belgium tyre market 2021 brochure

M a r k e t I n t e l l i g e n c e . C o n s u l t i n g

Belgium Tyre Market Forecast and Opportunities , 2021

P r o d u c t O v e r v i e w

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Vehicle Segment Sub-Segment Customer Segment

Passenger Car

Crossovers

IndividualsSUVs

Hatchback

Sedan

Light Commercial Vehicle N.A.Transport Companies, Logistics, Small Business Entrepreneurs, Delivery Services, Government

Medium & Heavy Commercial Vehicle

Medium Commercial Vehicle (3.5 tonne – 16 tonne)

Logistics, SMEs, ConstructionHeavy Commercial Vehicle ( > 16 tonne)

OTR (Off-the-Road) Vehicle

N.A.Farmers, Mining companies, ConstructionCompanies

Two-Wheelers

Motorcycles

Individuals, Delivery ServicesScooters

Moped

Global tyre supplier Michelin defines tyre as, “A precisely engineered assembly of rubber,chemicals, fabric, and metal, designed to provide traction, cushion road shock andcarry a load under varying conditions.”

Classification According to Vehicle Type

Product Definition

N.A.: Not Available

T a b l e o f C o n t e n t s

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S. No. Contents

1. Research Methodology

2. Product Overview

3. Analyst View

4. Belgium Tyre Market Outlook

4.1. Market Size & Forecast

4.1.1. By Value & Volume

4.2. Market Share & Forecast

4.2.1. By Vehicle Type (Passenger Car (PC), M&HCV, LCV, Two-Wheeler and OTR)

4.2.2. By Company

4.2.3. By Region

4.2.4. By Demand Category (OEM vs Replacement)

5. Belgium Passenger Car Tyre Market Outlook




5.2.1. By Vehicle Type (Cross Overs, Hatchbacks, SUVs and Sedans)

5.2.2 By Demand Category (OEM vs Replacement)

6. Belgium Medium & Heavy Commercial Vehicle (M&HCV) Tyre Market Outlook



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S. No. Contents



6.2.1. By Vehicle Type (HCV and MCV)

6.2.2. By Demand Category (OEM vs Replacement)

7. Belgium Light Commercial Vehicle (LCV) Market Outlook



8. Belgium Two-Wheeler (2W) Tyre Market Outlook




9. Belgium Off-The Road (OTR) Tyre Market Outlook



10. Import-Export Analysis

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Increasing Online Tyre Sales


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S. No. Contents

12.2. Growing Penetration of Winter Tyres

12.3. Rising Demand for OTR Tyres

12.4. Growing Demand for Electric Vehicles

12.5. Added Safety with TPMS

13. Policy & Regulatory Landscape

14. Belgium Economic Profile

15. Competitive Landscape

15.1. Michelin Belux SA

15.2. Bridgestone Europe S.A

15.3. Pirelli Tyres Belux NV / SA

15.4. N.V. Apollo Vredestein BeLux S.A.

15.5. Hankook Tire

15.6. Nokian Tyres PLC

15.7. N.V. Yokohama Belgium S.A.

15.8. Goodyear Dunlop Tires Belgium N.V.

15.9. Cooper Tire & Rubber Company

15.10. Kumho Tire Co.

16. Strategic Recommendations

17. About Us & Disclaimer

R e s e a r c h M e t h o d o l o g y

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Baseline Methodology:

For the study, TechSci Research gathered information through primary research surveys with leading tyresuppliers based in Belgium, and subsequently, verified information from major distributors of automobiletyres in the country. We also put through an exhaustive search of credible paid databases such as BusinessWeek, Factiva, Hoovers, etc., including our internal database. Our team of analysts has then prudentlyevaluated all the collected information and presented the same in chronological order to depict a meaningfuland clear picture of the tyre market in Belgium.

While compiling the data, we have also cross checked all the collected information from multiple sources anddata warehouses, so as to present the most accurate and precise information of the concerned industry. Weuse innovative business model that focuses on improving productivity, while ensuring creation of high-qualityreports. The reports are prepared with in-depth primary research, followed by exhaustive secondary research.

