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European tyre market to grow at CAGR of 5%

Tyre sales in Europe is expected to increase at a CAGR of over 5% during 2014-19 as a series of policy and regulatory changes are being implemented by the European Union for boosting the automobile sector, predicts TechSci research’s report, Europe Tyre Market Forecast & Opportunities, 2019.
The European tyre market has started to show signs of recovery after the slowdown in 2010 and 2011. In recent times, the automobile companies have been facing a tough time thanks to the slowdown in economy.
Currently, passenger vehicles is the dominating segment in Europe tyre sales. However, it is forecasting that commercial vehicle tyre market will also grow at a healthy rate due to an anticipated surge in the construction activities in Europe esp. Eastern Europe, said TechSci research.

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