High Value market is expected to continue its positive growth clearly outperforming Standard demand, with:
- the ≥18” market still solidly growing at +8%,
- ≤17” market is expected to be flattish
The issues of the car market are going to spill into early 2019, resulting into a different pace of tyre market growth among channels:
- in the Replacement, the ≥18” is expected to grow ~10%, with all the Regions performing well,
- in the Original Equipment, the ≥18” market is expected to grow ~+5%.
- the evolution of the circulating car market mix;
- 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;
- the evolution of automobile design towards higher tyre rim diameters.
O.E. + REPL. ≥18” CAR TYRE MARKET 2019
Source: Company elaborations based on third party data relative to car market and on data provided by local associations of tyre producers
The ≥18” 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:
2016-2020 KEY DRIVERS OF GLOBAL HIGH VALUE TYRE MARKET GROWTH
Fonte: Company Presentation