Primary Research - Companies Interviewed

S. No. Company Name

1 Pirelli Tyres Belux NV / SA

2 Yokohama Belgium S.A.

3 Apollo Vredestein BeLux S.A

4 Goodyear Dunlop Tires Belgium N.V.

5 Michelin Belux SA

Few of Sources of Secondary Research

S. No. Secondary Source

1European Tyre and Rubber Manufacturers

Association (ETRMA)

2European Automotive Manufactures

Association (ACEA)

3 Eurostat

4International Organization of Motor Vehicle

Manufacturers (OICA)

6The Belgian Federation of Automobile and

Motorcycle

7European Association of Motorcycle

Manufacturers (ACEM)

8 World Bank


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For the preparation of Belgium tyre report, bottom up model has been used, which has been later on crossvalidated by using top down approach.

Vehicle Production, Sales & Fleet Size

The basic data points that are needed for the analysis of Belgium tyre market are the historical, current andforecast figures for vehicle production, sales and fleet size. Data for fleet size has been extracted throughvarious government sources and credible data portals. TechSci Research also maintained a database for vehicleproduction, sales and fleet size for each vehicle segment (passenger cars, light commercial vehicle, medium &heavy commercial vehicles, two-wheelers & off-the-road vehicles), which is regularly updated through variousprimary research surveys and secondary sources such as automotive associations & government publications.

Tyre Demand

OEM Tyre Sales

OEM tyre demand has been calculated by multiplying the average number of tyres per vehicle to the totalnumber of vehicle produced. For example, for two-wheeler segment, the average number of tyres areconsidered to be two and for passenger cars, the average number of tyres is considered to be five. Further, theaverage number of tyres for light commercial vehicles (LCVs), medium & heavy commercial vehicles (M&HCVs)and off-the road (OTR) vehicles were considered to be 5, 7 and 4, respectively.


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Replacement Tyre Sales

Replacement tyre demand of a particular country is directly dependent on country’s vehicle fleet size and historicalvehicle sales. The replacement demand is therefore extracted by multiplying the vehicle fleet with the replacementtyre ratio, which is obtained by conducting a series of surveys with car owners to understand the frequency of tyrereplacement as it varies for different countries depending upon factors such as road conditions, climate, economicand regulatory policies applicable in a country. The replacement ratio is expressed as a percentage. For example, incase of passenger cars, replacement ratio is considered to be 100% if four tyre is replaced per vehicle per yearExample for Passenger Car replacement tyre demand calculation:

The calculated replacement tyre demand data is further analyzed by TechSci Research through Delphi technique i.e.multiple rounds of telephonic interviews were conducted with tyre companies/dealers in Belgium. The informationthus gathered through primary interviews was cross-verified through industry experts and secondary sources such asannual reports and paid databases to generate meaningful results.

Total Tyre Market

Tyre Trade (Imports & Exports)

TechSci Research has analyzed tyre imports and exports in Belgium. The data has been gathered throughgovernment agencies and credible paid databases. The total tyre trade has been segmented in accordance with belowmentioned HS codes:

Passenger

Car Fleet

Size

(Volume)

X

Replacement

Ratio

(in %)

X No. of Tyres =

Replaceme

nt Tyre

Demand

1,00,000 X 10% X 4 =40,000

Tyres

OEM Tyre Sales +Replacement

Tyre Sales= Total Tyre Market


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The imports and exports figures for each HS Code have been depicted in Value (USD Million).

Tyre Brands Mapping

TechSci Research has mapped all tyre brands that are being sold in Belgium. TechSci Research has gatheredthis information through primary and secondary research. The brands that are being sold in Belgium areimported from other countries. The objective behind brand mapping is to understand more about thecompetition such as market share, current targets, future strategy, etc.

Forecast

For forecasting the numbers, we have used Time Series Analysis along with Regression Analysis, followed byjudgmental analysis as certain factors would always differ in Belgium such as infrastructure condition,economic outlook, etc.

HS Code Description Tyre Type

401110 Motor Cars Passenger Car Tyre

401120 Bus or Lorries Tyres Commercial Vehicle Tyre

401140 Motorcycle Tyre Two-Wheeler Tyre

401161 Tyre Having a "Herring Bone"

OTR Tyre





401192 Agriculture Tyre

401193 Construction/Industrial Tyre

401194 Construction/Industrial Tyre

401199 Others Other Tyres

I n d u s t r y B r i e f

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Belgium Tyre Market to Cross € 750 Million by 2021

Increasing production and sales of passenger cars coupled with rising demand for tyres to fuel growth in Belgiumtyre market

According to TechSci Research report, “Belgium Tyre Market Forecast & Opportunities, 2021”, tyre market inBelgium is forecast to surpass € 750 million by 2021 on account of improving road infrastructure, increasingautomobile sales and expanding automobile fleet. Rising vehicle sales coupled with increasing purchasing power ofend consumers is propelling growth in the country’s OEM as well as replacement tyre market. In 2015, thereplacement tyre demand accounted for over two-thirds of the total number of tyres sold in the country. Onaccount of expanding fleet size, the demand for tyres from the replacement segment is expected to outpace thegrowth in the Belgium’s OEM tyre segment during the forecast period.

