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The European Tyre and Rubber Manufacturers’ Association has published the data of sales
of its members’ and it is interesting to note that it was a good year of recovery for the tyre
industry. According to the data, there was a big drop of about 8% in the original equipment
(OE) segment, the major reason for this is the ongoing global chip shortage. However, the
replacement tyre segment has shown a good recovery.
In the replacement market, agricultural tyre demand was high as it was driven by all-season
and winter segments. There was a 12% and 14% increase in the truck & motor segments
respectively.
Speaking on the development, Mrs Cinaralp, Secretary-General of ETRMA, said that despite
the challenging and difficult business environment, manufacturers are seeing opportunities.
She was of the view that the sector is responding well to new developments in the wake of
regulatory policies, vehicle technology etc. She further added, our sector has performed
resiliently during the pandemic and looks forward to growth in 2022.
Also Read – What is Original Equipment Tyres vs Replacement Tyres?
