Company Presentation
Latest update: 9/08/2018