Due to absence of tyre manufacturing facilities in Belgium, the country’s demand for tyre is met through imports.In 2015, Flemish region in Belgium accounted for the lion’s share in the Belgium tyre market, followed by Walloniaregion and Brussels region. Few of the leading global players operating in Belgium tyre market include Michelin,Pirelli, Goodyear, Bridgestone, and Yokohama, among others. In 2015, Michelin held the largest share in thecountry’s tyre market, followed by Bridgestone and Pirelli.

Passenger car segment holds the lion’s share in Belgium tyre market, and the trend is expected to gain furtherstrength over the next five years. “Belgium’s tyre market is a replacement driven market.

Moreover, in comparison to OEM tyre demand, the replacement tyre demand is expected to grow at a faster pacein the coming years, leading to further increase in the share of replacement segment during the forecast period. Interms of the country’s overall tyre market, though the demand scenario was quite challenging over the last fiveyears, the situation is expected to change with tyre demand anticipated to revive in the coming years.” said Mr.Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

http://www.techsciresearch.com/report/belgium-tyre-market-forecast-and-opportunities-2021/612.html

B e l g i u m T y r e M a r k e t S i z e , B y V a l u e & V o l u m e

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Belgium Tyre Market Size, By Value (USD

Million), By Volume (Million Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 123 5 7 9 11

15 17 19 21 23 25

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Volume (Million Units) Value (USD Million)

3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00%4.00% 3.80% 3.60% 3.40% 3.20% 3.00% 2.80%6.00% 6.10% 6.20% 6.30% 6.40% 6.50% 6.60%13.00% 12.80% 12.60% 12.40% 12.20% 12.00% 11.80%14.00% 14.50% 15.00% 15.50% 16.00% 16.50% 17.00%

24.00% 24.10% 24.20% 24.30% 24.40% 24.50% 24.60%

35.00% 34.80% 34.60% 34.40% 34.20% 34.00% 33.80%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Others (Yokohama, Cooper, Kumho, etc.) MichelinBridgestone PirelliApollo Hankook

Belgium Tyre Market Share, By Company, By Volume, 2015-2021F

Belgium Passenger Car Tyre Market Share, By

Vehicle Type, By Volume, 2015-2021F

1.40% 1.50% 1.60% 1.70% 1.80% 1.90% 2.00%2.10% 2.00% 1.90% 1.80% 1.70% 1.60% 1.50%

1.60% 1.50% 1.40% 1.30% 1.20% 1.10% 1.00%

4.80% 5.00% 5.20% 5.40% 5.60% 5.80% 6.00%

2015 2016E 2017F 2018F 2019F 2020F 2021F

Cross Overs Hatchbacks SUVs Sedans

Belgium Off-The-Road Tyre Market Size, By Value (USD

Million), By Volume (Thousand Units), 2011-2021F

1 2 3 4 5 7 8 9 10 11 12

3 5 7 9 1115 17 19 21 23 25

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

Volume (Million Units) Value (USD Million)

FlemishRegion

2015 : X%2021F : X%

WalloniaRegion Brussels

Region

Belgium Tyre Market Share, By

Region, By Volume, 2015 & 2021F

2015 : X%2021F : X%

2015 : X%2021F : X%

Belgium Medium & Heavy Commercial Vehicle Tyre

Market Share, By Vehicle Type, By Volume, 2011-2021F

26% 27% 28% 29% 30% 31% 32% 33% 34% 35% 36%

74% 73% 72% 71% 70% 69% 68% 67% 66% 65% 64%

2011 2012 2013 2014 2015 2016E 2017F 2018F 2019F 2020F 2021F

MCV HCV

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A b o u t U s & D i s c l a i m e r

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Disclaimer

The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made thatit is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sourcesincluding which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of anyinformation and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that ithas no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can changewithout notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage ofthe same for purpose other than internal will require prior approval of TechSci Research.

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