In 2009, Europe suffered one of the worst economic meltdowns, commonly referred to as the Eurozone Crisis. Though the crisis impacted the entire region, Greece was among the most severely affected countries. Due to economic slowdown, the country’s economy suffered a slump, and multiple public as well as private banks declared bankruptcy, which impacted various sectors, consequently restraining growth in Greece’s automobile and related components market over the last five years. However, the country witnessed signs of revival in 2013 due to several bailout packages offered to Greece by the European Union and the International Monetary Fund (IMF). Consequently, the country’s tire market also witnessed a rebound with sale of tires increasing across all the vehicle segments. To boost new vehicle sales, the Government of Greece introduced a policy initiative in 2009, wherein the government provided an incentive ranging from $670 to $3,740 for individuals scrapping their old vehicles for new ones. The scheme was in effect until the end of 2014.
According to “Greece Tire Market Forecast & Opportunities, 2021”, tire market in Greece is projected to cross $ 3.4 billion by 2021. The country’s vehicle fleet is dominated by the passenger car segment, followed by the two-wheeler vehicle segment. Consequently, the passenger car tire segment held a share of more than 75% in the country’s tire market in 2015 and its dominance is anticipated to continue during the forecast period as well. Due to absence of automobile manufacturing in Greece, the tire market is entirely dependent on the replacement demand, which is being addressed by flagship as well as Chinese tire brands imported into the country. Few of the major companies operating in Greece tire market include Michelin, Bridgestone, Goodyear, Continental and Pirelli, among others. “Greece Tire Market Forecast & Opportunities, 2021” discusses the following aspects of tire market in Greece:
- Greece Tire Market Size, Share & Forecast
- Segmental Analysis – Passenger Car Tires, Medium and Heavy Commercial Tires, Light Commercial Vehicle Tires, OTR Tires & Two Wheeler Tires
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report
- To gain an in-depth understanding of Greece tire market
- To identify the on-going trends and anticipated growth in the next five years
- To help industry consultants, tire companies and other stakeholders align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing material
- To gain competitive knowledge of leading market players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer’s specific needs
The information contained in this report is based upon both primary and secondary research. Primary research included interaction with tire companies, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.